Evergreening Of Loans : RBI The Governor of the Reserve Bank of India (RBI), recently addressed bank boards and expressed concerns about banks adopting over-aggressive growth strategies and engaging in the evergreening of loans. The governor emphasized the need for robust corporate governance and highlighted instances of concealing the true status of stressed loans. Evergreening […]
Category: Economics Current Affairs
Lightweight Payment And Settlement System : RBI
Lightweight Payment And Settlement System : RBI The Reserve Bank of India (RBI) recently announced plans to introduce a ‘Lightweight’ Payment and Settlement System (LPSS) for emergencies which was proposed in RBI’s annual report for 2022-23. The lightweight system aims to provide resilience and continuity of payment and settlement systems while ensuring efficiency during emergencies. […]
e-Appeals Scheme 2023
e-Appeals Scheme 2023: The Central Board of Direct Taxes (CBDT) has recently launched the “e appeal” scheme, aimed at addressing the issue of pending appeals related to Tax Deducted at Source (TDS) default and tax collection at source (TCS). This new initiative is expected to streamline the appeal process and expedite the resolution of such […]
Coin Of Rs.75 Denomination
Coin Of Rs.75 Denomination: Prime Minister Narendra Modi unveiled a commemorative coin of Rs 75 denomination. Commemorative coins have been issued by India since the 1960s for various purposes, such as honoring notable personalities, creating awareness about government schemes, or commemorating significant historical events. The newly released Rs 75 coin features a circular shape with […]
IRDAI Vision 2047
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 […]
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, […]
