India-Bangladesh Current Affairs - 2019

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Union Cabinet gives nod to MoU with Bangladesh for operation of traditional haats

The Union cabinet has given its ex-post-facto approval to Memorandum of Understanding (MoU) with Bangladesh for Mode of Operation of Border haats on India-Bangladesh Border signed in 2010.

The MoU also seeks to establish new Border Haats along the border after identification of suitable locations in consultation with Bangladesh Government and concerned State Governments.

What are Border Haats?

  • The Border Haats in Indian Language means Rural Market. It aims at promoting the well-being of the people dwelling in remote areas across the borders of two countries.
  • It seeks to establish traditional system of marketing the local produce thorough local markets in local currency or according to barter basis.
  • Though the trade carried in this informal market is not significant in terms of percentage of bilateral trade, but these local measures help to improve economic well-being of marginalised sections of society.

Background

  • Border haats along the border of two countries are established under a MoU signed for Border Trade and Border Haats in October 2010.
  • As per the rules and guidelines of this MoU, traders in communities of both India and Bangladesh can trade their local produce without any duty.
  • It allowed to trade people living in border areas in specified products in accordance with the regulations agreed and notified by both Governments.
  • Presently 4 Border Haats are already operational along India-Bangladesh border. They are (i) Kalaichar (Meghalaya). (ii) Balat (Meghalaya). (iii) Kamlasagar (Tripura) (iv) Srinagar (Tripura).
  • In addition, both Governments also have agreed to further establish 2 Border Haats in Tripura and 4 Border Haats in Meghalaya along the border.

Month: Categories: National

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SEBI, Bangladesh SEC ink MoU on bilateral cooperation

Securities and Exchange Board of India (SEBI) and Bangladesh Securities and Exchange Commission (BSEC) have signed a MoU on bilateral cooperation and technical assistance.

The MoU was signed by SEBI chairman U K Sinha and BSEC Chairman M Khairul Hossain in the presence of Prime Minister of Bangladesh Sheikh Hasina Wazed,.

Key facts

  • The MoU seeks to promote further development of economic links and cooperation between the two neighbouring countries.
  • It also aims at enhancing investor protection and creating conditions for effective development of securities markets in both countries.
  • It will further ease the training and technical assistance programme between the two different market jurisdictions.
  • The MoU was signed by SEBI as part of its active engagement with the equities and commodities markets regulators in the SAARC region.
  • So far, the equities and commodities market regulator SEBI has signed 20 such bilateral MoUs with other countries.

Month: Categories: Business, Economy & Banking

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