Current Affairs – June, 2015

Latest Current Affairs June, 2015 with Current Affairs, news summary on current events of National and International importance of June, 2015 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Union Government cancels licences of over 2,000 NGOs

Union Government recently has cancelled the licences of over 2000 Non-Governmental Organisations (NGOs) across the country.

The decision to cancel the registration of these NGOs was taken by the Union Home Ministry. The registration was cancelled after these entities failed to submit their annual returns and in view of other anomalies under the provisions of Foreign Contribution Regulation Act (FCRA), 2010.

Prior to cancellation of registration, all these organisations were given proper notice by the Foreigners’ Division of the Home Ministry with adequate time to reply.

It should be noted that Maharashtra tops the list with the cancellation of licences of 964 NGOs followed by Uttar Pradesh with 740 and Karnataka with 614. The licences of 88 NGOs were cancelled in Tamil Nadu.

Earlier licences of nearly 13 thousand NGOs were cancelled in two rounds of crackdown for alleged violation of FCRA, 2010. Thus, with this cancellation, these NGOs now would not be able to receive foreign funds.

As per the mandatory provisions of FCRA, 2010 it is necessary for every registered NGO to submit its returns annually, irrespective if they have or not received foreign funding in that particular year.

India emerges as third largest FDI source for United Kingdom

India has emerged as the third largest Foreign Direct Investment (FDI) source for United Kingdom (UK) in 2014-15.

It was revealed in recently released report Inward Investment Report 2014-15 of UK Trade and Industry (UKTI). This FDI source was based in terms of number of projects i.e. source of inward investment.

US has remained the largest source of inward investment for UK with a total of 564 projects in 2014-15 and was followed by France (124 projects) and India (122 projects).

During the year 2014-15, the FDI from India increased by 65 per cent and has resulted in creation of 7,730 jobs as well as protection of 1,620 jobs in UK. Sector wise Indian companies had invested in healthcare, agriculture-technology, food and drink.

As per the report, 70 countries have invested a record 1 trillion pounds in UK in 2014-15 making it Europe’s top FDI destination.  It also has mentioned that UK has attracted 12 per cent more FDI projects compared to the previous year i.e. 2013-14.