Authorised Economic Operator (AEO) Status: The Ministry of Finance has granted Authorised Economic Operator (AEO) status to the gem and jewellery sector, as part of efforts to promote ease of doing business. Asian Star, a leading diamond and diamond jewellery manufacturer, became the first in the industry to receive AEO status. Authorised Economic Operator (AEO) […]
Category: Economics Current Affairs
India’s Forex Reserves Drop
India’s Forex Reserves Drop: India’s forex reserves fell by USD 2.282 billion to USD 640.334 billion in the week ending 19th April 2024, as per the Reserve Bank of India (RBI). Foreign currency assets decreased by USD 3.793 billion to USD 560.86 billion. Gold reserves increased by USD 1.01 billion to USD 56.808 billion. Special […]
Asset Reconstruction Companies : RBI
Asset Reconstruction Companies : RBI The Reserve Bank of India (RBI) recently released a master direction for Asset Reconstruction Companies (ARCs). Asset Reconstruction Companies (ARCs) is a specialized financial institution that purchases the bad debts of a bank at a mutually agreed value and attempts to recover those debts or associated securities by itself. They […]
Annual Growth To Harness Demographic Dividend: RBI’s Report
Annual Growth To Harness Demographic Dividend: RBI’s Report According to the recent report, the Indian economy must grow at a rate of 8-10% per annum over the next decade to reap the benefits of its demographic dividend. The RBI emphasizes that India’s developmental strategy for the coming decades should focus on maximizing the contribution of […]
Nifty Next 50 Index
Nifty Next 50 Index: The National Stock Exchange (NSE) has announced the introduction of derivative contracts on the Nifty Next 50 index, set to commence from 24th April 2024. The Nifty Next 50 Index represents 50 companies from Nifty 100, excluding the Nifty 50 companies. NSE has received approval from the Securities and Exchange Board […]
Advance Pricing Agreement : CBDT
Advance Pricing Agreement : CBDT The Central Board of Direct Taxes (CBDT) has achieved a remarkable milestone by signing 125 Advance Pricing Agreements (APAs) during the fiscal year 2023-24. This surge in APA signings underscores the growing importance of transfer pricing regulations and the efforts to provide certainty to taxpayers. In an additional development, India […]
Bitcoin Halving Event
Bitcoin Halving Event: The cryptocurrency community is gearing up for the upcoming Bitcoin halving event, which is likely to be held this weekend. The halving refers to an alteration in the foundational blockchain technology of Bitcoin, aimed at decreasing the pace of generating new bitcoins. Since its creation by the pseudonymous figure Satoshi Nakamoto, Bitcoin […]
100 % FDI In Space Sector
100 % FDI In Space Sector: The Finance Ministry has notified amended rules under the Foreign Exchange Management Act to operationalise its earlier decision to allow up to 100 per cent foreign direct investment (FDI) for the space sector. The new rules came into effect from April 16. The Union Cabinet had approved the amendment […]
Sovereign Green Bonds : Study
Sovereign Green Bonds : Study The Reserve Bank of India (RBI) recently green-lighted investments in the country’s Sovereign Green Bonds (SGrBs) by Foreign Institutional Investors (FIIS). A green bond is a debt security that is issued to raise capital to support climate-related or environmental projects, according to the World Bank. SGBs are issued by governments […]
Imported Inflation : ADB Warning
Imported Inflation : ADB Warning The Asian Development Bank recently warned that India could face imported inflation as the rupee could depreciate amid the rise in interest rates in the West. Imported Inflation is a general and sustainable price increase due to an increase in the costs of imported products. This price increase concerns the […]
