Edristi Current Affairs Feb-2017

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Re-organisation of the Central Board of Excise & Customs (CBEC)

Re-organisation of the Central Board of Excise & Customs (CBEC)

Question: Central Board of Excise & Customs (CBEC) is being renamed as…
(a) Central Board of Indirect Taxes & Customs (CBIC)
(b) GST Implementation wing
(c) Indirect Taxes and Customs Board of India
(d) None of the above.
Ans: (a)

  • On 25th March, 201, Union Finance Minister, Shri Arun Jaitley approved re-organisation of the field formations of the Central Board of Excise & Customs (CBEC).
  • Changes are being incorporated with a view to the implementation of Goods & Services Tax (GST).
  • The existing formations of Central Excise & Service Tax under the CBEC have been re-organised to implement and enforce the provisions of the proposed Goods & Services Tax Laws.
  • The Central Board of Excise & Customs (CBEC) is being renamed as the Central Board of Indirect Taxes & Customs (CBIC), after getting legislative approval.
  • The proposed CBIC shall, inter alia, supervise the work of all its field formations and Directorates and assist the Government in policy making.
  • The CBIC will have 21 Zones, 101 GST Tax payer Services Commissionerates comprising 15 sub-Commissionerates, 768 Divisions, 3969 Ranges, 49 Audit Commissionerates and 50 Appeals Commissionerates.
  • This will ensure rendering of taxpayer services to all the taxpayers through an indirect tax administration structure, having pan-India presence
  • The existing training establishment, to be renamed as National Academy of Customs, Indirect Taxes and Narcotics will have an all India presence, to enable capacity building.
  • The renamed Directorate General of Goods & Service Tax Intelligence is also being strengthened and expanded to contribute in fight against Tax Evasion and Black Money.

Reference:
http://indiatoday.intoday.in/story/cbec-to-be-renamed-cbic-under-gst-regime/1/912591.html
http://pib.nic.in/newsite/PrintRelease.aspx?relid=159936

National Commission for Socially and Educationally Backward Classes

National Commission for Socially and Educationally Backward Classes

Question: When was National Commission for Backward Classes established?
(a) 14 August, 1993
(b) 6 December, 1992
(c) 15 April, 1991
(d) None of the above.
Ans: (a)

  • On 23rd March, 2017, the Union Cabinet approved a National Commission for Socially and Educationally Backward Classes (NSEBC) as a constitutional body.
  • The new panel will replace National Commission for Backward Classes (NCBC) that looks into inclusion or exclusion of other backward castes for quotas, among other issues.
  • The related bill is likely to be introduced in Parliament in the ongoing budget session.
  • By making the new panel a constitutional body, the advice of the commission shall ordinarily be binding upon the central government.
  • National Commission for Backward Classes is an Indian statutory body under the Ministry of Social Justice and Empowerment established on 14 August 1993. It was constituted pursuant to the provisions of the National Commission for Backward Classes Act, 1993.

Reference:
http://www.hindustantimes.com/india-news/govt-approves-new-national-constitutional-body-for-obcs-with-binding-recommendations/story-xLJCFFXUd5gzFSbyxrmeCK.html
http://www.ncbc.nic.in/User_Panel/UserView.aspx?TypeID=1114

Bharatiya Mahila Bank to be merged with SBI

Bharatiya Mahila Bank to be merged with SBI

Question: Bharatiya Mahila Bank is a …
(a) Private sector bank
(b) Public sector bank
(c) based on PPP
(d) None of the above.
Ans: (b)

  • According to a press release by the Finance Ministry dated 20th March, 2017, the Government of India has decided to merge the Bharatiya Mahila Bank with the State Bank of India to ensure greater banking services outreach to women.
  • This will help in achieving the objectives of affordable credit to women as at fast pace.
  • The decision to merge Bharatiya Mahila Bank with SBI has been taken in view of the advantage of the large network of SBI among other things.
  • In the three years since Bharatiya Mahila Bank was established, it has extended loans of Rs 192 crores to women borrowers, while the SBI group has provided loans of about Rs.46,000 crore to women borrowers.
  • SBI has a large outreach of more than 20,000 branches and lowest cost of funds in the sector. Out of the total workforce of around 2 lakh employees in SBI, 22% are women. SBI group already has 126 exclusive all-women branches across the country while Bharatiya Mahila Bank has only seven.
  • The proportion of administrative and managerial cost in Bharatiya Mahila Bank is much higher to reach the same coverage. For the same cost, a much higher volume of loans to women could be given through SBI.
  • It is to be noted that Bharatiya Mahila Bank Ltd is the first of its kind in the Banking Industry in India formed with a vision of economic empowerment for women. This public sector bank was incorporated under the Companies Act 1956 on 5 August 2013. It is headquartered in New Delhi.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=159575

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