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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
Committee formed for the implementation of Kisan Rail Scheme
The Government of India recently formed a committee in order to make suggestions on Kisan Rail Scheme. The scheme was introduced by Finance Minister Nirmala Sitaraman in the Union Budget 2020-21. Highlights The Committee has been formed with representatives from ..
Month: Current Affairs - March, 2020
Finance Minister introduces bill to amend Banking Regulation Act
On March 3, 2020, Finance Minister Nirmala Sitaraman introduced bill in Parliament to amend banking regulation law to regulate cooperative banks. It aims to prevent frauds as that seen at Punjab and Maharashtra Cooperative Banks (PMC). Highlights The Banking Regulation ..
Month: Current Affairs - March, 2020
GoI to increase reach of banking in the North-East Tea Garden areas
On February 27, 2020, the Finance Minister Nirmala Sitaraman announced that the banking in the North East Region is to be increased. Highlights The minister in a meeting with economists, trade and industry representatives and policy experts announced that the ..
Month: Current Affairs - February, 2020
EASE 3.0 launched by the Finance Minister to enhance Ease of Banking
On February 26, 2020, the Finance Minister Nirmala Sitaraman launched Enhanced Access and Service Excellence (EASE 3.0). It was launched along with the annual report of EASE 2.0 at a function organized by Indian Banks’ Association. Highlights The main aim ..
Month: Current Affairs - February, 2020
DPIIT notifies 100% Foreign Direct Investment in Insurance Intermediaries
The Department for Promotion of Industry and Internal Trade (DPIIT) operating under Ministry of Commerce and Trade has amended the FDI (Foreign Direct Policy) to allow 100% foreign investment for insurance intermediaries. This includes insurance companies, third party administrators, insurance ..