H-1B non immigrant visa program allows U.S. employers to temporarily employ foreign workers in specialty occupations, defined by statute as occupations that require highly specialized knowledge and a bachelor’s or higher degree in the specific specialty, or its equivalent
Organization of the Petroleum Exporting Countries Plus (OPEC+)
OPEC+, or the Organization of the Petroleum Exporting Countries Plus, is a group of oil-exporting countries that work together to regulate the supply of oil and stabilize global oil prices
MGNREGS Wages Hike
Context: The parliamentary standing committee on rural development and panchayati raj has urged the government to consider revising and increasing wage rates under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) finding the current payment not in “consonance with the rising cost of living”. Read about: Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA )
3.7 Million Farmer IDs under AgriStack
Context: The government on Tuesday informed Parliament that more than 3.7 million identity cards of farmers have been created so far as part of the AgriStack project. What is AgriStack Initiative? Providing APIs for AgriStack Initiative
MSP Needs Recognition
Context: Parliamentary standing committee on agriculture, animal husbandry and food processing recommends a legally recognized minimum support price for farm produce. Key Highlights:. The Minimum Support price (MSP) The minimum support price (MSP) is the minimum price that is set by the Government of India for certain crops to ensure a minimum profit as well as ensuring food security for farmers. The MSP is basically announced at the beginning of the sowing season for crops like wheat and paddy. The government fix the mount of MSP based on recommendations from the Commission for Agricultural Costs and Prices (CACP). Aim of MSP: The MSP is different from the procurement price and issue price. When the market price for a commodity falls below the MSP, the government buys the entire quantity of food grains by the farmers at the MSP.
The Indian Rupee Fell
Context: The Indian rupee fell an all-time low of 84.93 per US dollar, per mid-session on Tuesday. Factors Affecting:
SME IPO rules on Sebi
Context: The Securities and Exchange Board of India (Sebi) will take up proposals that will affect small and medium enterprises (SMEs), angel funds, and the broader securities market through IPO regulations, insider trading rules, and compliance for registered entities during its board meeting on 18 December. Also Read: SME IPOs Reveals Data Small and Medium Enterprise Initial Public Offering (SME IPOs): SEBI: Regulation for Algorithmic Trading Details of the Changes made by SEBI:
Sebi Prohibits FPIs from Issuing P-Notes
Context: The Securities and Exchange Board of India (Sebi) barred foreign portfolio investors from issuing offshore derivative instruments (ODIs), locally referred to as participatory or P-notes, with derivatives as an underlying asset. Highlights: Participatory notes (P-notes) Participatory notes (P-notes) are financial instruments that allow foreign investors to invest in India’s stock market without registering with the Securities and Exchange Board of India (SEBI). P-notes are issued by registered foreign institutional investors (FIIs) to overseas investors. Offshore Derivative Instruments (ODIs) ODIs are vehicles that allow foreign investors to invest in Indian equities or equity derivatives without registering in the country. Foreign Institutional Investors (FIIs) Foreign Institutional Investors (FIIs) are investors or funds that invest in a country apart from the one where they are registered or headquartered. FIIs include investment banks, mutual funds, hedge funds, and pension funds.
Bank Fraud Cases
Context: The Indian Banking Association recommends to the finance ministry to direct all public sector banks (PSBs) to conduct period training programs by CBI for improvement of vigilance and strengthening of efforts to curb frauds. Key Highlights: Indian Banks’ Association
Certificates of Deposit (CDs)
Context: About trillion was mobilized this fiscal year through the issuing of Certificates of Deposit (CDs) mainly for the purpose of managing cost of funds with credit-to-deposit gap. Key Highlights: What is Certificates of Deposit (CDs)? A certificate of deposit (CD) is a financial instrument that allows one to earn interest on a fixed amount of money that a person deposits with a bank for a set period of time: In India, CDs are issued by scheduled commercial banks, regional rural banks, small finance banks, and All India Financial Institutions.
