Reserve Bank Integrated Ombudsman Scheme : Report As per a recent report the number of complaints filed under the Reserve Bank’s ombudsman schemes increased by over 68 per cent to 7.03 lakh in the fiscal 2022-23. The complaints pertained to mobile/electronic banking, loans and advances, ATM/debit cards, credit cards, pension payments, remittances, and para banking, […]
Category: Economics Current Affairs
ULLAS Initiative
ULLAS Initiative: The Ministry of Education is set to conduct the Foundational Literacy and Numeracy Assessment Test (FLNAT) as part of the ULLAS – Nav Bharat Saaksharta Karyakram. The Understanding Lifelong Learning for All in Society (ULLAS) initiative is poised to revolutionise education and literacy across the nation. It is done by fostering a learning […]
Grievance Redressal Assessment Index : Ranking
Grievance Redressal Assessment Index : Ranking The Ministry of Home Affairs has consistently ranked amongst the top 10 Ministries in 2023-24 in the grievance redressal assessment index (GRAI). Grievance Redressal Assessment Index was conceptualised and designed by the Department of Administrative Reforms and Public Grievances (DARPG), Government of India. Objective is to present an organisation-wise […]
T+0 settlement : SEBI
T+0 settlement : SEBI The Securities and Exchange Board of India (SEBI) recently approved the launch of the beta version of the T+0 settlement on an optional basis. T+0 Settlement means that the funds and securities for a transaction will be settled on the day the trade was entered. At present, the Indian securities markets […]
World Gold Council
World Gold Council: The Reserve Bank of India (RBI) bought 8.7 tonne of gold in January, making it the largest purchase by the central bank since July 2022, according to World Gold Council data. World Gold Council (WGC) is the market development organisation for the gold industry. It is a nonprofit association formed in 1987 […]
What Is Regulatory Sandbox (RS)?
What Is Regulatory Sandbox (RS)? The Reserve Bank of India (RBI) revised the timeline for the completion of various stages of a Regulatory Sandbox (RS) to nine months from the previous seven months. A Regulatory Sandbox (RS) refers to live testing of new products or services in a controlled regulatory environment for which regulators may […]
National Curriculum For Early Childhood Care And Education (ECCE)
National Curriculum For Early Childhood Care And Education (ECCE): The Ministry of Women and Child Development has launched a National Curriculum for Early Childhood Care and Education (ECCE) for children aged three to six years, along with a National Framework for Early Childhood Stimulation (NFECS) for children from birth to three years. NFECS (National Framework […]
Index Of Industrial Production : January 2024
Index Of Industrial Production : January 2024 The Ministry of Statistics and Programme Implementation recently released the Quick Estimates of the Index of Industrial Production (IIP) for January 2024, revealing a growth of 3.8 percent. Index of Industrial Production (IIP) is one of the prime indicators of economic development for the measurement of trends in […]
Minimum Alternate Tax
Minimum Alternate Tax: The Income Tax Appellate Tribunal (ITAT) recently observed that the assessee was entitled to claim credit for Minimum Alternate Tax (MAT) under the Vivad se Vishwas (VSV) Scheme. Minimum Alternate Tax (MAT) is a provision in the Income Tax Act of India. It primarily applies to companies and is designed to ensure […]
Core Inflation
Core Inflation: According to economists, core inflation is likely to remain low, around 3% in the near term, owing to weak rural demand, softness in housing inflation and lower input cost pressures. Core Inflation is the change in the costs of goods and services excluding the price variations in seasonal elements, such as those related […]
