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
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.
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
Compliance of FDI norms: RBI to unveil report submission mechanism soon
The Reserve Bank of India(RBI) is expected to come up with a mechanism for e-commerce marketplaces to submit their reports proving compliance with the FDI guidelines. According to the FDI norms by the Department for Promotion of Industry and Internal Trade (DPIIT),an e-commerce marketplace entities are required to furnish a certificate along with a report… Continue reading Compliance of FDI norms: RBI to unveil report submission mechanism soon
WPI inflation eases to near two-year low
According to government data,wholesale price-based inflation has reached a 2 year low of 2.02% in June,2019. This decline comes on the back of reduced inflation in the prices of manufactured products as well as a drop in the prices of fuel and power sources. However,RBI has projected upward in food inflation in the near term… Continue reading WPI inflation eases to near two-year low
Govt to look at applicability of 20% tax on ongoing share buyback issues
The Finance Ministry has said that it will look into the applicability of 20% tax proposed in the 2019-20 Budget on the current share buybacks by listed companies. This tax was proposed in the budget to discourage the practice of avoiding Dividend Distribution Tax(DDT) through buybacks by listed companies. Dividend Distribution Tax(DDT) is paid by… Continue reading Govt to look at applicability of 20% tax on ongoing share buyback issues
Fourth anniversary of Skill India Mission being observed today
The fourth anniversary of the Skill India Mission is being observed on the occasion of World Youth Skills Day. The United Nations had declared 15 July as World Youth Skills Day.This day is celebrated to promote youth skills development and abilities. The theme for World Youth Skills Day 2019 is ‘Learning to learn for life… Continue reading Fourth anniversary of Skill India Mission being observed today
DPIIT to soon float draft national retail policy to seek stakeholders’ views
The Department for Promotion of Industry and Internal Trade(DPIIT) will soon introduce draft national retail policy.The policy is aimed at promoting growth of 65 million small traders. The main elements of the policy includes (a)promoting ease of doing business (b)licensing (c)access to funds (d)direct selling and (e)hyper-market related matters. This policy is expected to cover… Continue reading DPIIT to soon float draft national retail policy to seek stakeholders’ views
Tribal SHG women create an organic agro revolution
Recently,a self-help group of tribal women in Wayanad,Kerala has decided to launch a project to carry out organic farming over 100 acres possibly making this the largest tribal foray into organic farming. The members of this group were guided to organic farming by the Krishi Vigyan Kendra(KVK) under the Kerala Agricultural University (KAU). Organic farming… Continue reading Tribal SHG women create an organic agro revolution
