Page-26 of Economy & Banking Current Affairs

New Guidelines Address Concerns Over India’s E-Commerce Tax Rule

December 29, 2023

The CBDT has released detailed guidelines clarifying issues regarding Section 194-O of the Income Tax Act mandating a 1% Tax Deduction at Source (TDS) by e-commerce companies. What Does Section 194-O Require? Introduced in 2020, Section 194-O requires e-commerce operators ..

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“Trend and Progress of Banking in India” Report

December 28, 2023

India’s banking sector demonstrated continued positive momentum in recent quarters, with falling bad loans, profitable growth and adequate capital buffers. Declining Bad Loan Ratio The non-performing asset (NPA) ratio of scheduled commercial banks dropped to a 10-year low of 3.2% ..

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Dr P. Indira Devi Conferred Prestigious ISAE Fellow 2023 Title

December 27, 2023

Dr P. Indira Devi, an eminent agricultural economist from Kerala, has been conferred the distinguished title of ISAE Fellow 2023 by the Indian Society of Agricultural Economics (ISAE). This recognition highlights her trailblazing contributions spanning over three decades in the ..

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eSvarna: The First Corporate RuPay Credit Card with UPI

December 27, 2023

IndusInd Bank has launched a pathbreaking new corporate credit card – eSvarna – on the RuPay network. It is India’s first corporate credit card that allows linking with UPI apps for payments. The card offers comprehensive features tailored to frequent ..

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India Identifies 22 Critical Mineral Blocks for Future Mining

December 26, 2023

Critical minerals refer to specialized metals and non-metals crucial for high-tech industries, clean energy technologies, defense, aerospace, and electronics. Securing steady supplies of such scarce minerals is vital for India’s self-reliance and strategic interests. Blocks Across 9 States Explored India’s ..

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Draft Omnibus Framework for recognising Self-Regulatory Organisations (SROs) for its Regulated Entities (REs)

December 22, 2023

The Reserve Bank of India (RBI) has released a ‘Draft Omnibus Framework for Recognising Self-Regulatory Organisations (SROs) for its Regulated Entities (REs).’ The draft framework aims to establish better industry standards for self-regulation and addresses challenges in regulating the rapidly ..

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Jute Corporation of India Launches ‘Paat-Mitro’ App for Jute Farmers

December 22, 2023

The Jute Corporation of India took a significant step toward supporting jute farmers by launching the ‘Paat-Mitro’ app. Rachna Shah, Secretary, Ministry of Textiles, inaugurated the app, which aims to provide essential knowledge to farmers for optimal jute cultivation and ..

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RBI Introduces Card-on-File Tokenisation Facility Through Banks

December 21, 2023

The Reserve Bank of India (RBI) has introduced a Card-on-File (CoF) tokenisation facility through banks, enabling cardholders to conveniently create and link tokens to their existing accounts with various e-commerce applications. The move allows CoF tokens to be generated directly ..

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