Current Affairs - March, 2020

“Ganga Amantran Abhiyan” organized by National Mission for Clean Ganga

On March 14, 2020, the National Mission for Clean Ganga organized “Ganga Amantran Abhiyan” (GAA). The GAA is an open-water rafting and kayaking expedition in Ganga river. Highlights The expedition is conducted between Devprayag and Ganga Sagar. Devprayag is the place where two rivers Alakananda and Bhagirathi meet to form the mighty Ganges. Ganga Sagar Read More…

Corona Virus: GoI brings hand sanitizers and masks under Essential Commodities Act

The Government of India recently brought hand sanitizers and masks under Essential Commodities Act. Till 30th June, 2020, these products are to remain under Essential Commodities Act. The GoI has brought these commodities under the act by amending Schedule of Essential Commodities Act, 1955. Essential Commodities Act According to the act, an essential commodity is Read More…

GST Council Meet: GST of Mobile Phones increased from 12% to 18%

On March 14, 2020, the GST Council met for the 39th time in New Delhi. The Council was headed by the Finance Minister Nirmala Sitaraman. Highlights The Council has increased the GST of mobile phones from 12% to 18%. It reduced the tax on handmade and machine made match sticks to 12%. Also, the GST Read More…

Parliament passed Direct Tax Vivad Se Viswas Bill, 2020

On March 14, 2020, Parliament passed the Direct Tax Vivad Se Viswas Bill, 2020. The bill aims to reduce the number of litigation that are associated with direct tax payments. The Direct Tax Vivad Se Viswas concept was introduced by the Finance Minister Nirmala Sitaraman during the Union Budget 2020-21. Key Features of the bill Read More…

Exposure Limits for Urban Cooperative Banks revised by RBI

On March 13, 2020, the Reserve Bank of India revised exposure limits of Urban Cooperative Banks. Earlier the RBI permitted 15% of its capital funds to single borrowers and 40% of its funds to group of borrowers. It has now revised the group of borrower fund limit to 25% of its funds. Highlights Apart from Read More…