News:Recently,the Central Board of Direct Taxes(CBDT) has notified rules for furnishing Country-by-Country Report(CbC) specifying information pertaining to all large multinational enterprises(MNEs). Facts: About Country-by-Country Report: The BEPS Action 13 report provides the multinational enterprises(MNEs) to report annually and for each tax jurisdiction in which they do business the information set out therein.This report is called… Continue reading Country-by-Country Reports
Category: Factly – Indian Economy
This category contains all Current Affairs Factly Articles for Prelims, related to the Indian economy. You can find all relevant Economy updates on this page. This page is specifically useful for UPSC Prelims exam.
Small Farmers Agribusiness Consortium(SFAC)
News:Recently,the Small Farmers Agribusiness Consortium(SFAC) has signed an MoU with the Agricultural and Processed Food Products Export Development Authority(APEDA) to bring in better synergy in the agricultural activities. Facts: About SFAC: Small Farmers Agribusiness Consortium(SFAC) is an Autonomous Society promoted by the Ministry of Agriculture,Government of India.It was registered under Societies Registration Act,1860 in 1994.… Continue reading Small Farmers Agribusiness Consortium(SFAC)
RBI announces Rs 10,000 crore Open Market Operations(OMO)
News:The Reserve Bank of India(RBI) has announced Rs 10,000 crore open market operations in a bid to increase liquidity and enhance confidence in the market amid the coronavirus crisis. Facts: About Open Market Operations(OMO): Open market operations is the sale and purchase of government securities and treasury bills by RBI or the central bank of… Continue reading RBI announces Rs 10,000 crore Open Market Operations(OMO)
RBI releases new guidelines for payment aggregators
News:The Reserve Bank of India (RBI) has released guidelines for regulating activities of Payment Aggregators(PAs) and Payment Gateways(PGs) in the country. Facts: About:Reserve Bank of India(RBI) has defined Payment Gateways and Payment Aggregators as those entities who: provide technology infrastructure to route and / or facilitate processing of an online payment transaction and perform other… Continue reading RBI releases new guidelines for payment aggregators
Initiatives taken by Government to curb Fake Currency
News:The Minister of State for Finance has informed Lok Sabha about the initiatives taken by Government to curb Fake Indian Currency Network(FICN) Facts: About FICN Coordination Group(FCORD): FICN Coordination Group(FCORD) has been formed by the Ministry of Home Affairs(MHA). It aims to share intelligence/information among the different security agencies of the state/centre to counter the… Continue reading Initiatives taken by Government to curb Fake Currency
Bear and Bull Markets
News:Recently, NSE Nifty index has entered into ‘bear market’ territory in the backdrop of the declaration of the coronavirus outbreak, a pandemic by the World Health Organisation(WHO). Facts: About Bear Market: A bear market is a market that is receding where most stocks are declining in value due to widespread pessimism and negative investor sentiment.… Continue reading Bear and Bull Markets
MSME Sambandh and Udyam Sakhi Portal
News:Union minister for Micro, Small & Medium Enterprises(MSME) has urged all the female entrepreneurs to take maximum benefits from the MSME Sambandh and Udyam Sakhi Portal. Facts: About MSME Sambandh: The portal aims to to help in monitoring the implementation of public procurement policy for micro and small enterprises. About Udyam Sakhi: It is an… Continue reading MSME Sambandh and Udyam Sakhi Portal
Cabinet approves“Remission of Duties and Taxes on Exported Products (RoDTEP)” Scheme
News:Union Cabinet has given its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products(RoDTEP). Facts: About the Scheme: Aim:To reimburse taxes and duties paid by exporters such as value added tax, coal cess, transportation cost among others which are not getting exempted or refunded under any other existing mechanism. It… Continue reading Cabinet approves“Remission of Duties and Taxes on Exported Products (RoDTEP)” Scheme
Explained:AT-1 bonds
News:The Reserve Bank of India(RBI) reconstruction plan for Yes Bank has put at risk nearly Rs 9,000 crore worth of AT-1 bonds. Facts: About AT-1 Bonds: Additional tier-1 bonds also called AT1 are a type of unsecured, perpetual bonds that banks issue to shore up their core capital base to meet the Basel-III norms. The… Continue reading Explained:AT-1 bonds
Shared economy at $2 bn by end-2020
News:According to a recent report by Maple Capital Advisors, the Shared economy in India is estimated to be about $2 billion industry by the end of 2020. Facts: About Shared Economy: The sharing economy is an economic model defined as a peer-to-peer (P2P) based activity of acquiring, providing or sharing access to goods and services… Continue reading Shared economy at $2 bn by end-2020
