GST Ministerial Panels Subject – Economy Context –Karnataka chief minister Basavaraj Bommai will lead a panel of state ministers to make recommendations to goods and services tax (GST) council on further rationalization of tax rates. Concept – Karnataka chief minister Basavaraj Bommai will lead a panel of state ministers to make recommendations to […]
Auto-Debit Norms Subject – Economy Context – Banks, merchants working on a common platform Concept – Banks are working on a common industry-wide platform to comply with the Reserve Bank of India’s norms on auto-debit which will come into effect from October 1. Bill Desk and Razorpay are the two companies working with […]
India must have at least six banks in top 100 global list: Economic Survey Subject – Economy Context – Being the fifth largest economy, India should have at least six banks in the top 100 global list, and at least eight would be required for a country having a $5-trillion economy, according to […]
State Bank of India Subject – Economy Context – India needs 4-5 SBI-size banks to meet growing needs of economy: Sitharaman Concept – State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 43rd largest bank in the world […]
International Taxation Rules Reform Subject – Economy Context – ‘India will not be on the losing side’ – officials at the Finance Ministry Concept – On July 1, the Organisation for Economic Co-operation and Development (OECD) announced that 130 countries and jurisdictions, including India, have joined a new two-pillar plan to reform international […]