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E-Challan & Receipt (ECR) Facility Launched   

Union Minister of Labour & Employment Mallikarjun Kharge inaugurated the E-Challan and receipt (ECR) facility on 1 May 2012 to bring transparency and accessibility for employers in depositing monthly employees Provident Fund or EPF contributions of their workers. Employees under the ECR service would have to register their organisations online and generate challans for making monthly deposits. They can use these challan for either electronically or physically depositing the provident fund or PF contribution to the bank.

Union Government Decided To Include Chit Funds Under The Chit Fund Act      

 Union Government decided to include chit funds, an informal pooling of funds from individuals for lending under the chit fund Act of 1982 in six states including Gujarat and Kerala. The decision was meant to help people access the dispute settlement mechanism. Nagaland, Haryana Tripura and Arunachal Pradesh are the other states to come under the Act, providing a cushion for small savers who are at the mercy of local operations of the six states brought under the central ruling, only Kerala operated under the Kerala chit Act of 1975. The other five states had no laws to regulate chit fund operations.

Indian Americans in Forbes List of Best Tech Investors

Forbes Magazine recently came up with the list of Technologies best investors among which nine are Indian Americans . These influential apersonalities have been successful in creating wealth and funding innovative ideas that help to keep our economy vibrant.Anil Bhasuri, Rob Chandra, Sameer Gandhi, Vinod Khosh, Neeraj Agrawak, Navin Chaddha, Ajay Agarwal, Asheen Chandra and Subrata Mitra are the best Tech investors on the forbes list.

Fianace Minister Pranab Mukherjee was Elected As Chair Of ADB’s Board Of Governor

Union Finance Minister Pranab Mukherjee on 4 May 2012 was elected as Chair of the Asian Development Bank’s (ADB) Board of Governors. India will host the 46th annual meeting of the Asian Development Bank in New Delhi in 2013. Though India was the founding member of the ADB in 1966, the lending  operations in India began two decades late.

Tata Group Among 10 Best Companies for Leadership in Asia 

The Tata Group is at the  fifth position among the ten best companies for leadership in Asia list , according to study by management consultancy Gaint Hay Group. The topped company in the list is Samsung group followed by Tayota Motors and Unilever at the second and third positions . The study said that innovation was the prime factor hat made Tata Groups to find place among the top names in Asia . Others in the top 10 in Asia are Nestle, IBM Corp, Sony Corp, Procter & Gamble , Coca- Cola and Petronas. Among the global best leadership companies are General Electric as at the top followed by Procter 7 Gamble, IBM, Microsoft and Coca- Cola.

Report Placed India On Fifth In Cyber Crime 

India, according to a report published by the Security and Defence Agenda (SDA) and McAfee on 6 May 2012, ranked fifth in the list of countries affected of Cyber Crime. The report cyber security, The Vexed Question of Global Rules, rated the internet privacy in the country as low. Brussels based SDA spoke to leading global security exports to ensure that findings would offer useful recommendations and actions.

Bihar C.M Nitish Kumar Took Oath As Member of BLC    

Bihar Chief Minister Nitish Kumar, Deputy Chief Minister Sushil Kumar Modi, former chief minister and RJD leader Rabri Devi sworn in as members of the Bihar Legislative Council on 7 May 2012. The leaders were administered oath by state Legislative Council chairman Salim Parvej.

Qualcomm Recieved The Broadband Wireless Access Spectrum

Qualcomm, the US chipmaker received the Broadband Wireless Access(BWA) spectrum on 8 May 2012 by the Department of Telecommunications ( DoT). The DoT however, reduced the company’s period of licence use to 18.5 years from 20 years as mentioned in the licence agreement. The time period to meet the rollout obligations was also reduced from 5 to 3.5 years.

The Union Cabinet Approved the 7.6 Billion Dollar TAPI Gas Pipeline Project (TGPP) 

The Union Cabinet Approved the 7.6 Billion Dollar TAPI Gas Pipeline Project (TGPP) on 17 May 2012. The TAPI gas pipeline project which organization from the central Asian Nation Turkmenistan and reaches to India via Afghanistan and Pakistan is also referred to as the “Peace Pipeline” as some of the countries that it passes through don’t enjoy good relationship with each other. The TAPI gas project will have a total length of 1680 km of the total length 144 km will be in Turkmenistan, 735 km in Afghanistan and 800 km in Pakistan, bringing it to the Indian borders. The pipeline, will be entirely functional in 2018 and supply gas over the next thirty years.

6th Best University in Country  

Osmania University has been ranked Sixth among India’s best Universities as per as survey conducted by the India Today-Nielsen dor 2012 . The varsity was Ranked seventh last year.

Report on Status of Implementation of SCs and STs Act 1989 Released 

The report on the status of implementation of SCs an d STs ( prevention of Atrocities) Act 1989 and Rules 1995 was released by the first Dalit chief Justice of India, Justice K.G.Balakrishna on 18 May 2012. The report was prepared by the National Coalition after collecting evidence by visiting the places of incidents and talking to victims across India for strengthening SCs and STs( Prevention of Atrocities ) Act. The report revealed substantial increace in cases of violence against SCs and Sts. It also highlighted loopholes in the implementation of the SCs and ST s Act and agreed that it has not been able to check atrocities against Dalits and Adivasis in an affective manner.

Andhra Pradesh High Court set aside 4.5 Per Cent Sub-Quota for Minorities  

The Andhra Pradesh High Court on 28 May 2012 invalidated the 4.5 per cent sub-quota for minorities carved out of the 27 per cent reservation for OBCs by the Union government.A high court division bench of Chief Justice Madan Lokur and Justice P VSanjay Kumar quashed the sub-quota as it observed that the Union government’s move was based on religious lines and not any other consideration.The court was hearing to a Public Interest Litigation (PIL) filed by backward classes leader R Krishnaiah against the sub-quota.

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