Current Affairs: 20 February 2019

Daily Current GK Update

20 February, 2019

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  1. World Bank, UN, SIDBI launch Rs 300 cr women livelihood Bond

World Bank, UN women, and Small Industries Development Bank of India (SIDBI) have joined hands to launch a new social impact bond exclusively for women called women’s livelihood bonds (WLBs) with an initial of Rs 300 crore. The proposed Bond will enable individual women entrepreneurs in sector like food processing, agricultural, services and small units to borrow around Rs 50,000 to Rs 300000 at an annual interest rate of around 13 -14 % or less. The bond will have tenure of 5 years.

Source: – The Indian Express

 

  1. Government changes definition of startups, relaxes Angel Tax norms

An entity shall be considered a startup up to 10 years from its incorporation/registration date instead of seven years, Commerce Minister Suresh Prabhu said. Now an entity can be a startup if its turnover for any of the financial years since incorporation/registration hasn’t exceeded 5100 crore instead of existing 325 crore. A notification on the same will be released shortly.

Source: – The Hindu

 

  1. Government approved new National electronics policy

To promote domestic manufacturing and export in electronic system design and manufacturing (ESDM) to achieve a turnover of 400 billion dollar by 2025 the Union Cabinet cleared the national policy on electronics 2019. As per the policy the government will end modified special incentive scheme (M-SIPS) with schemes that it will find easier to implement such as interest subsidy and credit default guarantee among others.

Source: – The Indian Express

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