AspirantWorld One liners : 21st May

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• The Government of India has decided to bring various amendments to the Insolvency and Bankruptcy Code (IBC) and Companies Act, 2013 to enhance ease of doing business in the country. The minimum threshold to initiate insolvency proceedings has been raised to Rs.1 crore from Rs.1 lakh.

• The Government of India has launched a scheme for 100% solarisation of Konark sun temple and Konark town in Odisha. The Konark temple was Built in the 13th century by King Narasimhadeva I, the great ruler of the Ganga dynasty. The temple was included in the UNESCO World Heritage Site in 1984 for its architectural greatness.

• The Indian Railways has operationalized its first 12,000 hp electric locomotive named WAG12. India became the sixth country in the world to produce high horsepower locomotive indigenously.

• United Nations Office on Drugs and Crime (UNODC) recently released the report on “Synthetic Drugs in East and Southeast Asia”. The report highlighted movement restrictions due to the COVID-19 pandemic that may lead to an initial statistical reduction in drug seizures (confiscation) but hardly any change in the long term.

• The Haryana government has launched the ‘H1N1 Vaccination Campaign for Healthcare Workers’ and Hepatitis-B control programme. The health workers are already facing the risk of Covid-19 while managing the pandemic.

• The Union Cabinet has given its approval for the Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs and MUDRA borrowers. Under the Scheme, 100% guarantee coverage to be provided by National Credit Guarantee Trustee Company Limited (NCGTC) for additional funding of up to Rs. 3 lakh crore.

• The banking sector is pushing for a moratorium on loan repayments by another three months to 31st August, easing of bad loan (Non-Performing Assets) recognition norms from 90 days to 180 days and one-time restructuring of loans.

• The Pradhan Mantri Vaya Vandana Yojana (PMVVY) pension scheme, meant for senior citizens, has now been extended till March 31, 2023.

• The Cabinet in its meeting held today approved the “Pradhan Mantri Matsya Sampada Yojana – A scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India” with the highest ever investment of Rs. 20 thousand crores in the fisheries sector.

• Researchers at the Indian Institute of Technology-Guwahati (IIT-G) have found methods for preventing the accumulation of neurotoxic molecules in the brain, which leads to Alzheimer’s disease.

• International Tea Day (ITD) is being celebrated by the United Nations on 21st May. Food and Agriculture Organization (FAO) will lead the observance of the Day.

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