Karnataka aims to enhance its investment appeal by guaranteeing business proposals receive necessary clearances within 100 days.  This initiative responds to competitive pressures from neighboring states.

Government Doubles Loan Limit Under Mudra Yojana to ₹20 Lakh

The state of Bihar has inaugurated its first dry port in Bihta, a town near Patna, on October 21, 2024. This initiative is aimed at boosting Bihar’s export potential, in partnership with Pristine Magadh Infrastructure Private Limited and the state industry department.

The Chief Minister’s Office (CMO) stated that Karnataka is outperforming the national economy.

The Cabinet Committee on Economic Affairs (CCEA) has raised the minimum support price (MSP) for rabi crops for the 2025-26 marketing season. The MSP for wheat has increased by ₹150 per quintal.

Daron Acemoglu, Simon Johnson, and James A. Robinson won the Nobel Memorial Prize in Economics. Recognized for their research on differences in prosperity between nations.

The Geographical Indications Registry in Chennai granted GI tags to eight products from Assam

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, is set to launch a digital platform called BHASKAR.

Union Agriculture Minister Shri Shivraj Singh Chouhan Launches AgriSURE Fund

Reserve bank of India will be launching Unified Lending Interface (ULI)

Reserve Bank of India recently announced its Monetary Policy Decision

Food and Consumer Affairs Minister Launches Version 4.0 Price Monitoring System (PMS) Mobile App

According to recent reports, Karnataka sees a potential compound average growth rate (CAGR) of 19% for its biotech industry, and the state’s ‘bio-economy’ is expected to triple to $100 billion by 2030

International Centre for Audit of Local Governance (iCAL) was inaugurated by the Comptroller and Auditor General (CAG) of India in Rajkot.

NITI AAYOG REPORT: “ELECTRONICS: POWERING INDIA’S PARTICIPATION IN GLOBAL VALUE CHAINS”

The government aims to increase NaBFID’s capital base to ₹1 trillion through support from banks.

World Bank Group Guarantee Platform Goes Live

The Government of India is set to launch the ‘Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE) aimed at supporting startups and agripreneurs through innovative financing solutions

The Reserve Bank’s FI-Index rose to 64.2 in March 2024, showing growth across all parameters

Centre Issues Scheme Guidelines for Funding under the National Green Hydrogen Mission

Confederation of Indian Industry (CII) Karnataka Embraces ‘Beyond Bengaluru’ to Boost Sunrise Sectors in FY25

The Reserve Bank of India (RBI) and ASEAN countries have decided to create a platform to facilitate instant cross-border retail payments. Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect FPSs of four ASEAN countries (Malaysia, the Philippines, Singapore, and Thailand); and India, who would be the founding members and first mover countries of this platform

The IMF released an AIPI Dashboard tracking 174 economies globally for AI readiness. Countries categorized into Advanced Economies (AE), Emerging Market Economies (EM), and Low-Income Countries (LIC).

SEBI, India’s markets regulator, announced new regulations affecting financial influencers and delisting processes. The measures aim to curb misleading financial advice and simplify delisting procedures

Miniratna Category-I status granted to Central Electronics Limited (CEL) at its Golden Jubilee celebrations

53rd GST Council Meeting held in New Delhi

The Union Cabinet has increased the Minimum Support Price (MSP) for 14 kharif (summer) crops, which includes paddy.

The Duty Drawback Scheme is an initiative by the Central Board of Indirect Taxes and Customs (CBIC) to facilitate exports and promote economic growth

The Securities and Exchange Board of India (SEBI) has introduced a framework to shield stock prices from the impact of market rumours. This framework aims to maintain fair pricing for transactions such as takeovers, buybacks, and preferential issues.

RBI policy panel kept repo rate unchanged, hiked GDP growth projection

DoT Launches Initiative to Support MSMEs and Startups called Industry 4.0 Transformation

The Bank Clinic is an initiative by the All India Bank Employees’ Association (AIBEA) designed to help customers address their grievances amid rapid technological advancements and numerous Reserve Bank of India (RBI) guidelines on retail banking.

The Reserve Bank of India (RBI) has finalized the ‘Framework for Recognizing Self-Regulatory Organization(s) for the FinTech Sector’ (SRO-FT framework).

RBI Governor recently unveiled three major initiatives of the Reserve Bank, namely the Pravaah portal, the Retail Direct Mobile App and a FinTech Repository

S&P Upgrades India Outlook to ‘Positive’ After a Decade

Data on India’s Trade Deficit in 2023-24 released

To strengthen the existing regulatory framework around long-gestation period financing for projects in infrastructure, non-infrastructure and commercial real estate sectors, the RBI issued draft regulations to administer project financing

PMLA Case Arrests: SC Tightens Rules

The 4th Joint Committee meeting for the review of AITIGA (ASEAN-India Trade in Goods Agreement) was held in Putrajaya, Malaysia

Confederation of Indian Industry (CII) has launched a corporate governance charter for startups, including a self-evaluative scorecard

Groww Mutual Fund recently launched India’s first Nifty Non-Cyclical Consumer Index Fund

Centre launches Integrated Pensioners’ Portal in collaboration with Bank of India, aims to digitalize pension services for the welfare of pensioners

Indian Renewable Energy Development Agency public sector undertaking company was granted ‘Navratna status’ from the department of public enterprises.

Combined Index of Eight Core Industries (ICI) increases by 5.2 per cent (provisional) in March, 2024 as compared to March, 2023

The Insurance Regulatory and Development Authority of India (IRDAI) proposes an all-in-one affordable mass insurance product called Bima Vistaar

RBI’s initiative to release draft guidelines for web aggregation of loan products

The Central Board for Indirect Taxes and Customs (CBIC) recently issued a set of 18 guidelines to department personnel on conducting investigations and enforcement

RBI’s releases Draft Rules for Payment Aggregators (PAs)

NABARD unveils strategy to mobilise green financing

CSIR successfully implements its in-house ‘Accounts Manager Software’ for financial management across CSIR Headquarters and its 37 National Labs

International Monetary Fund (IMF) released the latest global financial stability report

Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell (NASDAQ: HON), in partnership with the Foundation for Science, Innovation and Development (FSID), Indian Institute of Science (IISc), renowned for its cutting-edge deep sciences research, has extended research and financial support to 37 Indian start-ups

The government has recently amended the foreign direct investment (FDI) policy in the space sector, intended to attract offshore investors specifically in satellite manufacturing and satellite launch vehicles segments.

The Asian Development Bank (ADB) raised its projections for India’s economic growth for the current financial year (FY25) to 7%

India has invoked the peace clause at the World Trade Organization (WTO) for the fifth consecutive time due to breaching the prescribed subsidy limit for rice offered to its farmers

India Ratings and Research (Ind-Ra) predicts that Maharashtra, Karnataka, and Gujarat are likely to achieve a $1 trillion economy by FY39 based on their past growth rates. Tamil Nadu is expected to follow suit by FY41

The BBMP introduced a new property tax system aimed at fixing leaks and rationalizing the tax structure

According to recent update , RBI has kept policy rates unchanged

SEBI, the Securities and Exchange Board of India, launched SCORES 2.0, a revamped version of the SEBI Complaint Redress System

The Reserve Bank of India (RBI) is considering establishing a Digital India Trust Agency (DIGITA) as part of its efforts to combat cyber fraud and illegal lending apps

A record 60 traditional products from across India granted GI tag

A report of Per Capita income of states was released by SBI recently

Insurance Regulatory and Development Authority of India (IRDAI) has approved the setting up of Bima Sugam

Grid Controller of India Limited (GRID-INDIA) was conferred with the status of Miniratna Category-I Central Public Sector Enterprise (CPSE)

Starting from January 1, 2024, Indian exporters are required to follow the new rules under DCTS to avail of concessions on their exports to the UK

India signed a free trade agreement (FTA) termed – Trade and Economic Partnership Agreement (TEPA)  – with four European countries — Iceland, Liechtenstein, Norway, and Switzerland

Chhattisgarh’s  Gevra coal mine has been granted environmental clearance to expand production capacity to 70 million tons per annum making it the Largest Coal Mine in Asia

Rupa Tarakasi, Banglar Muslin, Narasapur crochet lace products,  Kutch rogan craft, Ratlam Riyawan Lahsun, Tripura Risa Textile, Hyderabad Lac Bangles, Majuli Mask , Assam Majuli Manuscript Painting, Ambaji White Marble won GI Tag recently

India’s foreign exchange reserves surged by $2.98 billion to $619.07 billion recently

APEDA facilitates India’s first commercial trial shipment of Sangola pomegranates to the US via sea

The Union Cabinet on Wednesday further liberalised the space sector by amending the Foreign Direct Investment norms, permitting an increased flow of foreign capital in areas related to the development and launch of satellites, and creating the ground infrastructure for the same

Reliance Industries Limited (RIL) became the first Indian company to surpass Rs 20 lakh crore in market capitalization

India’s Unified Payment Interface (UPI) services will be rolled out in Sri Lanka and Mauritius

RBI’s policy panel has kept repo rate unchanged at 6.5 per cent

Finance Minister recently rejected the theory that India’s ongoing recovery is ‘K-shaped’

A working group constituted by the Reserve Bank of India (RBI) made certain recommendations to address issues relating to guarantees extended by State governments

4th states’ Start-up Ranking a yearly capacity building exercise by the Department for Promotion of Industry and Internal Trade (DPIIT) released

World Economic Forum annual meet held in Davos

NITI Aayog Vice-Chairman Arvind Panagariya Chairman to head 16th Finance Commission

Ayodhya Ram temple trust gets FCRA licence to receive foreign donations

The central government has eased some of the provisions of the angel tax introduced in this year’s Budget

Insurance Regulatory and Development Authority of India has set up a committee to oversee the creation and development of its Bima Sugam

National payment corporation of India has launched new intiatives at the Global Fintech Festival .

PM Narendra Modi and the President of USA,. Joe Biden co-chaired a Partnership for Global Infrastructure and Investment (PGII) and India-Middle East-Europe Economic Corridor (IMEC), held on the sidelines of the G20 Summit in New Delhi.

RBI to discontinue Incremental Cash Reserve Ratio(I-CRR) in a phased manner

At G20 TechSprint Finale 2023, Reserve Bank of India Governor mooted the idea that CBDCs can make efficient cross border payments

According to a notification by Directorate General of Foreign Trade, India permitted exports of limited quantities of non-basmati white rice to Bhutan, Mauritius and Singapore

Seven products from across India were given GI tag by the Geographical Indications Registry in Chennai.

Centre launched Vivad se Vishwas 2.0 scheme to settle contractual disputes as announced in Union Budget 2023

Bengaluru is all set to host the fifth edition of the World Coffee Conference (WCC 2023).

Economic reforms were announced by Finance minister recently

G20 countries launched the Resource Efficiency Circular Economy Industry Coalition (RECEIC)

The Reserve Bank of India (RBI) has apprised to drive ATM penetration in the country with a greater focus on Tier III to VI cities

Government of India recently appointed new panel for Standing Committee on Statistics (SCoS)

First ever “Credit Guarantee Scheme” for Livestock Sector launched for rebooting rural economy by leveraging MSMEs

India makes presentation on e-Shram, world’s largest database of unorganised workers and National Career Service Portal during 4th G20 EWG meeting in Madhya Pradesh

The Delhi High Court reject PepsiCo India’s patent appeal for its unique Lays’ potato

The Goods and Services Tax (GST) Council, at its 50th meeting to impose 28% tax on online gaming firms

Prime Minister, Narendra Modi has congratulated new home owners in Bengaluru’s first project under SWAMIH Fund

The International Monetary Fund (IMF) issued a statement on the use of cryptocurrency in the Latin American and Caribbean market, and about the rising interest in blockchain-based central bank digital currencies (CBDCs).

Public Sector Banks and eligible Private Sector Banks authorised to implement and operationalise Mahila Samman Savings Certificate, 2023

According to Ministry of finance , India’s gross domestic product (GDP) has touched the $3.75 trillion-mark in 2023, up from around $2 trillion in 2014.

The government announced the MSP for 17 ‘kharif’ crops, like paddy, pulses (moong, arhar, urad), oilseeds like groundnut and soyabean and cotton, for the marketing season of 2023-24.

The Reserve Bank of India (RBI) will soon allow banks to issue RuPay Prepaid Forex cards for use at ATMs, PoS machines and online merchants abroad.

The Insurance Regulatory and Development Authority of India (IRDAI) issued draft guidelines for Bima Vahaks, a new initiative aimed at enhancing insurance inclusion and awareness across the country.

SEBI will soon introduce a new light-touch regulatory framework-‘Mutual Fund Lite’  for passively managed mutual funds like exchange traded funds (ETFs) and index funds, which have seen a sharp uptick in assets under management (AUM) in recent years.

The Reserve Bank of India (RBI) decided to withdraw ₹2,000 denomination banknotes from circulation in pursuance of its “Clean Note Policy”. However, the ₹2,000 notes will continue to be legal tender. A similar withdrawal of notes from circulation was undertaken in 2013-2014.

The Union Cabinet, chaired by the Prime Minister, approved the Production Linked Incentive Scheme 2.0 for IT Hardware with a budgetary outlay Rs. 17,000 crore.

The ‘E-chits’ application was launched in Andhra Pradesh to regulate chit-fund companies and prevent fraud.

The Ministry of Micro, Small and Medium Entreprises, Government of India organised the first meeting of the National MSME Council at Vigyan Bhawan, New Delhi

Karnataka was declared topper in the implementation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme, during a national conference in Chhattisgarh

Apple launched a savings account linked with its Apple Card, which will offer a high annual percentage yield (APY) of 4.15 per cent.

National Stock Exchange (NSE) issued a string of notices naming entities involved in ‘dabba trading’. It cautioned retail investors to not subscribe (or invest) using any of these products offering indicative/assured/guaranteed returns in the stock market as they are prohibited by law

Businesses with turnover of Rs.100 crore and above will have to upload their electronic invoices on the IRP within 7 days of the issue of such invoice with effect from May 1.

National Payments Corporation of India (NPCI), that governs UPI, in a circular issued directly to banks, intimated that they can now levy charges on merchant transactions made through Prepaid Instrument wallets using UPI.

SEBI pushes norms to ensure better disclosures and boost transparency.

SEBI to regulate a framework for index providers, aimed at improving transparency and accountability in governance and administration of the financial benchmarks or indices in the domestic securities market.

Lok Sabha passed Finance Bill, 2023 with 64 amendments, including one that seeks to set up the much-awaited GST Appellate Tribunal (GSTAT).

According to IVCA and Bain & Co.’s new ‘India Venture Capital 2023’ report India accounted for 20 per cent of all venture capital (VC) funding in the APAC region for the first time in 2022, even as the year was defined by a capital market slowdown.

Govt amends anti-money laundering rules, widening the scope of Know Your Customer (KYC) norms to include Politically Exposed Persons (PEPs), non-profit organizations (NPOs) and those dealing in virtual digital assets (VDA) as reporting entities

India’s money laundering laws will apply to trade in cryptocurrencies.

World Bank to lend $1 billion to support India’s health sector.

The National Stock Exchange of India received the final approval from the Securities and Exchange Board of India (SEBI) to set up a Social Stock Exchange (SSE).

India called upon G-20 countries to adopt multilateral action for faster extradition of fugitive economic offenders and recovery of assets, both domestically and abroad.

The Union Home Ministry has suspended the FCRA registration of the Centre for Policy Research (CPR), a Delhi-based think tank for 180 days.

RBI in collaboration with banks, would be launching a pilot project to assess the functioning of a QR-code based coin vending machine.

Supreme Court asked SEBI and the government to produce the existing regulatory framework in place to protect investors from share market volatility after Adani  Group of stock market manipulation and accounting fraud.

20 Russian banks, including Rosbank, Tinkoff Bank, Centro Credit Bank and Credit Bank of Moscow have opened Special Rupee Vostro Accounts (SRVA) with partner banks in India.

India’s real-time retail payment system Unified Payments Interface (UPI), which has allowed for quick digital payments through apps like BharatPe and Paytm, and its equivalent network in Singapore called PayNow, were integrated

With many developing nations facing a triple whammy of rising debt loads, climate change and nature loss, conservationists say the answer could lie with a financial instrument enabling them to tackle all three at once: “debt-for-environment swaps”.

Union Cabinet approves setting up 2 lakh primary agricultural credit societies

Union government hiked the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and aviation turbine fuel (ATF).

In the Union Budget for 2023-24, the government has set a disinvestment target of Rs.51,000 crore, 21% down nearly  from the budget estimate for the current year and also the lowest target in seven years.

National Payments Corporation of India (NPCI) paved the way for international (phone) numbers to be able to transact using UPI

Economic Survey tabled by Finance Minister Nirmala Sitharaman in Parliament

Following are the highlights of  Karnataka  provided by economic survey released by central government

The Union government will soon start off the process to set up the 16th Finance Commission with finance ministry

Stock markets in India concluded its transition to the T+1 settlement regime 

Markets regulator SEBI has launched an information database on municipal bonds as part of efforts to develop the bond markets, an outreach programme on municipal bonds and municipal finance

The Financial Services Institutions Bureau (FSIB), recommended names for the posts of managing directors of Bank of Baroda and Bank of India

Union cabinet approves incentive scheme for banks to promote digital payments

The RBI will issue Sovereign Green Bonds worth Rs 16,000 crore, in two tranches of Rs 8,000 crore each, in the current financial year

ರಾಜ್ಯ ರಾಜಧಾನಿ ಬೆಂಗಳೂರಿನ ಅರಮನೆ ಮೈದಾನದ ತ್ರಿಪುರವಾಸಿನಿಯಲ್ಲಿ ರಾಜ್ಯ ಕೃಷಿ ಇಲಾಖೆ ವತಿಯಿಂದ ಜನವರಿ 20 ರಿಂದ ಮೂರು ದಿನಗಳ ಕಾಲ ಅಂತಾರಾಷ್ಟ್ರೀಯ ಸಿರಿಧಾನ್ಯ ಮೇಳ -2023′ ಹಮ್ಮಿಕೊಳ್ಳಲಾಗಿದೆ.

A majority of four judges on a Constitution Bench of the Supreme Court found no flaw in the Union government’s process to demonetise Rs500 and Rs1,000 banknotes through a Gazette notification issued on November 8, 2016.

Among five States in southern India, Karnataka has the highest operative Kisan Credit Cards (KCCs) issued by cooperative banks, regional rural banks, and commercial banks

The Union government raised the interest rates on eight small savings schemes for the January-to-March quarter of 2023, but left the returns on the popular Public Provident Fund (PPF) unchanged at 7.1%.

Delhi High Court, in the case of Hamdard National Foundation (India) vs Sadar Laboratories Pvt. Ltd, judgment observed that the trademark ‘Rooh Afza’ is prima facie a strong mark requiring a high degree of protection as it has immense goodwill.

Trading volumes in government securities (g-secs) hit a two-year high on Q2 of 2022-2, rising interest rate , with the Finance Ministry terming this a sign of growing market interest in such bonds.

Ladakh got its first ever Geographical Indication (GI) Tag to its Raktsey Karpo Apricot.

The Reserve Bank of India announced to issue next tranche of Sovereign Gold Bonds 2022-23 Series III

The Reserve Bank of India (RBI) raised the policy repo rate by 35 basis points , downshifting gears from consecutive increases of 50 bps, and scaled down GDP growth hopes for the year to 6.8% from 7%, and exuded confidence about the economy being resilient and asserted that “the worst of inflation” was behind

Bengaluru, have largest digital payment transactions in the January to October 2022 period, the highest in the country, according to a study by World line India.

The 1st Sherpa Meeting of India’s G20 Presidency begins in the historic city of Udaipur, Rajasthan

The Reserve Bank of India (RBI) announced that the first pilot for the retail version of the digital Rupee (e-R) would be introduced in December

In a bid to promote commerce and investment between the two regions, India and the Gulf Cooperation Council (GCC) will announce the launch of negotiations for a free trade agreement

India and Australia to implement the free trade agreement as the Australian Parliament approved the pact between the two countries.

The Union government unveiled a framework of standards to curb fake reviews on e-commerce websites. The framework, ‘Indian Standard (IS) 19000:2022’, has been prepared by the Bureau of Indian Standards and will come into effect from November 25.

UN climate summit in Egypt has created history by deciding to establish a fund to address loss and damage to compensate the most vulnerable countries for damages from climate-linked disasters

Union Minister for Finance & Corporate Affairs, chaired the 5th meeting of the Governing Council (GC) of National Investment and Infrastructure Fund (NIIF) about investment opportunities in the economy

 Nine Russian banks open Vostro accounts for rupee trade for import and export activities

 India’s retail inflation eased sharply to 6.77 per cent on an annual basis in the month of October 2022.

 Prime Minister’s Gati Shakti Multimodal Waterways Summit organised by the Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways, Government of India at Varanasi.

The National Financial Reporting Authority (NFRA) has introduced its audit quality inspection guidelines  as a step towards  further  improving the quality of audit profession.

Several of RRB  are now facing an existential crisis due to dwindling business and soaring bad assets.

A three-judge bench of the Supreme Court ruled in the matter where the Employees’ Provident Fund Organisation (EPFO) appealed various orders favouring employees issued by the Kerala, Rajasthan, and Delhi High Courts. The order provided relief to some employees.

The Centre amended the Electoral Bond Scheme to grant itself the power to spell out an extra fortnight of electoral bond sales in years when States and Union Territories with a legislature have polls

Rural areas in Karnataka to get 5-year plans from next fiscal

Karnataka will soon be the flag bearer of the country’s renewable energy sector as it is already the single largest ethanol production hub in Asia, opined an expert panel on energy spoke at Global Investors’ Meet in Bengaluru.

The Reserve Bank’s Monetary Policy Committee (MPC) held a meeting to ‘discuss and draft the report to be sent to the government’ for missing the 2%-6% inflation target mandated by the MPC framework.

Around 83 per cent of the job card holders of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) surveyed in Karnataka have complained that their wages were delayed or pending, a latest report showed.

The BSE has launched electronic gold receipt (EGR) on its platform, a move that will help in efficient and transparent price discovery of the yellow Metal.

 The Prime Minister, Shri Narendra Modi launched Rozgar Mela  the recruitment drive for 10 lakh personnel. During the ceremony, appointment letters were handed over to 75,000 newly inducted appointees

The recent bond offer from the National Highway Infrastructure Trust (NHIT) has led to a lot of curiosity about Infrastructure Investment Trusts or InvIT

In the coffee heartland of Karnataka, comprising the Kodagu, Chikkamagaluru and Hassan districts, coffee saplings were destroyed  by heavy rains between July and September.

Micro, small and medium enterprises will continue to receive non-tax benefits for three years despite moving above the investment and turnover threshold.

Chief Minister Basavaraj Bommai said a vision group would be constituted to draw up an action plan to make the state a $1 trillion economy.

Worried over rising Infant Mortality Rate (IMR) and Maternal Mortality rate (MMR) in Karnataka compared with other states, Chief Minister Basavaraj Bommai directed deputy commissioners and zilla panchayat chief executives to take necessary measures

Prime Minister Narendra Modi dedicated 75 digital banking units (DBU) across 75 districts to the nation via video conferencing.

India ranks 107 out of 121 countries on the Global Hunger Index in which it fares worse than all countries in South Asia barring war-torn Afghanistan. It is Published by Concern Worldwide annually, the report has been jointly prepared by Irish aid agency Concern Worldwide and German organisation Welt Hunger Hilfe.

The Karnataka will soon have the State government-recognised uniform branding for the products of farmer-producer organisations (FPOs) to boost their marketing.

The Reserve Bank said it will soon commence the pilot launch of e-rupee for specific use cases as it tests digital currency in India.

Kerala’s new draft industrial policy promises a host of incentives aimed at attracting investments, promoting employment generation, and fostering entrepreneurship.

The Supreme Court has directed the Centre to increase coverage under the National Food Security Act (NFSA) so that “more and more needy persons and citizens get the benefit” under the 2013 law which entitles rural and urban poor to subsidised foodgrains under the Targeted Public Distribution System.

Expanding further outside India, the indigenously developed real-time payments solution the Unified Payments Interface (UPI) will foray into the United Kingdom market starting with QR code-based transactions.

Government has revived the windfall tax on Aviation Turbine Fuel (ATF) exports at ₹2 per litre, raised the export tax on diesel from ₹5 a litre to ₹7, and slashed the central excise levy on domestically produced crude oil to ₹13,000 per tonne as opposed to ₹17,750 levied a fortnight ago.

Prime Minister Narendra Modi announced that India has achieved its target of blending 10% sugarcane-extracted ethanol in petrol, ahead of schedule. India is one of the world’s biggest oil importing nations.

The Kerala State government launched the Lucky Bill App to encourage consumers to upload invoices in a bid to curb tax evasion

In addition to egg, banana, and shenga chikki in midday meals, the State government now plans to add millets like ragi and jowar to the diet of government and aided schoolchildren.

The new Karnataka Employment Policy, 2022-25, has mandated investors to increase the number of jobs for locals while expanding their industrial units or setting up new industries in the State.

According to the report, India’s population stands at 1.412 billion in 2022, compared to China’s 1.426 billion

On July 4, the Central Consumer Protection Authority (CCPA) announced five guidelines to prevent unfair trade practices and to protect consumer interests regarding the levy of service charges in hotels and restaurants.

The Tamil Nadu State Agricultural Marketing Board and the Chettikulam Small Onion Farmers’ Producer Association, Perambalur, have filed an application seeking Geographical Indications (GI) tag for the Chettikulam small onion.

The Reserve Bank of India (RBI) has put in place a mechanism to facilitate international trade in rupees (INR), with immediate effect. However, banks acting as authorised dealers for such transactions would have to take prior approval from the regulator to facilitate this.

Karnataka has bagged the “Best Performer” award in the DPIIT’s (Department for Promotion of Industry and Internal Trade) State/ Union Territory Startup ranking – 2021.

The third version of GST Prime, an analytical system from National Informatics Centre (NIC) that will help increase tax compliance, was launched in Bengaluru by Chief Minister Basavaraj Bommai.

The SJCE-STEP Startup Technology Business Incubator at Mysuru launched a training programme to give a boost to Startups and innovators.

Hyderabad-based Creasent Handicraft Artisans Welfare Association has filed an application for securing a Geographical Indications tag for lac bangles that are manufactured in the city.

Dutch Disease in economics refers to a phenomenon wherein a country witnesses uneven growth across sectors due to the discovery of natural resources, especially large oil reserves.

Fasal Bhavantar Kawach an Insurance scheme launched to protect chilli farmers in A.P. from price fluctuations

The State government signed two memoranda of understanding (MoUs) with the objective of strengthening the economic activities of women self-help groups (SHGs) and facilitating organic farmers to sell their produce directly to consumers.

The GSER was released in the backdrop of the ongoing London Tech Week 2022, which brings together global governments and corporate leaders, inspirational start-up founders and investors to discuss the power of technology for societies.

India has witnessed the sharpest rise among the Asian economies, with a six-position jump from 43rd to 37th rank on the annual World Competitiveness Index compiled by the Institute for Management Development, largely due to gains in economic performance.

NLC India Ltd., (NLCIL), a Navaratna Public Sector Undertaking (PSU) under the Ministry of Coal has planned to set up a methanol project using lignite with an investment of ₹4,400 crore in Neyveli.

On the eve of the 12th ministerial conference (MC) of the World Trade Organization (WTO) in Geneva, India said it will pitch for “fair, just and transparent discussions and outcome” at the multilateral body, amid persisting differences between the developing and the developed countries on a broad range of contentious issues.

Iran and Venezuela signed a 20-year cooperation plan in Tehran as the two countries, among the world’s top oil producers, grapple with U.S. sanctions that are crippling their exports.

Several West Asian nations including Qatar, Kuwait, Iran, Bahrain, Oman, Iraq, Saudi Arabia and the UAE as well as the 57-nation Organisation of Islamic Cooperation (OIC) and the six-member Gulf Cooperation Council (GCC) took strong exception to the remarks denigrating Islam and the Prophet Muhammed.

  India remained on the US treasury department’s currency “Monitoring List” of major trading partners as Washington placed India along with 11 other major economies that merit close attention to their currency practices and macroeconomic policies.

Fitch Ratings revised India’s outlook from ‘negative’ to ‘stable’ on, June 10, 2022, citing fading downside risks to medium-term growth thanks to a rapid economic recovery and easing of weaknesses in the financial sector.

The World Bank cut India’s economic growth forecast for the current fiscal to 7.5% as rising inflation, supply chain disruptions and geopolitical tensions taper recovery.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) voted unanimously to increase the repo rate by 50 basis points to 4.90% in a bid to slow inflation that it estimates will average 7.5% in the current April-June quarter.

The Union Civil Aviation Minister, has said that the Government of India is exploring the possibility of inviting manufacturers of Electric Vertical Take-off and Landing (eVTOL) aircraft to set up base in India.

The Chilika Lake, Asia’s largest brackish water lagoon, has 176 fishing cats, according to a census conducted by Chilika Development Authority (CDA) in collaboration with The Fishing Cat Project (TFCP).

The West Bengal government has bagged the SKOCH award for ‘ease of doing businesses

Karnataka to set up Fast-Moving Consumer Goods (FMCG) cluster Mummigatti Industrial Area in Dharwad

Foreign Investment Facilitation Portal (FIFP)  completes 5 years

Supreme Court ruled that the Goods and Services Tax Council’s recommendations only had a “persuasive value” and were not binding on the Centre and the state governments

Reserve Bank of India (RBI) hiked lending (repo) rate by 40 basis points to 4.4% at an off-cycle meeting of the Monetary Policy Committee (MPC)

Recently, data from the Centre for Monitoring Indian Economy (CMIE) shows that India’s Labour Force Participation Rate (LFPR) has fallen to just 40% from an already low 47% in 2016

Cabinet approves Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for Kharif Season

Government has urged insurance companies to conduct ‘Fasal Bima Pathshalas’

India Post Payments Bank (IPPB) launched the Fincluvation Platform

NEWS RBI has announced cardless cash withdrawals at ATMs across the country. DETAILS HOW WILL THIS SYSTEM WORK Cardless cash withdrawals are to be authenticated via UPI ATMs are expected to show an option for withdrawing cash using UPI Once a user selects this option, they can input the amount to be withdrawn and a […]

The Reserve Bank of India (RBI) has recently released guidelines for the banks of the country to set up digital banking units (DBUs).

The Supreme Court upheld amendments introducing restrictions in the Foreign Contribution (Regulation) Act (FCRA) while holding that no one has a fundamental or absolute right to receive foreign contributions

Reserve Bank of India (RBI) introduced the Standing Deposit Facility (SDF) as an additional tool for absorbing liquidity

Unemployment rate in the country is decreasing with the economy slowly returning to normal, according to Centre for Monitoring Indian Economy’s data

Reserve Bank of India celebrates its annual establishment day

NEWS India’s projected economic growth for 2022 has been downgraded by over two per cent to 4.6% as per UN Conference on Trade and Development (UNCTAD) report WHAT DID THE REPORT SAY The decrease is attributed to the ongoing war in Ukraine India is expected to face restraints on energy access and prices, reflexes from […]

The KSR Bengaluru Railway Station will market ‘Channapatna toys’ under the ‘One Station, One Product’ (OSOP) scheme

Parliament’s Standing Committee on Rural Development and Panchayati Raj has asked the government to roll back the system of caste-based wages, under which NREGS workers are paid based on whether they belong to a Scheduled Caste, Scheduled Tribe, or Others

Maharashtra has decided to withdraw from the Pradhan Mantri Fasal Bhima Yojana (PMFBY) if changes to it are not carried out

As per RBI recent report, gross NPA have increased in MSME.

NEWS Government of India launched the MSME Innovative Scheme THE SCHEME AIM Guide the MSMEs in developing business ideas into viable business propositions Acts as a hub for innovation activities OTHER DETAILS Provide support through guidance, financial and marketing assistance, technical support, etc. to ensure the scaling up of MSMEs Launched with the combination of […]

NEWS Reserve Bank of India launched a new Unified Payments Interface (UPI) payments solution for feature phone users dubbed ‘UPI123Pay’ DETAILS FEATURES UPI-based service Designed to bring the digital payments platform closer to a significant number of feature phone mobile subscribers in the country Materially improve the options for such users to access UPI, who […]

A Member of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), has been opposing the RBI’s accommodative policy stance

Trade Deficit of India is expected to increase.

Central government to launch the electronic bill (e-Bill) processing system under the Digital India eco-system and ease of doing business

The Indian FMCG industry witnessed a consumption slowdown in urban markets and degrowth in rural areas in 2021 as the sector was hit hard by higher inflation levels forcing companies to go for successive price increases, according to data analytics firm NielsenIQ

The U.S., Europe and several other western nations are moving to exclude Russia from SWIFT

An FIR has been registered against three Mumbai Police officials last week for allegedly threatening Angadias and extorting money from them in south Mumbai

25th Meeting of Financial Stability and Development Council held

India’s retail inflation accelerated past the 6% mark in January to hit 6.01%, breaching the central bank’s tolerance threshold for consumer price inflation for the first time since June 2021.

Addressing first National Start-up day Union Minister Jitendra Singh highlighted that “Purple Revolution” is Jammu & Kashmir’s contribution to “Start-ups India”. It relates to growth of LAVENDER flowers.

58th Foundation Day of the Food Corporation of India celebrated recently.

Vodafone Idea has opted to convert its adjusted gross revenue dues into equity, resulting in the government owning 35.8 per cent of the total outstanding shares of the company.

PFMS Division of Office of Controller General of Accounts (CGA) under Ministry of Finance organized a workshop on Public Finance Management System (PFMS) to generate awareness among the officials on the functioning and achievements of the system at Jaydev Bhawan in Bhubaneswar.

Several States are demanding a continuation of the compensation beyond June 2022

GST Council’s 46th meeting was held recently

India’s Balance of Payments (BoP) position moved to a deficit of $9.6 billion in the quarter ended September (Q2), as widening trade deficit weighed.

The Government of India has notified Sale of Electoral Bonds at Authorised Branches of State Bank of India

The State Government of Goa approved a policy permitting mining companies to export low-grade iron ore, paving the way for resumption of mining activity that has been stalled since 2018.

The total funds disbursed under Rythu Bandhu, Telangana government’s direct benefit transfer scheme for farmers, will soon touch Rs 50,000 crore

Stock markets regulator SEBI recently approved a ceiling on the Initial Public Offering (IPO) proceeds to be used to make unspecified acquisitions.

Success of PMEGP was discussed recently

The Union Home Ministry has refused to renew the FCRA registration of Missionaries of Charity (MoC), a Catholic religious congregation set up by Nobel laureate Mother Teresa due to some adverse inputs

India has imposed anti-dumping duty on Chinese products

The Reserve Bank of India has extended the implementation date of card-on-file (CoF) tokenisation norms by six months.

According to a recent statement issued by RBI, Financial Inclusion has helped monetary policy transmission in India

Securities and Exchange Board of India (SEBI) issued an order suspending futures trading in paddy (non-basmati), wheat, Bengal gram (chana dal), mustard seeds and its derivatives, soyabean and its derivatives, crude palm oil and green gram (moong dal) for a year, in a move believed to stem rising prices.

The Reserve Bank of India announced a Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs), to strengthen applicable supervisory tools.

Wholesale price inflation spikes in India to a record as food, fuel surge

Prime Minister paid deposit insurance to  depositors who could not access their money as their banks faced financial crises

India’s retail inflation  accelerated in Nov. to 5.1%

The Monetary Policy Committee (MPC) of the Reserve Bank of India kept key policy rates unchanged

India finalises cooperation plan to revive Covid-hit Sri Lanka economy

PM inaugurated INFINITY FORUM , a fintech initiative of International Financial Services Centres Authority

BASIC DEFENITIONS OF DIGITAL CURRENCY

In order to increase the share of manufacturing in the overall GDP of the country and for ensuring systematic and planned urbanization, Government of India (GoI) has adopted the strategy of developing integrated Industrial Corridors on the backbone of transport connectivity infrastructure in partnership with State Governments.

The PLI Scheme for Pharmaceuticals is based on the strategy of “Atmanirbhar Bharat- Strategies for enhancing India’s manufacturing capabilities and enhancing exports in ten sectors”, which had been approved by the Union Cabinet

India to release 5 million barrels oil from strategic reserves in coordination with other buyers

5th Foundation Day function of the Indian Institute of Insolvency Professionals of ICAI (IIIPI) was recently celebrated

To promote and attract tourism business, the Indian Railways  launched Bharat Gaurav trains that will be operated by private players and run on theme-based circuits.

India, U.S. commit to linking economies across sectors at recently held Trade Policy Forum meet

National Mineral Development Corporation (NMDC), a public enterprise under Ministry of Steel celebrated its 64th Formation Day

First Audit Diwas is being celebrated on 16 November 2021

Prime Minister launched two customer-centric initiatives of the Reserve Bank of India (RBI) — the RBI Retail Direct Scheme and the Integrated Ombudsman Scheme.

Recently, the Reserve Bank of India (RBI) has announced a revised Prompt Corrective Action (PCA) framework.

The government-backed Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund has announced complete exit from its investment made in CCI Rivali Park Wintergreen project in Mumbai.

The Union Minister of Commerce & Industry reviewed the progress on Open Network for Digital Commerce (ONDC) initiative of DPIIT.

An acute shortage of di-ammonium phosphate (DAP) in Haryana has seen desperate farmers pelting stones at the police, blocking roads in protest, and even resorting to “loot” the fertilizer from a private dealer’s outlet in Mahendragarh district of south Haryana.

New Delhi suggested that the World Trade Organization (WTO) consider ‘escape clause’ for countries, relying on flexibilities in trade agreements, to avoid disputes while tackling the current pandemic and any other in future under TRIPS

Rashtriya Gokul Mission and National Livestock Missions were revamped recently

Prime Minister Gati Shakti National Master Plan has been launched recently

Govt. of India accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC), thus giving PFC greater operational and financial autonomy.

Retail inflation falls to 4.35% in September

The global deal of Minimum tax proposed by OECD has been accepted by 136 countries

The Labor Bureau released the results of the All-India Quarterly Establishment-based Employment Survey (QES) for the first quarter (FQ) of 2021 (April to June).

The Reserve Bank of India (RBI) on Friday said it was halting its bond buying under the G-Sec Acquisition Programme (GSAP) for now, stressing that the measure had succeeded in ensuring adequate liquidity and stabilising financial markets.

The spices growers of Kanniyakumari have obtained the Geographical Indication Tag for the clove being grown in the hilly regions of the district as it is known for its rich aromatic oil content.

The 2nd edition of the Industrial Park Rating System (IPRS) Report was launched by the Ministry of Commerce & Industry

Report By IHS Markit’s survey

The first consignment of Kashmiri walnuts was recently flagged off from Budgam.

40th India International Trade Fair 2021 to be held from November 14-27 at Pragati Maidan, New Delhi

The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Fifth Annual Day

The Ministry of Home Affairs (MHA) has extended the deadline till December 31 for NGOs to apply for renewal of their Foreign Contribution (Regulation) Act (FCRA) registration certificates.

India’s foreign trade policy (FTP) will be extended for six months, till March 31, 2022

According to competition commission of India ” “Cartel includes an association of producers, sellers, distributors, traders or service providers who, by agreement amongst themselves, limit, control or attempt to control the production, distribution, sale or price of, or, trade in goods or provision of services”

The Pension Fund Regulatory and Development Authority (PFRDA) will be observing 1st October 2021 as the National Pension System Diwas (NPS Diwas) to promote pension and retirement planning for a carefree ‘azad’ retirement.

In order to harness the vast export potential of Karnataka, and as a part of the series of programmes being organized by APEDA under the “Aazadi Ka Amrith Mahotsav” celebrations, APEDA Bangalore Regional Office organized an “Exporters Conclave” cum Exhibition in Bangalore

Union Transport minister concluded review on Mumbai-Delhi expressway.

GST council which met recently  has come up with effected several long-pending tweaks in tax rates including an increase in the GST levied on footwear costing less than ₹1,000 as well as readymade garments and fabrics to 12% from 5%.  Petroleum products has not been included under GST

Paving the way for a major clean-up of bad loans in the banking system, the Union Cabinet has cleared a ₹30,600-crore guarantee programme for securities to be issued by the newly incorporated ‘bad bank’ for taking over and resolving non-performing assets (NPAs) amounting to ₹2 lakh crore.

The wholesale price-based inflation (WPI) increased marginally to 11.39 per cent in August 2021 due to higher prices of manufactured goods, even though the prices of food articles softened.

Accessibility of banking and availability of credit

BRICS Bank admits UAE, Bangladesh, Uruguay as new members

Union Finance Minister laid the foundation stone for the office building of the Income Tax Department in Bengaluru.

Equitas Small Finance Bank (SFB) has launched a new initiative that enables Google Pay users to book fixed deposits (FDs) on Google Pay in just 2 minutes without opening a bank account.

The Reserve Bank of India (RBI) is planning to enable international settlement of transactions in government securities (G-secs) through International Central Securities Depositories (ICSDs), to help expand the investor base for the G-secs market

The Union Minister for Agriculture and Farmers Welfare has announced the operationalization of the BRICS Agricultural Research Platform.

According to finance ministry, Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), number of bank accounts have increased to 43 crores with total deposits of Rs 1.46 lakh crore

NITI Aayog has recommended various measures to boost monetization

Fourth edition of Public Sector Bank (PSB) Reforms Agenda.

The Union government has increased the minimum price that sugar mills must pay to sugar cane farmers by ₹5 a quintal, setting the fair and remunerative price (FRP) at ₹290 a quintal for the 2021-22 sugar season, which runs from October to September.

Reserve Bank of India had appointed committee headed by N. S. Vishwanathan to make suggestions on structure for the urban cooperative banks (UCBs)

Finance Minister, unveiled a four-year National Monetisation Pipeline (NMP) scheme

The Reserve Bank of India introduced the financial inclusion index.Financial Inclusion Index has been conceptualised as a comprehensive index comprising the details of banking, insurance, investments, postal and pension sector in consultation with government and sectoral regulators.

Centre has  notified RoDTEP Scheme Guidelines and Rates (Remission of Duties and Taxes on Exported Products).The scheme was announced in 2020 as a replacement for the Merchandise Export from India Scheme (MEIS), which was not compliant with the rules of the World Trade Organisation.

alternative metrics to complement GDP

Interventions that are expected to help revive manufacturing with lower production costs, induce investments and promote technology transfers.

Recently, the Prime Minister has announced a new national initiative on palm oil production to help increase farm incomes. The scheme, called National Edible Oil Mission-Oil Palm (NMEO-OP), for self-reliance in edible oil involves investment of over Rs. 11,000 crore (over a five year period).

India’s total foodgrain production has hit a record high of 308.65 million tonnes (MT) for 2020-21 as the rabi foodgrain output exceeded the target, according to the fourth advance estimate of production released by the Ministry of Agriculture and Farmers’ Welfare

The 5th edition of the National Public Procurement Conclave (NPPC) was recently organized

Central government has set loans disbursement target under PM Mudra Yojana (PMMY) at Rs 3 trillion for financial year 2021-2022.

New Consumer Expenditure Survey (CES) is likely to be conducted in 2021-22

A call for Restructuring National Mineral Exploration Trust (NMET) as Autonomous Body has been done

Inflation is the decline of purchasing power of a given currency over time.

Electronic voucher based digital payment system called “E-RUPI” which is developed by National Payments Corporation of India (NPCI) was launched by PM recently.It is a Cashless and contactless digital payments medium that connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface

The Reserve Bank of India is likely to soon kick off pilot projects to assess the viability of using digital currency to make wholesale and retail payments to help calibrate its strategy for introducing a full-scale central bank digital currency (CBDC).

Voluntary organizations controlled by their farmer-members who actively participate in setting their policies and making decisions.

The Union Cabinet on approved raising the foreign investment limit in privatisation-bound PSU refiners.

The government has launched the Secured Logistics Document Exchange. A Calculator for Green House Gas Emissions has also been launched.

Government of India’s Department of Animal Husbandry & Dairying (DAHD), under its Investment Facilitation Cell, has setup Dairy Investment Accelerator.

The Insolvency and Bankruptcy Code (Amendment) Bill, 2021, passed by Lok Sabha has proposed ‘pre-packs’ as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs).

KASEZ is the First Green SEZ to achieve the IGBC Green Cities Platinum Rating for Existing Cities.

Finance Minister in Parliament said the RBI has announced Special three-year Long-Term Repo Operations (SLTRO) of Rs 10,000 crore at repo rate for the Small Finance Banks (SFBs), to be deployed for fresh lending of up to Rs 10 lakh per borrower to provide further support to small business units, micro and small industries, and other unorganised sector entities adversely affected during the current wave of the pandemic.

161 Income tax day was recently celebrated

As of 25th June, 2021, India has surpassed Japan, China, Russia and Switzerland to become the world’s fifth-largest foreign exchange reserve holder.

Many aquaculture farmers in Andhra Pradesh are planning to update the details of their produce online and market their stocks through e-Santa, an electronic marketplace to export marine products

Government of India has brought to the notice of Parliament a bad bank has been set up with regulations

Inflation has remained above 6%. RBI estimate of inflation for 2021-22 was 5.1%

To  make the post-pandemic recovery more inclusive and sustainable, financial inclusion would continue to be a policy priority , RBI Governor said at The Economic Times Financial Inclusion Summit.

Reserve Bank of India (RBI) issued an advisory to banks and other financial institutions to be prepared for year-end transition from London Interbank Offered Rate (Libor).

Recently, the government has decided not to impose Anti-Dumping Duty (ADD) on imports of certain copper products, from China, Thailand, Korea and three other countries.

The Central Board of Indirect Taxes & Customs (CBIC) has inaugurated the online filing of Authorised Economic Operators (AEO) applications.

Centre has extended usage of Agri-Infra funds to APMC developments

India Industrial Land Bank is gaining popularity.

Agriculture and Farmers Welfare Minister has launched the Crop Insurance Awareness Campaign for Fasal Bima Yojana.

India and majority members of OECD and G20 Inclusive Framework on Base Erosion & Profit Shifting adopted a high-level statement that outlines a consensus solution in a bid to address tax challenges that are arising from digitalisation of economy.

Security and Exchange Board of India (SEBI) has cleared amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 while reviewing regulatory provisions related to independent directors.

NPA is advances which do not earn interest for 90 days and more. Banks make provision for standard, sub-standard, doubtful and loss assets based on age of advance and mortgage value available at different rates. If provision amount is deducted we get Net NPA.

Seeking to enhance transparency in the insolvency process, the Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations.

Quantitative easing (QE) is a massive expansion of the open market operations of a central bank. It is a form of unconventional monetary policy in which a central bank purchases longer-term securities (as well as other types of assets, such as mortgage-backed securities – MBS)  from the open market.

Ministry of tourism has released three draft strategies in order to boost tourism sector in aftermath of covid-19 pandemic. Draft strategies were put forward with roadmaps to promote India as a rural and medical tourism destination.

Retail inflation hit a six-month high of 6.3% in May, owing to a persistent rise in fuel and edible oil prices

Gold hallmarking is a purity certification for precious metal. Presently, gold hallmarking is voluntary. Currently, 40 % of the gold jewellery is being hallmarked.

Department for Promotion of Industry and Internal Trade (DPIIT) has launched a project on Open Network for Digital Commerce (ONDC).

The Union government  extended the subsidy benefits under the amended New Investment Policy 2012 to Ramagundam Fertilisers and Chemicals Ltd (RFCL), located in Telangana.

Dr. K.P. Krishnan committee on “Variable Capital Company” has submitted its report to International Financial Services centres Authority (IFSCA) regarding feasibility of Variable Capital Companies in International Financial Services Centres in India.

The problems that non-governmental organisations (NGOs) and registered organisations are facing due to the strict regulations of the Foreign Contribution (Regulation) Act (FCRA), 2010, are magnified when individuals  attempt to channel international funds into the country.

ECLGS was launched under Atmanirbhar Bharat Abhiyan package in May 2020. It was launched to overcome the distress caused on economy due to lockdown. It helped different sectors by providing credit to them. Credit is provided to them for four years besides one year moratorium period on principled repayment.

The Research Designs & Standards Organisation (RDSO) is an ISO 9001 research and development organisation under the Ministry of Railways of government of India, which functions as a technical adviser and consultant to the Railway Board, the Zonal Railways, the Railway Production Units, RITES, RailTel and Ircon International in respect of design and standardization of railway equipment and problems related to railway construction, operations and maintenance. It is headquartered in Lucknow