Finance Current Affairs - 2020

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OSDMA bags SKOCH Award

The Odisha State Disaster Management Authority (OSDMA) has bagged the SKOCH Award, 2018 for its remarkable achievements in the field of disaster management. The award was presented at the 56th SKOTCH Summit held at New Delhi. The SKOCH Award is being presented since 2003 to individuals and institutions having done meritorious works in the field of governance, Read More…

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India and ADB sign $200 Million Loan to improve State Highways in Bihar

Union Government has signed $200 million loan agreement with Asian Development Bank (ADB) for Bihar State Highways III Project (BSHP-III). It will finance widening and upgrading of about 230 kms state highways in Bihar to all-weather standards with road safety features. Since 2008, ADB has provided four loans to Bihar amounting to $1.43 billion to Read More…

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N K Singh panel submits report on changes in FRBM Act  

The Fiscal Responsibility and Budget Management (FRBM) Committee has submitted its 4 volume report on changes in FRBM Act, 2013 to the Union Finance Minister Arun Jaitley. The 5 member committee was headed by N.K. Singh, former Revenue and Expenditure Secretary and former MP. Its member included RBI Governor Urjit Patel, Chief Economic Advisor Arvind Read More…

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Union Cabinet approves advancement of the Budget presentation

The Union Cabinet has given in principle approval for advancement of the date of Budget presentation from the last day of February to a suitable date. Besides in another reform relating to budgetary process, Union Cabinet has approved merger of Plan and Non Plan classification in Budget and Accounts. Advancement of the date of Budget Read More…

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RBI suspended licence of seven non-banking finance companies (NBFCs)

On 17 August the Reserve Bank of India (RBI) suspends licence of seven non-banking finance companies (NBFCs). The seven NBFCs whose licences were suspended are – Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities, Swetasree Finance. Being a dormant entity, Religare Finance licence was suspended Read More…

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Pramerica Mutual Fund has acquired Deutsche MF business in India

Mutual Fund sector witnessed fifth exit of foreign fund house in two years from India on 7 August, as Pramerica Mutual Fund (MF) a company affiliated to US based Prudential Financial Inc. buys out German Deutsche Bank Group’s MF business in India for 400 crore rupees. Deutsche MF with 20,720 crore rupees assets under management Read More…

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