Demonitisation Current Affairs, GK & News

India will grow at 7.3% in 2018: World Bank Report

The World Bank in its twice-a-year South Asia Economic Focus report has projected growth rate of 7.3% for India in 2018 and 7.5% for 2019 and 2020. The growth is expected to accelerate from 6.7% in 2017 to 7.3% in 2018 and to subsequently stabilise supported by sustained recovery in private investment and private consumption. ..

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Government notifies Specified Bank Notes (Cessation of Liabilities) Act, 2017

The Union Government has notified the Specified Bank Notes (Cessation of Liabilities) Act, 2017 to prohibit the holding, transferring or receiving of scrapped old Rs.500 and Rs. 1000 currency notes from 31 December, 2016, This law makes possession of more than a certain number of the old Rs. 500 and Rs. 1,000 notes a criminal ..

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MEITY to promote digital transactions in place of NITI Aayog

The Union Government has shifted the responsibility of promoting digital transactions in the country to the Union Ministry of IT and Electronics (MEITY) from NITI (National Institution for Transforming India) Aayog. In this regard, Government already has changed the business transaction rules to enable MEITY to promote digital transactions, including digital payments. Key Facts This ..

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Income Tax Department launches Operation Clean Money

The Income Tax Department (ITD) launched Operation Clean Money (Swachh Dhan Abhiyan), an e-platform to analyse large cash deposits made during the demonetisation window (9 November to 30 December 2016). Under it, e-verification of large cash has been done using data analytics for comparing the demonetisation data with information in ITD databases. Key Facts In the first ..

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Cabinet clears interest waiver for farm loans

The Union Cabinet has given its ex-post facto approval for an interest waiver of farmers accessing short-term crop loans from cooperative banks for the two months of November and December, 2016 The decision also provides for interest subvention to National Bank for Agricultural and Rural Development (NABARD) on additional refinance provided by NABARD to Cooperative ..

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