Cabinet Decisons Current Affairs - 2020

India-Myanmar MoU on bilateral cooperation for Prevention of Trafficking in Persons

Union Cabinet has approved the Memorandum of Understanding (MoU) signed between India and Myanmar on bilateral cooperation for Prevention of Trafficking in Persons; Rescue, Recovery, Repatriation and Re-integration of victims of Trafficking. The cabinet was chaired by Prime Minister Narendra Modi. Key Highlights of MoU Objective: To increase bilateral cooperation on the issues of prevention, Read More…

Cabinet approves establishment of National Financial Reporting Authority

The Union Cabinet approved establishment of National Financial Reporting Authority (NFRA) as an independent regulator for the auditing profession. It aims to tighten regulatory oversight over auditors and plug loopholes. It will be independent from those it regulates for enforcement of auditing standards and ensuring quality of audits. National Financial Reporting Authority (NFRA) NFRA will Read More…

Cabinet approves MoU between India and Japan in field of Silk Industry

The Union Cabinet has approved Memorandum of Understanding (MoU) between India and Japan for collaborative research in the field of silkworm and silk industries. The MoU was signed between Central Silk Board (CSB), India and National Institute of Agrobiological Sciences (NIAS), Japan in November 2016. Key Facts The MoU was of scientific and technological nature. Its Read More…

Union Cabinet approves ordinance to pay salaries by cheques

The Union Cabinet has approved a draft ordinance to empower states and allow industries to pay workers’ wages digitally, through a direct bank transfer to accounts or by cheque in a bid to encourage cashless transactions. The draft ordinance proposes changes to the Section 6 of the Payment of Wages Act, 1936 to encourage cashless Read More…

CCEA approves winding up of Hindustan Diamond Company Private Limited

The Cabinet Committee on Economic Affairs (CCEA) has given its approval for initiating the process of winding up of Hindustan Diamond Company Private Limited (HDCPL). The winding up of HDCPL will not affect supply of rough diamonds to Indian diamantaires as Indian diamond industry has grown in these years. Besides, the HDCPL had become inconsistent Read More…