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RBI granted in-principle approval to three applicants for setting up TReDS
1.The Reserve Bank of India (RBI) on 24 November 2015 granted in-principle approval to three applicants to set up and operate Trade Receivables Discounting System (TReDS). The three organisations have been asked to set and operate TReDS in accordance to the Guidelines issued on 3 December 2014 under the Payment and Settlement System (PSS) Act 2007.

Mumbai. Axis Bank Limited, MumbaiMynd Solutions Pvt. Ltd., Gurgaon, Haryana
3.The in-principle approval granted will be valid for a period of 6 months, during which time the applicants have to comply with the requirements under the Guidelines and fulfill the other conditions as may be stipulated by the Reserve Bank.
4.On being satisfied that the applicants have complied with the requisite conditions laid down by it as part of in-principle approval, the RBI would consider granting to them a Certificate of Authorisation for commencement of the business of TReDS.
UNESCO Fellini medal to be awarded at IFFI for the first time
1.The UNESCO Fellini medal will be awarded in India for the first time at the 46th International Film Festival of India (IFFI) in collaboration with the International Council for Film, Television and Audiovisual Communication (ICFT), Paris. The medal is given to a film that reflects UNESCO’s ideals.
2.The Fellini medal was unveiled at the Cannes Film Festival in May 1995. The medal holds a double significance – to honour Italian director Federico Fellini’s contribution to film as an art form, and to commemorate the centenary of the birth of cinema (1895-1995). Italian painter Valerio Adami designed the fragmented, interlocking images of the medal.
3.The obverse side features a profile of Fellini with his signature hat, facing the inscription 8 1/2, the title of one of the most famous films in the history of cinema. The reverse is inscribed Fellini (1920-1993) UNESCO.
Sunil Narine Gets International Cricket Council Ban for Illegal Action
1.Sunil Narine’s international suspension will also be recognised and enforced by all national cricket federations within domestic cricket events played in their own jurisdiction .The West Indies spinner’s action was reported, for the third time, during an ODI match against Sri Lanka in November.
2.Narine, whose action was also reported during an Indian Premier League game this year, was cleared by the Board of Control for Cricket in India (BCCI) after giving him a final warning.
3.Narine was reported after the third ODI match against Sri Lanka in Pallekele in November.
4.The player can apply for a re-assessment after modifying his bowling action in accordance with clause 2.4 of the Regulations for the Review of Bowlers Reported with Suspected Illegal Bowling Actions.
5.The test was performed on Tuesday, November 17, at the ICC’s accredited testing centre in Loughborough University.

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