The Reserve Bank of India has increased the Real Time Gross Settlement(RTGS) time window for customer transactions from 4.30 pm to 6 pm. The RTGS is an online fund transfer system supported by the RBI which enables transmission on a real-time basis. Real time means the beneficiary bank receives the instructions for fund transfer immediately… Continue reading RBI extends RTGS transfer timings
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.
Telangana priming for tech glory with first Blockchain district
Telangana Government has announced a draft blockchain policy to offer regulatory and policy support for blockchain startups based in Hyderabad. The policy was announced with an aim to make Hyderabad as one of the top 10 Blockchain cities of the world. It has also decided to create India’s first Blockchain district within Hyderabad. The Blockchain… Continue reading Telangana priming for tech glory with first Blockchain district
Supreme Court agrees to examine power of authorities to arrest individuals for GST evasion
Supreme Court has decided to examine the power of the government officials to arrest persons for Good and Services Tax (GST) evasion. The court observed that different high courts had taken different views in granting anticipatory bail to individuals accused of GST evasion and therefore, it needs to decide the question of law on the… Continue reading Supreme Court agrees to examine power of authorities to arrest individuals for GST evasion
RBI forms task force on corporate loans
The Reserve Bank of India has constituted a task force on the development of secondary market for corporate loans under T N Manoharan. The task force has also been asked to make recommendations for creation of a loan contract registry to remove information asymmetries between buyers and sellers ownership structure and standardisation of loan information,… Continue reading RBI forms task force on corporate loans
NSIC signs MOU with Ministry of MSME
The National Small Industries Corporation Limited(NSIC) has signed an MoU with Ministry of Micro, Small and Medium Enterprises for the year 2019-20. The MoU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country. Under the scheme of National SC-ST Hub,implemented by NSIC… Continue reading NSIC signs MOU with Ministry of MSME
Draft export policy unveiled
The Commerce Ministry has released a draft export policy.The draft policy is aimed at consolidating the export norms for each product as applicable at different government agencies. Every product has been accorded eight digit HS codes. ITC(HS) codes are better known as Indian Trade Clarification (ITC) and are based on the Harmonized System (HS) of… Continue reading Draft export policy unveiled
Disclose names of big defaulters, CIC tells RBI
The Central Information Commission(CIC) has directed the Reserve Bank of India to disclose the list of big loan defaulters it had sent to banks for resolution. The CIC’s directive came on a plea who had based her RTI application on some reports that RBI Deputy Governor had said that accounts of some loan defaulters have… Continue reading Disclose names of big defaulters, CIC tells RBI
New code in offing for textile, clothing sector
The chairman of the Cotton Textiles and Export Promotion Council (Texprocil) has said that ‘Social and Labor Convergence Programme (SLCP)’ will be launched in India shortly. This program is an initiative to have a standard-neutral, converged assessment framework for the textile and clothing industry. The objective of the initiative is to improve the working conditions… Continue reading New code in offing for textile, clothing sector
SEBI tightens disclosure norms for listed debt securities
Securities and Exchange Board of India (SEBI) has asked debenture trustees to enhance their disclosure for listed debt securities with a view to protecting the interests of investors. Debenture is an instrument of debt executed by the company acknowledging its obligation to repay the sum at a specified rate and also carrying an interest.It is… Continue reading SEBI tightens disclosure norms for listed debt securities
Task force on direct tax laws to submit report by July 31
The task force set up to draft a new direct tax law to replace the existing Income Tax Act has been given 2-month extension till July 31 to submit its report.The task force was scheduled to submit the report by May 31. The task force was set up after Prime Minister during the annual conference… Continue reading Task force on direct tax laws to submit report by July 31
