What is the G20 Summit?The participants are leaders from 19 countries and the Europian Union (EU). The 19 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Republic of South Africa, Russia, Saudi Arabia, Turkey, United Kingdom, United States of America. In addition, leaders of invited guest countries and representatives of invited guest international organizations participate in the summit along with leaders from the G20 members. The G20 Summit is formally known as the “Summit on Financial Markets and the Worl
Prime Minister Shri Narendra Modi on August 2nd launched the digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. Prime Minister said that the eRUPI voucher is going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital transactions in the country and will give a new dimension to digital governance. He said e-RUPI is a symbol of how India is progressing by connecting people’s lives with technology. What is e-RUPI and how it works?e-RUPI is basically a digital voucher which a beneficiary gets on his phone in the form of an
Maharatna Scheme The Government introduced the Maharatna scheme in December 2009 with the objective to delegate enhanced powers to the Boards of identified large sizes of Navratna CPSEs to facilitate further expansion of their operations, both in domestic as well as global markets. The Maharatna CPSEs in addition to having Navratna powers have been delegated additional powers in the area of joint ventures/ subsidiaries and human resources development. The Maharatna CPSEs (accordingly can invest Rs. 5000 crores in one project (Rs. 1,000 crores for Navartna CPSEs) and create below Board level po
The first bank of limited liability managed by Indians was Oudh Commercial Bank founded in 1881. Subsequently, Punjab National Bank was established in 1894. Rao Bahadur T.M. (Thalakodi Madathil) Appu Nedungadi, who was famous as the first Malayalam novelist, established Nedungadi Bank in 1899 at Calicut in Kerala. It was the first private sector commercial bank set up in South India. Swadeshi movement, which began in 1906, encouraged the formation of a number of commercial banks. The banking crisis during 1913-1917 and the failure of 588 banks in various parts of the country during the decade
The benefits of GST can be summarized as under: For Business and Industry Easy compliance: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. would be available to the taxpayers online, which would make compliance easy and transparent. Uniformity of tax rates and structures: GST will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business. In other words, GST would make doing business in the country
Capital market is one of the most important segments of the Indian financial system. It is the market available to the companies for meeting their requirements of the long-term funds. It refers to all the facilities and the institutional arrangements for borrowing and lending funds. In other words, it is concerned with the raising of money capital for purposes of making long-term investments. The market consists of a number of individuals and institutions (including the Government) that canalise the supply and demand for long -term capital and claims on it. The demand for long term capital com
At the instance of Government of India Reserve Bank of India (RBI), constituted a committee to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) on 30 March 1979, under the Chairmanship of Shri B.Sivaraman, former member of Planning Commission, Government of India to review the arrangements for institutional credit for agriculture and rural development. The Committee, in its interim report, submitted on 28 November 1979, felt the need for a new organisational device for providing undivided attention, forceful direction and pointed focus to the c
The Reserve Bank of India (RBI) was established under the Reserve Bank of India Act, 1934 on 1 April 1935 and nationalised on 1 January 1949. The Bank is the sole authority for issue of currency in India other than one-rupee coins and subsidiary coins. As the agent of the Central Government, the Reserve Bank undertakes distribution of one-rupee coin as well as small coins issued by the Government of India. It acts as banker to the Central Government, and State Governments by virtue of agreements entered into with them. It also handles the borrowing programme of the Central and State Government
Interior design is a fun and creative field. It mixes art and practicality to make spaces look good and work well. With more people wanting great places to live and work, the need for skilled interior designers is rising. Let’s look at what it takes to have a career in interior design, including nee →
Foundation Date: December 8, 1991 Headquarters: The Republic of Belarus Executive Secretaries: Sergei Lebedev Member Countries: 12 Commonwealth of Independent States (CIS) was established on December 8, 1991, and the leaders of the Republic of Belarus, the Russian Federation, and Ukraine signed an a →
In 2009, an unknown programmer by the name of Satoshi Nakamoto put forward a whitepaper that proposed a creation of new form of digital currency - cryptocurrency. Cryptocurrency functions the same way as regular currencies do in that its used as a means of exchange, unit of account and a store of va →
Headquarter: New Delhi Function and Objective of the Organization: The Food Safety and Standards Authority of India (FSSAI)has been established under Food Safety and Standards Act, 2006 which consolidates various acts & orders that have hitherto handled food-related issues in various Ministries →
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