Context: Standard Chartered Bank, India, has launched a “FEMA (Foreign Exchange Management Act) Centre of Excellence” Highlights:
Increasing Fraud Cases Face Public Sector Banks of India
Context Borrowal account frauds are responsible for ten percent of the total fraud cases and for 98% of the total fraud value in the period from April 2020 to September 2024. Key Highlights: Borrowal account fraud, also known as loan fraud, is when someone intentionally provides false information to obtain a loan or credit. Public Sector Banks or PSBs are those banks wh
Retail Inflation in India Takes a Soft Curve
Context:Retail inflation dropped to 5.48% in November, after being 6.2% for the previous month. Retail inflation Also read: India’s retail inflation and food inflation
Capex
Context: Plan for building India’s logistics towards becoming a developed nation by 2047 is in the works and spending towards capital expenditure (capex) would be decided according to the country’s requirement, Minister of State (MoS) for Finance Pankaj Chaudhary ( pictured )told reporters on Friday.What What is Capital Expenditure?
Forex reserves decline
Context: India’s foreign exchange reserves dropped by $3.235 billion to $654.857 billion, a five-month low, for the week ended December 6, data released by the Reserve Bank of India (RBI) revealed. Highlights: What is Foreign Exchange Rese
SEBI: Regulation for Algorithmic Trading
Context: Securities and Exchange Board of India Proposes Regulation for Algorithmic Trading. Highlights: Know about: Retail Algorithm Trading Rules? What is Algorithmic Trading? Also read: Securities and Exchange Board of India (SE
Globalization of the Billionaires: Billionaires of India
Context: According to the latest study released by Union Bank of Switzerland, India is home to 185 billionaires, standing in terms of global ranking as the third most populated country concerning billionaires. Key Highlights: The Union Bank of Switzerland (UBS) was a Swiss investment bank and financial services company that merged with the Swiss Bank Corporation in 1998 to form UBS AG: Union Bank of Switzerland UBS AG Founded 1862 1998 Headquarters Zürich Zürich and Basel Activities Investment banking, financial services Personal and corporate banking, investment banking, wealth management, asset management
Telecom equipment sales rises: PLI Scheme
Context: Telecom equipment sales have crossed ₹68,700 crore under the Centre’s production linked incentive (PLI) scheme for the telecom sector within three and a half years of its launch, said Neeraj Mittal, secretary, department of telecommunications (DoT). Key Highlights: Production Linked Incentive (PLI) Scheme The government launched the Production Linked Incentive (PLI) Scheme that aim boosts the Indian manufacturing sector to become a global hub.
Epilepsy Treatment at AIIMS, Delhi
Context: The Neuroscience Centre at AIIMS, Delhi, has devised a unique treatment method using an advanced neurorobot that can ‘pop’ the brain and provide succour to millions who don’t respond to epilepsy drugs. Highlights: Epilepsy is a chronic brain disorder that causes seizures, which are episodes of abnormal electrical activity in the brain:
Swiss Takeaway: MFN status to India
Context: Switzerland has suspended the unilateral application of the most favoured nation (MFN) clause with India under the Double Tax Avoidance Agreement (DTAA). This suspension is based on the October 2023 ruling of the Supreme Court against the MFN’s validity. Key Highlights: The DTAA between India and Switzerland was signed in 1994 and amended in 2010 to prevent double taxation of income. What is Double Tax Avoidance Agreement (DTAA)? It aims to avoid double taxation incidents involving an income through bilateral agreements between two countries. Know more about: DTAA between India and Switzer
