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Important Current Affairs 19th April 2020

National

Government revises FDI Policy, bar automatic investments from neighbouring countries

• The Central Government revised the FDI policy making it difficult for overseas investment from neighbouring countries into Indian firms. 

• The revised rules of FDI policy are applicable only to the countries that are in India’s neighbourhood and share a common land border with India. This includes China and other nations such as Nepal, Bhutan and Myanmar.

• According to reports, the changes in India’s FDI policy are in line with similar measures undertaken by many European countries which aims to restrict foreign investments from China during the on-going crisis and market disruption due to it.

Rs.10 lakhs Compensation for all Postal employees

• The Postal employees including Gramin Dak Sevaks are performing various departmental duties as well as serving the social cause in the crisis times.

• Therefore, it has been decided to grant payment of compensation of Rs. 10 lakhs to all the Postal employees including Gramin Dak Sevaks (GDS) succumbing to the disease while brought on duty. .

Government Amends Credit Guarantee Fund for Micro Units (CGFMU) scheme to Increase Default Coverage to 75%

• The Ministry of Finance has announced amendment in Credit Guarantee Fund for Micro Units (CGFMU) scheme, which covers micro loans up to Rs 10 lakh extended under the Pradhan Mantri Mudra Yojana.

• Apart from this, the ministry has also reduced the burden of defaults that the lender had to bear under the scheme from the first 5% of the amount in default to 3%.

Books and Authors

‘Shuttling to the Top: The Story of P.V. Sindhu’ Authored by V. Krishnaswamy Released

• The book titled “Shuttling to the Top: The Story of P.V. Sindhu”, written by sports journalist V. Krishnaswamy, was released on 13 April 2020.

• The book narrates the journey of badminton player PV Sindhu, from her early life to becoming a world champion, and what lies ahead.

• The book has been published by HarperCollins Publishers India.

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