The lok Sabha has passed the New Delhi International Arbitration Centre (NDIAC) Bill,2019. The Bill provides for setting up of an independent autonomous body for institutional arbitration and to acquire and transfer the undertakings of International Centre For Alternative Dispute Resolution (ICADR) to NDIAC. The NDIAC will be headed by a chairperson who has been… Continue reading Lok Sabha gives nod to arbitration Bill
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.
CSO must rethink informal sector estimates:Pronab Sen
Former Chief Statistician of India has said that Central Statistics Office (CSO) needs to rethink how it estimates the growth of the informal sector as the current method is no longer accurate. The current method uses the corporate sector data to estimate the activity in the non-corporate sector. However,this works only as long as the… Continue reading CSO must rethink informal sector estimates:Pronab Sen
India has stricter regulatory norms: Basel
According to the findings of the Basel Committee on Banking Supervision (BCBS),Reserve Bank of India’s(RBI) norms on large exposures(LEX) for banks are compliant with the Basel requirements. The assessment was conducted by the Regulatory Consistency Assessment Programme(RCAP). The assessment focused on the completeness and consistency of the domestic regulations enforced by RBI on commercial banks… Continue reading India has stricter regulatory norms: Basel
NHAI Signs MoU with NIIF for funding highway projects
The National Highways Authority of India(NHAI) has signed an MoU with National Investment and Infrastructure Fund(NIIF) for funding highway projects. This agreement is expected to provide innovative financial models including for the Bharatmala Pariyojana. Bharatmala Pariyojana is an umbrella program for the highways sector that focuses on optimizing efficiency of freight and passenger movement across… Continue reading NHAI Signs MoU with NIIF for funding highway projects
Skill development ministry launches Kaushal Yuva Samwaad
The Ministry of Skill Development & Entrepreneurship has launched “Kaushal Yuva Samwad”. Kaushal Yuva Samwaad aims to create a dialogue between the youth and the Ministry. The program is intended to identify and rectify the gaps so that all skill development programs are aligned to the current demands and help in creating a skilled workforce… Continue reading Skill development ministry launches Kaushal Yuva Samwaad
Banks reported 44,016 frauds in last 11 years
According to the data provided by the Finance Ministry,banks have reported 44,016 frauds in the last 11 years since 2008-09.The frauds being considered in the list are those involving ₹1 lakh or more. The ministry said that the government had issued a ‘framework for the timely detection,reporting,investigation relating to large value banks frauds’. The framework… Continue reading Banks reported 44,016 frauds in last 11 years
Parliament adopts resolution levying 200% duty on Pakistani goods
Parliament has adopted a statutory resolution for levying 200% duty on all goods originating in or exported from Pakistan. Statutory Resolution is a resolution in pursuance of a provision in the Constitution or an Act of Parliament. Besides,the resolution related to increasing basic custom duty on lentils, boric acid and diagnostic and laboratory reagents has… Continue reading Parliament adopts resolution levying 200% duty on Pakistani goods
RBI board finalises ‘Utkarsh 2022’
The Reserve Bank of India (RBI) board has finalised a three year roadmap named as Utkarsh 2022. The objective of the policy is to improve regulation and supervision of the central bank. RBI has said that this strategy is in line with the global central banks decision to strengthen the regulatory and supervisory mechanism by… Continue reading RBI board finalises ‘Utkarsh 2022’
SEBI gets teeth to probe new-age cases
The Finance Bill,2019 has given the Securities and Exchange Board of India (SEBI) new powers to act against entities that tamper or destroy electronic databases or fail to furnish information. The bill has introduced section 15HAA in the SEBI Act.The section states that if a person tampers with information to obstruct or influence an investigation,destroys… Continue reading SEBI gets teeth to probe new-age cases
Financial system has surplus liquidity
Finance Minister and RBI Governor has met for the customary post-budget meeting. The RBI Governor has said that the system has sufficient liquidity and the Union Budget has made provisions to ease the NBFC crisis. In the Budget,the Government has announced a one-time six-month partial credit guarantee window to cover up 10% of losses that… Continue reading Financial system has surplus liquidity
