Securities and Exchange Board of India (SEBI) has released a discussion paper for informant mechanism related to insider trading wherein whistleblowers could get monetary reward of up to Rs 1 crore. Insider trading is defined in the SEBI (Prohibition of Insider Trading) Regulations, 2015 to mean trading of securities while in possession of unpublished price… Continue reading SEBI mulls norms to reward whistle-blowers
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.
Sashakt panel hails RBI circular making ICA mandatory
The Chairman of the Sashakt Committee has said the new RBI direction making the Intercreditor Agreement (ICA) framework mandatory is a move in the right direction for resolution of non-performing assets (NPAs or bad loans). The Reserve Bank of India(RBI) has issued a revised prudential framework for resolution of stressed assets.The revised circular was issued… Continue reading Sashakt panel hails RBI circular making ICA mandatory
Reserve Bank relaxes the norms for no-frills accounts
The Reserve Bank of India(RBI) has relaxed the norms for the Basic Savings Bank Deposit(BSBD) accounts or popularly known as no-frills accounts. The BSBD account was designed as a savings account that will offer certain minimum facilities,free of charge to the holders.Such accounts are primarily aimed at enhancing financial inclusion among the economically weaker sections.… Continue reading Reserve Bank relaxes the norms for no-frills accounts
With eye on improving quality of macro-economic aggregates, MoSPI to set up ‘National Data Warehouse’
The Ministry of Statistics and Programme Implementation (MoSPI) has proposed to set up a ‘National Data Warehouse’. The national-level data warehouse works as a central repository of all the statistical data collected various ministries,UTs and state governments.This integrated data allows policy makers and researchers to access data sets,its history and extract it across different groups.… Continue reading With eye on improving quality of macro-economic aggregates, MoSPI to set up ‘National Data Warehouse’
Poised for Growth- The MSME Sector at a Glance
Minister of Micro, Small and Medium Enterprises (MSME) has said that in order to give a boost to the MSME sector, the Ministry would identify goods being imported by India and evaluate those that could be manufactured locally by MSMEs. The Micro- Small and Medium Enterprises (MSMEs) are small sized entities, defined in terms of… Continue reading Poised for Growth- The MSME Sector at a Glance
G20 Finance Ministers call for creation of digital tax
Recently,G20 finance ministers at a meeting Japan has agreed to compile common rules to close loopholes used by global tech giants to reduce their corporate taxes. Global technology firms such as Facebook, Google, Amazon and others face criticism for cutting their tax bills by booking profits in low-tax countries regardless of the location of the… Continue reading G20 Finance Ministers call for creation of digital tax
India calls upon G-20 countries to urgently resolve issue of taxing profits made by offshore digital companies
During the meeting of G-20 finance ministers in Japan,Indian Finance Minister has called on G-20 countries to adopt principle of ‘significant economic presence’ to address challenges to tax profits made by the digital companies. The concept of Significant Economic Presence was introduced in the Income-Tax Act,1961 from April 1,2018. This was introduced to tax the… Continue reading India calls upon G-20 countries to urgently resolve issue of taxing profits made by offshore digital companies
Govt mulling tax on cash withdrawal of Rs 10 lakh a year
The government is planning to introduce a tax on cash withdrawals of Rs 10 lakh in a year.The government is planning this move to discourage use of paper currency, promote digital payments as well as crack down on black money. Further,the government is also considering mandating Aadhaar authentication for all high-value cash withdrawals as the… Continue reading Govt mulling tax on cash withdrawal of Rs 10 lakh a year
RBI revises stressed asset resolution norms
The Reserve Bank of India(RBI) has issued a revised prudential framework for resolution of stressed assets. This revised circular was issued after Supreme Court had declared the RBI’s February 12 circular on the resolution of stressed loans as unconstitutional. This framework will apply to accounts worth Rs 2,000 crore and above but from January 1,2020… Continue reading RBI revises stressed asset resolution norms
Draft bill moots 10-year jail for crypto dealing
Government has introduced a draft bill on Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019. The draft bill says that anybody who mine, hold, transact or deal with cryptocurrencies in any form whether directly or indirectly through an exchange or trading can attract a jail term of one to 10 years. The… Continue reading Draft bill moots 10-year jail for crypto dealing
