The Central Government has raised over Rs 10,000 crore on a net basis from the 5th further fund offer(FFO) of the Central Public Sector Enterprises(CPSE) Exchange Traded Fund(ETF). The government aims to raise Rs 1.05 lakh crore through disinvestment in 2019-20 up from Rs 85,000 crore raised last fiscal.Disinvestment is defined as the action of… Continue reading Centre raises over Rs 10,000 crore on net basis via CPSE ETF
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.
Centre rejects SEBI plea to amend provision for transferring reserves
The Finance Ministry has refused to accept the request from the Securities and Exchange Board of India(SEBI) to amend the provision that mandates transferring 75% of the market regulator’s surplus funds to the central government. SEBI had written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market… Continue reading Centre rejects SEBI plea to amend provision for transferring reserves
RBI Governor, state-run bank CEOs discuss slow rate transmission
The Reserve Bank of India Governor has discussed the issues of banking sector with the officials of Public sector banks(PSBs) and Indian Banks Association(IBA). During the meeting,the issue of less than desired level of transmission of monetary policy rates was discussed with the banks.Even though the RBI has cut the Repo rate by 75 basis… Continue reading RBI Governor, state-run bank CEOs discuss slow rate transmission
Transmission sector needs ₹5 lakh crore investment for future needs
Confederation of Indian Industry(CII) has said that India’s vision of a 5 trillion-dollar economy will require an estimated investment of Rs 5 lakh crore in the transmission sector over the next few years. CII said that India will be consuming 1.8 trillion units by 2025 as India’s growth trajectory accelerates and this requires large investments… Continue reading Transmission sector needs ₹5 lakh crore investment for future needs
SEBI opposes Centre’s proposal to transfer surplus money to CFI
Securities and Exchange Board of India(SEBI) has written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market regulator’s surplus funds to the central government SEBI said that the proposal would result in compromising its autonomy and its ability to function effectively towards the progress and development of… Continue reading SEBI opposes Centre’s proposal to transfer surplus money to CFI
Cabinet okays amendments to bankruptcy code
The Union Cabinet has approved the Insolvency and Bankruptcy Code (Amendment) Bill,2019. The bill places greater emphasis on time-bound resolution and laying down voting rules of the financial creditors. The amendment provides that the resolution process has to be completed within 330 days including litigations and other judicial process.Presently,the resolution plan for an insolvent company… Continue reading Cabinet okays amendments to bankruptcy code
Bimal Jalan panel finalises report on RBI capital, surplus transfer
RBI had constituted a panel on Economic capital framework(ECF) to address the issue of RBI reserves.The panel was headed by Bimal Jalan. The panel has decided to recommend the RBI to transfer the excess capital from RBI to the government over 3 to 5 years.It will also recommend that the framework should be reviewed periodically.… Continue reading Bimal Jalan panel finalises report on RBI capital, surplus transfer
Banks’ bad loans down at 9.34 lakh crore at FY19-end
Finance minister has informed the Parliament that Gross non performing assets(NPA) of scheduled commercial banks has declined by Rs 1.02 lakh crore to Rs 9.34 lakh crore in 2018-19. Non-performing assets(NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days. The decline in number… Continue reading Banks’ bad loans down at 9.34 lakh crore at FY19-end
Bill to fortify arbitration framework introduced in Rajya Sabha
Government has introduced the Arbitration and Conciliation (Amendment) Bill,2019 in Rajya Sabha.The bill seeks to amend the Arbitration and Conciliation Act,1996. The bill seeks to make India a hub of domestic and global arbitration for settling commercial disputes.It provides for settlement of commercial disputes within six months. The Bill seeks to establish an independent body… Continue reading Bill to fortify arbitration framework introduced in Rajya Sabha
All workers to receive appointment letter; night shift option for women
The Union Cabinet has approved a proposed Code on Occupational Safety,Health and Working Conditions Bill,2019.The bill seeks to merge 13 central labour laws into a single code. The code would enhance the coverage of the safety, health and working conditions provisions manifold as compared to the present scenario. The code says that any business entity… Continue reading All workers to receive appointment letter; night shift option for women
