1)Macron set to be France’s youngest President:- Le Pen concedes defeat after the Exit Polls.
2)ADB eyes Delhi as regional hub:- The Asian Development Bank (ADB) has operationally started working to create several regional hubs including New Delhi as one for South Asia and Kazakhstan for Central Asia.
Asian Development Bank:=
It is a regional development bank established on 22 August 1966 and is headquartered in Manila, Philippines.
Aim: to facilitate economic development of countries in Asia. It also aims for an Asia and Pacific free from poverty.
Membership:=The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries.
Funding:= ADB raises funds through bond issues on the world’s capital markets.
****Japan holds the largest proportions of shares at 15.67%. The United States holds 15.56%, China holds 6.47%, India holds 6.36%, and Australia holds 5.81%.
Board of Governors:=It is the highest policy-making body of the bank.
It is composed of one representative from each member state.
3)All You needto Know About FATCA:-
What is FATCA?:- The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including U.S. citizens who live outside the United States, to report their financial accounts held outside of the U.S., and requires foreign financial institutions to report to the Internal Revenue Service (IRS) about their U.S. clients.
Why is FATCA compliance necessary in India?:- India had signed an agreement with the U.S. on July 9, 2015 which enables automatic exchange of financial information between India and the U.S.
The agreement provides that Indian Financial Institutions will provide the necessary information to the Indian tax authority i.e. Central Board of Direct Taxes (CBDT), which information will then be transmitted to the U.S. automatically in the case of FATCA. The agreement came into effect on August 31, 2015.
4)Idea of a Digital Indian Rupee has been Mooted:- TO give a Push to Digital Transactions.
The digital fiat currency, proposed to the government, works in the same way as do notes and coins. By virtue of its digital nature, it has the potential to be the most financially inclusive instrument.
Some Facts:-
i)Sunkesula barrage goes dry after four decades:- The Sunkesula barrage is across Tungabhadra river.
Questions for the Day :-
1)Alvars Vs Nayannars?
2)Lingayats?
3)Karachi Session of Congress and its Outcomes?
2)ADB eyes Delhi as regional hub:- The Asian Development Bank (ADB) has operationally started working to create several regional hubs including New Delhi as one for South Asia and Kazakhstan for Central Asia.
Asian Development Bank:=
It is a regional development bank established on 22 August 1966 and is headquartered in Manila, Philippines.
Aim: to facilitate economic development of countries in Asia. It also aims for an Asia and Pacific free from poverty.
Membership:=The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries.
Funding:= ADB raises funds through bond issues on the world’s capital markets.
****Japan holds the largest proportions of shares at 15.67%. The United States holds 15.56%, China holds 6.47%, India holds 6.36%, and Australia holds 5.81%.
Board of Governors:=It is the highest policy-making body of the bank.
It is composed of one representative from each member state.
3)All You needto Know About FATCA:-
What is FATCA?:- The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including U.S. citizens who live outside the United States, to report their financial accounts held outside of the U.S., and requires foreign financial institutions to report to the Internal Revenue Service (IRS) about their U.S. clients.
Why is FATCA compliance necessary in India?:- India had signed an agreement with the U.S. on July 9, 2015 which enables automatic exchange of financial information between India and the U.S.
The agreement provides that Indian Financial Institutions will provide the necessary information to the Indian tax authority i.e. Central Board of Direct Taxes (CBDT), which information will then be transmitted to the U.S. automatically in the case of FATCA. The agreement came into effect on August 31, 2015.
4)Idea of a Digital Indian Rupee has been Mooted:- TO give a Push to Digital Transactions.
The digital fiat currency, proposed to the government, works in the same way as do notes and coins. By virtue of its digital nature, it has the potential to be the most financially inclusive instrument.
Some Facts:-
i)Sunkesula barrage goes dry after four decades:- The Sunkesula barrage is across Tungabhadra river.
Questions for the Day :-
1)Alvars Vs Nayannars?
2)Lingayats?
3)Karachi Session of Congress and its Outcomes?
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