Import Current Affairs, GK & News

RBI: Mechanism for International trade in rupees (INR)

On July 11, 2022 the Reserve Bank of India (RBI) notified new measures to settle down “international trades in rupee”. This move will promote global trade and emphasise on exports from India. About the new mechanism RBI has announced new mechanism for the purpose of invoicing, payment, as well as settlement of exports or imports ..

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RBI Draft Norms for Trade via E-commerce

The Reserve Bank of India has proposed to modify the existing norms that are in place with the aim of rationalizing and simplifying the process for payment settlement for imports and exports through e-commerce. Overview: The draft guidelines named ‘Processing and Settlement of small value Export and Import related payments’ that are facilitated by Online ..

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PLI Scheme for Drone Industry

The production-linked incentive (PLI) scheme for the drone industry was notified by the Ministry of civil aviation in September 2021. About the scheme Under the scheme, manufacturers of drones and drone components will be given an incentive of 20% of the value addition made by them during the next three years. The value addition will ..

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Manufacture and import of Polyester National flags – Update (March, 2022)

The Union government amended the 2002 Flag Code of India, to allow the manufacture and import of machine-made polyester national flags. About the amendment According to the amended flag code, “The National Flag shall be made of hand-spun and hand-woven or machine-made, cotton, polyester, wool, silk khadi bunting.” Earlier the rules did not permit polyester ..

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Defence Canteens ban import of finished goods

The Government controlled Canteen Stores Department that operates canteens of defence forces are to ban the imported items. This is applicable to all the Fast Moving Consumer Goods and Liquor, consumer durables and footwear. Highlights Out of 5,500 items sold by the Canteen Store Department, more than 420 are imported. This data was provided by ..

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Web Portal launched to provide star rating of coal mines

The Ministry of coal launched web portal in New Delhi to provide star rating of coal mines. Based on the star rating the highest scoring mines are to be awarded. Highlights According to the new system, the mines scoring between 91% and 100% will get 5 star, below 91% and above 81% will receive 4 ..

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