RBI’s Economic Measures to Tackle 2nd Wave of Covid-19

What is the News? The Reserve Bank of India(RBI) has announced measures to help India to tackle the unprecedented Covid-19 crisis during the second wave. Measures announced by the RBI: On-Tap Liquidity Facility: RBI has opened a Rs 50,000-crore on-tap liquidity window with a tenor of up to three years. Banks can borrow from this… Continue reading RBI’s Economic Measures to Tackle 2nd Wave of Covid-19

SEBI technical group submits report on “Social Stock Exchanges(SSE)”

What is the News? A technical group on Social Stock Exchanges (SSEs), constituted by the Securities and Exchange Board of India (SEBI) has submitted its report.  About Social Stock Exchange(SSE): Social Stock Exchange(SSE) is a platform that allows investors to invest in select social enterprises or social initiatives. Social Enterprise is a revenue-generating business. The… Continue reading SEBI technical group submits report on “Social Stock Exchanges(SSE)”

India’s Oil Imports From OPEC Down To 20-Year Low

What is the News? The share of India’s oil imports from OPEC countries dropped to its lowest in at least 20 years in the fiscal year ending March 2021. India’s Oil Imports: India’s overall oil imports fell by nearly 12% in the Fiscal Year 2021 compared to the previous fiscal year. Of all those imports,… Continue reading India’s Oil Imports From OPEC Down To 20-Year Low

New SEBI circular for “fund manager compensation”

What is the News? Securities and Exchange Board of India(SEBI) has issued a new circular on regulating fund manager and key personnel compensation. About the Circular: The circular says that a minimum of 20% of the salary of mutual fund managers and other key personnel in an asset management company (AMC) should be in the… Continue reading New SEBI circular for “fund manager compensation”

RBI Joins “Network for Greening the Financial System”

What is the News? Reserve Bank of India(RBI) has joined the Network for Greening the Financial System (NGFS) as a Member. About Network for Greening the Financial System(NGFS): Firstly, NGFS was launched at the Paris One Planet Summit in December 2017. Secondly, it is a group of Central banks and financial supervisors. The NGFS aims… Continue reading RBI Joins “Network for Greening the Financial System”

“RoDTEP Scheme” -Delay in Notification of Rebate Rates

What is the News? Exporters are upset over the inordinate delay in the notification of the rates under the RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme. About Remission of Duties and Taxes on Exported Products(RoDTEP) Scheme: Ministry of Commerce and Industry announced the RoDTEP scheme in the year 2020. It came into effect… Continue reading “RoDTEP Scheme” -Delay in Notification of Rebate Rates

“Asset Reconstruction Companies” – Sudarshan Sen Committee Set-up

What is the News? The Reserve Bank of India(RBI) has set up the Sudarshan Sen committee to review the working of Asset Reconstruction Companies (ARCs) Comprehensively. It will recommend suitable measures for enabling them to meet the growing requirements. Headed by: The committee will be headed by Sudarshan Sen, the former executive director, Reserve Bank… Continue reading “Asset Reconstruction Companies” – Sudarshan Sen Committee Set-up

“National Startup Advisory Council” – First Meeting Held

What is the News? The Minister of Commerce & Industry chaired the first meeting of the National Startup Advisory Council(NSAC). About the National Startup Advisory Council(NSAC): National Startup Advisory Council(NSAC) was constituted by the Department for Promotion of Industry and Internal Trade(DPIIT). Purpose: To advise the Government on measures required to build a strong ecosystem for… Continue reading “National Startup Advisory Council” – First Meeting Held

India on US’s “Currency Watch list”

What is the News?  The US treasury places India along with 10 other countries on its currency watch list. What is Currency Manipulator: Current Manipulators are countries engaging in “unfair currency practices” by deliberately devaluing their currency against the dollar. The practice would mean that the country in question is artificially lowering the value of… Continue reading India on US’s “Currency Watch list”

RBI sets up “Regulations Review Authority 2.0”

What is the News? Recently, the Reserve Bank of India(RBI) announced the setting up of a new Regulations Review Authority(RRA 2.0). About Regulations Review Authority(RRA): The RBI earlier set up the first RRA for a period of one year from April 1, 1999. This is for reviewing the regulations, circulars, reporting systems, based on the… Continue reading RBI sets up “Regulations Review Authority 2.0”