Nation
Lok Sabha passes two bills to replace NEET ordinances
The Lok Sabha on Tuesday passed by a voice vote after discussion, The Indian Medical Council (Amendment) Bill and The Dentists (Amendment) Bill, which seek to amend the Indian Medical Council Act,1956 and the Dentists Act, 1948 to replace the National Eligibility cum Entrance Test (NEET) ordinances.
 
The ordinances were promulgated in May to keep state boards out of the ambit of NEET for admission in MBBS and BDS courses for 2016.
 
"The bill will give statutory status to the NEET. This will make the examination system fair and transparent and students won't face multiplicity of exams. It will also stop exploitation of students in the name of capitation fees," Health Minister J.P. Nadda said while replying to the debate.
 
He said that only state boards have been exempted from the ambit of NEET this year and all private medical colleges will come under the new system.
 
"The CBSE will conduct the examination for undergraduate medical courses while for postgraduate courses it will be done by National Board of Examination," he said adding that 16 states have opted for State Boards examinations and 15 states have opted for NEET this year.
 
The Health Minister also said that he has written to the states to provide details about the students who have appeared in the medical entrance tests in their own languages during last three years so that further action could be taken.
 
The Bills provide for conduct of uniform entrance examination for admission to all medical educational institutions at the undergraduate and post-graduate courses.
 
The examination will be conducted in Hindi, English and some other languages.
 
The AIADMK members staged a walkout, saying they are not satisfied with the reply of minister and there concerns were not addressed.
 
Initiating the debate after Nadda presented the Bill, RSP leader N. K. Premachandran said that like the uniform medical examination, the fee structure should also be uniform.
 
Congress leader K. C. Venugopal said that the bills will help do away the corrupt practices in the entrance examination.
 
"The uniform examination should also be allowed in regional languages," he said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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NSEL scam: EOW attaches Rs 2,000 crore assets of FTIL
The Economic Offences Wing of Mumbai police has attached assets worth Rs 2,000 crore belonging to Financial Technologies India Ltd (FTIL), owned and founded by Jignesh Shah, official sources revealed.
 
The assets, which include FTIL's headquarters renamed 63 Moons, have been seized under the Maharashtra Protection of Interest of Depositors Act, bank accounts and deposits.
 
Reacting to the EOW move, FTIL termed the move as without "legal basis" and said the company would challenge it before the court soon.
 
"We have received a letter from EOW dated 18/7/2016 at 6 pm today on 19/7/2016 securing assets of FTIL. 63 Moons is a listed company having 63000+ shareholders and about 1000+ employees. We will take all legal remedies to protect their interest. There is no legal basis for the said action and we will be moving court soon on the said letter," said FTIL in a late evening statement.
 
The development comes barely a week after Shah's arrest by Enforcement Directorate (ED) in connection with the Rs 6,000 crore scam at National Spot Exchange Ltd (NSEL), which is owned by FTIL.
 
The ED said it had collected evidence of money-laundering against Shah, and he has been remanded to judicial custody till August 1 by a Special PMLA (Prevention of Money Laundering Act) Court.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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IMF cuts 2016 global growth forecast to 3.1% amid Brexit uncertainty
The International Monetary Fund (IMF) on Tuesday revised down its forecast for global growth in 2016 and 2017 in view of the uncertainty surrounding Britain's exit from the European Union.
 
The IMF expects the global economy to grow 3.1 per cent in 2016 and 3.4 per cent in 2017, both 0.1 per cent lower than its forecasts in April, Xinhua news agency reported.
 
"The outcome of the UK vote, which surprised global financial markets, implies the materialisation of an important downside risk for the world economy. As a result, the global outlook for 2016-2017 has worsened, despite the better-than-expected performance in early 2016," the IMF said.
 
The uncertainty surrounding the Brexit is projected to take a toll on confidence and investment, including through its repercussions on financial conditions and market sentiment more generally, it added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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