Economy Current Affairs - 2019

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International Micro, Small and Medium-sized Enterprises Day: June 27

The International Micro, Small and Medium-sized Enterprises (MSME) Day is observed every year across the world on June 27. This year is second edition after the day was instituted in April 2017. The day highlights strong contribution of MSME businesses worldwide to livelihoods, communities and economies, and need to support MSMEs towards their success. Objectives Read More…

Month:  Categories: International

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Second tranche of Bharat-22 ETF oversubscribed, receives bids worth Rs 15,436 crore

The second tranche of Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 companies, has received bids worth Rs. 15,436 crore, much higher than government’s fund raising target. The second tranche was targeted to achieve fund mop up of Rs 6,000 crore with green-shoe option for another Rs. 2,400 crore. Key Facts At the end Read More…

Month:  Categories: Business, Economy & Banking

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AIIB to invest $200 million into NIIF to boost infrastructure projects

The Asian Infrastructure Investment Bank (AIIB) has approved investment of $200 million in India’s National Investment & Infrastructure Fund (NIIF) to give greater impetus to mega infrastructure projects. It will be investing US $100 million now and remaining $100 million in the time to come. India: largest recipient of AIIB AIIB so far approved $4.4 Read More…

Month:  Categories: Business, Economy & Banking

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Government releases draft on cross-border insolvency resolution

The Ministry of Corporate Affairs has released draft on cross-border insolvency in order to strengthen Insolvency and Bankruptcy Code (IBC). It will help banks access overseas assets of company undergoing resolution. Similarly, Indian authorities will also be required to cooperate with foreign creditors to domestic company. Need The existing IBC provides for two Sections –234 Read More…

Month:  Categories: Business, Economy & Banking

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India notifies higher tariffs on 29 items imported from US

India has notified higher tariffs on 29 items imported from United States (US). This is was in retaliation against US announcement imposing tariffs on steel and aluminium items — 25% and 10% respectively — imported from all countries except Canada and Mexico in March 2018 to compensate from loss of revenue. Key Facts The 29 Read More…

Month:  Categories: Business, Economy & Banking

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Women Wizards Rule Tech programme launched by NASSCOM to increase number of women in senior levels in IT industry

Indian IT industry’s apex body NASSCOM (National Association of Software & Services Companies) has launched ‘Women Wizards Rule Tech’ programme to increase number of women in senior levels in Information Technology (IT) industry. The programme was announced in March 2018 at Nasscom Diversity and Inclusion Summit in Chennai as joint initiative by Nasscom Sector Skills Read More…

Month:  Categories: Business, Economy & Banking

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IRDAI constitutes Suresh Mathur committee to review norms related to Insurance Marketing Firms

The Insurance Regulatory and Development Authority (IRDAI) has set up 10-member committee to review norms related to Insurance Marketing Firms (IMF) with an aim to increase insurance penetration in the country. The committee will be headed by Suresh Mathur (ED-IMF, IRDAI). Terms of Reference The committee has been asked to revisit IRDAI (Registration of Insurance Read More…

Month:  Categories: Business, Economy & Banking

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