Subject : Economics Context : Overall advance corporate tax stood at Rs 2,39,125 crore so far this year, down 4.9 per cent from Rs 2,51,382 crore as the first two quarters bore the brunt of the lockdown. Concept : Corporate tax is the tax imposed by the Government of India on the net income or […]
Subject : Economics Context: The new cheque payment rule will come into effect from 1 January 2021 to keep consumer safety in focus and to lower the cases of fraud and abuse with respect to cheque payment. Concept : Under this rule, the issuer of the cheque will submit certain minimum details of that cheque […]
Subject: Economics Context: Softening prices of food items like cereals, fruits and milk pulled down retail inflation to 6.93 percent in November, though it remained above the comfort level of the Reserve Bank of India. Concept: Headline Inflation Headline inflation is the raw inflation figure reported through the Consumer Price Index (CPI) that is released […]
Subject: Economics Context: The Delhi High Court on Wednesday asked the Centre if e-commerce entities such as Flipkart, Amazon and Snapdeal, are complying with the requirement of displaying ‘country of origin’ on products offered for sale on their websites. Concept: It has been stated that the laws relating to the issue were enacted under the […]
Subject: Economics Context: The Reserve Bank of India (RBI) announced the introduction of risk-based internal audit norms for large urban cooperative banks (UCBs) and non-banking financial companies (NBFCs), as part of measures aimed at improving governance and assurance functions at supervised entities. Concept: The RBI also moved to harmonise the guidelines on appointment of statutory […]
Subject: Economics Context: The Reserve Bank of India (RBI), in its bi-monthly monetary, has decided to keep the repo rate unchanged. Concept : This is the third time in a row the central bank has kept the key rates unchanged. The status quo on monetary policy was as expected by most economists, amid high levels […]
Subject: Economics Concept: Monetary Policy Committee opined that inflation was likely to remain elevated, “barring transient relief in the winter months from prices of perishables”. This, it stressed, “constrains monetary policy at the current juncture from using the space available to act in support of growth”. Projection on CPI inflation Consumer Price Index (CPI) inflation, […]
Subject: Economics Context: Reserve Bank of India governor announced that RBI has enhanced limits for contactless card payments from ₹2,000 to ₹5,000. This will be effective from 1 January 2021 and will be at the discretion of the user. Concept: The RBI’s decision to increase the limit from Rs. 2000 to Rs. 5000 without entering […]
Subject: Economics Context: Stressed sectors have got a fresh line of support with the RBI extending its targeted long-term repo operations (TLTROs) to the 26 industries — including power, realty and textiles. Concept: LTRO is a tool that allows banks to borrow one to three years of funds from the Central Bank at the Repo […]
Subject: Economics Context: The RBI Governor recently said that India will continue to approach capital account convertibility as a process rather than an event. Concept: Capital account convertibility refers to the ease and freedom in converting a country s currency into any other foreign currency (such as US dollar, pound sterling, Euro etc) and vice […]