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CURRENT AFFAIRS CAPSULE – 05 JULY 2019

July 5, 2019
Posted by: Team CP
Category: Current Affairs Capsule

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India has ratified Multilateral Convention to Implement Tax Treaty Related Measures (MLI) to prevent Base Erosion and Profit Shifting (BEPS). It will pave way for amendments to double taxation avoidance agreements (DTAA) with countries signatories to convention to plug revenue leakages. The provisions enshrined in framework will come into effect from fiscal year 2020-21 for bilateral tax treaties.
Reserve Bank of India (RBI) constituted a 6-member working group chaired by Tapan Ray, non-executive chairman, Central Bank of India and former Secretary in Union Ministry of Corporate Affairs (MCA) to review regulatory guidelines and supervisory framework for Core Investment Companies (CIC). It will examine current regulatory framework for CICs in terms of efficacy, adequacy and effectiveness and will also suggest changes.
Delhi Police and Solar Energy Corporation of India (SECI) signed Memorandum of Understanding (MoU) to set up Rooftop Solar Energy Systems in more than 200 of its buildings across the city. Under this green initiative project, Rooftop Solar Systems of total capacity of about 3-4 MW will be implemented. SECI is a company under Union Ministry of New and Renewable Energy (MNRE).
The United States Senate (Upper Chamber of US Congress) has passed a legislative provision called National Defense Authorisation Act that brings India at par with America’s NATO (North Atlantic Treaty Organization) allies and countries like South Korea, Australia, Japan and Israel for increasing defence cooperation.
Council of Scientific and Industrial Research (CSIR)-Centre for Cellular and Molecular Biology (CCMB) and Centre for DNA Fingerprinting and Diagnostics (CDFD) signed a MoU to improve understanding and to enable better ways diagnosis and treatment of human genetic disorder. Every year more than 50lakh babies are born with genetic disease in India.
Germany’s Ursula von der Leyen was appointed by European Union (EU) leaders as bloc’s next Chief Executive i.e. European Commission president. She will succeed Jean-Claude Juncker. She is Chancellor Angela Merkel’s defense minister and fellow conservative party member. European Commission is an institution of European Union (EU) that was founded on 1 January 1958.
Supreme Court bench of Justice Ashok Bhushan and Justice K M Joseph has directed Meghalaya state government to deposit Rs.100 crore fine imposed on it by National Green Tribunal (NGT) for failing to curb illegal coal mining with Central Pollution Control Board (CPCB). It also ordered to hand over illegally extracted coal to Coal India Limited (CIL) which will auction it and deposit the funds with state government.

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