RBI Joins ‘Project Nexus’ for Instant Cross-Border Retail Payments Sub: Economy Sec: Monetary Policy Overview: The Reserve Bank of India (RBI) has joined “Project Nexus”, an international initiative to enable instant cross-border retail payments by interlinking domestic Fast Payment Systems (FPSs). About Project Nexus: Conceptualization: Developed by the Innovation Hub of the Bank […]

    Indonesia plans import duties on clothing, ceramics, minister says Sub: Economy Sec: External Sector Context: Indonesia will impose safeguard duties of 100% to 200% on imports ranging from footwear to ceramics, reviving a plan to protect domestic industries, the trade minister said. The planned import duties average more than 100%. Trade Minister Zulkifli […]

    Government Amendments to EPS Withdrawal Benefits Sub: Economy Sec: Inflation and unemployment Amendment Details: The government amended the Employees’ Pension Scheme (EPS), 1995 to allow withdrawal benefits for members with less than 6 months of contributory service. Previously, withdrawal benefits were calculated based on completed years of contributory service and wages on which […]

    SEBI Tightens Norms on Financial Influencers and Eases Delisting Rules Sub: Economy Sec: Capital market Overview: India’s markets regulator, the Securities and Exchange Board of India (SEBI), has introduced new regulations to address the rising influence of unregulated financial influencers who advise on stocks and investments through social media platforms like YouTube and […]

    CBIC to Launch Automated Currency Exchange Rate Publishing System on July 4 Sub: Economy Sec: External Sector Overview: The Central Board of Indirect Taxes and Customs (CBIC) will introduce the automated Exchange Rate Automation Module (ERAM) system on July 4, replacing the manual process of notifying exchange rates. This new system is part […]