Economy: Current Affairs, GK & News - 2020-2021

RBI allows modern currency chests to hike service charges

Published: May 25, 2019

The Reserve Bank of India (RBI) has allowed large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of Rs. 5 per packet of 100 pieces to a higher rate subject to a maximum of Rs. 8 per packet. For this, only a Currency Chest ..

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Wirecard teams up with India to issue PAN cards

Published: May 25, 2019

German payments company Wirecard has teamed up with India to simplify the process of issuing tax identity cards required to open bank accounts, transfer money or complete business transactions. The deal, with state company UTI Infrastructure Technology and Financial Services, seeks to widen the distribution of so-called PAN cards in the country of 1.3 billion ..

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Union Ministry of Finance launches Project Sparrow for online writing of Annual Performance Appraisal Report

Published: May 20, 2019

The Union Ministry of Finance has launched Project Sparrow for online writing of Annual Performance Appraisal Report (APAR) in SPARROW (Smart Performance Appraisal Report Recording Online Window) for Group ‘B’ and ‘C’ Officers of Central Board of Indirect Taxes & Customs (CBIC). SPARROW-CBIC is one of its kinds in terms of Scale/ number of employees ..

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Kerala becomes first Indian state to list Masala Bond in overseas market

Published: May 20, 2019

On May 17, Kerala became the first sub-sovereign entity in the country to access the international market by listing masala bonds issued through its off-budget mechanism – the Kerala Infrastructure Investment Fund Board (KIIFB). Chief Minister Pinarayi Vijayan has become the debutant head of state in the country to open trading at the London Stock ..

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Nandan Nilekani committee submits report on digital payments to RBI

Published: May 20, 2019

A Reserve Bank of India (RBI) – appointed committee headed by Aadhaar architect Nandan Nilekani submitted its report on promoting digital payments to RBI Governor Shaktikanta Das on May 17. The RBI will examine the recommendations of the committee and will link the action points, wherever necessary, in its Payment Systems Vision 2021 for implementation. ..

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