Securities transaction tax (STT) Subject: Economy Context: A substantial part of the submissions of the financial sector at the pre-Budget meeting centered around ‘taxation’ issues. Details: Capital market participants have urged to reduce the securities transaction tax (STT) rate for cash market transactions, while hiking the STT rate for futures and options. The […]
Appellate body Subject: Economy Context: The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 32 lakh on a public sector bank for non-compliance with certain provisions of Reserve Bank of India. Details: The orders released had minimum details about the violations. It has drawn criticism from various quarters and a […]
Swiss Challenge Subject: Economy Context: The Swiss Challenge auctions conducted as part of the sale of non-performing assets to India’s bad banks are turning out to be profitable. Details: The bidders are willing to pay more than the offer by the National Asset Reconstruction Co. Ltd (NARCL). How does the auction work? Lenders sell […]
India and the European Union Trade Relation Subject: Economy Context: India and the European Union (EU) signed an agreement on cooperation in areas such as climate modeling and quantum technologies. Concept: Intent of Cooperation On High-Performance Computing (HPC), Weather Extremes and Climate Modelling and Quantum Technologies: It was signed by India’s ministry of […]
Friendshoring Subject: Economy Context: The US is ‘friendshoring’, and a key beneficiary could be India. Concept: Friendshoring: In the post-pandemic world and geopolitical challenges-the concept emerged as an alternative model for international trade. Friendshoring or Allyshoring is a concept derived from onshoring and nearshoring but it goes beyond that by limiting supply chain […]
Andaman seeks GI tag for Nicobari hodi Subject :Economy In news- Tribal Development Council, Andaman & Nicobar Islands is seeking the Geographical Indication (GI) tag for the Nicobari hodi boat. This is the first application from the Union Territory seeking a tag for one its products. About Nicobari hodi- The hodi is the […]
Centre scraps export tax on iron ore and steel Subject :Economy In news- India scrapped export taxes on low-grade iron ore and on some intermediate steel products beginning 19 nov 2022, after months of complaints from miners and steel makers about loss of foreign sales opportunities. Tax imposed- A notification issued reverses the […]
Central Depository Services Ltd Subject: Economy Context: The settlement of trades at Central Depository Services Ltd was delayed on Friday due to detection of malware in its machines. Concept: Depository It is a place where financial securities are held in dematerialised form. Depositories act like your bank account. As you store money in […]