News:RBI has asked for stricter rules for E-commerce marketplaces acting as payment gateways and payment aggregators to other merchants. Facts: What are payment gateways? Payment gateways and payment aggregators refer to entities which provide technology infrastructure to route and facilitate the processing of an online payment transaction and perform other functions without actually handling the… Continue reading Reserve Bank wants stricter rules for e-commerce payments gateways
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.
Digital certificate of origin system unveiled
News:Commerce Ministry has launched the common digital platform for the issuance of certificates of origin. Facts: What Is a Certificate of Origin(CO)? A certificate of origin(CO) is a document declaring in which country a commodity or good was manufactured. The certificate of origin contains information regarding the product, its destination and the country of export.It… Continue reading Digital certificate of origin system unveiled
Steel Import Monitoring System
News:Ministry of Commerce and Industry has launched Steel Import Monitoring System(SIMS). Facts: In Steel Import Monitoring System(SIMS), the importers of specified steel products will register in advance on the web portal of SIMS by providing necessary information. The SIMS will then provide advance information about the steel imports to both the government and stakeholders. Stakeholders… Continue reading Steel Import Monitoring System
India’s mega shopping festivals: What is being planned and what is the impact?
News:Government has announced that India will be organising an annual mega shopping festival in four Indian cities on the lines of massive Dubai Shopping Festival. Facts: About the festival: The mega shopping festival will be held in four major cities by March 2020.The festival is aimed to push more people-to-people contacts and connections. The festival… Continue reading India’s mega shopping festivals: What is being planned and what is the impact?
Goods And Services Tax (GST) Network
News:Goods and Services Tax Network(GSTN) has decided to make Aadhaar authentication mandatory for new dealers from January 2020 to check malpractices in GST. Facts: About GST Network: The GST Network(GSTN) is a non-profit organization.It has been established to manage the entire IT system of the GST portal. This portal is used by the government to… Continue reading Goods And Services Tax (GST) Network
Government unveils package to boost exports, revive housing sector
News:Government has announced a set of measures aimed at two sectors of the economy namely exports and housing sector.These measures are aimed to reverse a deepening economic slowdown. Facts: Special Fund for Housing Projects: A special fund will be set up for providing last-mile funding for housing projects.It will focus on the construction of unfinished… Continue reading Government unveils package to boost exports, revive housing sector
E-assessment scheme
News:Finance Ministry has notified the e-assessment scheme 2019. Facts: Objective of the scheme:The scheme aims to conduct faceless scrutiny assessment of income tax returns (ITR). E-assessment structure: National e-assessment centre: Will issue notice to taxpayers.It will have four bodies under it Regional e-assessment centres: Will get cases from national body, conduct enquiry and pass draft… Continue reading E-assessment scheme
Regulation of non-personal data: MeitY sets up new committee
News:Ministry of Electronics and Information Technology(Meity) has formed a new Committee of Experts to focus on non-personal data. Facts: About the committee: The committee is headed by the Infosys co-founder Kris Gopalakrishna. The committee is mandated to to study various issues relating to non-personal data and to make specific suggestions for consideration of the central… Continue reading Regulation of non-personal data: MeitY sets up new committee
Regulatory Sandbox
News:Insurance Regulatory and Development Authority of India (IRDAI) has launched the Regulatory Sandbox system for innovative technology-led entities. Facts: About Regulatory Sandbox: Regulatory sandbox(RS) is an infrastructure that helps financial technology (FinTech) players live test their products or solutions before getting the necessary regulatory approvals for a mass launch. IRDAI Regulatory sandbox: For the regulatory… Continue reading Regulatory Sandbox
Srivilliputhur palkova bags GI tag
News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Srivilliputhur palkova. Facts: About Srivilliputhur palkova: Srivilliputhur palkova is a sweet made from cow milk and sugar. The palkova is manufactured in and around the municipality of Srivilliputtur in Virudhunagar district,Tamil Nadu. Additional information: About the geographical indication(GI) tag: A geographical indication(GI) is a… Continue reading Srivilliputhur palkova bags GI tag
