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Former Home Minister – Buta Singh

Former Home Minister, Buta Singh passed away at the age of 86.

About:  

  • Buta Singh began his political career with the Akali Dal in the 1960s. He was elected to Lok Sabha for the first time in 1962 on an Akali Dal ticket from Moga in Punjab but switched to the Congress soon.

Buta Singh was Cong's man for all seasons | India News - Times of India

  • Buta Singh (1934 – 2021) was an Indian politician and a senior leader of the Indian National Congress. He was elected to the Lok Sabha eight-times.
  • He served as Union Home Minister in 1986 under Rajiv Gandhi Government, Minister for Agriculture, Parliamentary Affairs, Civil Supplies, Housing, Shipping, Transport and Sports.
  • His term as Home Minister will be remembered for the Rajiv Gandhi government’s decision to allow shilanyas of a Ram temple at the disputed site in Ayodhya in 1989, and his role in bringing down many elected chief ministers, including in Tamil Nadu.
  • He was very closely involved with Indira Gandhi in Operation Blue Star and as a minister, he oversaw the reconstruction of the Golden Temple following that exercise.
  • He also served as the Governor of Bihar and Chairman of the National Commission for Scheduled Castes (NCSC).

 

India approves two COVID-19 vaccines for emergency use

  • The Central Drugs and Standards Committee (CDSCO) on Sunday formally approved the COVID-19 vaccines by Bharat Biotech and the Serum Institute of India (SII).
  • Covishield by SII and based on the Oxford AstraZeneca vaccine, and Covaxin by Bharat Biotech — to be offered to healthcare workers and frontline workers in India. 

Coronavirus | India approves COVID-19 vaccines Covishield and Covaxin for emergency use

Yet to complete trials

  • Neither Covishield nor Covaxin has completed the crucial Phase-3 trial.
  • The approval was based on a recommendation by a Subject Expert Committee which deliberated for two days on granting approvals to the vaccines.

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Non-Banking Financial Company

  • NBFC is a company registered under the Companies Act, 1956.
  • It is engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business.

Difference Between Banks And Nbfcs Non Banking Finance Companies - FinanceViewer

  • But, it does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of the immovable property.
  • A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner is also a non-banking financial company (Residuary non-banking company).

Features of NBFCs

  • NBFC cannot accept demand deposits.
  • NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself.
  • Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs.

 

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