Category: Economics Current Affairs

15th East Asia Summit Energy Ministers Meeting: The Union Minister of State for Power attended the 15th East Asia Summit Energy Ministers Meeting. The theme of the meeting was “We Care, We Prepare, We Prosper”. The meeting was aimed at coordinating efforts of Association of Southeast Asian Nations (ASEAN) countries in pursuing the goal of […]

New Bad Bank Structure: The Union Cabinet approved the Rs 30,600 crore guarantee to back Security Receipts issued by National Asset Reconstruction Company Limited (NARCL) for acquiring stressed loan assets. The NARCL is a part of a new Bad bank structure that was announced in the Budget 2021. About the New Bad Bank Structure: For […]

National Financial Reporting Authority (NFRA): National Financial Reporting Authority (NFRA) Chairperson has pitched for a ‘standalone legislation’ for the regulator in the interests of autonomy. He also demanded that all necessary penal provisions relating to financial reporting should be consolidated and vested with it. Currently, the NFRA may take action against auditors for professional misconduct […]

Shoonya Campaign: NITI Aayog: NITI Aayog and Rocky Mountain Institute (RMI) and RMI India’s have launched the Shoonya Campaign. It is an initiative to promote zero-pollution delivery vehicles by working with consumers and industry. RMI is an independent nonprofit organization founded in 1982. Shoonya Campaign: Electric Deliveries: The campaign aims to accelerate adoption of Electric […]

Production Linked Incentive (PLI) Scheme For Automobile Industry: Union Cabinet has approved the Production Linked Incentive (PLI) Scheme for Automobile Industry. The PLI scheme for the auto sector will incentivize high value Advanced Automotive Technology vehicles and products. The incentive structure will encourage industry to make fresh investments for indigenous global supply chain of Advanced […]

Production Linked Incentive (PLI) Scheme For Drone Industry: Union Cabinet has approved the Production Linked Incentive (PLI) Scheme for Drone Industry. The PLI Scheme for the Drones and Drone components industry addresses the strategic, tactical and operational uses of this revolutionary technology. The total amount allocated for the PLI scheme for drones and drone components […]

Index Of Industrial Production: India’s industrial output grew by 11.5% in July compared to a 10.5% contraction a year ago, as per quick estimates from the National Statistical Office (NSO). Mining, manufacturing and electricity recorded growth of 19.5%, 10.5% and 11.1%, respectively, albeit driven by favourable base effect. The country’s output of the eight core […]

IRDAI (Trade Credit Insurance) Guidelines, 2021:   The Insurance Regulatory and Development Authority of India (IRDAI) has issued revised guidelines for trade credit insurance. Trade credit insurance protects businesses against the risk of non-payment for goods and services. It usually covers a portfolio of buyers and indemnifies an agreed percentage of an invoice or invoices […]

National Financial Reporting Authority (NFRA):   As it seeks to enhance engagement with stakeholders, the National Financial Reporting Authority (NFRA) will set up a single stakeholders’ advisory group as well as a research cell to support the group. A large majority of the respondents have expressed the urgent need for a settlement mechanism rather than […]

T+1 Settlement System: If stock Markus exchanges agree to the proposal for the T+1 settlement system made by the Securities and Exchange Board of India (Sebi), investors will get money for shares they sold or bought in their accounts faster, and in a safer and risk-free environment. On September 7, Sebi allowed stock exchanges to […]