Subject: Economy Context: India has imposed anti-dumping duty on commonly-used anti-bacterial drug Ciprofloxacin imported from China. Concept: An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower […]
Subject: Economy Context: Reserve Bank of India (RBI) gave a clear indication in the Open Market Operation (OMO) – Purchase and Sale – auction that it does not want Government Security (G-Sec) yields to go up. Concept: Open market operation is the sale and purchase of government securities and treasury bills by RBI without printing […]
Subject: Economy Context: Reserve Bank of India (RBI) has comprehensively reviewed the Priority Sector Lending (PSL) guidelines to enable better credit penetration to credit deficient areas and increase the lending to small and marginal farmers and weaker sections. Changes: The revised PSL norms are aimed at aligning the same with “emerging national priorities and bring […]
Subject: Economy Context: RBI given moratorium period expired on August 31 so people sought a complete waiver of interest for the moratorium period. Concept: The term ‘force majeure’ has been defined in Black’s Law Dictionary, as ‘an event or effect that can be neither anticipated nor controlled. From a contractual perspective, a force majeure clause […]
Subject: Economy Context: The Centre informed the Supreme Court that moratorium on repayment of loans allowed during the Covid-19 crisis can be extended by up to two years. Concept: On 27th March, 2020, the RBI announced a three-month moratorium (1st March to 31st May) on loan and card repayments. Again extended for three months till 31st During moratorium the customer does […]
Subject: Economy Context: The Supreme Court Tuesday held that telecom firms will get 10 years to clear their adjusted gross revenue or AGR dues Concept: All the telecom companies that operate in India pay a part of their revenues as licence fee and spectrum charges to the Department of Telecommunications (DoT) for using the spectrum owned by […]
Subject: Economy Context: According to data released by the Commerce and Industry Ministry, ‘fertiliser’ was the only core sector industry to record an increase in July at 6.9 per cent (1.5 per cent in July 2019). Concept: All the other segments reported a contraction in July — steel (-16.4 per cent), refinery products (-13.9 per […]