IRDAI Vision 2047: The Insurance Regulatory and Development Authority of India (IRDAI), as part of its Vision Insurance for all’ by 2047, has allotted states and union territories to every insurer to increase insurance penetration in India. IRDAI is also planning to launch Bima Trinity – Bima Sugam, Bima Vistar, Bima Vaahaks – in collaboration […]
Category: Economics Current Affairs
London Interbank Offered Rate (LIBOR) : RBI
London Interbank Offered Rate (LIBOR) : RBI The Reserve Bank of India (RBI) has advised banks and other Regulated Entities to move away from the London Interbank Offered Rate (LIBOR) and transition to Alternative Reference Rates (ARR). The transition away from LIBOR is aimed at reducing reliance on a benchmark that is susceptible to manipulation […]
Angel Tax : Exemption
Angel Tax : Exemption The Central Board of Direct Taxes (CBDT) has announced a proposal to exempt certain categories of investors from the levy of angel tax. The move aims to encourage investments in start-ups and ease the burden of taxation. Additionally, the CBDT has introduced five new valuation methods for resident investors, expanding the […]
Mega Textile Park
Mega Textile Park: New Mega Textile Park at Dhar district will strengthen Make in India and will create new job opportunities The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. It is under PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme. It will offer the […]
Annual Forex Spends Up To ₹7 Lakh Exempted From TCS
Annual Forex Spends Up To ₹7 Lakh Exempted From TCS: India will not impose a 20% tax on spending of up to 7 lakh rupees through international debit and credit cards in a financial year to eliminate any procedural uncertainties. This decision comes in response to concerns raised regarding the application of Tax Collection at […]
School To Work Transition Workshop
School To Work Transition Workshop: The Ministry of Education and the World Bank organized a workshop on School-to-Work Transition under the STARS Program. The workshop aimed to strengthen vocational education and discuss skill gap analysis in the six STARS states. The Strengthening Teaching-Learning and Results for States (STARS) Programme is a world bank aided initiative, […]
Rs 2000 Denomination : RBI
Rs 2000 Denomination : RBI The RBI has decided to withdraw the Rs 2000 denomination banknotes from circulation. On November 8 2016, the PM of India announced demonetisation, withdrawing two banknotes (Rs 500 and Rs 1000) from circulation with immediate effect. The Rs 2000 and the new Rs 500 note were introduced under (Section 26) […]
European Bank For Reconstruction And Development
European Bank For Reconstruction And Development: The European Bank for Reconstruction and Development (EBRD) recently pledged further support for war-torn Ukraine with plans to increase its capital by 3 billion-5 billion euros. European Bank for Reconstruction and Development (EBRD) is an international financial institution with the mandate to promote transition towards a sustainable, open market […]
London Interbank Offered Rate
London Interbank Offered Rate: The Reserve Bank of India (RBI) recently told banks and other regulated entities to ensure a complete transition away from the London Interbank Offered Rate (LIBOR). London Interbank Offered Rate (LIBOR) is a benchmark interest rate at which major global banks lend to one another in the international interbank market for […]
WPI Inflation Rate
WPI Inflation Rate: The WPI inflation has fallen into negative for the first time since July 2020. According to data released by the Ministry of Commerce and Industry, INFLATION RATE based on Wholesale Price Index (WPI) fell to a near three-year low of (-) 0.92 % in April, slipping into negative territory for the first […]
