The Union Finance Minister said that Unity Mall, to promote and sell State’s own One District, One Product (ODOPs), Geographical Indication (GI) and other handicraft products, will be set up in states. She further added that States would be encouraged to set Read More …
Category: Economy
Union Budget 2023-24: FISCAL DEFICIT TO BE AT 5.9%IN FY 2023-24
Continuing the path of fiscal consolidation, the Government intends to bring the fiscal deficit below 4.5 per cent of GDP by 2025-26. This was stated by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman while presenting the Read More …
Pradhan Mantri PVTG Development Mission
T+1 Settlement
After China, India on January 27 became the second country in the world to start the ‘trade-plus-one’ (T+1) settlement cycle in listed securities in stock exchanges. Key points
Sagar Samrat: Mobile Offshore Production Unit
Union Minister of Petroleum and Natural Gas Shri Hardeep Singh Puri rededicated Oil and Natural Gas Corporation’s (ONGC) iconic drilling rig Sagar Samrat, as a Mobile Offshore Production Unit (MOPU) on January 28, 2023.
EoI to be invited for the International Transhipment Port at Great Nicobar Island
As part of the Holistic Development of Great Nicobar Island, THE Ministry of Ports, Shipping and Waterways is working towards development of Mega International Container Transhipment Port (ICTP) at Galathea Bay of Great Nicobar Island of Andaman and Nicobar Islands Read More …
Operation Kanak
Under Operation Kanak, the Central Bureau of Investigation (CBI) in a massive crackdown on the Food Corporation of India (FCI) conducted searches at around 99 locations across the country and recovered cash amounting to Rs 1.03 crore and fixed deposit Read More …
SEBI launches information database on municipal bonds
SEBI has launched an information database on municipal bonds. As part of its efforts to develop the bond markets, an outreach programme on municipal bonds and municipal finance was organised by SEBI in the national capital on January 20 and Read More …
Switzerland became first WTO member to formally accept new Agreement on Fisheries Subsidies
On 20 January, Switzerland became the first WTO member to formally submit its acceptance of the WTO’s new Agreement on Fisheries Subsidies, paving the way for the agreement for ocean sustainability to enter into force. About WTO’s Agreement on Fisheries Read More …
Bombay High Court quashed the write-off of AT-1 bonds issued by Yes Bank
The Bombay High Court on 20th January quashed the write-off of Additional Tier-1 (AT1) bonds worth Rs 8,400 crore issued by Yes Bank Ltd, bringing relief to investors. About AT-1 bonds
Centre releases endorsement guidelines for Celebs and Social Media Influencers
The Ministry of Consumer Affairs has released the endorsement guidelines for celebrities and social media influencers. Key points Key provisions
Formulation of an Adjudicatory Board for Major Ports notified
Section 54 of the Major Port Authorities Act, 2021, which came into force on 3rd November 2021, envisages constitution of an Adjudicatory Board which is to perform the functions stipulated under section 58 of the said Act. Key points
State Finances: A Study of Budgets of 2022-23
The Reserve Bank of India (RBI) on 16h January released the Report titled “State Finances: A Study of Budgets of 2022-23”, an annual publication that provides information, analysis and an assessment of the finances of State governments for 2022-23. The Read More …
NFRA to introduce Annual Transparency Report by the Audit Firms
the National Financial Reporting Authority (NFRA) has published draft requirements regarding preparation and publication of Annual Transparency Report (ATR) by auditors/audit firms.
RBI proposes expected loss-based approach for provisioning by banks
The Reserve Bank of India (RBI) on 16th January released the discussion paper on expected loss (EL)-based approach for loan loss provisioning by bank. It proposes to move to provisioning on the principles of ‘expected losses’ from ‘incurred losses.’ Key Read More …