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CCEA approves implementation of Project SAKSHAM

14 hrs ago
Important for Exam: 0 people agreed

IT project Saksham will help integrate system of Central Board of Excise and Customs with the GST network before the roll out in April 2017.

CCEA approves 5176 crore rupees Capital Grant for GAIL pipeline project

Sep 22, 2016
Important for Exam: 2 people agreed

This Capital Grant will encourage the supply of eco-friendly fuel at affordable tariffs to industries and will encourage industrial development in these states.

India, Samoa tax information exchange agreement approved

Sep 22, 2016
Important for Exam: 1 people agreed

The agreement will stimulate the flow of exchange of information between the two nations for tax purposes which will help curb tax evasion and tax avoidance.

Union Government notifies new import policy for marble & travertine blocks

Sep 19, 2016
Important for Exam: 2 people agreed

The new policy balances the interests of domestic consumers, producers and processors, and ends the cumbersome licensing system for import of Marble & Travertine blocks.

Union Cabinet approves establishment of Higher Education Financing Agency

Sep 13, 2016
Important for Exam: 2 people agreed

The HEFA will be jointly promoted by the identified Promoter and the Ministry of Human Resource Development (MHRD) with an authorised capital of 2000 crore rupees. The Government equity will be 1000 crore rupees.

Union Government issues fresh guidelines for flexi-fund for CSS

Sep 12, 2016
Important for Exam: 0 people agreed

Under the new norms, flexi-funds in each CSS have been increased from the current 10 per cent to 25 percent for states and 30 percent for Union Territories.

CBDT launches e-nivaran to resolve Income Tax grievances

Sep 11, 2016
Important for Exam: 12 people agreed

e-nivaran was started with an aim to reduce instances of harassment of the public when it comes to complaints related to the Income Tax (IT) department.

RBI cancelled certificate of registration of five NBFCs

Sep 10, 2016
Important for Exam: 9 people agreed

Following the cancellation of registration certificate, these companies will not be able to transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Railway launches insurance scheme for passengers travelling on e-ticket

Sep 2, 2016
Important for Exam: 5 people agreed

The facility available only for confirmed and RAC ticket passengers will not be applicable for children up to 5 years of age and foreign citizens.

Union Cabinet approves creation of PDF to catalyse Indian economic presence in CLMV countries

Sep 1, 2016
Important for Exam: 3 people agreed

CLMV countries namely Cambodia, Laos, Myanmar and Vietnam have a unique position in the regional value chains and offer a gateway for market access to China/EU and other markets due to various trade agreements.

Union Cabinet approves dissolution of Central Inland Water Transport Corporation Limited

Aug 31, 2016
Important for Exam: 6 people agreed

The Union Cabinet on 31 August 2016 approved the proposal for dissolution of Central Inland Water Transport Corporation Limited (CIWTC).

Unified Payments Interface introduced by banks

Aug 29, 2016
Important for Exam: 8 people agreed

UPI, a product of NPCI, will help move India towards a cashless economy and will allow account holders across banks to send and receive money from their smartphones using virtual payments address without entering bank account details.

RBI announced interest subvention scheme for Women Self-Help Groups

Aug 27, 2016
Important for Exam: 9 people agreed

All women SHGs will be eligible for interest subvention on credit up to 3 lakh rupees at 7 percent per annum under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission in 250 districts.

Union Cabinet approves revised Indo-Cyprus DTAA

Aug 25, 2016
Important for Exam: 2 people agreed

With the revision of the treaty now approved by the Cabinet, capital gains will be taxed in India for entities resident in Cyprus, subject to double tax relief.

Union Government launches web portal for star rating of major mineral mines

Aug 20, 2016
Important for Exam: 5 people agreed

A web enabled online system for evaluation of measures has been developed with the help of National Institute of Smart Governance (NISG), Hyderabad.

SBI board approved merger of 5 associate banks, BMB with itself

Aug 19, 2016
Important for Exam: 5 people agreed

The board also finalised the share swap ratio for three of the listed subsidiaries and Bharatiya Mahila Bank. The listed subsidiaries of the SBI are - State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore.

India Post Payments Bank incorporated

Aug 19, 2016
Important for Exam: 5 people agreed

With this incorporation, the bank has become the first Public Sector Undertaking (PSU) under the Department of Posts (DoP). Further, the DoP is expected to complete the roll out of its branches all over the country by September 2017.

Union Government constituted National Committee on Trade Facilitation

Aug 16, 2016
Important for Exam: 3 people agreed

The committee seeks to develop the pan-India road map for trade facilitation as per the Trade Facilitation Agreement of the WTO. The TFA is an outcome of the Bali Package 2013 or Ninth Ministerial Conference of the WTO.

RBI releases Third Bi-monthly Monetary Policy Statement 2016-17

Aug 10, 2016
Important for Exam: 11 people agreed

One of the key announcements under the policy was that the RBI Governor Raghuram G Rajan kept the Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.5 percent.

RBI constitutes Tarun Ramadorai Committee on Household Finance

Aug 5, 2016
Important for Exam: 6 people agreed

It will have representation from financial sector regulators namely, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA).

RBI launches Sachet portal to check illegal money collection

Aug 5, 2016
Important for Exam: 2 people agreed

The portal will help anyone can obtain information regarding entities that are allowed to accept deposits, lodge complaints and share information regarding illegal acceptance of deposits by unscrupulous entities.

CCEA approves Ghatampur Thermal Power Project in Uttar Pradesh

Jul 21, 2016
Important for Exam: 2 people agreed

The project will be installed through a Joint Venture Company named Neyveli Uttar Pradesh Power Limited, which is formed jointly by Neyveli Lignite Corporation Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited.

CCEA approves construction of new Dry Dock within Cochin Shipyard Limited

Jul 21, 2016
Important for Exam: 0 people agreed

The project will augment the shipbuilding/ship repair capacity essentially required for tapping the market potential of building specialized and technologically advanced large vessels.

CBDT signs seven Unilateral Advance Pricing Agreements with Indian taxpayers

Jul 19, 2016
Important for Exam: 1 people agreed

The international transactions covered in these agreements include software development Services, IT enabled Services, Engineering Design Services & Business Support Services.

RBI sets up Sudarshan Sen-headed Inter-regulatory Working Group on Fin Tech and Digital Banking

Jul 15, 2016
Important for Exam: 5 people agreed

It will view the growing significance of Fin Tech innovations and their interactions with the financial sector as well as the financial sector entities.

Time schedule for making payments under Income Declaration Scheme 2016 revised

Jul 15, 2016
Important for Exam: 3 people agreed

As per the revised schedule, a minimum amount of 25% of the tax, surcharge & penalty can be paid by 30 November 2016 and further amount of 25 % by 31 March 2017. The balance amount can be paid on or before 30 September 2017.

Union Cabinet approves disinvestment of 15% in NBCC

Jul 14, 2016
Important for Exam: 2 people agreed

NBCC, a Navratna company, was incorporated with an objective of becoming a leading company in the field of construction, engineering and project management consultancy services.

Union Cabinet approves revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni

Jul 14, 2016
Important for Exam: 0 people agreed

The setting up of new units at Sindri, Gorakhpur and Barauni will help in meeting the growing demand of urea of Bihar, West Bengal and Jharkhand.

CBDT notifies Rules for calculating Fair market value of Assets

Jul 1, 2016
Important for Exam: 3 people agreed

The Fair Market Value of listed companies will be computed on the basis of a formula taking into account its market capitalisation, book value of liabilities and total number of shares.

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