The recent report on local fintech players Subject: Economy Section: Monetary Policy Context: In its recent report, the Standing Committee on Communications and Information Technology expressed worries about foreign-owned fintech apps having too much control in India. More About News The committee suggested that Indian-owned apps should be encouraged more. It pointed out […]
Why has RBI put restraints on a certain card network? Subject: Economy Section: Monetary Policy Context: The Reserve Bank of India (RBI) has ordered a certain card network to stop “unauthorized payments” made using business cards. More on news: The network in question has allegedly allowed businesses to make payments through intermediaries to […]
Ms swaminathan recommendations Subject: Economy Section: Agri Context: Farmers demanding legal guarantee for MSP have invoked recommendations of the National Commission on Farmers, which said MSP should be ‘at least 50% more than the weighted average cost of production’. More on news: On November 18, 2004, the Ministry of Agriculture constituted a National […]
SBI in talks with RBI to lower CRR on green deposits Subject: Economy Section: Monetary Policy Context: The State Bank of India (SBI) is in talks with the Reserve Bank of India (RBI) to reduce the cash reserve ratio (CRR) requirement on green deposits. About Green Deposits Green deposits are fixed-term investments tailored […]
Income Tax Appellate Tribunal (ITAT) Subject: Economy Section: Fiscal Policy Context: Recently, the I.T. department froze Congress bank accounts over 2018-19 returns but the appellate tribunal provided partial relief. About Income Tax Appellate Tribunal (ITAT): ITAT is a quasi-judicial institution set up in January 1941. It specialises in dealing with appeals under the […]