According to the media reports, India may look at importing dairy products, if needed, as there is a supply constraint for such items due to milk production remaining stagnant in the last fiscal year. Key points
Category: Economy
Prepaid Payment Instruments (PPIs)
Recently the National Payments Corporation of India (NPCI), which governs UPI, intimated the banks that they can now levy charges on merchant transactions made through Prepaid Instrument wallets using UPI. About Prepaid Payment Instruments (PPIs) (Source: The Hindu)
Prices of essential medicines down by 6.73%, says Health Ministry
The National Pharmaceutical Pricing Authority (NPPA) said drugmakers had been allowed to increase prices by up to 12.2 per cent of essential medicines from April 1, based on the change in the wholesale price index (WPI). Key points
Mahila Samman Savings Certificates, 2023
Ministry of Finance has issued the Gazette Notifications for Mahila Samman Savings Certificates, 2023 and has been made available in 1.59 lakh post offices with immediate effect. Key points National Savings (Monthly Income Account) Scheme, 2019
Chhattisgarh’s Nagri Dubraj rice variety gets GI tag
The Geographical Indication Registry granted Chhattisgarh’s aromatic rice, Nagri Dubraj, a geographical indication (GI) tag facilitating the brand to get a unique identity and a wide market. About Nagri Dubraj
‘Captive Employment’ initiative under Deen Dayal Upadhyaya Kaushalya Yojana (DDU-GKY)
Union Minister for Rural Development onboarded 19 Captive Employers, a unique initiative under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) in New Delhi . Key points Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)
Corporate Debt Market Development Fund (CDMDF)
The Securities and Exchange Board of India (Sebi) has approved a Rs 33,000-crore backstop emergency fund “Corporate Debt Market Development Fund (CDMDF)” for debt mutual funds (MFs). The fund was first envisaged in the Union Budget. Key points
IRDAI’s new rules on commission payments
The Insurance Regulatory and Development Authority of India (IRDAI) has removed the product-wise cap on commission payable by Life, General and standalone health insurers to intermediaries and instead notified that such payments will come under the expense of management (EOM) Read More …
Lok Sabha clears forming GST Appellate Tribunal
The Lok Sabha on March 24 passed Finance Bill, 2023 with 64 amendments, including one that seeks to set up the much-awaited GST Appellate Tribunal (GSTAT). About GSTAT Debts funds amendment Credit card expenditure on foreign tours
Union Agriculture Minister launches DigiClaim
Union Minister of Agriculture & Farmers Welfare, Shri Narendra Singh Tomar launched National Crop Insurance Portal’s digitized claim settlement module namely DigiClaim under the ambit of Pradhan Mantri Fasal Bima Yojana (PMFBY). About DigiClaim About Pradhan Mantri Fasal Bima Yojana Read More …
World Happiness Report 2023
On the occasion of ‘International Day of Happiness’ on March 20, ‘World Happiness Report’ unveiled its 11th edition this year. Key highlights India’s ranking (Note: The page has been edited to correct number of countries fact.)
Seven PM MITRA Park sites announced
The Government of India (GoI) on March 17 announced the sites for setting up of 7 PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the Textile industry. PM MITRA Parks-Salient features The Ministry of Textiles will oversee Read More …
Green National Highway Corridors Project
The Government of India and the World Bank have signed an agreement for the construction of Green National Highway Corridors Project (GNHCP) in an aggregate length of 781 km in the states of Himachal Pradesh, Rajasthan, Uttar Pradesh and Andhra Read More …
RBI, UAE central bank sign pact for CBDC transactions
The Reserve Bank of India has signed a memorandum of understanding (MoU) with the Central Bank of the UAE for promoting various emerging areas of fintech, especially central bank digital currency (CBDCs) cross-border transactions. Key highlights RBI CBDC
RBI allows banks from UK, 17 other countries to open Vostro accounts for rupee trade
The Reserve Bank of India (RBI) has granted approvals to foreign banks in 18 countries to open Vostro accounts to settle international trade in rupees. Key points About vostro account