Mauritius loses edge on equity inflows Subject: Economy Section: External Sector Mauritius is fast losing its relevance as being the preferred destination for equity investments into India given the greater regulatory oversight over the island nation and the perception of it being a tax haven. Investments from Mauritius as gauged by the equity […]
Government to provide financial support to eligible agencies to promote GI Subject : Economy Section: Msc Context: The government will provide financial assistance to eligible agencies for undertaking initiatives for the promotion of Geographical Indications (GIs) products. What is the news? The Department for Promotion of Industry and Internal Trade (DPIIT) has issued […]
RBI’s ‘sandbox’ tests for fraud-proof fintech Subject: Economy Section: Monetary Policy Context: RBI picks fintech’s to test ways of preventing, mitigating financial fraud What’s the news? On January 5, the Reserve Bank of India called for applications for the testing phase of the fourth cohort of its ‘regulatory sandbox’. The theme is ‘prevention […]
Crypto Trade within PMLA Ambit Subject: Economy Section: Msc Concept: In order to regulate the crypto market, the Ministry of Finance announced that all virtual digital assets (VDAs) will come within the ambit of the Prevention of Money Laundering Act, 2002 (PMLA). In July 2022, it was reported that the Enforcement Directorate recorded […]
RBI infuses ₹82650 crore into banking system via VRR auction Subject :Economy Section: Monetary Policy Context: The Reserve Bank of India (RBI) infused liquidity amounting to ₹82,650 crore into the banking system on Friday via the 14-day Variable Rate Repo (VRR) auction amid tightening liquidity. Against the notified ₹1 lakh crore under the […]
India must prepare to curb volatility risk of international rupee: RBI Deputy Governor Subject : Economy Section: External Sector Concept : India needs to gear up to manage the inevitable volatility that will emerge in the foreign exchange market as the country progresses further towards internationalisation of the rupee, a deputy governor at […]
Central Government to reconsider ‘safe harbour’ clause in IT Law Subject: Economy Section: Msc Concept: The Central government formally outlined the Digital India Act, 2023. The Act will replace the decades-old Information Technology Act, 2000. Minister of State for Electronics and Information Technology, Shri Rajeev Chandrasekhar, announced that the government is reconsidering a […]
Floating Solar Panels Subject : Economy Section: Infrastructure Concept : In nearly a dozen countries around the world, floating solar farms are providing a welcome alternative to ground-mounted modules, with the potential to significantly boost clean power as the world races to cut carbon emissions. Massive solar farms can now be found atop […]
Money laundering laws will now cover cryptocurrency trade Subject :Economy Section: Msc Concept : In a gazette notification, the Finance Ministry said the anti-money laundering legislation has been applied to crypto trading, safekeeping and related financial services. The government has imposed the Prevention of Money-laundering Act, 2002 on cryptocurrencies or virtual assets as […]