Legal Metrology (Packaged Commodities), Rules 2011: To safeguard interest of consumers, the Department of Consumer Affairs under Ministry of Consumer Affairs, Food and Public Distribution has omitted the Rule 5 of the Legal Metrology (Packaged Commodities), Rules 2011 defining the Schedule II prescribing the pack sizes of various types of commodities. A new provision has […]
Category: Economics Current Affairs
India Ahead of China in Financial Inclusion
Financial Inclusion: India is now ahead of China in financial inclusion metrics, with mobile and Internet banking transactions rising to 13,615 per 1,000 adults in 2020 from 183 in 2015 and the number of bank branches inching up to 14.7 per 1 lakh adults in 2020 from 13.6 in 2015, which is higher than in […]
National Education Policy: Not Be Implemented In Tamil Nadu
National Education Policy: Not Be Implemented In Tamil Nadu Chief Minister M K Stalin has said the National Education Policy (NEP) 2020 will not be implemented in Tamil Nadu. An expert committee would be formed soon to prepare a new education policy of the state. Tamil Nadu’s arguments: NEP being recommended by the Centre was […]
Rise in Oil And Food Prices
Oil And Food Prices: Last week, the UN Food and Agriculture Organisation released data showing its world Food Price Index (FPI) averaging 133.2 points in October, the highest since July 2011. No less significant, though, is the way the FPI has oscillated since the outbreak of Covid-19. In May 2020, when the global economy was […]
Asset Reconstruction Companies (ARCs): RBI
Asset Reconstruction Companies (ARCs): RBI A Reserve Bank of India (RBI) committee has come out with a host of suggestions in a bid to streamline the functioning of Asset Reconstruction Companies (ARCs). The performance of the ARCs has so far remained lacklustre, both in ensuring recovery and in revival of businesses. Lenders could recover only […]
Edible Oil Prices
Edible Oil Prices: Government has slashed the basic duty on crude palm oil, crude soyabean oil and crude sunflower oil from 2.5 percent to nil in a bid to reign in continuous rise in the cooking oil prices since past one year. The Agri-cess on these Oils has been brought down from 20 percent to […]
Prompt Corrective Action (PCA) Framework: RBI
Prompt Corrective Action (PCA) Framework: RBI The Reserve Bank of India (RBI) has announced a revised Prompt Corrective Action (PCA) framework. The PCA framework enables supervisory intervention of RBI over Banks at an appropriate time and ensures effective market discipline. The framework applies to all banks operating in India, including foreign banks operating through branches […]
Infrastructure Investment Trust (InvIT)
Infrastructure Investment Trust (InvIT): Canadian Pension Plan Investment Board and Ontario Teachers’ Pension Plan will be the anchor investors for the Infrastructure Investment Trust (InvIT) of the National Highways Authority of India (NHAI) with each picking up 25% stake. Besides, NHAI would retain a minimum of 15% equity and the rest would be offered to […]
Cairn Energy Tax Dispute
Tax Dispute: Cairn Energy has entered into certain undertakings with India which would allow for the refund of taxes under a billion-dollar dispute. In December 2020, a three-member international arbitral tribunal at the Permanent Court of Arbitration in the Netherlands ruled unanimously that the Indian government was “in breach of the guarantee of fair and […]
Revised Prompt Corrective Action (PCA) Framework For Banks
Revised Prompt Corrective Action (PCA) Framework For Banks: The RBI has issued a revised Prompt Corrective Action (PCA) framework for banks to enable supervisory intervention at “appropriate time” and also act as a tool for effective market discipline. The revised PCA framework will be effective from January 1, 2022. Capital, asset quality and leverage will […]
