Author: ForumIAS

7 banks fined for delayed SWIFT implementation Reserve Bank of India(RBI) have imposed a monetary fine on 7 Banks for non-compliance with the directions on Implementing the SWIFT software, Society for Worldwide Interbank Financial Telecommunication(SWIFT) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized… Continue reading 7 banks fined for delayed SWIFT implementation

ED to review loans sanctioned during Chanda Kochhar’s tenure Enforcement Directorate(ED) has decided to expand the scope of investigation by reviewing all loans sanctioned during former ICICI MD Chanda kochhar’s tenure. ED had registered the case against Chanda Kochhar under financial provisions of the Prevention of Money Laundering Act (PMLA).They are investigating whether she made… Continue reading ED to review loans sanctioned during Chanda Kochhar’s tenure

China,US close to reaching a trade deal The United States and China are in the final stage of completing a trade deal.The deal would end the trade war between both the countries that has been escalating since last year. Trade war is a situation where countries restrict each other’s trade by imposing tariff or quota… Continue reading China,US close to reaching a trade deal

China says it is in “close communication” with India and Pakistan to ease tensions China has said that it is planning to send a special envoy to ease tensions between India and Pakistan after the Pulwama attack. China agreed with Russia which said that Counter terrorism Mechanism such as Regional Anti terrorist Structure(RATS) under Shanghai… Continue reading China says it is in “close communication” with India and Pakistan to ease tensions

Pakistan bans UNSC designated outfits; Delhi sceptical Pakistan has enacted a law United Nations Security Council (Freezing and Seizure) Order, 2019.It was enacted in accordance with the provisions of Pakistan’s United Nations Security Council (UNSC) Act, 1948.It implements United Nations sanctions against individuals and organisation. The objective of the order is that the government will… Continue reading Pakistan bans UNSC designated outfits; Delhi sceptical

Sree Padmanabha Swamy temple case: Devotees want committee to manage temple Devotees have argued before the Supreme Court that a broad-based committee like Devosam Board should be created for the management of the Sree Padmanabha Swamy temple.  Sree Padmanabha Swamy temple is a Hindu temple dedicated to Lord Vishnu located in Thiruvananthapuram, Kerala. The devotees… Continue reading Sree Padmanabha Swamy temple case: Devotees want committee to manage temple