Economy & Banking Current Affairs

GoI increases Minimum Support Price of Rabi Crops

On September 21, 2020, the Government of India increased the Minimum Support Price of rabi crops. The MSP of wheat has been increased by Rs 50 per quintal. The other crops are Chana, Mustard, Safflower and Masoor. Highlights The key decision to increase MSP was taken at the meeting of Cabinet Committee on Economic Affairs. ..

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Public Procurement Order, 2017 amended

The Government of India has recently amended the public procurement order 2017. The amendment has been made to curtail Chinese investment. According to the amendment the entities of countries that do not allow Indian companies to participate in their government procurement procedures shall not be allowed to participate in Indian government procurement procedures.  Highlights The ..

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India’s first private Jet Terminal at New Delhi: Key Facts

On September 17, 2020, India opened its first exclusive private jet terminal at New Delhi Indira Gandhi International Airport. The Terminal was inaugurated by the Union Civil Aviation Minister Hardeep Singh Puri. The airport will allow movement of 150 jets on daily basis. The new terminal has capacity to handle over 50 passengers in an ..

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ONGC exits from Sudan

India’s Oil and Natural Gas Corp (ONGC) recently exited from Sudan oilfields. This step was taken by ONGC after the African nation refused to pay for oil it lifted from the fields. Key Facts ONGC Videsh Ltd (OVL) has also with withdrawn from the block. OVL had a 25 per cent stake in Block 2A&4 ..

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RBI Issues Draft on Rupee Interest Rate (IR) Derivatives Directions 2020

The Reserve Bank have proposed to allow foreign portfolio investors (FPIs) to undertake the rupee interest rate derivatives which is subject to a ceiling of ₹5,000 crore. These directions aim to encourage high non-resident participation, to enhance the role of domestic market makers in the other market, to improve transparency and to achieve better regulatory ..

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