The Union Cabinet has approved the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The Multilateral Convention is an outcome of the OECD and G20 Project to tackle Base Erosion and Profit Shifting(BEPS Project). The BEPS Project objective is to tackle base erosion and… Continue reading Multilateral instrument to curb tax treaty abuse
Category: Daily Factly articles
SEBI directs rating agencies to disclose probability of default
The Securities and Exchange Board of India (Sebi) has prescribed guidelines to strengthen the disclosures made by credit rating agencies to enhance the rating standards. SEBI has asked credit rating agencies(CRAs) to start disclosing a probability of default(PD) benchmark for the companies rated by them. Probability of default(PD) is a financial term describing the likelihood… Continue reading SEBI directs rating agencies to disclose probability of default
Narendra Modi, Xi Jinping agree to speed up boundary talks
Indian Prime Minister has met with Chinese President on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit. The two leaders have agreed to expedite the dialogue on the India-China boundary issue for securing a fair solution. The two leaders also discussed the status of the bilateral relationship since the Wuhan summit which came in… Continue reading Narendra Modi, Xi Jinping agree to speed up boundary talks
U.S. open to dialogue on GSP, says Pompeo
The US secretary of state has said that the US could discuss its decision to withdraw duty-free benefits to Indian exporters under the generalized system of preferences (GSP) scheme. GSP is a preferential tariff system extended by developed countries to developing countries.It is a preferential arrangement in the sense that it allows concessional low/zero tariff… Continue reading U.S. open to dialogue on GSP, says Pompeo
Two tankers attacked in Gulf of Oman
Recently,two tankers were attacked in the Gulf of Oman.The ship were carrying oil and other transporting a cargo of chemicals near the strategically important Strait of Hormuz. The US has blamed Iran for the attacks on the tankers.However,Iran has dismissed the claims and said that Iran has no connection with the explosions. Earlier,Iranian officials had… Continue reading Two tankers attacked in Gulf of Oman
Pre-Budget consultations: Financial sector seeks dedicated liquidity window for NBFCs
Finance Minister has held pre-budget discussions with the representatives from India’s financial sector. The representatives sought for a dedicated liquidity window for non-bank finance companies(NBFC) that can be used as a source of emergency funding. The bankers has asked the government to infuse capital in regional rural banks,rationalise the securities transaction tax and make corporate… Continue reading Pre-Budget consultations: Financial sector seeks dedicated liquidity window for NBFCs
Chandrayaan-2 Explained: What Moon can hold for India
The Indian Space Research Organization (ISRO) has announced that Chandrayaan-2, India’s second Moon mission, will be launched on July 15, 2019. Its lander and rover would touch down on the moon’s surface on September 6. Chandrayaan-2 is India’s second mission to the moon. It is a totally indigenous mission. Chandrayaan-2 will comprise of an Orbiter,… Continue reading Chandrayaan-2 Explained: What Moon can hold for India
India set to join heavyweight torpedo club
The Indian Navy has decided to induct the indigenously developed heavyweight torpedo “Varunastra” into its arsenal. This will put India in a group of only eight countries that have the capability to manufacture heavyweight torpedoes Torpedo is self-propelled underwater missile, launched from a submarine, surface vessel, or airplane and designed for exploding upon contact with… Continue reading India set to join heavyweight torpedo club
In Arunachal, the golden cat wears new colours
Scientists have discovered six different ‘colour morphs’ (cinnamon, golden, grey, melanistic, ocelot and tightly rosette) of the Asiatic golden cat in Arunachal Pradesh. This may be the world’s greatest number of different-colored wild cat species ever reported in one area. The study was carried out by scientists from Zoological Society of London, and University College… Continue reading In Arunachal, the golden cat wears new colours
Centre reduces contribution rate for ESI
The government of India has announced reduction in the rate of contribution under the Employees’ State Insurance (Act) from 6.5% to 4%. The employers’ contribution has been reduced from 4.75% to 3.25% and employees’ contribution has been reduced from 1.75% to 0.75%. The move is aimed at formalising India’s informal workforce and expanding social security… Continue reading Centre reduces contribution rate for ESI
