National E-Commerce Policy: The Indian government is set to introduce a national e-commerce policy that aims to create a favorable environment for the development of the sector and drive exports. The e-commerce policy was first proposed in 2018 and in 2019, a draft of the e-commerce policy was released. Department for Promotion of Industry and […]
Category: Economics Current Affairs
Draft Guidelines For Bima Vahak
Draft Guidelines For Bima Vahak: IRDAI (Insurance Regulatory and Development Authority of India) has issued a draft Guidelines for Bima Vahak, which is a dedicated distribution channel to reach out to rural areas with the aim to improve insurance penetration in the Hinterland. Bima Vahak Program is one of the components of IRDAI’s “Insurance for […]
Inter-Ministerial Committee (IMC) For World’s Largest Grain Storage Plan
Inter-Ministerial Committee (IMC) For World’s Largest Grain Storage Plan: The Union Cabinet approved forming and empowering an Inter-Ministerial Committee (IMC) to create the world’s largest grain storage plan in the cooperative sector. In order to ensure time-bound and uniform implementation of the Plan in a professional manner, the Ministry of Cooperation will implement a pilot […]
Evergreening Of Loans : RBI
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 […]
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 […]
