Windfall Tax : India Cut Its Windfall Tax On Petroleum Crude India cut its windfall tax on petroleum crude to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a recent government notification. Windfall Tax levied by governments against certain industries when economic conditions allow those industries to experience significantly above-average profits. […]
Category: Economics Current Affairs
Bharat Tex 2024
Bharat Tex 2024: Union Minister for Textiles, Shri Piyush Goyal, reviewed the progress of the upcoming mega textiles event, Bharat Tex 2024, during a meeting with textile Export Promotion Councils and ministry officials. Bharat Tex 2024 is a global textile mega-event organized by 11 Textile Export Promotion Councils in collaboration with the Ministry of Textiles. […]
Mulya Pravah 2.0
Mulya Pravah 2.0: The University Grants Commission (UGC) is pushing for values and ethics in higher education through guidelines like Mulya Pravah 2.0. Mulya Pravah 2.0 is a guideline issued by the University Grants Commission (UGC) in India, aiming to instil human values and professional ethics in higher education institutions. It is a modified version […]
Dynamic Asset Allocation
Dynamic Asset Allocation: Asset management company (AMC) PPFAS Mutual Fund recently filed for an open-ended dynamic asset allocation scheme with the capital market regulator, the Securities and Exchange Board of India (SEBI). DAA is an investment strategy that involves the frequent adjustment of the weights in a portfolio based on the overall market performance or […]
Norms For Politically-Exposed Persons : RBI
Norms For Politically-Exposed Persons : RBI The Reserve Bank of India (RBI) recently updated Know Your Customer (KYC) norms for politically exposed persons (PEPs) who transact with regulated entities (REs), seeking to comply with the recommendations of the Financial Action Task Force (FATF). In the amended KYC master direction, the central bank defines PEPs as […]
Dividend Payout Ratio For Healthy Banks : RBI
Dividend Payout Ratio For Healthy Banks : RBI The Reserve Bank of India has released draft norms allowing banks with strong financial metrics to increase dividend payouts to shareholders up to 50% of profits, from the earlier 40% ceiling. The RBI emphasized it won’t entertain discretionary dispensations for dividends, mandating strict eligibility compliance. This ensures […]
European Bank For Reconstruction And Development : Approved Euro Capital
European Bank For Reconstruction And Development : Approved Euro Capital The European Bank for Reconstruction and Development (EBRD) recently approved a 4-billion-euro capital increase that will enable the bank to double its Ukraine investments. European Bank for Reconstruction and Development (EBRD) is an international financial institution with the mandate to promote transition towards a sustainable, […]
International Financial Services Centres Authority : Global Hub Of Sustainable Finance
International Financial Services Centres Authority : Global Hub Of Sustainable Finance The Prime Minister, during his speech at the Infinity Forum 2.0, emphasised making International Financial Services Centres Authority (IFSCA) a global hub of Sustainable Finance. International Financial Services Centres Authority (IFSCA) has undertaken numerous regulatory initiatives for the development of financial instruments at IFSC […]
P-Note Surge In Indian Markets
P-Note Surge In Indian Markets: In November 2023, there was an increase in participatory note investments, reaching a total of ₹1.31 lakh crore. Participatory Notes (P-Notes) are financial instruments used by foreign investors who wish to invest in Indian markets without directly registering with the market regulator, the Securities and Exchange Board of India (SEBI). […]
Foreign Exchange Management Act : RBI Released a Draft
Foreign Exchange Management Act : RBI Released a Draft The Reserve Bank of India (RBI) recently released a draft ‘Licensing Framework for Authorised Persons (APs)’ under the Foreign Exchange Management Act (FEMA), 1999. FEMA came in 1999 as a successor to the Foreign Exchange Regulation Act, or FERA, of 1973, with changing economic conditions in […]
