RBI reduces exposure limits for UCBs

According to the Reserve Bank of India (RBI) notification, the single borrower and group exposure limit for Urban cooperative banks (UCBs) to 15% and 25% of tier I capital, respectively. This reduction in limit is to mitigate concentration risks arising ..

Union Cabinet approves RoDTEP

The Union Cabinet approved the Remission of Duties or Taxes on Export Products (RoDTEP). It is a scheme for exporters to reimburse taxes and duties paid, like value added tax, coal cess and electricity duties which are not exempted or ..

Corona Virus: GoI brings hand sanitizers and masks under Essential Commodities Act

The Government of India recently brought hand sanitizers and masks under Essential Commodities Act. Till 30th June, 2020, these products are to remain under Essential Commodities Act. The GoI has brought these commodities under the act by amending Schedule of ..

Month: Current Affairs - March, 2020

GST Council Meet: GST of Mobile Phones increased from 12% to 18%

On March 14, 2020, the GST Council met for the 39th time in New Delhi. The Council was headed by the Finance Minister Nirmala Sitaraman. Highlights The Council has increased the GST of mobile phones from 12% to 18%. It ..

Month: Current Affairs - March, 2020

Parliament passed Direct Tax Vivad Se Viswas Bill, 2020

On March 14, 2020, Parliament passed the Direct Tax Vivad Se Viswas Bill, 2020. The bill aims to reduce the number of litigation that are associated with direct tax payments. The Direct Tax Vivad Se Viswas concept was introduced by ..

Month: Current Affairs - March, 2020

Exposure Limits for Urban Cooperative Banks revised by RBI

On March 13, 2020, the Reserve Bank of India revised exposure limits of Urban Cooperative Banks. Earlier the RBI permitted 15% of its capital funds to single borrowers and 40% of its funds to group of borrowers. It has now ..

Month: Current Affairs - March, 2020

“BHOOMI RASHI PORTAL” provides transparent and error free Land Acquisition

On March 13, 2020, the Ministry of Road Transport and Highways claimed that “Bhoomi Rashi Portal” provides transparent and error free land acquisition. What is Bhoomi Rashi Portal? In 2018, the Ministry of Road Transport and Highways had designed a ..

Month: Current Affairs - March, 2020

Government provides smartphones for Anganwadi Workers under POSHAN Abhiyaan

ICDS-Common Application Software (CAS) is developed under the POSHAN Abhiyaan (Prime Minister’s Overarching Scheme for Holistic Nutrition). It is a flagship programme to improve nutritional outcomes for children, pregnant women and lactating mothers. Recently it was seen in news as ..

Golfer Tiger Woods to be inducted into the World Golf Hall of Fame

American legendary golfer Tiger Woods will be inducted into the World Golf Hall of Fame as part of the class of 2021. Woods was among the 10 finalists named as candidates for 2021. Florida-based World Golf hall of fame announced ..

Veteran Bengali actor Santu Mukhopadhyay passes away

Veteran Bengali actor Santu Mukhopadhyay recently passed away of cardiac arrest at Kolkata. He was known for his roles in Bengali films such as ‘Sansar Simante’ and ‘Bhalobasa Bhalobasa’. The actor has performed in several memorable films and his acting ..