News:Government has decided to expand the scope of corporate spend under Corporate Social Responsibility(CSR) norms. Facts: About CSR: Corporate social responsibility (CSR) was initiated through the Companies Act, 2013. The act mandated companies and government organisations with (a)turnover of Rs1,000 crore or more(b)net worth exceeding Rs 500crore or (c)having more than Rs 5 crore in… Continue reading Corporate social responsibility(CSR)
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.
Bharat Bill Payment System(BBPS)
News:The Reserve Bank of India has expanded the scope of the Bharat Bill Payment System (BBPS) by adding other categories of recurring payments through the portal. Facts: About BBPS: BBPS is an interoperable platform for repetitive bill payments.It functions under the aegis of National Payments Corporation of India (NPCI). It is a one-stop payment platform… Continue reading Bharat Bill Payment System(BBPS)
MSDE, IBM come together for nationwide Train-the-Trainer program in AI
News:Ministry of Skill Development has signed an agreement with Global IT major IBM for nationwide Train-the-Trainer program in Artificial Intelligence. Facts: About the program: As part of the program,trainers will be trained on basic Artificial Intelligence(AI) skills towards using the technology in their day-to-day training activities. The program will be executed over a period of… Continue reading MSDE, IBM come together for nationwide Train-the-Trainer program in AI
In liquidity push, PSBs plan ‘loan melas’ in 400 districts
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
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?
