Category: Economics Current Affairs

What Is Vostro Account? The Reserve Bank of India (RBI) has allowed the opening of nine special vostro accounts in two Indian Banks (UCO Bank and IndusInd Bank) for the settlement of payments in rupee for trade between India and Russia. Russia’s two largest banks — Sberbank and VTB Bank — are the first foreign […]

Financing India’s Urban Infrastructure : World bank   The report, titled “Financing India’s Urban Infrastructure Needs: Constraints to Commercial Financing and Prospects for Policy Action” was released by the World bank. The report underlines the urgent need to leverage more private and commercial investments to meet emerging financial gaps. Highlights of the Report: India will […]

Multimodal Logistics Park: Reliance Industries Ltd (RIL) has been awarded the project to build India’s first multimodal logistics park (MMLP) in Chennai. To set up the country’s first MMLP, the Centre and Tamil Nadu government have come together to form a special purpose vehicle (SPV), which is amongst National Highways Logistics Management, Rail Vikas Nigam, […]

Eklavya Model Residential Schools (EMRS): The Tribal Affairs Ministry intends to go ahead with its plan to build a new EMRS, despite concerns raised by a Parliamentary panel. EMRS will be constructed on 15 acres of land in all sub-districts with Scheduled Tribe (ST) populations of more than 20,000 people, accounting for at least 50% […]

Eat Right Station Certification: Bhopal Railway Station has been awarded a 4- star ‘Eat Right Station’ certification for providing high-quality, nutritious food to passengers. The 4-star rating indicates full compliance by the station to ensure safe and hygienic food is available to passengers. The ‘Eat Right Station’ certification is awarded by Food Safety and Standards […]

Currency Monitoring List: The US Department of Treasury recently removed India along with Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List of major trading partners that merit close attention to their currency practices and macroeconomic policies. India had been on the list for the last two years. China, Japan, Korea, Germany, Malaysia, Singapore, […]

Report On Municipal Finances : RBI The Reserve Bank of India (RBI) has released the Report on Municipal Finances, compiling and analyzing budgetary data for 201 Municipal Corporations (MCs) across all States. The RBI Report explores ‘Alternative Sources of Financing for Municipal Corporations’ as its theme. Findings: There have been several lacunae in the working […]

Central Counterparty Clearing house (CCP): The European Union’s financial markets regulator European Securities and Markets Authority (ESMA) said it will withdraw recognition of six Indian clearing bodies or central counterparties (CCPs). These six CCPs are Clearing Corporation of India (CCIL), Indian Clearing Corporation Ltd (ICCL), NSE Clearing Ltd (NSCCL), Multi Commodity Exchange Clearing (MCXCCL), India […]

Compulsorily Convertible Preference Shares: Insurance regulator IRDAI has rejected Fairfax proposal to convert the company’s holdings in compulsory convertible preferred shares (CCPS) issued by Go Digit Infoworks into equity shares. CCPS, or Compulsorily Convertible Preference Shares, are a key element of startup financing. It gives the assurance of a fixed rate of return plus the […]

India’s Sovereign Green Bonds Framework: The Union Minister for Finance & Corporate Affairs has approved the final Sovereign Green Bonds Framework of India. Sovereign Green Bonds will be issued for mobilising resources for green projects. The Framework comes close on the footsteps of India’s commitments under “Panchamrit” as elucidated by the Prime Minister at Conference […]