Employee Provident Fund Organization : New Instructions The Employee Provident Fund Organization recently issued new instructions for pensions. Earlier the amount contributed towards the scheme was capped at Rs 15,000. Now EPFO says the employees can contribute more than this. Both employer and employees contribute a certain amount (from their salary) to the EPFO scheme […]
Category: Economics Current Affairs
Draft Reserve Bank Of India (Government Securities Lending) Directions, 2023
Draft Reserve Bank Of India (Government Securities Lending) Directions, 2023: The Reserve Bank of India released Draft Reserve Bank of India (Government Securities Lending) Directions, 2023. The RBI proposed introduction of securities lending and borrowing in Government Securities (G-sec) with an aim to facilitate wider participation in the securities lending market by providing investors an […]
Changes In NEFT And RTGS Systems For FCRA Related Transactions
Changes In NEFT And RTGS Systems For FCRA Related Transactions: The Reserve Bank of India (RBI) recently made changes in NEFT and RTGS systems for Foreign Contribution (Regulation) Act (FCRA) related transactions. This comes after the Home Ministry mandated State Bank of India (SBI) to report all overseas donors’ details, including the purpose of remittances, […]
49th Meeting Of GST Council
49th Meeting Of GST Council: The 49th meeting of the council was recently chaired by Finance Minister Smt Nirmala Sitaraman. Outstanding GST cess dues to the states were cleared. Highlights: GST on liquid jaggery, pencil sharpeners, and tracking devices was reduced A report of the GST Appellate Tribunal was adopted; certain modifications were introduced Capacity-based […]
Payment Aggregator Licenses : RBI
Payment Aggregator Licenses : RBI Payment Aggregator (PA) is a third-party service provider that allows merchants to accept payment from customers by integrating it into their websites or apps. It facilitates different types of payment transactions, including cash/cheque, online payments through multiple payment sources, or offline touchpoints. It allows merchants to accept bank transfers without […]
HARBINGER 2023: RBI Announces 2nd Global Hackathon
HARBINGER 2023: RBI Announces 2nd Global Hackathon The Reserve Bank of India recently announced the “HARBINGER-2023”. The theme of the hackathon is “Inclusive Digital Services”. Competitors from 22 different countries will participate in the hackathon. This includes Israel, the Philippines, Singapore, Sweden, the USA, and the UK. RBI also received 363 proposals from Indian candidates. […]
Investor Education And Protection Fund Authority (IEPFA)
Investor Education And Protection Fund Authority (IEPFA): The Investor Education and Protection Fund Authority (IEPFA), will organise a State Level Conference on Financial Literacy in Amrit Kaal – Empowering Investors in association with the Department of Tourism in Aizawl. Investor Education and Protection Fund Authority: It was established in 2016 under the Companies Act, of […]
UPI Payment For Foreign Travellers To India
UPI Payment For Foreign Travellers To India: The RBI has decided to permit all inbound foreign travellers to use UPI payments for their merchant payments while they are in India. Initially, it will be limited to travellers from G20 countries arriving at select international airports They will be able to use UPI while carrying out […]
What Is Crony Capitalism?
What Is Crony Capitalism? Parliament witnessed sharp exchanges over the Adani-Hindenburg issue and the opposition is accusing it of crony capitalism and raising demands for a probe by a Joint Parliamentary Committee or a Chief Justice of India (CJI)-designated committee. Crony capitalism is a term used to describe a capitalist economic system in which individuals […]
Guidelines On Climate Risk, Sustainable Finance : RBI
Guidelines On Climate Risk, Sustainable Finance : RBI The Reserve Bank of India released a discussion paper called Climate Risk and Sustainable Finance. RBI says that climate change has the full potential to transform into climate-related financial risks. The guidelines are not yet released. RBI will release it in a phased manner. The guidelines will […]
