The stock market regulator Securities & Exchange Board of India (SEBI) allowed physical settlement of both stock options and stock futures.
At present only cash settlement of derivatives is allowed.
SEBI stated stock exchanges will also have the flexibility to offer a combination of cash settlement for stock options and physical settlement for stock or physical settlement for stock options and the cash settlement for stock futures.
The Reserve Bank of India ( RBI) imposed a monetary penalty of Rs. 58.9 crore on ICICI Bank Limited for non-compliance with the directions issued by the RBI on direct sale of securities from its Held To Maturity (HTM) portfolio and specified disclosure in this regard.
The Central Bank stated this penalty has been imposed in the exercise of powers vested with the RBI under the provisions of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to its directions/guidelines.
The Union Cabinet approved Schemes of North Eastern Council (NEC) including the continuation of existing Schemes.
It will boost the development projects in North-East. Four thousand five hundred crore rupees have been approved for the scheme for three years up to March 2020.
The Scheme of NEC- Special Development Project will be changed to be a Central Sector Scheme with 100 percent grant.
The Cabinet Committee on Economic Affairs (CCEA) approved the continuation of the Credit Guarantee Fund for Education Loans Scheme and continuation and modification of Central Sector Interest Subsidy Scheme with a financial outlay of 6,600 crore rupees from 2017-18 to 2019-20.
The scheme will cover loans for pursuing professional and technical courses to promote quality education.
CEA also approved a proposal to formulate an Integrated Scheme on school education by subsuming Sarva Shiksha Abhiyan, Rashtriya Madhyamik Shiksha Abhiyan and Teacher Education from 1st April 2018 to 31st March 2020. An estimated allocation of 75,000 crore rupees approved for this which is a 20 percent increase over the current allocations.
Soon export of all varieties of edible oils except mustard oil is possible except mustard oil as it will continue to be exported only in consumer packs up to 5 Kgs and with a minimum export price of US $ 900 per tonne.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has approved the proposal of Ministry of Commerce & Industry for removal of the prohibition on this export
The CCEA also approved empowering the Committee, chaired by Secretary, Department of Food & Public Distribution and comprising Secretaries of Department of Commerce, Department of Agriculture, Cooperation & Farmers Welfare, Department of Revenue, Department of Consumer Affairs and DGFT, to review the export/import policy on all varieties of edible oils and consider measures such as quantitative restrictions, prior registration, imposition of Minimum Export Price (MEP) and changes in import duties depending on domestic production and demand, domestic and international prices and international trade volumes.
In a bid to help boost the employability of the state, the Asian Development Bank (ADB) agreed to give 80 million dollar loan to Himachal Pradesh.
The funds given by ADB will help in the modernization of technical and vocational education and training (TVET) institutions and improve skills ecosystem in Himachal Pradesh.
Notably, Asian Development Bank and Indian government on Wednesday signed 80 million dollar loan to help modernize Technical and Vocational Education and Training, TVET institutions and improve the skills ecosystem in Himachal Pradesh. This fund will be initiated in strengthening the ability of educated youth of the state.
The Project will help seize this opportunity by providing support in developing relevant and good quality TVET programs thereby improving employment prospects of nearly 65 thousand youths by 2022. The project will also establish a polytechnic for women, six city Livelihood Centers, and seven Rural Livelihood Centers, and upgrade 11 employment exchanges into model career Centers.
Breaking down into several big pieces, Chinese space station weighing over 7 tonnes will crash into our planet on or around April 1.
Chinese authorities are monitoring its move, it could crash in a northern US state such as Michigan.
The European Space Agency said that most of the Tiangong-1 (Heavenly Palace) will burn up even before hitting the land and the extent of human casualty is receding. The station was put into orbit in September 2011 and took part in 2 missions.
Northern China, central Italy, northern Spain, the Middle East, New Zealand, Tasmania, South America and South Africa have also been identified as regions with a high chance of impact.
The Heavenly Palace is expected to break into pieces as big as 100kg while making a plunge into the planet.
Tiangong-1 was launched on 1 October 2011, the Chinese National Day.
In September 2016, Chinese officials confirmed that they had lost control of the space lab and that it would crash into Earth sometime in the latter half of 2017. In May, China told the United Nations that the lab would reenter Earth between October and April 2018.
Vice -President M Venkaiah Naidu officially launched the most anticipated biopic of legendary actor and former Andhra Pradesh Chief Minister N T Rama Rao.
The opening ceremony took place at Ramakrishna Horticultural studios here. Naidu pointed out that President, Vice –President doesn’t attend film events but out of his respected and love for NTR, he opted to witness the historic moment.
Speaking on this occasion, Naidu underlined the contribution of legendary actor and described NTR as the pride of Telugu People all over the World.
The Vice -President extended his best wishes to Nandamuri Balakrishna who will be essaying the role of the great actor and heaped praises on the entire team for helming the epic tale.
On the first day of the shoot, Balakrishna who is playing his father NTR's role appeared as Suyodhana from 'Daana Veera Soora Karna' for the muhurtham scene.