 The Reserve Bank of India (RBI) set up an expert committee under former Sebi chairman U.K. Sinha to suggest long-term solutions for the economic and financial sustainability of the MSME sector. The eight-member committee will also examine the factors affecting the timely and adequate availability of finance to the sector. RBI has announced the panel a day after it allowed a one-time restructuring of existing debt up to INR 25 crore for the micro, small and medium enterprises (MSMEs) which have defaulted on payment but the loans given to them have continued to be classified as standard assets. |
| Source: The Livemint |
 The country achieved yet another milestone in the power sector with the completion of electrification in 100% households in 25 states at year end. Now, only about 10.48 lakh households are left to be electrified in 4 states – Assam, Rajasthan, Meghalaya andChhattisgarh. These states are also taking all concerted efforts to achieve, at the earliest, saturation of household electrification. Since the launch of Saubhagya, in the state of Uttar Pradesh, 74.4 Lakh willing households have been electrified and state government has declared saturation of all 75 districts. |
| Source- DD News |
 The Reserve Bank of India (RBI) appointed former governor Bimal Jalan as the chairman of the Economic Capital Framework (ECF) committee formed to address the issue of excess reserves with the central bank. Former RBI deputy governor Rakesh Mohan has been appointed the vice-chairman of the committee. Other members include Bharat Doshi, Sudhir Mankad, Subhash Chandra Garg, and N.S. Vishwanathan. The committee will decide whether RBI is holding provisions, reserves, and buffers in the surplus or deficit of the required levels. It will submit its report within 90 days of the first meeting. |
| Source- The Livemint |
 The government has constituted a seven-member panel to select managing directors of public sector insurance companies. The panel would be headed by Banks Board Bureau (BBB) chairman B P Sharma. The other members of the panel are Financial Services Secretary, Department of Public Enterprises Secretary and Chairman of Insurance Regulatory and Development Authority of India. Besides, three insurance sector experts G N Bajpai, Mathew Varghese and T Bhargava — have been appointed on the selection panel. |
| Source- The Economic Times |
 The government has constituted a Group of Ministers (GoM) headed by Finance Minister Arun Jaitley to vet the recommendations of a high-level panel on stressed power projects. The panel, headed by Cabinet Secretary P K Sinha, had submitted its report in November 2018. The other members of the GOM are Road Transport Minister Nitin Gadkari, Commerce Minister Suresh Prabhu, Oil Minister Dharmendra Pradhan, Railways Minister Piyush Goyal and Power Minister R K Singh. |
| Source- The Economic Times |
 The Centre included Gangotri and Yamunotri in Uttarakhand, Amarkantak in Madhya Pradesh and Parasnath in Jharkhand under a central scheme to develop pilgrimage and heritage destinations in the country, a tourism ministry statement stated. With the new additions, the number of sites under the Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASAD) launched by the ministry in 2014-15 has now become 41 in 25 states. |
| Source: Business Standard |
 Delhi Chief Minister Arvind Kejriwal launched the ‘Mukhyamantri Tirth Yatra Yojana’ which offers free travel packages for senior citizens from Delhi to five religious circuits. 1,100 senior citizens from every constituency of Delhi will be able to avail this facility at one go. Under this free pilgrimage scheme, a Delhi resident above 60 years will be eligible to take free pilgrimage along with his or her spouse. |
| Source- NDTV News |
 Jammu and Kashmir Governor Satya Pal Malik launched the ambitious “Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)” scheme which would benefit over 31 lakh residents in the state. The governor distributed golden cards among 10 eligible beneficiaries for availing the annual health cover facility, marking the launch of the scheme in the state. |
| Source- Business-Standard |
 8 more States have achieved hundred percent household electrification under “Pradhan Mantri Sahaj Bijli Har Ghar Yojana- Saubhagya”. The states are Madhya Pradesh, Tripura, Bihar, Jammu and Kashmir, Mizoram, Sikkim, Telangana, and West Bengal. 15 States now have 100 percent household electrification, according to Power Minister RK Singh. The government is hopeful of achieving the same for every household across the country by December-end. The scheme was launched in September last year with the objective to provide access to electricity to all the remaining households in the country. The Minister informed that as many as 2.1 crore connections have been released under Saubhagya so far. |
| Source- The Hindu Business Line |
 The government has launched a unique initiative called Bhasha Sangam to introduce school students to 22 Indian languages. The initiative, under Ek Bharat Shreshtha Bharat, was active for the period between 22nd November – 21st December. Bhasha Sangam is a programme for schools and educational institutions to provide multilingual exposure to students in Indian languages. Another objective of Bhasha Sangam is to enhance linguistic tolerance and respect and promote national integration. |
| Source: News on AIR |
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