The Parliamentary Standing Committee on Petroleum has flagged the need for importing a wider ranges of crude oil grades so that the cost of the Indian crude basket is reduced. Key points Sweet and Sour crude Light vs Heavy Crude
Category: Economy
Govt. appoints Arvind Panagariya as Chairman of 16th Finance Commission
The Government of India has appointed former vice-chairman of NITI Aayog and Columbia University professor, Arvind Panagariya, as the chairman of the 16th Finance Commission. Key points The Commission shall make recommendations as to the following matters, namely:
Not mandatory for banks, NBFCs to raise green deposits-RBI
The Reserve Bank of India (RBI) on 29 December said it is not mandatory for banks and NBFCs to raise green deposits, but in case they intend to do so they must follow the prescribed framework. Green Deposits-salient features
RBI issued 2023 list of Domestic Systemically Important Banks (D-SIBs)
The Reserve Bank of India (RBI) issued 2023 list of Domestic Systemically Important Banks (D-SIBs) on December 27. Key points
RBI permits lending and borrowing of G-Secs
The Reserve Bank of India (RBI) on 27th December implemented the Government Securities Lending Directions, 2023, effective immediately. In February 2023 of the same year, the central bank had released draft norms for lending and borrowing of government securities aimed Read More …
T+0 Settlement
Recently, the Securities and Exchange Board of India (SEBI) proposed to introduce an optional T+0 (same day) and instantaneous settlement of trades in the equity cash segment.
Scheme for Special Assistance to States for Capital Investment 2023-24
Uttar Pradesh emerged as the largest recipient of the ₹1.3 trillion special assistance to states for capital expenditure in the current fiscal year. About the scheme
Qualified Institutional Placement (QIP)
According to a recent report, listed Indian companies could be allowed to launch qualified institutional placement (QIP) of shares through exchanges at International Financial Service Centres (IFSCs) using an abridged prospectus.
Angola quits OPEC amid dispute over oil production quotas
Angola announced it’s leaving Organization of the Petroleum Exporting Countries (OPEC) following 16 years of membership amid a dispute over oil production quotas. Key points
Paat-Mitro App
The Ministry of Textiles has launched “Paat-Mitro” – a mobile application, developed by The Jute Corporation of India Limited (JCI) during ‘Jute Symposium’. Key points
Lok Sabha passes Provisional Collection of Taxes Bill 2023
The Lok Sabha on 19th December passed the Provisional Collection of Taxes Bill 2023, that seeks to give immediate effect to the changes in customs and excise duties announced in the Budget. It repeals The Provisional Collection of Taxes Act, Read More …
IMF reclassifies India’s exchange rate regime to ‘stabilized arrangement’
The International Monetary Fund (IMF) has reclassified India’s “de facto” exchange rate regime to “stabilized arrangement” from “floating” for December 2022 to October 2023. Key points
National Industrial Corridor Development Programme
India and the Asian Development Bank (ADB) have signed an agreement for a $250 million policy-based loan under the National Industrial Corridor Development Programme/NICDP (subprogramme 2). Key points
Dark fibre
The Securities Appellate Tribunal (SAT) quashed an order passed by the market regulator Securities and Exchange Board of India (Sebi) against the National Stock Exchange (NSE), former top executives Chitra Ramkrishna (pictured), Anand Subramanian and others in the ‘dark fibre’ Read More …
Tax Inspectors Without Borders (TIWB)
Tax Inspectors Without Borders (TIWB) launched a programme in Saint Lucia on 14th December, 2023.