Microfinance Institutions : RBI: The Reserve Bank of India (RBI) proposed to lift the interest rate cap on Microfinance Institutions (MFIs), and said all micro loans should be regulated by a common set of guidelines irrespective of who gives them. RBI has suggested a common definition of microfinance loans for all regulated entities. Microfinance loans […]
Category: Economics Current Affairs
Electoral Trust Scheme, 2013
Electoral Trust Scheme, 2013: For the first time, an electoral trust (under Electoral Trust Scheme, 2013) has declared donation through electoral bonds and hasn’t revealed the names of the political parties that received the money, citing anonymity guaranteed under the electoral bond scheme. According to the Association of Democratic Reforms (ADR), this “practice is against […]
Reform Linked Borrowing Window
Reform Linked Borrowing Window: Indian states were able to borrow an extra Rs. 1.06 lakh crore in 2020-21 (FY21) due to the Reform Linked Borrowing window. This was announced to provide an additional leeway to states in order to cope with the adverse effects of Covid-19 pandemic on the economy. This was a nudge, incentivising […]
Central Warehousing Corporation (CWC)
Central Warehousing Corporation (CWC): Union Cabinet approves merger of Central Railside Warehouse Company Limited (CRWC) with Central Warehousing Corporation (CWC). CWC is a Mini-Ratna Category-I CPSE. It is a statutory body which was established under ‘The Warehousing Corporations Act, 1962. It is a public warehouse operator established by the Government of India in 1957 for […]
NIOS Diploma Course In Yogic Science
NIOS Diploma Course In Yogic Science: Minister of State for Education Shri Sanjay Dhotre launched NIOS Diploma course in Yogic Science on the occasion of International Day of Yoga. The National Institute of Open Schooling (NIOS) was formerly known as National Open School. It is the National board of education under the Government of India […]
Other Service Providers
Other Service Providers: Department of Telecommunication has further liberalized the guidelines for Other Service Providers (OSPs). These entities are business process outsourcing (BPO) organisations giving Voice based services, in India and abroad. The Guidelines issued today further liberalized the special dispensation given to OSPs in addition to the major measures already announced and implemented in […]
Increase In Direct Tax Collections
Increase In Direct Tax Collections: India’s direct tax collections in the first two and a half months (April – June) of 2021-22 stand at nearly Rs. 1.86 lakh crore, which is double the collections over the same period of last year that was affected by the national lockdown. The collections last year over the same […]
Flash Sales Ban: Consumer Protection (e-Commerce) Rules 2020
Flash sales: The government proposed changes to the Consumer Protection (e-commerce) Rules 2020, banning all “flash sales” in order to monitor the deep discounts offered on e-commerce websites. Conventional flash sales by third party sellers are not banned on e-commerce platforms but only the predatory ones. Small businesses complain of misuse of market dominance and […]
Swiss Banks: Funds Of Indians Have Risen
Swiss Banks: Funds Of Indians Have Risen Certain reports have appeared in the media on 18.06.2021 stating that funds of Indians in Swiss Banks have risen to over Rs 20,700 crore (CHF 2.55 billion) at the end of 2020 from Rs 6,625 crore (CHF 899 million) at the end of 2019, reversing a 2 year […]
NFRA : National Financial Reporting Authority
NFRA (National Financial Reporting Authority): NFRA has invited suggestions from public on consultation paper on NFRA’s engagement with its stakeholders. NFRA is an independent regulatory body set up under Section 132 of the Companies Act. It was established by the Central Government in October 2018. After the Satyam scandal took place in 2009, the Standing […]
