Expected Credit Loss (ECL) Framework: Private sector lender ICICI Bank recently said the bank is ready to move to an expected credit loss (ECL) framework for provisioning. The RBI defines a loan loss provision as an expense that banks set aside for defaulted loans. Banks set aside a portion of the expected loan repayments from […]
Category: Economics Current Affairs
TCRM Matrix
TCRM Matrix: NITI Aayog has introduced the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, an innovative assessment tool aimed at transforming technology evaluation, encouraging innovation, and nurturing entrepreneurship in India. TCRM Matrix stands for Techno-Commercial Readiness and Market Maturity Matrix. It is an assessment tool designed to revolutionize technology evaluation, foster innovation, and […]
Advance Authorisation Scheme : Directorate General of Foreign Trade
Advance Authorisation Scheme : Directorate General of Foreign Trade The Directorate General of Foreign Trade (DGFT) implemented the Advance Authorisation Scheme. The Scheme was implemented under the Foreign Trade Policy. It allows duty-free import of inputs for export purposes. Advance Authorisation Scheme:- Launched: 2015. (Advance Authorization Scheme (AAS)) Ministry: Ministry of Commerce and Industry. […]
Pension Funds To Invest In Sovereign Green Bonds
Pension Funds To Invest In Sovereign Green Bonds: The Pension Fund Regulatory and Development Authority (PFRDA) will allow pension funds to invest in sovereign green bonds that the government is expected to issue in the second half of the current financial year. Sovereign Green Bonds are government-issued bonds used to fund projects that have positive […]
Bharat Bill Payment System
Bharat Bill Payment System: CEO of Bharat Bill Pay recently said Bharat Bill Pay has witnessed a threefold business growth in just two years. Bharat Bill Payment System (BBPS) is an integrated bill payment system or a platform which acts as a connect between various billers and users. It is a one-stop ecosystem for payment […]
AT1 Bonds: Discouraged Market
AT1 Bonds: Discouraged Market The underwhelming subscription to State Bank of India’s additional tier-1 (AT-1) bond issue has dampened market sentiment and is expected to make fund-raising harder for other PSU banks. AT1 bonds are a type of unsecured, perpetual bonds that banks issue to improve their core capital base. The money raised through these […]
Reimposed a Windfall Tax On Domestic Crude Petroleum
Reimposed a Windfall Tax On Domestic Crude Petroleum: The Indian government recently reimposed a windfall tax on domestic petroleum crude. Windfall Tax is a higher tax levied by the government on specific industries when they experience unexpected and above-average profits. When the government notices a sudden increase in an industry’s revenue, they impose this tax. […]
50th Meeting Of GST Council
50th Meeting Of GST Council: At its 50th meeting, the Goods and Services Tax (GST) Council made changes to tax rates on various items and resolved the tax treatment for online gaming, casinos, and horse racing. The Council decided to levy a uniform 28% tax on the full face value of bets placed for […]
E-auction Of Rice : Food Cooperation Of India
E-auction Of Rice : Food Cooperation Of India The Food Cooperation of India (FCI) started an e-auction of rice to control retail prices. Consumer Affairs, Food and Public Distribution Ministry have said that the decision to sell rice through e-auction under the Open Market Sale Scheme (OMSS) from the buffer stock to bulk consumers has […]
Standard Operating Procedure : CBIC
Standard Operating Procedure : CBIC The Central Board of Indirect Taxes and Customs (CBIC) has issued a standard operating procedure (SoP) to prevent the use of freebies, illicit liquor, and other prohibited items to lure voters during upcoming elections in India. SoP is a set of guidelines and instructions that define how a particular task […]
