Presidential assent to Rajiv Gandhi National Aviation University Bill, 2013

The Rajiv Gandhi National Aviation University Bill, 2013 has received the assent of the President of India. It has now been published in the Gazette of India.

What the Rajiv Gandhi National Aviation University Bill, 2013 is all about?

The Bill proposes to create a central university to be named as Rajiv Gandhi National Aviation University on 26 acre plot at the Indira Gandhi Rashtriya Udaan Academy Rae Bareli in Uttar Pradesh. The university will be an autonomous body under administrative control of the Civil Aviation Ministry. The university would promote aviation studies, training and research and the focus would remain on the emerging areas such as aviation medicine, aviation safety and security, aviation law, aviation science and engineering, aviation history, aviation regulation and policy and aviation management. The University will also be a knowledge partner to safety and security regulators by providing required academic inputs to help them execute their enforcement responsibility better.

The Bill proposes that although the airports in India will be owned by the Airports Authority of India, but the construction or development of the airports which are existing, shall be undertaken on the basis of Public-Private Partnership (PPP).

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RBI relaxes for opening new bank branches in Tier I cities

Now banks will have freedom to open branches in tier-I cities (those with population over 1 lakh) without seeking RBI’s approval in each case.

However, as per RBI guidelines, there are some conditions on opening branches, these are stipulated below:

  • Banks should open 25% of their branches in a financial year in Un-banked tier-V and tier-VI centres as earlier.
  • Total number of branches in tier –I centre’s can’t exceed the number of branches opened in tier-2 to tier-6 centres during a year.
  • If the banks are unable to open all tier – 1 branches during that year, they can carry it over for next 2 years.
  • If the banks unable to open requisite branches in tier- II to tier- VI centres for some reason, it should necessary correct the shortfall in the next financial year.

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