Relief to exporters, SEZ as GST Council makes clarifications Subject: Economy Section: Fiscal Policy Context: RBI announces OMO plan, leaves markets surprised. Key Points: What was the problem with remittances to Vostro A/Cs? Under the Goods and Services Tax (GST) regime, exports of goods or services are considered zero-rated supplies, which means they […]
RBI’s Open Market Operation plan Subject: Economy Section: Monetary Policy Context: RBI announces OMO plan, leaves markets surprised. Key Points: RBI on October 6th announced its plan to consider the Open Market Operation (OMO) sale of government securities to manage liquidity in the system. (When government securities are sold by the RBI, liquidity […]
State Flag GST on gaming firm Subject : Economy Section: Fiscal Policy Context: GST Council affirms 28% tax on online betting from October 1 More about the news: During the 52nd GST Council meeting, various decisions were made, including the reduction of GST rates on certain products and clarifications on tax treatment. The […]
RBI Proposes Anonymising Card Details at the Bank Level Subject :Economy Section :Monetary Policy Context: To further secure online transactions, the Reserve Bank of India (RBI) proposed to allow banks to “tokenise” debit or credit cards. Observing that Card on File Tokenisation (CoFT), which anonymises card details, had so far been offered at […]
RBI FLAGS INFLATION RISK TO STABILITY Subject :Economy Section :Monetary Policy Context: MPC leaves benchmark interest rates unchanged for a fourth straight meeting, reiterates its real GDP growth and retail inflation projections for the fiscal year at 6.5% and 5.4%, respectively. What is Monetary policy? Monetary policy refers to the policy of the […]
Reserve Bank onboards 30 more banks on UDGAM portal Subject : Economy Section: Monetary Policy In News: RBI onboards more banks to UDGAM to help people to search and claim their unclaimed deposits across multiple banks in one place. Key Points: RBI had in August 2023 launched a centralised web portal UDGAM to […]
CCI opts out as competition agencies get ranked globally Subject : Economy Section: Msc Context: CCI opts out of Rating Enforcement Survey; Remained “unranked” along with Competition Agencies of Canada, China, US DoJ& FTC Key Points: Competition Commission of India (CCI), has been ranked 2.8 (out of 5) on Market Perception Rating in […]
MoD releases 5th positive indigenisation list to give more exposure to domestic industry Subject : Economy Section: Msc In News: Ministry of Defence (MoD) on releases the fifth Positive Indigenisation list of 98 items at plenary session of ‘Swavlamban 2.0’. Key Points: Ministry of Defence (MoD) releases the fifth Positive Indigenisation list of […]