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Steps Taken To Curb Black Money in India
Current Affairs: Union government has taken following steps to curb black money in the country:
Constitution of Special Investigation Team(SIT)
Constitution of a Special Investigation Team...
WTO Receives 6 Ratifications for TFA
Current Affairs: U Win Myint, Myanmar’s Union Minister of the Ministry of Commerce, presented his country’s instrument of acceptance to Director-General Roberto Azevêdo in...
Auto-Cancellation of Reversal Trades in BSE
BSE is planning to soon introduce a mechanism that will automatically cancel reversal trades executed on its platform.
'Auto-Cancellation of Reversal Trades' would focus on...
India Becomes Largest Remittances Receiving Country
According to World Bank, India became the largest remittances receiving country at $72 billion this year followed by China at $64 billion.
The US emerged...
Inflation Expectations Survey of Households
The Reserve Bank of India (RBI) has launched quarterly 'Inflation Expectations Survey of Households' for December 2015.
The RBI has been regularly conducting the survey....
Foreign Investors To Get Share in Jubilant Life
Current Affairs: The Reserve Bank of India has allowed foreign investors to pick up to 45 per cent in Jubilant Life Sciences under the...
New Norms for Infrastructure Trusts
The Securities and Exchange Board of India (Sebi) issued new regulations that will govern real estate investment trusts, or REITs, and so-called infrastructure investment...
Measures Taken to Check Price Rise
The Government has taken a number of steps to check price rise and to improve the availability of essential food items. These include:
General Measures:
National...
New Income Tax Authority Setup
The CBDT notified the new Income Tax department authority which will now be empowered to receive due taxes and penalty from those who had...
Govt Releases 175 Crore For Mandi e-Platforms
Union government has released Rs. 175 crores to set up e-platforms to ensure easy flow of agricultural produce from one mandi to another.
The Centre...
New Rules For Banks on Lending Rates
The Reserve Bank of India (RBI) set new rules on how banks can calculate their lending rates, making them more closely based on market...
Facebook Ties With Uber for Ride Service
Facebook Inc said that it is testing a service that will allow users of its Messenger app to hail Uber rides directly from the...
Air India To Sell Land in Coimbatore
The government approved an Air India proposal to sell its plot of land at Coimbatore in Tamil Nadu to National Building Construction Corporation (NBCC)...
PAN Now Mandatory For Opening Bank Accounts
PAN or Permanent Account Number is made mandatory for opening all bank accounts from 1 January, 2016.
To reduce bank accounts with forged details, the...
Monetary Limit Increased for Tax Cases
In order to reduce tax litigation by about 50 per cent, the Ministry of Finance raised the monetary limit for filing appeals to Rs...
Suzlon Energy Allot Shares to Bondholders
Wind turbine maker Suzlon Energy Ltd will allot over 3.58 lakh shares to bondholders upon conversion of some bonds due in July 2019.
Suzlon Energy...
Four New Indices Launched in India
Asia Index Pvt Ltd, a joint venture between S&P Dow Jones and BSE Ltd, launched four new indices.
The four S&P BSE indices will be...
Food Inflation Increased in November
Wholesale food price inflation in November doubled to 5.20 per cent as compared to October on account of sharp rise in prices of pulses,...
FDI Flow To Services Increased By 20%
Current Affairs: FDI (foreign direct investment) inflows into the services sector grew by about 20 per cent to $1.46 billion (Rs 9,404 crore) in...
CSR Platform ‘Sammaan’ Launched
The CSR platform, launched by BSE along with industry body CII and think tank IICA, went live on the stock exchange.
Sammaan, a platform to...
Indian Oil Invest 1.75 Lakh Crore in Expansion
Current Affairs: Indian Oil Corporation will invest Rs 1.75 lakh crore over the next seven years on expanding refinery capacity, building petrochemical plants and...
EPFO 11th Largest Pension Fund in World
The retirement savings managed and overseen by the Employees’ Provident Fund Organisation (EPFO) are set to cross the Rs.10 lakh- crore mark this month....
Indian Overseas Bank to Raise 1570 Crore
Indian Overseas Bank (IOB) proposes to raise up to Rs 1,570 crore at the current market price from the public offer to fund its...
FDI Proposals Worth Rs 5,240 Crore Cleared
The Foreign Investment Promotion Board (FIPB) has approved seven foreign direct investment (FDI) proposals worth Rs 5,240 crore.
The clearances were given based on recommendations...
PVR Cinemas to Acquire DT Cinemas
On 08.07.2015, the Competition Commission of India received a notice from PVR Limited relating to acquisition by PVR Limited (PVR) of DT Cinemas, which...
India Will Soon Get Physical Gold Exchange
India will soon get its first physical gold exchange. In this regard, a bullion association in India has tied up with BSE to launch...
Minimum Export Price Of Onions Reduced
Current Affairs: The government slashed the minimum export price (MEP) of onions to USD 400 per tonne from USD 700 a tonne.
MEP is the...
Measures To Contain Prices of Essential Food Items
General Measures:
Ø National Consultation Meeting held with States/UTs in-charge of Consumer Affairs and Food held on 7th July, 2015, at New Delhi resolved to...
Measures Taken For Sugarcane Farmers
The cane dues of Rs. 17301 crores were outstanding against the sugar mills as on 15.07.2015. Since then, Rs. 10,620 crores have been paid...
First Bullet Train Gets Green Signal
India's first bullet train gets the green signal from government. The Cabinet has cleared a $14.7 billion Japanese proposal to build India's first bullet...
ADB $1 Billion Loan to Power Grid Corporation
Economy Current Affairs: Asian Development Bank (ADB) will provide $1-billion loan to the Power Grid Corporation of India for renewable energy transmission and grid...
IDFC Bank Included in Second Schedule List
RBI Current Affairs Dec 11, 2015: Newly constituted IDFC Bank Ltd has been included in the Second Schedule of the Reserve Bank of India...
RBI Guidelines for Cross-Currency Futures
The Reserve Bank of India issued guidelines for introduction of cross-currency futures and exchange traded cross-currency option contracts in multiple currency pairs.
The cross currency...
Banks to Bring Down SLR to 20.50%
The Reserve Bank allowed banks to bring down the statutory liquidity ratio (SLR) securities under held-to-maturity (HTM) category by 1.25 per cent to 20.50...
Sebi Norms on Outsourcing by Depositories
Securities and Exchange Board of India (Sebi) issued a new set of guidelines governing outsourcing by depositories to safeguard capital markets from outside risks.
SEBI...
Aurobindo Drug Gets US FDA Approval
Aurobindo Pharma has received approval of the US Food and Drug Administration (FDA) to market injection Eptifibatide, used in the treatment of acute coronary...
Uber Shuts Its Uber Auto Service
Taxi aggregator Uber has temporarily shut down its Uber Auto service, which was started in April in New Delhi this year.
Launched as a cash-only...
Fairfax Acquires Stake in IIFL
Canadian firm Fairfax India Holdings (FIH) has acquired an additional 21.85 per cent stake in financial firm IIFL Holdings for Rs 1,341.37 crore through...
Oil and Natural Gas Production In India
Crude Oil Production
Indigenous crude oil production (including condensate) during October, 2015 was 3151.178 TMT which is 2.53% higher than the target for the month...
Latest Cabinet Decisions
In latest cabinet decisions, Government approved 10 per cent stake sale in state-owned Coal India Ltd. Cabinet committee on economic affairs chaired by Prime...
Disinvestment in Coal India Limited
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the disinvestment of 10 percent paid up equity...
Govt Eases FDI Rules
Government liberalized foreign direct investment (FDI) norms in 15 major sectors of the economy to further boost the investment environment and to bring in...
$273 Million ADB Loan for Roads
Centre signed 273 Million dollar loan agreement with Asian Development Bank in New Delhi for improving rural roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha...
National Highways Construction Cost Index Released
National Highways Authority of India (NHAI) has released National Highways Construction Cost Index (NHCCI) up to September 2015.
This has been compiled based on information...
Financial Stability and Development Council Meet
The Thirteenth Meeting of the Financial Stability and Development Council (FSDC) was held today under the Chairmanship of the Union Minister of Finance, Arun...
China Ratifies Asian Infrastructure Investment Bank Agreement
Chinese Parliament has ratified the Asian Infrastructure Investment Bank (AIIB) agreement today. It establishes the legal framework for the Bank.
The ratification is a significant...
Steps Taken to Increase Exports
In light of the major challenges being faced by Indian exporters in the backdrop of the global economic slowdown, Department of Commerce announced increased...
Foreign Investment in India
Foreign investors pumped in over 22,350 crore rupees in the Indian capital markets in October, the highest in seven months, buoyed by RBI’s rate...
Moody Upgrades Banking Sector Outlook
Moody's today upgraded its outlook for India's banking system to 'stable' from 'negative'. Moody's rates 15 banks in India that together account for around...
India’s Manufacturing Output Slips
According to Nikkei survey, India's manufacturing sector growth slipped further and touched a 22-month low in October.
The Nikkei India Manufacturing PMI - a composite...
India World’s 7th Most Valued Brand
According to Report by 'Brand Finance', India is world's seventh most valued 'nation brand'. There is surge of 32 per cent in India's 'nation...
Government Issues Sovereign Gold Bonds
Government of India, in consultation with Reserve Bank of India (RBI), has decided to issue Sovereign Gold Bonds. The Bonds will be issued on...
Fiscal Deficit: Latest Update
The Centre’s fiscal deficit remained well within control at ₹ 3,78,563 crore or 68.1 per cent of the Budget Estimate in the first half...
Rupee Denominated Bonds Outside India
The RBI has granted permission to the Indian corporate to issue rupee denominated bonds outside India in a bid to encourage foreign investors.
A press...
Foreign Trade Policy Highlights
Key features of the latest Foreign Trade Policy 2015:
India to be made a significant participant in world trade by 2020
Merchandize exports from India (MEIS)...
Measures to Enhance Exports Announced
In light of the major challenges being faced by Indian exporters in the backdrop of the global economic slowdown, Department of Commerce announced increased...
India Ranks 130 in Ease of Doing Business
India is now ranked by the World Bank at 130 of 189 countries on "Ease of Doing Business." That is up 12 places from...
Committee Setup to Simplify Income Tax
The Government of India has constituted a Committee with a view to simplify the provisions of the Income Tax Act, 1961, with the following...
“E-Sahyog” Pilot Project Launched
The Finance Minister Arun Jaitley launched an “e-Sahyog” pilot project which furthers the Income Tax Department’s commitment to work in an e-environment and reduces...
India’s Foreign Exchange Reserves Rise
India’s foreign exchange reserves have recorded a rise of 458 million US Dollars to 353.527 billion dollars in the week ended 16th October.
According to...
RBI Directive on Gold Monetisation Scheme
The Reserve Bank of India (RBI) issued a Direction to all Scheduled Commercial Banks (excluding Regional Rural Banks) on implementation of the Gold Monetisation...
Anti Dumping Duty Imposed on Products
Pursuant to the recommendations of the Directorate General of Anti-dumping and Allied Duties, the Government has imposed anti-dumping duty on following goods, effective from 21st...
China Launches Yuan Bond in UK
The Bank of China launched a yuan-denominated bond in London for the first time as it seeks to internationalise its currency.
The debt sale worth...
IRCTC Launches E-Catering
The Indian Railways Catering and Tourism Corporation (IRCTC) has launched a pilot project of a ‘station-based e-catering’ service allowing passengers to order meals as...
IDFC Bank Inaugurated in India
The Prime Minister, Narendra Modi, today launched the IDFC Bank in New Delhi. The Prime Minister complimented IDFC for its successful journey of 18 years...
Latest Changes in Indirect Tax Rates
Government of India has made the following changes in indirect tax rates, effective from 19th October, 2015:
In view of the continued fall in international prices...
Latest Data on Oil & Natural Gas Production
CRUDE OIL
Indigenous crude oil production (including condensate) during September, 2015 was 3042.369 TMT which is 0.89% lower than the target for the month and 0.06%...
Measures to Contain Pulses Prices
Increase in prices of pulses may register highest growth this year due to untimely rains which have severely affected 2.28 million tonnes (MT) of...
Kelkar Panel on Revitalizing PPP Model
Vijay Kelkar-headed panel on revitalisation of public-private-partnership (PPP) model of infrastructure development will submit its report to Finance Minister Arun Jaitley by the end...
Pulses Inflation in India
After onions, prices of pulses — a source of protein for every Indian — are now at a five-year high in some parts of...
New Financial Inclusion Fund Created
RBI announced merger of two funds to create a new Financial Inclusion Fund with a corpus of Rs 2,000 crore to support 'developmental and...
MoU in Small & Medium Enterprises Signed
The Union Cabinet chaired by the Prime Minister Narendra Modi, has approved the MoU between the India-Taipei Association (ITA) in Taipei and Taipei Economic...
Pradhan Mantri Jan Dhan Yojana Deposits
Deposits in accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) have now exceeded Rs. 25,000 crore which has come to the banks...
Index of Industrial Production August 2015
Ministry of Finance states that the data on the Index of Industrial Production (IIP) for August 2015 and Consumer Price Index (CPI)-New Series in...
14th General Review of Quotas of IMF
Recently the Union Finance Minister Arun Jaitley expressed concern at the unprecedented delay in implementation of the 14th General Review of Quotas. In his...
Gold Monetization Schemes Launched
The Union Cabinet chaired by PM Modi, gave its approval for introduction of Gold Monetization Schemes (GMS), as announced in the Union Budget 2015-16....
Bank Credit Update by RBI
Data on sectoral deployment of bank credit collected on a monthly basis from select 46 scheduled commercial banks, accounting for about 95% of the...
Financial Assistance from DEA Fund
The Reserve Bank of India released the names of 20 entities that have been approved by the DEA Fund Committee for registration for seeking...
RBI Releases Bi-monthly Monetary Policy
RBI on Sept 29 released Fourth Bi-monthly Monetary Policy Statement. RBI's noted the following main ponits in its policy:
Since the third bi-monthly statement of...
Electronics Development Fund Becomes Operational
Government of India has decided to appoint M/s CANBANK Venture Capital Fund Ltd. (CVCFL) as the implementation agency which will house the Electronics Development...
SEBI Notifies ‘Fast-Track’ Route For Share Sales
To boost fund raising from markets, the Securities and Exchange Board of India (SEBI), notified new norms, which will provide all listed companies a...
