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India slips 21 positions in gender equality rankings, worst than China and Bangladesh

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Gender Disparity in India
Gender Disparity in India (Representative Image)

The World Economic Forum has released a report which states that India slips 21 positions in men and women equality rankings.

Survey also suggests that gender disparity in India is even worse than its neighboring countries China and Bangladesh.

Overall it would require hundred more years for women to achieve equality, however, for equality at the workplace, the women would have to suffer 217 years from now.

Last year the same survey predicted that only 83 years would require ending the disparity between men and women in indicators related to healthcare, education, and participation in politics.

Saadia Zahidi, the WEF’s head of education, gender and work, said: “In 2017 we should not be seeing progress towards gender parity shift into reverse. Gender equality is both a moral and economic imperative. Some countries understand this and they are now seeing dividends from the proactive measures they have taken to address their gender gaps.”

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Business

RBI to come up with guidelines for dividend distribution by NBFCs

RBI has decided to carry out consultation with stakeholders before finalising the revised regulatory framework.

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Reserve Bank of India RBI

Mumbai: The Reserve Bank of India (RBI) has decided to come out with guidelines for dividend distribution by NBFCs.

Unlike banks, currently there are no guidelines in place with regard to distribution of dividend by NBFCs.

RBI Governor Shaktikanta Das on Friday announced that keeping in view the increasing significance of NBFCs in the financial system and their interlinkages with different segments, it has been decided to formulate guidelines on dividend distribution by NBFCs.

Different categories of NBFCs would be allowed to declare dividend as per a matrix of parameters, subject to a set of generic conditions.

A draft circular in this regard will be issued shortly for public comments.

He further said that the contribution of NBFCs as a supplemental channel of credit intermediation alongside banks is well recognised.

Regulatory regime governing the NBFC sector is built on the principle of proportionality such that adequate operational flexibility is available to the sector through calibrated regulatory measures.

However, there are rapid developments in the last few years, which have led to significant increase in size and interconnectedness of the NBFC sector.

“There is, therefore, a need to review the regulatory framework in line with the changing risk profile of NBFCs. It is felt that a scale-based regulatory approach linked to the systemic risk contribution of NBFCs could be the way forward,” said the RBI’s statement on developmental and regulatory policies.

RBI has decided to carry out consultation with stakeholders before finalising the revised regulatory framework.

A discussion paper in this regard will be issued before January 15, 2021 for public comments.

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Modi chairing all-party meeting to discuss corona situation, vaccine

Earlier also, Modi had convened all-party meetings on coronavirus and the India-China border tensions in eastern Ladakh.

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Narendra Modi

New Delhi: Prime Minister Narendra Modi was chairing an all-party meeting with ministerial colleagues and select opposition leaders on Friday to discuss the ongoing battle against coronavirus pandemic and potential availability of coronavirus vaccine in the near future and its distribution in India.

The virtual meeting began at 10.45 am, in which Defence Minister Rajnath Singh, Union Home Minister Amit Shah and Health Minister Dr Harsh Vardhan, apart from Health Ministry Secretary, were also present.

The leaders of opposition parties will be taken into confidence on the measures taken by the central government so far to prevent more coronavirus cases in the country etc.

Only leaders of those parties which have four to five MPs have been invited to the meeting.

Once the meeting is over, an official statement will be issued on behalf of the Prime Minister’s Office to inform the public about its outcomes.

Earlier also, Modi had convened all-party meetings on coronavirus and the India-China border tensions in eastern Ladakh.

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RBI allows settlement files of payment systems on all days of year

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Shaktikanta Das

Mumbai: The RBI has proposed to allow settlement files of payment systems viz., AePS, IMPS, NETC, NFS, RuPay, UPI to be posted to the apex bank on all days of the year.

The measure will reduce build-up of settlement and default risks and enable better management of funds by member banks.

It will also enhance overall efficiency of the payments ecosystem.

Presently, the facility of posting settlement files of payment systems, operated by authorised payment system operators, to the Reserve Bank is available only on RTGS working days.

With round the clock availability of eKuber (core banking system of RBI) and RTGS (to be operationalised soon), it is proposed to allow settlement files of payment systems on all days of the year, the RBI said in a statement.

Instructions in this regard will be issued by the pax bank shortly.

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