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Cabinet approves amendments to bring co-operative banks under RBI

The Cabinet also approved setting up a new major port at Vadhavan near Dahanu in Maharashtra at a cost of Rs 65,544 crore. With the development of Vadhavan port, India will break into the countries with top 10 container ports in the world. Vadhavan port will be developed on “land lord model”.

Cabinet also gave its nod to grant the status of Institution of National Importance..INI..to five Indian Institutes of Information Technology (IIITs)…The Five IIITs in PPP mode at Surat, Bhopal, Bhagalpur, Agartala and Raichur will now be able to use the nomenclature of Bachelor of Technology (BTech) or Master of Technology (MTech) or PhD degree.

Besides, Cabinet has granted ex-post facto dispensation to Alliance Air, a 100% subsidiary of Air India to fly on international sectors between India and Sri Lanka. A special dispensation is allowed for the interim period until Alliance Air deploys a minimum of 20 Aircraft or 20% of total capacity, whichever is higher for domestic operations. Prior to this approval there was no commercial operation scheduled from Palaly and Batticaloa airports.

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