India-EFTA Seal Trade Deal; Aim for $100B Investment
India and the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, have signed a Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. The agreement is expected to enhance bilateral trade and investment between the two sides in various sectors, such as pharmaceuticals, medical devices, food processing, banking, digital trade, and […]
Cabinet Approves 4% DA Hike; ₹12,900 Cr Outgo
The Union Cabinet has approved a 4% hike in dearness allowance (DA) for central government employees and pensioners, effective from January 1, 2024. The move will boost the income and spending of over 10 million beneficiaries and stimulate the economy. The Union Cabinet on Thursday approved the release of an additional instalment of dearness allowance […]
PM Modi Announces Rs 100 Cut in LPG Cylinder Prices
Prime Minister Narendra Modi on Friday announced a cut of Rs 100 per cylinder in cooking gas LPG price on the occasion of the International Women’s Day. The price reduction, which comes just days before the likely announcement of the 2024 Lok Sabha polls, is set to benefit nearly 33 crore domestic consumers of liquefied […]
CCI New Penalty Rules: Based on Company Income, Turnover
The Competition Commission of India (CCI) has issued new guidelines for imposing penalties on companies that violate the competition law. The guidelines, which came into effect from March 6, 2024, allow the CCI to base the penalties on the average turnover or income of the company derived from all products and services, and not just […]
Government Announces Settlement Provisions in Competition Law
The government has recently notified the provisions relating to settlement and commitment under the competition law, which will enable faster resolution of cases involving anti-competitive practices and abuse of dominant position. What are settlement and commitment provisions? Settlement provisions allow parties involved in competition law violations of vertical anti-competitive agreements [Section 3 (4)] and also […]
SBI Criticised by Bank Federation Over Electoral Bonds Delay
The State Bank of India (SBI) is facing criticism from various quarters for seeking more time from the Supreme Court to disclose the details of electoral bonds purchased and redeemed by political parties since April 12, 2019. The apex court had struck down the Centre’s Electoral Bonds Scheme as unconstitutional on February 15, 2024, and […]
Digital Gateway: New Govt Initiative for Farmer Finance
The government has launched an online digital gateway named “e-Upaja Kisaan Nidhi” to empower farmers with access to pledge finance against their harvested commodities. This initiative enables farmers to store their agricultural produce with the Warehousing Development and Regulatory Authority (WDRA) and secure post-harvest loans from banks. What is pledge finance? Pledge finance is a […]
MYUV Abhiyan : UP’s Blueprint for Youth Entrepreneurship
Uttar Pradesh, the most populous state in India, is on a mission to transform its economy by nurturing entrepreneurship among its youth. The state government has recently launched an ambitious scheme called “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUV Abhiyan)”, which aims to provide interest-free loans and support to young entrepreneurs who want to start their […]
RBI updates Bharat Bill Payment System for Better Efficiency
The Reserve Bank of India (RBI) has introduced a new framework called the Bharat Bill Payment Systems Directions, 2024, to simplify and make the system of bill payments more seamless and enhance customer protection. The fresh directive is applicable to NPCI Bharat Bill Pay Limited (NBBL), a wholly owned subsidiary of National Payments Corporation of […]
XHelper App: China’s Silent Scam Network Exposed
XHelper is a malicious Android app that has been found to be the axis of a global money laundering network. It is used by Chinese cybercriminals to recruit and manage money mules in India, who are then used to transfer funds acquired through various scams, such as loan scams, e-commerce scams, illegal gambling apps, etc. […]