News:Finance Minister has announced that the public sector banks will be organising loan meals in 400 districts beginning October 3,2019. Facts: About loan melas: The loan melas will be organized by the Public sector banks(PSB) in partnership with Non banking financial companies (NBFCs). The PSBs will focus on giving loans to the ‘RAM’ category namely… Continue reading In liquidity push, PSBs plan ‘loan melas’ in 400 districts
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.
Committee to review Companies, LLP Acts
News:Government of India has constituted the company law committee for examining and making recommendations on various provisions and issues related to implementation of the Companies Act. Facts: About the committee: The committee will consist of 11-members which will be chaired by the Ministry of Corporate Affairs (MCA) secretary Injeti Srinivas. The committee will submit its… Continue reading Committee to review Companies, LLP Acts
Nirvik Scheme
News:Ministry of Commerce & Industry through Export Credit Guarantee Corporation(ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK. Facts: About the scheme: The scheme aims to ease the lending process and enhance loan availability for exporters. Under the scheme,the insurance cover guaranteed will cover up to 90% of the principal and interest.The… Continue reading Nirvik Scheme
Reserve Bank wants stricter rules for e-commerce payments gateways
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
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
