Switzerland Ratifies Automatic Exchange Of Information With India To Help Flush Out Black Money
Switzerland has ratified automatic exchange of information (AEOI) sharing with India and 40 other countries to facilitate immediate sharing of details about suspected black money. It, however, sought strict adherence to confidentiality and data security laws. The Swiss Federal Council, the country’s top governing body, in a statement said that the protocol will be implemented next year and the first set of information is planned in 2019. As per the draft notification approved by the council in its meeting yesterday, the decision is not subject to any referendum which means there should be no further procedural delay in its implementation.
TADA Court Convicts Key Mastermind Mustafa Dossa And Five Others Including Abu Salem In 1993 Mumbai Serial Blasts Case
A Special TADA court today convicted key mastermind of the 1993 Mumbai serial blasts case Mustafa Dossa and extradited gangster Abu Salem, besides Karimullah Khan, Firoz Abdul Rashid Khan, Riyaz Siddiqui and Tahir Merchant. Advocate Deepak Salve said Court let off one accused Abdul Quayyum. This was the second leg of the trial by the court. While Dossa was convicted on charges of conspiracy and murder under various sections of the IPC besides offences under the TADA Act, the Arms Act, and the Explosives Act, Salem was found guilty of transporting weapons from Gujarat to Mumbai ahead of the blasts. The other four too, have been convicted of conspiracy and murder.
Government Makes Aadhaar Card Mandatory For Opening Of Bank Account And Financial Transactions Of 50 Thousand Rupees And Above
Government has made Aadhaar card mandatory for the opening of bank account and financial transactions of 50 thousand rupees and above. According to a notification issued by Revenue Department, all existing bank account holders have also been asked to submit Aadhaar to banks by 31st of December this year. The accounts which are not be seeded with Aadhaar number by the due date will become invalid. “The notification amends the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. It stated that Aadhar will be now mandatory for individuals, companies and partnership firms for all financial transactions of 50,000 and above. Currently, providing PAN number or Form 60 to banks while the opening of accounts or for high-value transactions are must. The government has already said that linking of Aadhaar with PAN will be mandatory to avoid individuals using multiple PANs to evade taxes.
Architect Of Germany’s Re-Unification, Helmut Kohl Passes Away
Former German Chancellor, Helmut Kohl, died at his house in Ludwigshafen, in the western state of Germany. He was 87. Mr. Kohl, who led the centre-right Christian Democrats, was the longest-serving German chancellor of the 20th Century. As Germany’s leader for 16 years, Kohl is remembered for reuniting the country and for making a huge political and economic contribution to Europe’s integration. Kohl is credited with bringing East and West Germany together after the fall of the Berlin Wall. Together with his French ally President Francois Mitterrand, he was responsible for the introduction of the Euro. Prime Minister Narendra Modi has condoled the death of Helmut Kohl. The Prime Minister in a series of tweet messages last night said India values his contribution in strengthening Indo-German ties. He also recalled Mr. Kohl visit to India in 1986 and 1993.
US To Send Nearly 4000 Additional Troops To Afghanistan
The US administration will send nearly four thousand additional troops to Afghanistan. An official of the Trump Administration said the deployment will be the largest of American manpower under the current government. The official said the decision of sending additional troops to Afghanistan could be announced by Defence Secretary Jim Mattis as early as next week.
UN General Assembly Approves Creation Of New UN Office Of Counter-Terrorism
The United Nations General Assembly has approved the establishment of a new United Nations office of counter-terrorism to help Member States implement UN’s global counter-terrorism strategy. With the creation of new UN office of counter terrorism, UN will transfer the relevant functions out of the UN Department of Political Affairs (DPA) into the new body. The Counter-Terrorism Implementation Task Force Office (CTITF) and the UN Counter-Terrorism Centre (UNCCT) currently under the DPA will be transferred to the new office together with existing staff and associated budgetary resources.
Export Of Spices & Spice Products Achieves Growth Of 12 % In 2016-17
The export of spices and spice products achieved a growth of 12 percent during 2016-17. According to Spices Board in Kochi, 9.48 lakhs tons of spices were exported earning over 17 thousand crore rupee. In 2015-16, the country had exported 8.43 lakhs tons worth around 16 thousand crores. Chilli continued to be the most sought after spice, registering an increase of 27 percent in value in the last fiscal year.
RBI: India’s Current Account Deficit Narrowed In 2016-17
According to Reserve Bank of India (RBI), India’s current account deficit (CAD) narrowed during 2016-17 fiscal owing to a contraction in the country’s trade deficit. The CAD for the last fiscal narrowed down to 0.7% of the GDP from that of 1.1% in 2015-16 due to contraction in the trade deficit. Country’s trade deficit narrowed down to $112.4 billion in 2016-17 from $130.1 billion in 2015-16. Further, the net FDI (Foreign Direct Investment) inflows in 2016-17 also got narrowed to $35.6 billion from $36 billion during 2015-16.
NASA: May 2017 Is The Second Hottest Month In 137 Years
According to NASA, May 2017 was the second hottest month in a span of 137 years when modern record-keeping of average global temperatures had commenced. The temperature of May 2017 was 0.88 degrees Celsius warmer than the mean May temperature from 1951-1980. May 2016 is the hottest on record with 0.93 degrees Celsius warmer than the May mean temperature. May 2017 temperature was 0.05 degrees Celcius cooler than the temperature recorded in May 2016. It was only 0.01 degrees Celsius warmer than the third warmest May, which occurred in 2014.
Justice PN Bhagwati, A Pioneer Of Judicial Activism Passes Away
Former Chief Justice of India Prafullachandra Natwarlal Bhagwati who is considered as a pioneer of Judicial Activism has passed away. Justice Bhagwati was 95 years old. Justice Bhagwati introduced the concepts of Public Interest Litigation (PIL) and absolute liability to the Indian judicial system. He made the famous ruling that there was no need for a person to have any Locus Standi to approach the court on the issue of fundamental rights.