Benami transaction Prohibition Act Subject :Economy Context: The Income Tax Department has attached assets worth over ₹18,400 crore till July 21, 2022, under the Benami Transaction Prohibition Act. However, it does not have segregated data for transaction made before and after October 24, 2016, when the amended Act came into force and the […]
Internationalisation of the rupee Subject :Economy Context: RBI Deputy Governor T Rabi Sankar drew a distinction between the status of ‘rupee as an international currency’ and the process of ‘internationalisation’ of the rupee. Background Steps taken towards internationalisation of the rupee. Enabling external commercial borrowings in rupees– Example Masala Bonds. Invoicing exports and […]
Monetary policy operations Subject :Economy Context: There could be changes, both in technical settings as well as the overall operating framework of monetary policy operations. Monetary policy trends: Traditional/normal times– Open Market Operations with the stated objectives to manage liquidity and indirect impact on yield curve. At the same time, specific frictions in […]
China-plus-one strategy Subject : Economy / Current Events Context: India must reorient its trade policy to take advantage of the increasingly popular China-plus-one strategy. Concept : About China-plus one strategy China Plus One, also known simply as Plus One, is the business strategy to avoid investing only in China and diversify business into […]
Financial Reporting Review Board (FRRB) Subject : Economy Context: The Financial Reporting Review Board (FRRB ) is likely to review edtech major BYJU’S financial statements and look into the alleged irregular accounting practices– including the delayed filing and revenue recognition from “streaming services”. Concept: Filing of financial statements by private companies: As a […]
Stock Exchange index Subject : Economy Context: Market watchers say Samvat 2078 (last Diwali to this) has been tough for Financial markets as the Sensex declined 0.96 per cent, while the broader Nifty index fell 1.48 per cent. Details: It is the beginning of Samvat 2079 next week. Causes of down performance: Omicron […]