Retail Inflation: Retail inflation accelerated sharply to 6.95% in March, the fastest pace of price gains in almost a year and a half, and marked the third straight month when inflation exceeded the Reserve Bank of India’s tolerance threshold of 6%. A surge in food price inflation, which quickened to 7.68% from 5.85% in February, […]
Category: Economics Current Affairs
What Is The Concessional Tax Rate Regime?
What Is The Concessional Tax Rate Regime? Government data has shown that the concessional corporate tax rate announced by the Union government in September 2019 saw two out of every five new domestic manufacturing companies incorporated in 2019-20 (April-March) opting for the reduced 15% tax rate. Corporation tax is a direct tax placed on a […]
Cardless Cash Withdrawals At ATMs : RBI
Cardless Cash Withdrawals At ATMs : RBI The Reserve Bank of India (RBI) announced cardless cash withdrawals at ATMs across the country which will enable consumers to use Unified Payment Interface (UPI) on their smartphones to withdraw cash from Automatic Teller Machine (ATMs). It would help prevent frauds like card skimming and card cloning. Currently, […]
RBI Draft Norms For Trade Via E-commerce
RBI Draft Norms For Trade Via E-commerce: The Reserve Bank of India has proposed to modify the existing norms that are in place with the aim of rationalizing and simplifying the process for payment settlement for imports and exports through e-commerce. The draft guidelines named ‘Processing and Settlement of small value Export and Import related […]
Monetary Policy Review: RBI
Monetary Policy Review: RBI The Reserve Bank of India (RBI) in its latest Monetary Policy review has decided to keep the main policy rate – Repo rate – unchanged at 4%. It has also retained its accommodative stance, but indicated it will engage in a gradual and calibrated withdrawal of surplus liquidity to rein in […]
National Pension System
National Pension System: Many states are demanding to restore the Old Pension Scheme and roll back the National Pension System (NPS). Rajasthan has said it will bring back the old pension scheme in the state from the next financial year, and Chhattisgarh is expected to follow suit. Governments of Kerala, Andhra Pradesh, and Assam have […]
Interest Rates Unchanged On Small savings Schemes
Interest Rates Unchanged On Small savings Schemes: The government has kept interest rates unchanged on Small savings Schemes, including NSC (National Savings Certificate) and PPF (Public Provident Fund) for the first quarter of 2022-23 (April-June) due to an elevated level of inflation. Small Saving Schemes are the major source of household savings in India and […]
What Is Shrinkflation?
What Is Shrinkflation? Due to rising costs many companies are practising “Shrinkflation”. Shrinkflation is the practice of reducing the size of a product while maintaining its sticker price. It is a form of hidden inflation. Raising the price per given amount is a strategy employed by companies, mainly in the food and beverage industries, to […]
Tax On Lotteries
Tax On Lotteries: The Supreme Court has held that a lottery conducted by Government of India, states or authorised by a state or conducted by private entities is an activity falling within the nomenclature of ‘betting and gambling’. And hence, the State Legislature has the competence to tax lottery scheme which is gambling being conducted […]
Reserve Bank Innovation Hub: Bengaluru
Reserve Bank Innovation Hub: Bengaluru The Reserve Bank of India (RBI) governor inaugurated the Reserve Bank Innovation Hub (RBIH) in Bengaluru. It has been set up as a Section 8 company under the Companies Act, 2013 with an initial capital contribution of Rs. 100 crore. It is is a wholly owned subsidiary of the RBI. […]
