The Reserve Bank of India (RBI) has announced several measures to enhance credit flow to the cash-starved non-banking financial companies (NBFC) sector. The RBI has raised any bank’s exposure limit to a single NBFC from the existing 15% to 20% of tier-1 capital.This will ease liquidity pressure in the NBFCs. RBI has also allowed bank… Continue reading Banks’ exposure limits, lending norms eased for stressed NBFCs
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.
Rajya Sabha passes Consumer Protection Bill
Rajya Sabha has passed the Consumer Protection Bill,2019.The bill has already been passed by the Lok Sabha. The bill replaces the Consumer Protection Act,1986.The bill seeks to strengthen the rights of consumers and provides a mechanism for redressal of complaints regarding defects in goods and deficiency in services. The bill defines a consumer as a… Continue reading Rajya Sabha passes Consumer Protection Bill
Government unveils draft e-com norms
The Ministry of Consumer Affairs has introduced the draft e-commerce guidelines for consumer protection. The proposed rules are aimed at curbing the sale of counterfeit goods, streamlining returns and refunds and delineating the liabilities of sellers and online marketplaces. The rules provides that every e-commerce entity needs to publish the name and contact details of… Continue reading Government unveils draft e-com norms
KABIL set up to ensure supply of critical Minerals to Indian domestic market
A joint venture company Khanij Bidesh India limited(KABIL) has been set up with the participation of three Central Public Sector Enterprises (CPSEs). These CPSEs are National Aluminium Company Ltd.(NALCO), Hindustan Copper Ltd.(HCL) and Mineral Exploration Company Ltd. (MECL). The objective of the company is to ensure a consistent supply of critical and strategic minerals to… Continue reading KABIL set up to ensure supply of critical Minerals to Indian domestic market
Govt set to frame rules for ride-hailing firms
The Motor Vehicles (Amendment) Bill, 2019 has created a new category of cab aggregators by addressing some of these issues. The bill recognizes and defines aggregators as digital intermediaries or marketplaces which can be used by passengers to connect with a driver for transportation. The central government will soon meet all stakeholders in the industry… Continue reading Govt set to frame rules for ride-hailing firms
Rs 25,000 crore tenders cancelled or modified to promote Make in India products
Department for Promotion of Industry and Internal Trade(DPIIT) has cancelled or modified government tenders worth over Rs 25,000 crore. This decision was taken to change the conditions of the tenders in order to promote ‘Make in India’ goods. Further,the tenders were cancelled as they had certain restrictive conditions which were discriminatory against domestic manufacturers and… Continue reading Rs 25,000 crore tenders cancelled or modified to promote Make in India products
SANKALP Scheme
Union Minister of Skill Development & Entrepreneurship has reviewed the Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP). SANKALP is an outcome-oriented programme of Ministry of Skills Development & Entrepreneurship(MSDE) with a special focus on decentralised planning and quality improvement. The project is a Centrally Sponsored Scheme and is implemented in mission mode through… Continue reading SANKALP Scheme
RCEP negotiations: India lists out demands before China for market access
India has listed out the demands and raised specific bilateral trade issues with proposed Regional Comprehensive Economic Partnership (RCEP) member countries. India has said that it will agree to the proposed RCEP pact only if partner countries like China resolve its trade deficit with India by providing more market access. India has said that it… Continue reading RCEP negotiations: India lists out demands before China for market access
Parliament passes Airports Economic Regulatory Authority of India, (Amendment) Bill – 2019
The Parliament has passed the Airports Economic Regulatory Authority of India, (Amendment) Bill, 2019. The bill amends the Airports Economic Regulatory Authority of India Act, 2008. The Act established the Airports Economic Regulatory Authority of India (AERA). The AERA regulates tariffs and other charges for aeronautical services provided at civilian airports with annual traffic above… Continue reading Parliament passes Airports Economic Regulatory Authority of India, (Amendment) Bill – 2019
Elected directors in PSBs will be appointed by board: RBI
The Reserve Bank of India has come out with the ‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs Directions,2019. The directions mandates that banks are required to constitute a Nomination and Remuneration Committee(NRC) consisting of a minimum of three non-executive directors from amongst the board of directors. An elected director shall… Continue reading Elected directors in PSBs will be appointed by board: RBI
