Page-46 of Economy & Banking Current Affairs

Automated Return Scrutiny Module for GST returns

May 15, 2023

The Central Board of Indirect Taxes and Customs (CBIC) has recently introduced an Automated Return Scrutiny Module to enhance tax compliance and simplify the scrutiny process of Goods and Services Tax (GST) returns. Automated Scrutiny of GST Returns The primary ..

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Palli Karma Sahayak Foundation (PKSF)

May 13, 2023

Microfinance lenders play a crucial role in providing financial services to underserved populations, but they often face challenges in accessing a steady flow of funds, particularly during difficult times. To address this issue and ensure the long-term sustainability of the ..

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‘100 Days 100 Pays’ Campaign

May 13, 2023

The Reserve Bank of India (RBI) recently announced the launch of the ‘100 Days 100 Pays’ campaign on June 1. This campaign aims to trace and settle the top 100 unclaimed deposits in every bank across all districts within a ..

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RBI Deadline for Transitioning to Alternative Reference Rate

May 13, 2023

The Reserve Bank of India (RBI) has recently issued a directive to banks and financial institutions, urging them to adopt an Alternative Reference Rate by July 1. This transition comes as part of a global effort to move away from ..

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Greenwashing TechSprint

May 12, 2023

The Reserve Bank of India (RBI) has recently opened a window to permit all India-based firms and innovators to take part in Global Financial Innovation Network’s first-ever Greenwashing TechSprint. The Role of GFIN GFIN, a renowned international organization, is hosting ..

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Zimbabwe’s Gold-Backed Digital Currency

May 12, 2023

Recently, Zimbabwe launched a gold-backed digital currency, marking another attempt to stabilize and strengthen its currency. This innovative move aims to address the ongoing challenges faced by the country’s financial system. The Concept of a Gold-Backed Digital Currency A gold-backed ..

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Creditor-led Insolvency Resolution Mechanism

May 9, 2023

The Creditor-led Insolvency Resolution Mechanism is a newly proposed mechanism that aims to reduce delays in the resolution process, which have escalated under the current system, causing legal challenges and a shortage of NCLT benches. As per the Insolvency and ..

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SEBI’s Testing Framework for IT Systems of Market Infrastructure Institutions (MIIs)

May 6, 2023

SEBI, India’s regulatory body, has introduced a new framework for testing the IT systems used by market infrastructure institutions (MIIs), including stock exchanges, clearing corporations, and depositories. The objective of the framework is to assist MIIs in performing thorough risk ..

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ESMA’s Derecognition of 6 Indian CCPs

May 4, 2023

European Securities and Markets Authority (ESMA), the European Union’s financial markets regulator and supervisor, has derecognized six Indian central counterparties (CCPs) from April 30, 2023, due to no cooperation arrangements between ESMA and Indian regulators. Derecognition of Indian CCPs EMIR ..

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SEBI introduces the Legal Entity Identifier (LEI) System

May 4, 2023

The Securities and Exchange Board of India (SEBI) has introduced the Legal Entity Identifier (LEI) system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts. The LEI is a unique global ..

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