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Finance Minister attends FATF meeting

Finance Minister Nirmala Sitharaman attends FATF Ministerial Meeting in  Washington D.C. | Odisha News | Odisha Breaking News | Latest Odisha News

Finance Minister Smt. Nirmala Sitharaman attends FATF Ministerial Meeting in Washington D.C.

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the FATF Ministerial Meeting in Washington D.C. on 21st April 2022, conducted along-side the 2022 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF).

 

Highlights

·       This meeting focussed on Ministers’ providing strategic direction, by endorsing the FATF’s strategic priorities for the years 2022-24 and reinforcing Ministers’ commitment to ensure suitable funding for the delivery of the strategic priorities which are Strengthening the FATF Global Network, FATF systems of Mutual Evaluations, Enhancing International Beneficial Ownership Transparency, Increasing Capabilities to more effectively recover Criminal assets, Leveraging Digital Transformation, Ensuring Sustainable Funding for FATF Strategic priorities.

·       During the Meeting, the Finance Minister reaffirmed India’s commitment to fighting Money Laundering, Terrorist Financing and Proliferation Financing and acknowledged and appreciated FATF on their work on Beneficial Ownership Transparency, Asset Recovery, and the role of FATF Global network in safeguarding the global financial system.

·       Smt. Sitharaman extended support to the strategic priorities and said that India is committed to provide the necessary resources and support to FATF in its endeavour as a global alliance against money laundering, terrorist financing and financing of proliferation of weapons of mass destruction.

 


Nitin Gadkari calls for a recall of all defective batches of Electric Vehicles

electric vehicles: Nitin Gadkari asks automakers to reduce EV cost, forgo  profit initially to capture market, Auto News, ET Auto

Shri Nitin Gadkari calls for advance action by companies to recall all defective batches of Electric Vehicles, constitutes Expert committee to enquire into incidents and for quality-centric guidelines

 

Why is it in news?

Union Minister for Road Transport and Highways Shri Nitin Gadkari has said several mishaps involving Electric Two Wheelers have come to light in last two months.

Highlights

·       It is most unfortunate that some people have lost their lives and several have been injured in these incidents.

·       In a series of tweets on Thursday Shri Gadkari said companies may take advance action to recall all defective batches of vehicles immediately.

·       He said under the leadership of Prime Minister Shri Narendra Modi, our government is committed to ensure safety of each and every commuter.

·       The Minister informed that an Expert Committee has been constituted to enquire into these incidents and make recommendations on remedial steps.

·       He said based on the reports necessary orders on the defaulting companies will be issued and quality-centric guidelines for Electric Vehicles will also be issued soon.

·       Shri Gadkari said if any company is found negligent in their processes, a heavy penalty will be imposed and a recall of all defective vehicles will also be ordered.


India, UK sign new defence agreement, free trade deal

India, Uk Sign New Defence Agreement, Free Trade Deal. Details Here | Mint

India, UK sign new defence agreement, free trade deal

British Prime Minister Boris Johnson shakes hands with his Indian counterpart Narendra Modi during a joint press briefing at the Hyderabad House in New Delhi today

 

The United Kingdom and India signed a new defence cooperation agreement on Friday and will look to complete a free trade deal by the end of the year, their leaders said after a meeting in New Delhi, according to Reuters report.

 

Why is it in news?

Prime Minister Narendra Modi has said, “we expressed our commitment to fulfilling promises made during the last COP 26. We invite the UK to join India's National Hydrogen Mission...We stressed on a free, open, inclusive and rules-based Indo-Pacific region."

While UK PM Borris Johnson said, “shared interests in keeping the Indo-Pacific region free, open and rule-based. Agree to combat threats on air, space & maritime. Taking steps for sustainable homegrown energy. This visit has deepened our relationship."

 

Highlights

 

·       The UK is creating an India specific open general export license reducing bureaucracy and reducing delivery times for Defence procurement, the British PM Boris Johnson further highlighted.

 

·       Additionally, last year India-UK launched a comprehensive strategic partnership. Work on FTA is underway. Talks held on defense sector, trade, climate and energy. Talks also hold on free, open & rule-based Indo-pacific region.

 

·       Since last year, the threats of autocratic coercion have grown even further, therefore it is vital we deepen our cooperation including our shared interest in keeping the Indo-Pacific open and free. We have had wonderful talks today & have strengthened our relationship in every way. The partnership between India and Britain is one of the defining friendships of our times, the British Prime Minister said today.