Category: Economics Current Affairs

AT1 Bonds: Discouraged Market The underwhelming subscription to State Bank of India’s additional tier-1 (AT-1) bond issue has dampened market sentiment and is expected to make fund-raising harder for other PSU banks. AT1 bonds are a type of unsecured, perpetual bonds that banks issue to improve their core capital base. The money raised through these […]

Reimposed a Windfall Tax On Domestic Crude Petroleum: The Indian government recently reimposed a windfall tax on domestic petroleum crude. Windfall Tax is a higher tax levied by the government on specific industries when they experience unexpected and above-average profits. When the government notices a sudden increase in an industry’s revenue, they impose this tax. […]

50th Meeting Of GST Council:   At its 50th meeting, the Goods and Services Tax (GST) Council made changes to tax rates on various items and resolved the tax treatment for online gaming, casinos, and horse racing. The Council decided to levy a uniform 28% tax on the full face value of bets placed for […]

E-auction Of Rice : Food Cooperation Of India The Food Cooperation of India (FCI) started an e-auction of rice to control retail prices. Consumer Affairs, Food and Public Distribution Ministry have said that the decision to sell rice through e-auction under the Open Market Sale Scheme (OMSS) from the buffer stock to bulk consumers has […]

Standard Operating Procedure : CBIC The Central Board of Indirect Taxes and Customs (CBIC) has issued a standard operating procedure (SoP) to prevent the use of freebies, illicit liquor, and other prohibited items to lure voters during upcoming elections in India. SoP is a set of guidelines and instructions that define how a particular task […]

Fresh Consultation On The Issue Of Total Expense Ratio (TER) For Mutual Funds : SEBI The SEBI Board meeting held recently decided to issue a fresh consultation on the issue of total expense ratio (TER) for mutual funds. Total Expense Ratio (TER) is a measure of the total costs associated with managing and operating an […]

Variable Rate Reverse Repo Auctions : RBI The Reserve Bank of India (RBI) has continued to conduct variable rate reverse repo auctions (VRRRs) to withdraw excess liquidity from the banking system since June 30. Repo rate is the rate at which the central bank lends money, while the reverse repo rate is the rate at […]

SEBI Complaints Redress System (SCORES) Platform: A total of 3,079 complaints against companies and market intermediaries have been disposed of through the Securities and Exchange Board of India’s (SEBI) SCORES platform recently. SCORES Platform is a web based centralized grievance redress system of SEBI that was launched in June 2011. SCORES enables investors to lodge […]

Notification To Bring The GSTN Under The Purview Of The PMLA: The Central Government recently issued a notification to bring the Goods & Services Tax Network (GSTN) under the purview of the Prevention of Money Laundering Act (PMLA). Prevention of Money Laundering Act (PMLA) is an Act to prevent money laundering and to provide for […]