Page-2 of Current Affairs - December, 2023

The Murky Laws Around Charging for Carry Bags in India

December 29, 2023

The recent Rs 9,000 penalty on clothing brand Lifestyle for charging a customer for a paper bag highlights India’s ambiguous rules on carry bag fees. Despite some court rulings against surprise charges, confusion persists. Origin of the Problem India’s 2011 ..

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Government Adds 34 Lakh Farmers Back to PM-KISAN Scheme

December 29, 2023

The Indian government has re-enrolled 34 lakh farmers under its PM-KISAN program after numbers dropped over 20% from peak levels in 2022. This comes amidst a nationwide yatra to saturate coverage. PM-KISAN Benefits and Eligibility The Pradhan Mantri Kisan Samman ..

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E-Commerce Exports Handbook for MSMEs

December 29, 2023

The Commerce Minister Piyush Goyal released a comprehensive “E-Commerce Exports Handbook for MSMEs” to boost overseas shipments by small businesses using online platforms. A One-Stop Guide The handbook offers a definitive guide for micro, small and medium enterprises (MSMEs) to ..

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India Warns Offshore Crypto Exchanges Flouting Regulations

December 29, 2023

India’s anti-money laundering agency, the Financial Intelligence Unit (FIU-IND), has issued legal notices to 9 offshore cryptocurrency platforms violating domestic regulations. Bringing Crypto into the AML Ambit In March 2022, India mandated all Virtual Digital Asset Service Providers (VDA SPs) ..

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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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Wang’s Garden Lizard Discovered in China

December 28, 2023

Researchers have identified a new species of iguana living in southern China and Vietnam that was previously confused with a close iguana relative found in the region. Meet Calotes Wangi The lizard has been named Calotes wangi or Wang’s garden ..

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Former European Commission President Jacques Delors Dies at 98

December 28, 2023

Former European Commission President Jacques Delors passed away recently at age 98. The French statesman was instrumental in major EU integration milestones but drew the ire of euroskeptics in Britain. Unifying Europe As Commission president from 1985-1995, Delors spearheaded landmark ..

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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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