Strategic Petroleum Reserves (SPR) Programme: India will release 5 million barrels of crude oil from its emergency stockpile in tandem with the U.S., China, Japan, and other major economies to cool oil prices. This is the first time ever that India, which stores 5.33 million tonne or about 38 million barrels of crude oil in […]
Category: Economics Current Affairs
Central Consumer Protection Authority (CCPA)
Central Consumer Protection Authority (CCPA): The Central Consumer Protection Authority (CCPA) has initiated a country-wide campaign to prevent sale of spurious and counterfeit goods that violate Quality Control Orders published by the Central Government. In this regard, CCPA has already issued directions to district collectors across the country to investigate unfair trade practices and violation […]
Draft Scheme Of Amalgamation Of PMC & USF Bank: RBI
Draft Scheme Of Amalgamation Of PMC & USF Bank: RBI: The Reserve Bank of India (RBI) released a draft scheme of amalgamation of Punjab and Maharashtra Cooperative (PMC) Bank and Unity Small Finance Bank (USF). Earlier, PMC was put under restrictions on account of fraud that led to a steep deterioration in the networth of […]
USOF Scheme For Aspirational Districts In 5 states
USOF Scheme For Aspirational Districts In 5 states: The Union Cabinet has approved the Universal Service Obligation Fund (USOF) scheme for provisioning of 4G-based mobile services in uncovered villages of aspirational districts across five states — Andhra Pradesh, Chhattisgarh, Jharkhand, Maharashtra, and Odisha. NITI Aayog’s Aspirational Districts programme aims to quickly and effectively transform 112 […]
Employees’ Provident Fund Organization, EPFO
Employees’ Provident Fund Organization, EPFO: The Central Board of Trustees (CBT) which is the apex decision-making body of Employees’ Provident Fund Organization, EPFO has approved constitution of four sub-committees comprising members of the Board from employees, employers’ side as well as from representatives of the Government side on different matters. Two committees on Establishment related […]
Special Credit Linked Capital Subsidy Scheme
Special Credit Linked Capital Subsidy Scheme: The Ministry of Micro, Small and Medium-sized Enterprises (MSMEs) launched the Special Credit Linked Capital Subsidy Scheme (SCLCSS) for the services sector. The scheme will help in meeting the technology-related requirements of enterprises in the services sector. It has a provision of 25% capital subsidy for procurement of plant […]
Cairn’s Offer On Retrospective Tax
Cairn’s Offer On Retrospective Tax: Moving quickly towards ending a retrospective tax dispute with a firm that gave India its largest oilfield, the government has accepted Cairn Energy PLC undertakings which would allow for the refund of taxes. The company will now be issued a ₹7,900 crore refund. In December 2020, a three-member international arbitral […]
India Becomes The Highest Recipient Of Remittances
India Becomes The Highest Recipient Of Remittances: According to the World Bank’s Migration and Development Brief, India has become the world’s largest recipient of Remittances, receiving USD 87 billion (a gain of 4.6 % from previous year) in 2021. India is followed by China, Mexico, the Philippines, and Egypt. The United States being the biggest […]
What is Digital Lending?
Digital Lending: A Reserve Bank of India (RBI) Working Group (WG) on digital lending, including lending through online platforms and mobile apps has submitted its recommendations. Key recommendations: A separate legislation should be enacted to oversee such lending. Setup a nodal agency to vet the Digital Lending Apps. A Self-Regulatory Organisation should be set up […]
E-Governance For Civil Aviation
E-Governance For Civil Aviation: The Ministry of Civil Aviation has launched the e-Governance for Civil Aviation (e-GCA) online platform through which the Civil Aviation will provide 298 services including pilot licensing and medical examination. The launch of the e-GCA project under DGCA (Directorate General of Civil Aviation) was part of the 100-day plan for the […]
