His Holiness Syedna Mufaddal Saifuddin, the Religious Head of the Dawoodi Bohra Community, calls on the PM



His Holiness Syedna Mufaddal Saifuddin, the Religious Head of the Dawoodi Bohra Community, calls on the PM

His Holiness Syedna Mufaddal Saifuddin, the Religious Head of the Dawoodi Bohra Community, called on the Prime Minister, Shri Narendra Modi, in Mumbai today.


The Prime Minister recalled his long and warm association with Syedna Mohammed Burhanuddin, the former Religious Head of the Dawoodi Bohra Community, who had passed away last year.

His Holiness Syedna Mufaddal Saifuddin appreciated the Prime Minister`s efforts to take India forward, and pledged the community`s support to his initiatives.

The Prime Minister suggested that the Dawoodi Bohra community, which is present in about 400 districts of the country, should initiate Swachhta Abhiyaan competitions among schools in these districts, and award the best performing schools through the creation of laboratories or computer resources.

The Dawoodi Bohra community, which was traditionally a trading community, but has now made great progress in the manufacturing sector, also pledged its support to the `Make in India` initiative of the Prime Minister.

The Dawoodi Bohra community has expressed keenness to establish a smart city in Mumbai. The Prime Minister offered all support in this initiative. The Chief Minister of Maharashtra, Shri Devendra Fadnavis, who was present on the occasion, also assured all support to the venture.

The Prime Minister also asked for suggestions from the Dawoodi Bohra community for the forthcoming Union Budget, given their vast experience, particularly in bringing about positive results in the health and education sector.

The Governor of Maharashtra, Shri Vidyasagar Rao, was also present on the occasion.

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PM's remarks at dedication of ICICI's Digital Village to the Nation

Banks should create one lakh Swachhta entrepreneurs within a year

Banks can become agents of social transformation


The Prime Minister, Shri Narendra Modi today called upon banks to create one lakh "Swachhta Entrepreneurs" within a year, to make the "Swachh Bharat" vision a sustainable reality.

He was speaking in Mumbai on the occasion of the dedication of ICICI`s Digital Village to the Nation. The function also marked 60 years of the ICICI group. Shri Narendra Modi complimented the MD and CEO of ICICI Bank, Mrs. Chanda Kochhar for the way she had institutionalized the initiative of Swachh Bharat within her organization. Noting that the experience of the ICICI group over the last sixty years would prove immensely useful to India`s economic development in the years ahead, the Prime Minister urged ICICI Bank to prepare a vision of tangible goals which they would achieve by the time they celebrated the 75th anniversary of ICICI group. As an intermediate target, he also asked the Bank to think of what goals they could achieve by 2022, the 75th anniversary of India`s independence.

The Prime Minister urged ICICI Bank to adopt a social charter of such tangible goals. He said many times one institution takes the lead and others follow, generating momentum towards a good cause.

The Prime Minister spoke of Akodara Village in Gujarat`s Sabarkantha district, chosen by ICICI Bank as a digital village. He said Akodara had a cattle hostel, which had contributed immensely to improving incomes and cleanliness in the village. He said more and more villages across India would adopt this model soon. The Prime Minister said rural development could emerge as a powerhouse of economic development for the country.

Congratulating ICICI Bank and the people of Akodara for creating a cashless economic system. He said banks in India should actually compete for achieving maximum cashless transactions, as this would be the best solution to the problem of black money.

The Prime Minister said people in India had a propensity towards saving, but this was targeted towards gold. The challenge for banks was to assure people that a bank account would ensure easy access to their savings whenever required. He said if banks were able to do so, they could emerge as agents of social transformation.

Earlier, Akodara village of Sabarkantha District in Gujarat was formally dedicated as a digital village by the Prime Minister.

Governor of Maharashtra Shri Vidyasagar Rao, Chief Minister of Maharashtra Shri Devendra Fadnavis, Finance Minister Shri Arun Jaitley, and MD & CEO of ICICI Bank Mrs. Chanda Kochhar were present on the occasion.

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Area Coverage Under Rabi Crops

As per Rabi Crops data released by Directorate of Economics and Statistics, Ministry of Agriculture, total area coverage as on today under Rabi crops moves to 552.82 lakh hectares while last year’s sowing area was at 579.63 lakh hectare. Wheat`s sowing area is at 293.16 lakh hectares as compared to last year’s 294.30 lakh hectares. The area under sowing of total Coarse cereals is at 51.17 lakh hectares as compared to last year’s 56.18 lakh hectares. The area under sowing of Gram is at 79.65 lakh hectares this year while the last year’s figure was 95.03 lakh hectares. Area coverage under Total Pulses is at 129.99 lakh hectares while the last year’s sowing area coverage was 144.79 lakh hectares. Similarly sowing area under total oilseeds is at 75.43 lakh hectares as compared to 80.93 lakh hectares last year.  

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Road Map Revised for Implementation of Indian Accounting Standards for Companies Other Than Banking Companies, Insurance Companies and NBFCs; Notification to Follow Soon

In pursuance of the Budget statement, the Ministry of Corporate Affairs, Government of India after wide consultations with various stakeholders and regulators, has drawn-up a revised Road Map for companies other than Banking Companies, Insurance Companies and Non- Banking Finance Companies (NBFC’s) for implementation of Indian Accounting Standards (Ind AS) converged with the International Financial Reporting Standards (IFRS).

The Indian Accounting Standards (Ind AS) shall be applicable to the companies as follows:

(i)         On voluntary basis for financial statements for accounting periods beginning on or after April 1, 2015, with the comparatives for the periods ending 31st March, 2015 or thereafter;

(ii)        On mandatory basis for the accounting periods beginning on or after April 1, 2016, with comparatives for the periods ending 31st March, 2016, or thereafter, for the companies specified below:

(a)        Companies whose equity and/or debt securities are listed or are in the process of listing on any stock exchange in India or outside India and having net worth of Rs. 500 Crore or more.

(b)        Companies other than those covered in (ii) (a) above, having net worth of Rs. 500 Crore or more.

(c)        Holding, subsidiary, joint venture or associate companies of companies covered under (ii) (a) and (ii) (b) above.

(iii)       On mandatory basis for the accounting periods beginning on or after April 1, 2017, with comparatives for the periods ending 31st March, 2017, or thereafter, for the companies specified below:

(a)        Companies whose equity and/or debt securities are listed or are in the process of being listed on any stock exchange in India or outside India and having net worth of less than rupees 500 Crore.

(b)        Companies other than those covered in paragraph (ii) and paragraph (iii)(a) above that is unlisted companies having net worth of rupees 250 crore or more but less than rupees 500 Crore.

(c)        Holding, subsidiary, joint venture or associate companies of companies covered under paragraph (iii) (a) and (iii) (b) above.

However, Companies whose securities are listed or in the process of listing on SME exchanges shall not be required to apply Ind AS. Such companies shall continue to comply with the existing Accounting Standards unless they choose otherwise.

(iv)       Once a company opts to follow the Indian Accounting Standards (Ind AS), it shall be required to follow the Ind AS for all the subsequent financial statements.

(v)        Companies not covered by the above roadmap shall continue to apply existing Accounting Standards prescribed in Annexure to the Companies (Accounting Standards) Rules, 2006.

A notification on the above lines shall be issued shortly.

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Defence Minister Visits Hindan Air Base Today

The defence minister ShriManoharParrikar, familiarised himself today at Air Force Station Hindan, with the operations being carried out by the C-17 ‘Globemaster III’ and the C-130 J ‘Super Hercules’- the two most modern transport aircraft in the inventory of the Indian Air Force. He was accompanied by the Chief of the Air Staff, Air Chief Marshal Arup Raha and the Air Officer Commanding in Chief of the Western Air Command, Air Marshal SS Soman. On his arrival at Hindan, the minister was briefed by Air Marshal SS Soman on the role for which both these aircraft are being employed and their potential for employment in various contingencies. This was followed by a tour of the flight complex and a visit to the special equipment bay.

The minister was also provided an on-site familiarization of both the aeroplanes followed by a visit to the C-130J simulator wherein he gained first-hand experience of flying the C-130J along with Group Captain Tejbir Singh, Commanding Officer of 77 Squadron. ShriParrikar also had a ‘Windshield tour’ of the C-17 where he was familiarised with the on-board equipment and instrumentation by Group Captain BS Reddy, Commanding Officer of 81 Squadron.

77 Squadron had created history and a world record when the C-130J was landed at the treacherous Daulat Beg Oldie (DBO) in Ladakh sector at an altitude of 16614 ft on 20 Aug 13. The squadron specializes in undertaking a gamut of diverse roles including insertion and quick deployment of special forces, air drop and air landed operations in hostile areas and other combat support roles. The Super Hercules was used extensively during the flood relief operations in Uttarakhand – the aircraft landed at Dharasu to supply fuel to helicopters involved in rescue and relief ops. The Globemaster is presently used for carrying out routine missions and special missions to high altitude airfields at Leh and Thoise. 81 Squadron provided succour and relief to the flood affected people of Jammu & Kashmir by transporting relief material and passengers. The recent use of the Globemaster-III to transport drinking water to Maldives demonstrated the government’s approach to helping friendly foreign nations in times of crisis, by the use of airpower.

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Coast Guard Intercepts Suspect Boat Carrying Explosives in Arabian Sea

    An intelligence based midnight operation was conducted on the intervening night of Dec 31 and yesterdayby the Indian Coast Guard ships and aircraft to intercept a suspect fishing boat in Arabian Sea near Indo-Pak maritime boundary, approximately 365 km from Porbander.
As per the intelligence inputs received on 31st December, a fishing boat from KetiBunder near Karachi was planning some illicit transaction in Arabian Sea. Based on the input, Coast Guard Dornier aircraft undertook sea - air coordinated search and located the suspect fishing boat. Thereafter, the Coast Guard ship on patrol in area was diverted and intercepted the unlit boat at about midnight of 31st December in position 365 km West-South West of Porbandar.
            The Coast Guard ship warned the fishing boat to stop for further investigation of the crew and cargo; however, the boat increased speed and tried to escape away from the Indian side of maritime boundary. The hot pursuit continued for nearly one hour and the Coast Guard ship managed to stop the fishing boat after firing warning shots. Four persons were seen on the boat who disregarded all warnings by the Coast Guard ship to stop and cooperate with investigation. Soon thereafter, the crew hid themselves in below deck compartment and set the boat on fire, which resulted in explosion and major fire on the boat.
Due to darkness, bad weather and strong winds, the boat and persons on board could not be saved or recovered. The boat burnt and sank in the same position, in early hours of 1st January. Coast Guard ships and aircraft are continuing operations in area to search for any possible survivor. Coast Guard and other security agencies are maintaining high vigil in maritime and coastal areas since last couple of months due to several inputs on threat from the sea.




His Holiness Syedna Mufaddal Saifuddin, the Religious Head of the Dawoodi Bohra Community, calls on the PM His Holiness Syedna Mufaddal Saifuddin, the Religious Head of the Dawoodi Bohra Community, calls on the PM Reviewed by Ajit Kumar on 9:11 PM Rating: 5

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