1) Aadhaar Mandatory For Filing Tax Returns, PAN Card From July 1
Quoting of Aadhaar has been made mandatory for filing income tax returns with effect from July 1, as introduced by the Finance Act, 2017, an official statement said on Wednesday.
Aadhaar will also be compulsory for making an application for allotment of Permanent Account Number (PAN), with effect from July 1.
Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar /Enrolment ID of Aadhaar application form, for filing of return of income and for making an application for allotment of Permanent Account Number with effect from July 1.
As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident individual is entitled to obtain Aadhaar.
Resident as per the said Act means an individual who has resided in India for a period or periods amounting in all to 182 days or more in the 12 months immediately preceding the date of application for enrolment.
2) 26 projects worth Rs2100 cr approved for Namami Gange project
The National Mission for Clean Ganga (NMCG) has approved 26 projects worth Rs 2,154.28 crore under the Centre’s ‘Namami Gange’ programme, aiming to reduce the river’s pollution load. As part of the projects, the NMCG will set up sewage treatment plants (STPs) and develop sewage network in four Ganga basin states: Uttar Pradesh, Uttarakhand, Jharkhand and Delhi. It will create sewage treatment capacity of 188 million litres daily (MLD), setting up 13 new STPs in the states.
The NMCG will rehabilitate three existing STPs of 596 MLD-capacity in Delhi, Haridwar (Uttarakhand) and Vrindavan (Uttar Pradesh).
3) India extends $4.5 billion new line of credit to Bangladesh
India and Bangladesh have signed 22 agreements in strategic sectors like defence and civil nuclear cooperation during Bangladesh Prime Minister Sheikh Hasina's visit to India.
In a joint statement after signing of agreements in Delhi, Prime Minister Narendra Modi announced a new line of concessional credit of $4.5 billion for implementation of development projects in Bangladesh. Apart from that, Mr. Modi also announced $500 million of credit for defence procurement in the country.
4) Canara Bank partners with BSNL
Canara Bank, a public sector bank, has embarked upon an ambitious project of upgrading the bandwidth at all its branches to 2 Mbps in partnership with BSNL.
The bandwidth upgradation of branches is in line with the bank’s policy of promoting digital channels and will ensure faster service across the counters. The bandwidth upgradation activity shall be completed in three months.
5) Smita Sandhane appointed MD of Saraswat Bank
Saraswat Bank, the largest lender in the co-operative space, has appointed Smita Sandhane as its Managing Director (MD) with effect from 01st April 2017. She is the first woman chief of India's largest urban co-operative bank.
Prior to her elevation, Sandhane was the Joint Managing Director of the bank. She has been with the bank since 1982. Sandhane has taken over from S.K. Banerji, who retired from the services of the bank on March 31, 2017. Banerji is now an Advisor to the bank's board.
6) Hamilton beats Vettel to win his fifth Chinese Grand Prix
Mercedes' British Formula One racer Lewis Hamilton defeated Ferrari's four-time Formula One World Champion Sebastian Vettel to lift his fifth title at the Chinese Grand Prix. Red Bull teammates Max Verstappen and Daniel Ricciardo finished third and fourth respectively in Shanghai. Force India's Sergio Pérez finished the race in the ninth place.
Hamilton beat Vettel by 0.186 seconds for his second pole in two races, while the German edged the second Mercedes of Valtteri Bottas by 0.001secs.
