Fugitive Economic Offenders: Union Finance Minister Nirmala Sitharaman informed the Lok Sabha that banks have recovered ₹13,109.17 crore by selling the assets of fugitives like Vijay Mallya, Nirav Modi and Mehul Choksi. Talking about the recovery of ₹13,109.17 crore from the sale of assets of wilful defaulters, who have now fled the country, the Finance […]
Category: Economics Current Affairs
Open Acreage Licensing Policy
Open Acreage Licensing Policy: India has offered eight blocks of oil and gas in the seventh bid round of Open Acreage Licensing Policy (OALP). The objective is to bring more area under exploration, leading to increase in domestic production and reduction of imports. OALP Launched under the Hydrocarbon Exploration and Licensing Policy (HELP) in 2017. […]
SEBI Bans Derivative Trade In Agriculture Commodities
SEBI Bans Derivative Trade In Agriculture Commodities: The Securities and Exchange Board of India (SEBI) has banned the derivative trade of seven agricultural commodities on the future’s platform of National Commodities and Derivatives Exchange (NCDEX) for a year. The regulator has banned derivative contracts trade in chana, wheat, paddy (non-basmati), soyabean and its derivatives, mustard […]
Foreign Contribution (Regulation) Act (FCRA)
Foreign Contribution (Regulation) Act (FCRA): The Union Ministry of Home Affairs (MHA) has cancelled the Foreign Contribution (Regulation) Act (FCRA), 2010 registration of various non-governmental organisations (NGOs). Suspension of FCRA licence means that the NGO can no longer receive fresh foreign funds from donors pending a probe by the Home Ministry. The FCRA is mandatory […]
Lokur Commission
Lokur Commission: The Supreme Court on Friday stayed all proceedings before Justice Madan Lokur Commission, set up by the West Bengal government to inquire into the alleged interception of mobile phones using military grade spyware Pegasus, disapproving breach of undertaking by the state for halting the commission’s work when the SC was seized of the […]
What is Card Tokenisation? RBI
Card Tokenization : RBI Tokenization will replace card details with a code, called a “token,” which will be specifically for the card, the token requestor and the device being used to pay. Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code […]
World Trade Organization (WTO) Has Ruled Against India’s Sugar Subsidies
World Trade Organization (WTO) Has Ruled Against India’s Sugar Subsidies: A panel set up by the Dispute Settlement Body (DSB) of the World Trade Organization (WTO) has ruled against India’s sugar subsidies. It has asked it to “withdraw its prohibited subsidies under the Production Assistance, the Buffer Stock, and the Marketing and Transportation Schemes within […]
Foreign Direct Investment (FDI) Inflow 2020-21
Foreign Direct Investment (FDI): India has registered the highest ever annual Foreign Direct Investment (FDI) inflow of 81.97 billion dollar in 2020-21. Commerce and Industry Ministry said, FDI inflows in the last seven financial years is over 440 billion dollar, which is nearly 58 percent of the total FDI inflow in last 21 financial years. […]
What is VIHANGAM Platform?
VIHANGAM: An internet-based platform called ‘VIHANGAM’ integrated with a Remotely Piloted Aircraft System (RPAS) at Mahanadi Coalfields Limited (MCL) was inaugurated. Mahanadi Coalfields Limited: It is one of the major coal producing companies of India. It is one of the eight subsidiaries of Coal India Limited. MCL was the first coal company to introduce environment-friendly […]
Incentive on RuPay Debit Card And BHIM UPI Transactions
RuPay Debit Card And BHIM UPI: The Union Cabinet announced that it has approved a scheme to provide incentives of small amounts for transactions done through the RuPay Debit Card and BHIM UPI. This will incur an expense of around ₹1,300 crores. The Government will reimburse transaction charges levied on digital payments made by persons […]
