Guwahati Railway Station first to get ISO certification in India
- The Guwahati Railway Station has become the first ever railway station in the Indian Railways to get an ISO certification from the National Green Tribunal (NGT) for “providing passenger amenities in a clean and green environment.”
- The station also has amenities such as High-class reserve (VIP) lounge, waiting rooms, AC and non-AC retiring rooms, food courts and sanitation facilities.
NIRF Rankings 2019
- Indian Institute of Technology Madras (IIT) Madras, has bagged top honours in National Institutional Rankings Framework (NIRF) 2019 and the very first edition of Atal Ranking of Institutions on Innovation Achievements (ARIIA).
- The ranking was released by the Ministry of Human Resource Development (MHRD)
- IIT Madras also emerged as the ‘Top innovative Institution’ in the country in the maiden edition of the Atal Ranking of Institutions on Innovation Achievements (ARIIA), launched by the Innovation Cell of MHRD in 2018
- ARIIA aims at systematically ranking education institutions and universities primarily on innovation-related indicators.
London to implement 24x7 pollution charge zone
- London on Monday (local time) became the first city in the world to implement a special Ultra Low Emission Zone (ULEZ) that would charge an entry fee for older vehicles if they do not meet the emission standards.
- In an attempt to reduce air pollution and protect public health, the ULEZ will be operational for 24 hours and seven days a week.
India negotiating with Netherlands to amend bilateral tax treaty
- India is negotiating with the Netherlands to amend the bilateral tax treaty, especially on matters of capital gains taxation
- Under India’s ‘agreement for avoidance of double taxation and prevention of fiscal evasion with Netherlands’, investments by Dutch firms get exemption from capital gains when shares in Indian companies are sold.
- The treaty says sale of unlisted shares of an Indian company are taxable in India only under very limited circumstances.
- The treaty allows taxation of capital gains in India when 10% or more of an Indian firms’ shares are sold to an Indian resident, but this comes with a big exception—such capital gains may be taxed in Netherlands if the sale is part of a corporate restructuring.
SEBI Approves Rs 10,000 crore ‘Airport Fund’
- Markets regulator SEBI has approved an ‘Airport’ specific fund.
- ‘Taking Off To The Future Airport Fund’, which can raise a capital of up to Rs 10,000 crore ($1.5 billion), has been approved by SEBI as a ‘Category II Alternative Investment Fund’ (AIF).
- In India, Alternative Investment Funds (AIFs) are defined in Regulation 2(1) (b) of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.
- It refers to any privately pooled investment fund, (whether from Indian or foreign sources), in the form of a trust or a company or a body corporate or a Limited Liability Partnership (LLP). Hence, in India, AIFs are private funds which are otherwise not coming under the jurisdiction of any regulatory agency in India.
Categories of Alternative Investment Funds (AIFs)
- Category I: Mainly invests in start-ups, SME's or any other sector which Govt. considers economically and socially viable.
- Category II: These include Alternative Investment Funds such as private equity funds or debt funds for which no specific incentives or concessions are given by the government or any other Regulator
- Category III: Alternative Investment Funds such as hedge funds or funds which trade with a view to make short term returns or such other funds which are open-ended and for which no specific incentives or concessions are given by the government or any other Regulator.
SBI and PAISALO to enable MSME segment
- PAISALO Digital Limited with a vision of empowering the AGRI, MSME segment and small businesses signed the first co-origination loan agreement with State Bank of India.
- This will introduce a platform for the last mile customer, the loan ticket is designed at Rs 10,000 to Rs 2 lakh.
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