New accounting mechanism for releasing funds for government schemes Subject: Economy Section: GDP Context: The government managed to save around ₹10,000 crore of interest cost during 2021-22 (FY22) with the help of a new accounting mechanism that aims to release funds for government schemes ‘just in time’. Finance Secretary TV Somanathan disclosed this […]
Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules 2022 Subject: Economy Section :Infrastructure Context: The Government notified the Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules, 2022, which allow consumers with a sanctioned load of 100 kilowatt (kW) to purchase power directly from renewable energy (RE) producers. There will […]
SEBI and Crypto-assets Subject: Economy Section: banking and finance SEBI has told lawmakers that consumer protection and enforcement of any regulatory regime over crypto assets would be challenging due to the decentralised nature of the digital instruments. Key recommendations: It doesn’t seek a ban on crypto trading. It said that crypto assets related […]
EPFO and its investments Subject: Economy Section: Employment The Employees’ Provident Fund Organisation (EPFO) has held a “preliminary discussion” on raising the cap for investments linked to equity from 15 percent of incremental flows to 20-30 per cent, to shore up returns for the distribution of interest income to its six crore active […]
Provisioning and NBFC Subject: Economy Section: banking and finance Context: The Reserve Bank of India (RBI) on Monday unveiled norms for provisioning for loans extended by large non-banking financial companies (NBFCs) in the wake of the expanding role played by NBFCs in retail lending. Details: Category of loan (provided by NBFC-Upper Layer) Rate […]
FM reviews progress on ‘bad bank’ rollout, status of regulatory nods Subject: Economy Section: banking and finance Content: The National Asset Reconstruction Company Ltd (NARCL), popularly referred to as the “bad bank” is intended to take over large value NPA accounts (over ₹500 crore) from the banks. With the account-wise due diligence nearing […]