Bombay Stock exchange (BSE) on October 7 announced that it has got an in-principle nod from the Securities and Exchange Board of India (SEBI) for the social stock exchange (SSE) as a separate segment. Key points The social stock exchange Read More …
Category: Economy
DPIIT notifies establishment of Credit Guarantee Scheme for Startups (CGSS)
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the establishment of the Credit Guarantee Scheme for Startups (CGSS). The CGSS will provide credit guarantees to loans extended by Scheduled Commercial Banks, Read More …
Food Innovation Hubs
The World Economic Forum (WEF) is bringing together a network called ‘Food Innovation Hubs‘, to strengthen local innovation ecosystems and achieve self-sufficiency in food production through private-public partnerships (PPP). Key points The hubs are coming up in Columbia, Vietnam, the Read More …
RBI releases concept note on Central Bank Digital Currency
The Reserve Bank Of India (RBI) on 7 October released a concept note on the Central Bank Digital Currency (CBDC). Key points The CBDC is a digital form of currency notes issued by a central bank. This Concept Note explains Read More …
SEBI orders Brickwork Ratings to shut operations in 6 months
The Securities and Exchange Board of India (SEBI) on October 6 cancelled the recognition certificate granted to Brickwork Ratings India, one of the seven registered credit rating agencies (CRAs) in the country, for “repeated lapses” and irregularities in “discharging its Read More …
RBI introduces Internal Ombudsman mechanism for Credit Information Companies (CIC)
The Reserve Bank of India (RBI) has issued directions for appointment of Internal Ombudsman for all Credit Information Companies – CICs. Key points As announced in the monetary policy statement dated 5th August 2022, all complaints that are partly or Read More …
World Bank publishes “Poverty and Shared Prosperity 2022: Correcting Course” report
According to a new World Bank report, titled “Poverty and Shared Prosperity 2022: Correcting Course”, the Covid pandemic has been the biggest setback to global poverty alleviation in decades. New poverty line This report documents these trends using new poverty Read More …
RBI launches SupTech app DAKSH to improve supervisory processes
Reserve Bank of India (RBI) Governor Shaktikanta Das on October 6 launched a new SupTech initiative “DAKSH”. Key points DAKSH is Reserve Bank’s Advanced Supervisory Monitoring System to make the Supervisory processes more robust. DAKSH is a web-based end-to-end workflow Read More …
Centre issues draft guidelines for listing of RRBs on stock exchanges
The Government of India (GoI) has issued draft guidelines for listing Regional Rural Banks (RRBs) in the stock market. Criteria for listing The net worth of at least ₹300 crore during the previous three years. The respective RRBs should also Read More …
India emerges as the world’s largest producer and consumer of sugar
In Sugar Season (Oct-Sep) 2021-22, a record of more than 5000 Lakh Metric Tons (LMT) sugarcane was produced in the country out of which about 3574 LMT of sugarcane was crushed by sugar mills to produce about 394 LMT of Read More …
Convergence between MGNREGS and PMKSY
The Government of India is planning to bring convergence between the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). Key points According to the Desertification and Land Degradation Atlas published by the Read More …
SEBI includes mutual fund units in Insider Trading regulations
The Securities and Exchange Board of India (Sebi) in its board meeting on September 30 decided to include mutual fund units in the SEBI (Prohibition of Insider Trading) Regulations, 2015. SEBI’s decision stems from some instances it had observed in Read More …
RBI categorises16 leading NBFCs in its upper layer list
The Reserve Bank of India (RBI) on September 30 released a list of 16 upper layer non-banking finance companies (NBFC-ULs) that must adhere to enhanced regulation. Key points These companies have been asked by the RBI to put in place Read More …
ONDC network starts beta testing with consumers in Bengaluru
Open Network for Digital Commerce (ONDC) has opened its network to consumers in 16 locations across the city of Bengaluru on September 30. Key points ONDC is an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Read More …
India’s first indigenously developed Vessel Traffic System
Union Minister of Ports, Shipping & Waterways Shri Sarbananda Sonowal unveiled projects worth Rs.231.21 Crore in Tuticorin, Tamil Nadu on September 30. The Minister laid the foundation stone for the Tuticorin SPEEDZ (Coastal Employment Unit) land for development of Port-based Read More …