Page-2 of Ministry of Finance
India’s UPI Platform in Nepal
The first country to adopt India’s UPI system will be Nepal which will be critical in modernising the neighbouring country’s digital economy. Overview: To deliver the services in Nepal, NPCI International Payments Ltd (NIPL), NPCI’s international arm, has partnered with ..
Month: Current Affairs - February, 2022
Category: Economy & Banking Current Affairs
SEBI declares state-owned PEC as ‘not fit & proper’
For the first time, the Securities and Exchange Board of India (SEBI) has declared a government-owned company called “PEC Ltd” as ‘not fit & proper’. Highlights PEC Ltd is a 100 per cent government-owned company. It has been declared ‘as ..
Month: Current Affairs - October, 2021
Rajasthan: AU SFB- NABARD to boost rural development projects
Private sector AU Small Finance Bank (SFB) signed a pact with the National Bank for Rural and Development (NABARD) on September 29, 2021 in a bid to boost ongoing rural development initiatives in the state of Rajasthan. Highlights A Memorandum ..
Month: Current Affairs - September, 2021
IOB out of RBI PCA Framework
Reserve Bank of India (RBI) has moved out the public sector lender Indian Overseas Bank (IOB) from Prompt Corrective Action (PCA) framework after its financial and credit profile improved. Key Points This decision provides lender more freedom to lend, especially to corporations and ..
Month: Current Affairs - September, 2021
RoDTEP Scheme: India notifies Duty Rebate Rates
Centre government notified the rates and guidelines for Remission of Duties and Taxes on Exported Products (RoDTEP) export incentive scheme. Key Points This scheme for zero rating of exports will help in boosting India’s exports and competitiveness across the global ..
Month: Current Affairs - August, 2021
FinMin Joint Secretary Rashmi R Das appointed to UN Tax Committee
Rasmi Ranjan Das, a Joint secretary of the Finance Ministry has been appointed to the UN tax committee as a member for the term period 2021 to 2025. Rasmi Ranjan Das is Joint Secretary – (FT&TR-I), Central Board of Direct ..
Month: Current Affairs - July, 2021
Cabinet approves PMGKY 4.0
Union government has approved PMGKY 4.0 to allocate additional food grain for another period of five months from July 2021 to November 2021. Key Points Pradhan Mantri Garib Kalyan Yojana Phase IV will be launched from July 2021 to November ..
Month: Current Affairs - June, 2021
T Rabi Sankar named RBI deputy governor
The Government of India recently appointed T Rabi Shankar as the fourth Deputy Governor. About T Rabi Shankar T Rabi Shankar is in charge of fintech, payment system, risk management and information technology at the Apex Bank. He has succeeded ..
Month: Current Affairs - May, 2021
Scheme of Financial Assistance to States for Capex
The Ministry of Finance recently announced that it is to provide Rs 15,000 crores to the states for their Capital Expenditure for 2021-22. This is being provided as interest free fifty-year loan to spend on capital projects. Fresh guidelines have ..
Month: Current Affairs - May, 2021
Stand Up India Scheme: Over 81% account holders are women
The Ministry of Finance has launched several schemes in past seven years which comprise of several special provisions that empowers the women. One such scheme is “Stand-up India scheme” under which 81% of the account holders are women. All these ..