RBI Ban on NDD Contracts: The Reserve Bank of India (RBI) has restricted banks’ participation in Non-Deliverable Derivative (NDD) contracts to curb offshore currency manipulation and stabilize the Indian Rupee (INR) amidst global geopolitical tensions.Following the directive, the Rupee staged a sharp recovery, rallying from below 95 to 93.10 against the US Dollar as speculative […]
Category: Current Affairs
Petrochemical Duty Waiver
Petrochemical Duty Waiver: The Government of India has announced a full customs duty exemption on 40 critical petrochemical products until 30th June, 2026, to counter cost pressures and supply chain volatility triggered by the ongoing West Asia conflict.Petrochemical products are the fundamental chemical “building blocks” derived from petroleum or natural gas. They serve as the […]
General Anti Avoidance Rules
General Anti Avoidance Rules: India has amended income tax rules and has clarified that gains arising from assets acquired before April 1, 2017, will remain outside the ambit of general anti-avoidance rules (GAAR). General Anti Avoidance Rules is an anti-tax avoidance law in India to curb tax evasion and avoid tax leaks. It came into […]
Gangotri National Park
Gangotri National Park: The Gangotri National Park reopened after six-month winter break. It is located in Uttarakhand. It sits along the upper catchment of the Bhagirathi River. The northeastern section of the park forms the international boundary of India and Tibet (China). The area enclosed by the park also borders Kedarnath Wildlife Sanctuary and Govind […]
Multi-Hazard Early Warning Decision Support System
Multi-Hazard Early Warning Decision Support System: The Multi-Hazard Early Warning Decision Support System represents a decisive transformation in India’s approach to weather forecasting and disaster risk reduction. It is an advanced digital forecasting platform developed by the Indian Meteorological Department (IMD) using open-source technology and in-house expertise. It is digital transformation initiative under Mission Mausam. […]
Newcastle Disease
Newcastle Disease: In News Reports of Newcastle disease circulating across Europe, poultry producers across the UK are being urged to step up vigilance as the virus continues its concerning westward spread. It is caused by avian paramyxovirus serotype 1, affects chickens and a wide range of other birds. It is a highly contagious and often […]
Earthquake Lights
Earthquake Lights: Small earthquakes shook parts of the Aegean Sea near Turkey and Greece and floating lights appear in the sky after earthquake near Turkey which is called as earthquake lights by the scientists. Earthquake lights are flashes, streaks, balls, or tall pillars of light that sometimes appear in the sky right before, during, or […]
Trade Enablement and Marketing Initiative
Trade Enablement and Marketing Initiative: The Minister of State for Micro, Small and Medium Enterprises informed the Lok Sabha about the Trade Enablement and Marketing Initiative. It is a Central Sector Scheme under the Raising and Accelerating MSME Performance (RAMP) Programme. The initiative will empower MSMEs with digital tools and guidance to effectively utilize the […]
SAMPANN Platform
SAMPANN Platform: The Goa government and the Cochin Port Authority have taken a significant step towards modernizing pension disbursement by signing agreements to onboard the SAMPANN digital platform. SAMPANN (System for Accounting and Management of Pension) is the flagship digital pension and financial management platform of the Department of Telecommunications. It is managed by the […]
Non-Deliverable Derivative
Non-Deliverable Derivative: The Reserve Bank of India (RBI) gave directive to bar banks from Non-Deliverable Derivative (NDD) contracts in the rupee. An NDD is a derivative contract where two parties agree on a future exchange rate for the rupee, but settle the difference in cash, usually in US dollars. As India has capital controls, offshore […]
