The boards of Lakshmi Vilas Bank(LVB) and Indiabulls Housing Finance has approved the merger between the two to create what would be known as the ‘Indiabulls Lakshmi Vilas Bank’. The merger is subject to the approval of the Reserve Bank of India (RBI),as well as the grant of other regulatory approvals.The merged entity will have… Continue reading Lakshmi Vilas finds a new home in Indiabulls
Category: Daily Factly articles
Stressed assets circular to be revised soon
The RBI governor has said that Reserve Bank of India (RBI) will issue a revised circular for resolution of stressed assets following the Supreme Court verdict striking down its February 12,2018 circular as ultra vires which means that the RBI had gone beyond its powers in issuing the circular. The Supreme Court had said that… Continue reading Stressed assets circular to be revised soon
Linking small loans to external benchmark after further talks
The Reserve Bank has said that it will hold further discussions with banks on linking interest rates on personal,home,auto and MSME loans with the external benchmark rates. In December 2018,Reserve Bank of India (RBI) had proposed a major change in the way banks price their loans.It had said that banks will have to link the… Continue reading Linking small loans to external benchmark after further talks
Brunei’s LGBT community lives in fear
Brunei has introduced a new sharia law that makes adultery and homsexuality punishable by stoning to death.It makes Brunei the first country in Southeast Asia to have a sharia penal code at the national level.The new law mostly applies to Muslims though some aspects will also apply to non-Muslims. The features of Brunei sharia laws… Continue reading Brunei’s LGBT community lives in fear
UAE confers prestigious Zayed Medal on Narendra Modi
The United Arab Emirates (UAE) has awarded Indian Prime Minister Narendra Modi with the Zayed Medal, the highest civilian award granted by its government. PM Modi has received the award in appreciation of his efforts in maintaining strategic ties with UAE. UAE-India relations got momentum after Prime Minister Modi paid a visit to the nation… Continue reading UAE confers prestigious Zayed Medal on Narendra Modi
RBI cuts repo rate to 6%, lowers GDP forecast to 7.2%
The six-member Monetary Policy Committee of the Reserve Bank of India has cut its benchmark policy rate,repo rate by 0.25% to 6%.Repo stands for ‘Repurchasing Option’.It refers to the rate at which commercial banks borrow money from the RBI.The rate cut comes in the backdrop of a slowdown in consumption. demand,weakening investment activity and overall… Continue reading RBI cuts repo rate to 6%, lowers GDP forecast to 7.2%
EC inquiry against Meghalaya Minister
The Election Commission has initiated an inquiry into alleged violation of model code of conduct by a Meghalaya Minister. He had used an official vehicle for election campaigning. According to the Model Code of Conduct, no government transport including official air-crafts, vehicles etc. should be used for electioneering work. Model code of Conduct (MCC) are… Continue reading EC inquiry against Meghalaya Minister
SC agrees to hear plea challenging release of Modi biopic
The Supreme Court has agreed to hear a plea seeking a stay on the release of the biopic “PM Narendra Modi”. The opposition parties have alleged that the release of the film ahead of elections would violate the Model Code of Conduct. The film has generated widespread debate with opposition political parties alleging that it… Continue reading SC agrees to hear plea challenging release of Modi biopic
Health Ministry forms a Solidarity Human Chain; reaffirms commitment towards Universal Health Care
Recently, Ministry of Health and Family Welfare, GoI along with the World Health Organization (WHO) had formed a Solidarity Human Chain as part of the World Health Day celebrations. The theme of World Health Day 2019 is Universal Health Coverage: Everyone, Everywhere. Universal health coverage (UHC) is defined as ensuring that all people have access… Continue reading Health Ministry forms a Solidarity Human Chain; reaffirms commitment towards Universal Health Care
18 Advance Pricing Agreements signed in March: CBDT
The Central Board of Direct Taxes (CBDT) has entered into 18 Advance Pricing Agreement(APAs) in the month of March 2019 which includes 3 Bilateral APAs(BAPAs).With this,the total number of APAs entered into by the CBDT as of now stands at 271,which also includes 31 BAPAs. APA allows the taxpayer and the tax authority to avoid… Continue reading 18 Advance Pricing Agreements signed in March: CBDT
