Daily News


No-frills a/c holders pay heavy penalty for exceeding withdrawal limit

No-frills account holders face a penalty for exceeding the limit of four withdrawals in a month.

Several banks are using the 5th debit as a trigger to convert the Basic Savings Bank Deposit Account (BSBDA) into a regular one.

Did you Know

The feature of BSBDA- basic banking services like money transfer and savings can be availed with a simplified KYC norm.

The account can be started and maintained with a nil balance. Under PMJDY also, the bank account offered is BSBDA.

No charges are levied for maintaining no-frills account or BSBDA in a bank.

Presently there are about 54 crore BSBDAs have been opened through branches and Business Correspondent (BC) points, of which, more than half have been opened under PMJDY.


Parties out of purview of RTI Act: EC

Political parties are out of the purview of the RTI Act.

Demand- Central Information Commission (CIC) to bring six national parties under the law.

Pune-based Vihar Dhurve had sought to know through RTI the details of donations collected by the six national parties- the BJP, Congress, BSP, NCP, CPI, CPM and the Samajwadi Party through newly introduced electoral bonds.

Did you Know

EC is an autonomous constitutional authority responsible for administering election processes in India.

Formed- 25 January 1950 (Later celebrated as National Voters Day).

Chief Election Commissioner of India- Om Prakash Rawat, IAS.


Tripura to phase out plastic bags

Tripura government has set August 15 as the deadline to phase out plastic bags.

The government, as part of the ‘Himalayan Cleanup’ programme, urged people to replace their plastic bags with biodegradable ones.

The campaign has been launched by a Delhi-based organisation in 12 mountain States in the country to end plastic pollution in the hilly areas.

Did you Know

Capital: Agartala

Chief Minister- Biplab Kumar Deb

Governor- Tthagat Roy


We built 27 km of highways a day: PM

PM Narendra Modi inaugurated the 135-km Eastern Peripheral Expressway (EPE).

It will channel away traffic not destined for Delhi and reduce vehicular pollution in the national capital.

The six-lane expressway cost Rs. 11,000 crore.

PM also unveiled the first phase of the 82-km Delhi-Meerut Expressway.

This is 14-lane stretch.

Did you Know

Road Transport and Highways Minister- Nitin Gadkari

The expressway is part of a project that also includes the Western Peripheral Expressway (WPE), and the two together form a circle around Delhi.

EPE will connect Kundli with Palwal in Haryana, via Ghaziabad and Greater Noida in Uttar Pradesh.

Expressway will reduce 27% pollution and ease 41% traffic jam in Delhi.


Ireland's abortion laws

Voting was done in Ireland for the law on Abortion.

66.4% people agreed on the Abortion Law.

Abortion can be done-

Up till 12th week of pregnancy

Between 12th – 24th week if there are any issues with the fetus.

Did you Know

Savita Halappanavar died six years ago due to a Dublin hospital’s refusal to terminate her pregnancy.

Despite knowing that an abortion could save her life, hospital authorities in Ireland had refused to opt for it, citing religious reasons.

Ireland passed a law legalising abortion in case of medical emergencies.


EPFO cuts admin charges; firms to save Rs 900 crore

Employees’ Provident Fund Organisation (EFPO) decided to cut administrative charges with effect from June 1, 2018.

With this, more than five lakh employers together will save about Rs. 900 crore annually.

The EPFO decided to cut charges to 0.50% from 0.65% of total wages paid by the employers.

Did you Know

EPFO is an Organization tasked to assist the Central Board of Trustees, a statutory body formed by the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative control of the Ministry of Labour and Employment, Government of India.


36 firms line up to go public

Three dozen companies have lined up initial share sale plans worth ₹35,000 crore largely to fund expansion projects and working capital requirements.

These include six state-run entities — Indian Renewable Energy Development Agency, Rail Vikas Nigam, IRCON International, RITES, Garden Reach Shipbuilders and Engineers and Mazagon Dock.

Plan to utilize the initial public offer (IPO) proceeds for business expansion as well as working capital requirements, as per draft papers filed with SEBI.

Did you Know

IPO is the very first sale of stock issued by a company to the public.

Prior to an IPO, the company is considered private, with a relatively small number of shareholders made up primarily of early investors and professional investors.


Rustom-2 drone to be delivered to armed forces by 2020

The Rustom-II Unmanned Aerial Vehicle (UAV), which is being developed by DRDO will be delivered to the armed forces by 2020.

Did you Know

The drone is being developed for use by all three services of the Indian Armed Forces, primarily for intelligence, surveillance, and reconnaissance (ISR) operations.

The medium-altitude prototype can fly at over 22,000 feet and is a long-endurance UAV that has a 20 hours approximate flight time.


NITI's Women Entrepreneurship Platform

Actor-turned entrepreneur Sushant Singh Rajput will promote NITI Aayog's Women Entrepreneurship Platform (WEP).

It was launched to establish an enabling ecosystem for women across India.

The actor will endorse the Women Entrepreneurship Platform and encourage the use of Bharat Interface for Money (BHIM) application by appearing in various video, print and social media campaigns of NITI Aayog.

Did you Know

NITI Aayog's Women Entrepreneurship Platform (WEP) was launched on March 8, 2018, on the occasion of the International Women's Day.

It aims to power a vibrant entrepreneurial ecosystem through an enabling network of industry collaborations, partnerships, mentors and peer-to-peer connect.


Indian Premier League- T20

The Chennai Super Kings defeated Sunrisers Hyderabad by 8 wickets to clinch their third Indian Premier League title.

In the VIVO IPL 2018 Final played at the Wankhede Stadium, Shane Watson’s belligerent hundred powered CSK’s chase of 179.

Did you Know

IPL is a professional Twenty20 cricket league in India contested during April and May of every year by teams representing Indian cities and some states.