Daily GK Potion – 18th January 2016

  1. NITI Aayog, IDFC Institute to conduct survey on ease of biz
    • NITI Aayog and IDFC Institute will jointly conduct a survey of manufacturing companies, including startups, across India as part of ease of doing business enabler.
    • The National Institute for Transforming India (NITI) Aayog said the objective of the survey is to assess the business regulatory environment in each state and union territory (UT). “It also seeks to identify policy and regulatory hurdles faced by businesses in the states/UTs,” the Aayog said.
    • The NITI Aayog-IDFC Institute Enterprise survey will complement the government’s ‘Make in India’ initiative by taking stock of issues faced and providing impetus for state-level reforms that will make it easier to do business in India, while fostering competitive and cooperative federalism, said the Aayog.
    • India ranks 130 out of 189 countries in the World Bank’s report on ease of doing business.
  2. India’s Dinesh Sharma elected to board of directors of China-backed AIIB
    • India, one of the founding members of the AIIB, has been elected to the board of directors of the China-sponsored Asian Infrastructure Investment Bank which is expected to begin loan approvals before the end of this year.
    • Dinesh Sharma, Additional Secretary of Ministry of Finance has been elected to the 12-member board for which a secret ballot was held yesterday
    • This will be the first board of directors for the new bank in which 57 members joined a founding members
    • Finance Minister Arun Jaitley is the designated governor of the AIIB from India.
    • With authorised capital of USD 100 billion and subscribed capital of USD 50 billion, AIIB will invest in sectors including energy, transportation, urban construction and logistics as well as education and healthcare.
    • China is the largest shareholder with 26.06 per cent voting shares. India is the second largest shareholder with 7.5 per cent followed by Russia 5.93 per cent and Germany with 4.5 per cent.
  3. Delhi Acers beat Mumbai Rockets to clinch maiden Premier Badminton League title
    • A high-octane action coupled with Bollywood star quotient kept the spectators enthralled in the final of the Premier Badminton League between Delhi Acers and Mumbai Rockets
    • The city team, didn’t disappoint a sizeable crowd at the Siri Fort Sports Complex as it clinched the title beating Mumbai 4-3 in an exciting tie.
  4. U.S. lifts sanctions; Iran comes in from the cold
    • The United States on Saturday removed a wide range of sanctions against Iran after International Atomic Energy Agency (IAEA) confirmed that Tehran has met its commitments to roll back its nuclear programme, under an agreement with China, France, Russia, the United Kingdom, the U.S and Germany on July 14, 2015.
    • The U.S has only removed secondary sanctions that restrict the dealings of other countries with Iran. Primary sanctions that bar U.S citizens and companies from business with Iran will remain.
    • The removal of restrictions on its oil, petrochemicals, banking, natural gas and port sectors will hugely benefit Iran and allow it to reenter the global market.

Read next : Daily GK Potion – 19th January 2016 ››
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