The Central government has planned to set up a common online platform for the Real Estate Regulatory Authority (RERA) of all states and UTs. The move aims to provide an opportunity to home-buyers, builders and authorities to exchange views. Real Estate (Regulation and Development) Act (RERA) 2016 is a central legislation which aims to regulate… Continue reading Centre plans to set up common online platform for RERA of all states, UTs
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.
Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The committee has recommended a ₹5,000 crore distressed asset fund for micro,small and medium enterprises (MSMEs). The fund will assist units in a cluster where there is a change in the… Continue reading Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
Gross NPAs of banks may shrink to 8 per cent by March 2020: Crisil
According to the Crisil report,public sector banks which account for over 80% of the non-performing assets(NPAs) could see the gross NPAs decreased to 10.6% by March 2020 from a peak of 14.6% in March 2018. The reason attributed to this downfall in the NPAs were highlighted as higher recoveries and slowdown. The Gross NPAs within… Continue reading Gross NPAs of banks may shrink to 8 per cent by March 2020: Crisil
RBI union moots collegium to select governors, deputy governors
The RBI union has proposed a Collegium of experts to appoint governors and deputy governors to ensure central bank autonomy and independence. The collegium should comprise former RBI governors,other prominent central bankers and economists. The recent resignation of the RBI deputy governor at least six months before his term expired is the trigger for mooting… Continue reading RBI union moots collegium to select governors, deputy governors
Bank NPA
Union Minister of Finance informed Lok Sabha about the present state of Bank Non Performing assets(NPA) in India. The minister said that as per RBI provisional data on global operations, the aggregate amount of gross NPAs of Public sector banks(PSBs) and Scheduled Commercial Banks(SCBs) till 31st March,2019 were Rs.8 lakh crore and Rs. 9.5 lakh… Continue reading Bank NPA
Cash in circulation fell post note ban: FM
Finance minister has said that demonetisation along with increased digital transactions and the reduced cash usage in the informal economy has led to a reduction in currency in circulation by ₹3.4 lakh crore. The Government has also said that fake note circulation has also dropped.It quoted RBI reports which said that the number of counterfeit… Continue reading Cash in circulation fell post note ban: FM
Rivigo launches national freight index
The logistics start-up Rivigo has launched National Freight Index(NFI) that will provide live freight rates for different lanes and vehicles across the country. Freight transport is the physical process of transporting commodities and merchandise goods and cargo. The NFI will offers an aggregated picture of both live rates and historical trends of spot price movements… Continue reading Rivigo launches national freight index
RBI’s customer-complaint processing goes digital
The Reserve Bank of India(RBI) has launched a Complaint Management System (CMS).It is a software application to facilitate RBI’s grievance redressal processes. Customers can lodge complaints against any entity regulated by RBI with public interface such as commercial banks, urban cooperative banks,Non-Banking Financial Companies(NBFCs). This system will make sure that every complaint is received and… Continue reading RBI’s customer-complaint processing goes digital
House panel shies away from quantifying black money
The parliamentary panel on finance of the 16th Lok Sabha has submitted its report to the Lok Sabha, The panel has said it is difficult to provide a credible estimate of the black money stashed away overseas by Indians.The panel suggested that black money could be anywhere ranging from 7-120% of the GDP. This massive… Continue reading House panel shies away from quantifying black money
Effective tax base growth highest in five years
Finance ministry has said that the effective taxpayer base has increased by 13.5% for the assessment year (AY) 2018-19.This is the highest rate in the last five years. The tax base which includes assessees filing I-T returns along with those whose tax is deducted at source rose to 8.44 crore in 2018-19 compared with 7.42… Continue reading Effective tax base growth highest in five years
