Payments Bank : Restriction The Reserve Bank of India (RBI) recently imposed restrictions on Paytm Payments Bank Ltd (PPBL), following a system audit report and subsequent compliance validation report of external auditors. A payments bank is like any other bank but operates on a smaller scalewithout involving any credit risk. It was set up based […]
Category: Economics Current Affairs
India’s Core Industries Performance
India’s Core Industries Performance: The combined Index of Eight Core Industries (ICI) in India exhibited a provisional growth of 3.8% in December 2023 compared to 2022. Except crude oil, all other sectors have majorly performed well. The ICI serves as a crucial metric, encompassing Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products, and […]
Interim Union Budget Of India 2024-25
Interim Union Budget Of India 2024-25: The Finance Minister, Smt. Nirmala Sitharaman delivered the Union Budget for the fiscal year 2024-25 in the new Parliament Building on February 1, 2024.This budget presentation represents her sixth consecutive budget, following those of 2019, 2020, 2021, 2022, and 2023. Highlights: Finance Minister Nirmala Sitharaman mentioned the goal of making […]
Direct Tax-GDP Ratio
Direct Tax-GDP Ratio: Direct tax-GDP ratio rose to 15-year high in FY-2023. Direct tax-to-GDP ratio, rose to a 15-year high of 6.11 per cent in the financial year 2022-23, time-series data released by the Central Board of Direct Taxes (CBDT) under the Ministry of Finance. Tax-GDP ratio measures how much tax is collected in relation […]
GIFT IFSC
GIFT IFSC: Gujarat International Finance Tech-city (GIFT) SEZ is India’s first International Financial Services Centre (IFSC). The Government allowed the direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC. In pursuance of the announcement on July 28, 2023, by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman to […]
Halwa Ceremony : Before The Annual Budget Presentation
Halwa Ceremony : Before The Annual Budget Presentation The Union Finance Minister participated in the ‘Halwa Ceremony’ recently, a tradition observed before the annual budget presentation. Halwa Ceremony is a tradition performed every year ahead of the budget and signifies the official initiation of the printing process of various documents related to the budget. It […]
National Monetization Pipeline
National Monetization Pipeline: The Centre has decided to conduct an Asset Recycling Drive under the National Monetization Pipeline (NMP), aiming to generate resources for new investments in infrastructure. The Centre’s asset recycling drive is expected to generate around Rs 1.5 trillion in the fiscal year 2024-25. Transactions with monetisation values of around Rs 0.97 trillion […]
SCOPE’s Commendation Certificate To NHPC
SCOPE’s Commendation Certificate To NHPC: National Hydroelectric Power Corporation (NHPC) Limited, a Mini Ratna Category-I Public Sector Undertakings (PSU) and India’s premier hydropower company achieved a significant milestone by being honoured with Standing Conference of Public Enterprises (SCOPE’s) ‘Commendation Certificate’ for its effective implementation of the Right to Information (RTI) Act, 2005. The award highlights […]
Guidelines For Coaching Centre
Guidelines For Coaching Centre: The Ministry of Education has sent to states/UTs for consideration guidelines for coaching centres. Key features of the Guidelines: Registration of Coaching Center Prior registration is required for maintaining a coaching centre. Existing centres must apply within three months. For States States/UTs were urged to Develop an Online Registration Portal for […]
18th Annual Status Of Education Report (ASER) 2023
18th Annual Status Of Education Report (ASER) 2023: The 18th Annual Status of Education Report (ASER) 2023 titled ‘Beyond Basics’ was released by NGO Pratham, discussing the activities students are engaged in, their basic and applied reading and maths abilities and digital awareness and skills. Highlights of the ASER 2023: Overall, 86.8% of 14-18-year-olds are […]
