Current Affairs July 17, 2015

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1. DoT’s Net neutrality panel offers a mixed bag: The Government had made the six-member panel, chaired by A.K. Bhargava to give its recommendation on net neutrality. The panel has submitted its report and it is of the firm opinion that content and application providers cannot be permitted to act as gatekeepers. The panel says it “unhesitatingly recommends that the core principles of Net Neutrality must be adhered to”.
2. CCI slaps Rs. 671 cr fine on four PSU insurance firms: Competition Commission of India (CCI) has fined four public sector insurance firms to the tune of Rs.671 crore, finding them guilty of involving in anti-competitive practices in bidding for Kerala government’s Rashtriya Swasthya Bima Yojna (RSBY), an insurance scheme for people below poverty line.
3. Banks told to meet farm credit limit: The Reserve Bank of India, directed banks to ensure that their overall direct lending to farmers should not fall below the average of last three years, as government has expressed concerns over impact of recent adverse weather conditions.
4. Amitabh Bachchan paid Rs. 6.31 crores by DD Kisan Channel: Doordarshan’s Kisan Channel was launched by Prime Minister Narendra Modi on May 26. The Super Star Amitabh Bachchan, was roped in as brand ambassador for Rs. 6.31 crore while farmers are committing suicide unable to repay their loans.
5. Kerala To Give Its Jailbirds Email Address: Prisoners in Kerala will have own email address. The state government is planning to make its jailbirds e-literacy Yagnam through a first-of-its-kind project in the country.
6. Prince Charles to raise funds for jumbo corridors: The UK’s Prince Charles is trying to raise funds for an elephant corridor in Assam.
7. SC: DMAT scam seems to be worse than Vyapam scam: After Vyapam, irregularities and corruption in Madhya Pradesh Dental and Medical Admission Test (DMAT) , a gateway for admission in private medical colleges in the state, have come under judicial scrutiny with the Supreme Court agreeing to hear a plea for CBI probe into the scam.
8. Greek lawmakers vote for reforms, secure EU loan: Greece’s fellow states in the 19-country eurozone said they were willing to open talks on a new rescue package worth 85 billion over three years after Athens approved a series of tax hikes and economic reforms overnight. Athens to get 7bn to keep its finances running.
9. No fine till 3 days after card due date: Reserve Bank of India has said that henceforth banks can levy a penalty on a credit cardholder only if they fail to receive payment for three days after the due date. The directive will benefit those whose payment or transfer gets delayed due to a bank holiday or for any other reason.
10. A Composite Cap OKed for Foreign Investments: In a significant simplification of the foreign direct investment policy, the Union Cabinet approved a proposal to scrap the distinctions among different types of overseas investment by shifting to a single composite limit. The new policy also means portfolio investment up to 49% will not need government approval as long as it doesn’t result in transfer of ownership and/or control of Indian entities to foreigners.
11. SBI seeks government Nod to share 3% of profits with its employees as incentive: State Bank of India is seeking the government's permission to dole out up to 3 per cent of its annual profits to staff in incentives in an attempt to draw top talent that normally make a beeline for private sector behemoths such as ICICI Bank and HDFC.
12. Redevelopment of 400 Railway Stations Likely: In a major push to railways’ PPP effort, the Cabinet cleared redevelopment of 400 railway stations. The station will be offered for redevelopment under the Swiss Challenge method, that is, by inviting open bids from interested parties. The station would be developed by leveraging real estate development of land and air space in and around the stations.
13. Panagariya will Head Expert Group to Classify Caste Data: The cabinet approved the formation of an expert group headed by Arvind Panagariya, vicechairman of official policy think tank NITI Aayog, for classifying the scheduled caste and tribe data in the Socio Economic And Caste Census (SECC) 2011. The government had kept this data confidential when it released the findings of the survey earlier this month.