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CCI imposes Rs. 54 crore fine on 3 airlines for unfair business practices
The Competition Commission of India (CCI) has imposed fine of more than Rs. 54 crore on Jet Airways, InterGlobe Aviation and SpiceJet for unfair business practices with respect to fixing fuel surcharge on cargo transport. The CCI order comes on ..
Month: Current Affairs - March, 2018
India-China trade hits record $84.4 billion in 2017
According to data of Chinese General Administration of Customs, India-China bilateral trade has reached $84.44 billion last year, a historic high with 18.63% year-on-year growth rate. This is regarded as historic landmark in bilateral relations of both countries, as volume ..
Month: Current Affairs - March, 2018
Cabinet approves two relief measures for stressed telecom sector
The Union Cabinet has approved two key measures in telecom sector to facilitate investments, consolidation in the sector and enhancing ease of doing business. These include restructuring Deferred payment liabilities of spectrum auction of telecom service providers (TSPs). Revising the ..
Month: Current Affairs - March, 2018
US move to raise import duty on steel may hit India’s steel market: ISA
According to Indian Steel Association (ISA), proposal by Trump administration to levy steep tariff on steel imports may hit India’s domestic steel market. Recently, US had proposed to impose tariffs of 25% on steel imports and 10% on imported aluminium ..
Month: Current Affairs - March, 2018
Commerce Ministry to devise strategy on product standards
The Union Ministry of Commerce and Industry has released draft Indian National Strategy for Standardisation for standardisation of products and services to provide level playing field to domestic industry and adopt best global practices. The strategy will play an active ..
Month: Current Affairs - March, 2018
Iraq overtakes Saudi Arabia as India’s biggest Oil Supplier
Iraq has overtaken Saudi Arabia to become India’s top crude oil supplier by supplying 38.9 million tonnes (MT) crude oil in the current financial year. It was fifth of the India’s oil needs. India is 80% dependent on imports to ..
Month: Current Affairs - March, 2018
Government sets up Subhash Chandra Garg Committee to regulate fintech sector
The Union Government has set up 8 member steering committee look into the development and regulation of the financial technology (fintech) sector in India. It will be headed by Economic Affairs Secretary Subhash Garg. The move follows an announcement by ..
Month: Current Affairs - March, 2018
Services PMI contracts to 47.8 in February 2018
The Nikkei India Services Business Activity Index contracted at 47.8 in February 2018 compared with 51.7 in January 2018. A reading above 50 implies an expansion while one below 50 denotes a contraction. The contraction shows that activity and new ..
Month: Current Affairs - March, 2018
India 12th largest overseas holder of US securities in 2017
According to recent figures compiled by US Treasury Department, India is 12th largest overseas holder of US government securities. India’s exposure to it has risen sharply to high of US $144.7 billion at end of 2017. The preliminary data from ..
Month: Current Affairs - March, 2018
Cabinet approves establishment of National Financial Reporting Authority
The Union Cabinet approved establishment of National Financial Reporting Authority (NFRA) as an independent regulator for the auditing profession. It aims to tighten regulatory oversight over auditors and plug loopholes. It will be independent from those it regulates for enforcement ..