The Minister of Commerce & Industry Shri Piyush Goyal unveiled a significant initiative to issue system based automatic ‘Status Holder’ certificates under the Foreign Trade Policy (FTP) 2023. Key points
Category: Economy
Baiga tribal group gets habitat rights in Chhattisgarh
The Baiga Particularly Vulnerable Tribal Group (PVTG) became the second to get habitat rights in Chhattisgarh, after the Kamar PVTG.
RBI extends PCA framework for NBFCs to government NBFCs
The Reserve Bank of India (RBI) has extended the prompt corrective action (PCA) framework for NBFCs to government NBFCs with effect from October 1, 2024. Some of the major government owned non-banking financial companies (NBFCs) include PFC, REC, IRFC and Read More …
Economics Nobel 2023 awarded to Claudia Goldin
The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2023 to Claudia Goldin (USA) “for having advanced our understanding of women’s labour market outcomes.” Key findings of Read More …
RBI doubles Bullet Repayment Gold loan limits for urban co-op banks
The Reserve Bank of India (RBI) has increased the monetary ceiling of gold loans under Bullet Repayment Scheme from 2 lakh rupees to 4 lakh rupees for Urban Co-operative Banks.
Expected credit-loss-based (ECL) framework
Recently, the Reserve Bank of India constituted an external working group on an expected credit-loss-based (ECL) framework for provisioning by banks.
Cape Town Convention and Protocol and Insolvency and Bankruptcy Code 2016
In a big relief for aircraft lessors, the Ministry of Corporate Affairs has notified that the protection offered to a corporate debtor from recovery of dues under the Insolvency and Bankruptcy Code 2016 will not cover aircraft, helicopters and engines. Read More …
India retains 40th rank in the Global Innovation Index 2023
India retains 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization (WIPO). Key points India has been on a rising trajectory, over the past several years in the Global Read More …
Indian government bonds in the JPMorgan EM debt index
JP Morgan Chase and Company (JPM) has confirmed that it will add Indian government bonds to its benchmark emerging markets bond index starting from 28th June 2024. Key points
AI Chatbot launched for PM-KISAN Scheme
Union Ministry of Agriculture & Farmers Welfare launched AI Chatbot for the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme. Key points Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
RBI introduces Basel-III capital framework for All India Financial Institutions (AIFIs)
The Reserve Bank of India (RBI) has introduced norms on the Basel III capital framework, fund raising, exposure guidelines, and norms on classification and valuation of investment portfolios for All India Financial Institutions (AIFIs). The framework will come into effect Read More …
RBI raised caution against a return to the Old Pension Scheme (OPS)
A study by the Reserve Bank of India (RBI) has raised caution against a return to the Old Pension Scheme (OPS), estimating that its implementation will result in a 4.5 times more financial burden on the government compared to the Read More …
Asian premium
Saudi Arabia, the world’s second largest oil producer, has slashed the Asian premium charged on exports to India while many others have discontinued it altogether after India began sourcing the bulk of its oil requirements from Russia. Key points
Kisan Rin Portal (KRP) & WINDS
The Ministry of Agriculture & Farmers Welfare launched three initiatives, namely the Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, an ambitious campaign aiming to extend the benefits of the Kisan Credit Card (KCC) Scheme to every farmer across the Read More …
FSSAI recognises Mithun as a ‘food animal’
The Food Safety and Standards Authority of India (FSSAI) recognised the bovine Mithun as a ‘food animal’, starting September 1, 2023. Key points