Pre-Packs Subject: Economy Context: The Insolvency and Bankruptcy Code (Amendment) Bill, 2021, passed by Lok Sabha on Wednesday has proposed ‘pre-packs’ as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs) Concept: What are ‘pre-packs’? A pre-pack is an agreement for the resolution of the debt of a distressed company through […]
Rooftop Solar Programme Subject: Economy Context: To promote rooftop solar (RTS) in the country including in rural areas, the Ministry of New and Renewable Energy is implementing Rooftop Solar Programme Phase II wherein RTS capacity aggregating 4000 MW by 2022 is targeted for installation in residential sector with provision of subsidy. Concept: The […]
Govt says 78 foreign companies registered in India last fiscal year Subject: Economy Context: As many as 78 foreign companies were registered in the country under the company’s law in the last financial year, according to official data. In 2019-20, a total of 124 foreign companies were registered in India. The count was […]
Wilful defaulter Subject: Economy Context: Banks have added Rs 38,976 crore from 662 borrower accounts as willful defaulters during the 12 months ended December 2020 when the Covid pandemic hit the country’s financial system. Concept: As per the Reserve Bank of India’s (RBI) classification, a ‘wilful default’ would be deemed to have occurred if the […]
Collateral margin Subject: Economy Context: The Securities and Exchange Board of India (SEBI) came up with a fresh circular last week to strengthen the collateral margin reporting mechanism in the stock markets. Concept: Collateral margin is the extra funds received for trading or investing by pledging securities held in clients demat account. The […]
Agriculture Infrastructure and Development Cess (AIDC) Subject: Economy Context: As part of its effort to rein inflation, the Finance Ministry on Monday cut to zero the import duty on masur dal. However, the lentil will attract 10 per cent Agriculture Infrastructure and Development Cess (AIDC). The Centre cut the cess on all lentils […]