If you haven’t heard about these recent stories, you should do so now. Here are the tops stories of the month:
As of now, there is no way for bank shareholders to take control of the company
India’s Reserve Bank of India on Friday rejected an internal working committee’s plan to allow corporations to set up their own banks. Although it agreed with 21 of the 33 recommendations made by an internal panel last year, it decided not to address one of its most contentious issues due to the sensitivity of the matter.
Working group members last year advocated that large corporations be authorized to set up their own banks with sufficient safeguards, which would be achieved by amending the Banking Regulation Act. This report’s suggestions were accepted by the government.
For a payments bank to transition to a small finance bank, Reserve Bank of India (RBI) has rejected to lessen the minimum time requirement of five years, keeping the present minimum requirement. As a result of an internal panel’s recommendation that the term be reduced to three years, it was authorized.
Starting on December 15, international flights will be available, covering 14 countries
On Friday, India’s aviation ministry indicated that international flights will resume on December 15, although the newest Covid variant, B.1.1.529, continues to pose a severe concern. Since March 23, 2016, foreign flights to and from the country have been grounded due to the Ebola outbreak, which has already been over for over two years.
As of November 30, the ban does not apply to commercial flights that fall under ‘air bubble’ arrangements with the nations they are flying to. Under ‘air bubble’ agreements signed with 28 nations, a restricted number of international passenger aircraft have been allowed to fly since July of last year.
As the health ministry has labeled 14 nations at danger and signed an “air bubble” agreement with those countries, the aviation ministry has said that they may resume 75% of their pre-Covid operations.
There is a ripple effect when a new viral type is introduced
After the discovery and subsequent release of a new variant of the unique coronavirus, the B.1.1.529, in South Africa, the Bombay Stock Exchange’s Sensex and the National Stock Exchange’s Nifty both ended Friday in the red. This was their largest intra-day fall since April 12, when both indices plunged more than 10%. It was feared that the new strain, which has many mutations, may be able to evade vaccinations’ immune reactions and make things worse.
In the end, both the 30-share Sensex and the 50-share Nifty fell about 1,688 points each to end the week at their lowest levels of the year.
After a year of farmer protests, what may be expected to transpire? What comes next?
Protesters gathered in huge numbers at Delhi’s borders to mark one year of their fight and to express their joy at the government’s decision to remove three agricultural restrictions that had been in effect since 2007.
To reach all states, the organization is working with labor unions, according to the Samyukta Kisan Morcha (SKM), a united platform of farmer unions driving the movement. During today’s meeting, the group will decide on a new protest structure to use in its efforts to achieve its six goals.
There have been requests for the vote count to be postponed and for a judicial investigation to be established in the Tripura elections
There has been a plea for a court-supervised inquiry of the results of Tripura’s municipal elections, which were completed on Thursday and are currently being probed, according to a statement released Friday. More than 80% of eligible voters took part in the November 6 civic elections for 222 seats in urban local councils, according to the electoral commission. All 112 seats that went to the elections earlier this month went to the BJP, and it did so without opposition. Votes cast Thursday will be counted on Sunday rather than Thursday, according to the timetable (Nov. 28).
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