The Union Cabinet has approved the Alliance Air, a 100 per cent subsidiary of Air India, to fly on international sectors between India and Sri Lanka.
Union Cabinet has given approval for bringing Cooperative banks under the regulatory mechanism of Reserve Bank of India.
Union Cabinet approves to set up a new major port at Vadhavan in Maharashtra. The total cost of the project is likely to be almost 65 thousand crore rupees. Vadhavan port will be developed on land lord model.
The Union Cabinet allotted its approval to confer the status of Institution of National Importance to Indian Institutes of Information Technology, IIITs of Surat, Bhopal, Bhagalpur, Agartala and Raichur.
Prime Minister Narendra Modi has stated that his government has set a defence export aim of 5 billion dollars in the upcoming five years.
The four-day mega event ‘National Horticultural Fair 2020’ at Indian Institute of Horticultural Research(ICAR) began in Bengaluru.
To address the need for building shared, professionally managed and strong Science and Technology infrastructure in the country which is readily accessible to academia, start-ups, manufacturing, company and R&D labs, the Department of Science & Technology has started a special scheme called “Sophisticated Analytical & Technical Help Institutes (SATHI)”.
Minister of State for Finance, Anurag Thakur stated that approx 38 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana till January.
Fitch Ratings stated India is expected to clock a GDP growth of 6 per cent in the next financial year, as Budget 2020 has not “materially altered” its view on the country’s growth outlook.
Frauds involving ₹1,13,374 crore were announced by banks and select financial institutions in the first half of the current financial year said Sitharaman.