China-Pakistan Economic Corridor (CPEC) got media attention on the 21st of December, 2016, when amid escalating tensions between the two nuclear-armed neighbors, Pakistan’s Lieutenant General Aamir Riaz, Commander of the Southern Command which is based in Quetta, while speaking at an award distribution ceremony at the Balochistan Frontier Corps (FC) headquarters, said that India shou...
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Category: Economy
RBI Allows Banks to Raise Masala Bonds to Augment Their Capital
Reserve Bank of India, as part of a broader plan to develop the corporate bond markets, has allowed banks to raise rupee denominated bonds in the overseas markets to mobilise additional Tier I capital and Tier 2 capital. Banks can also issue such bonds for financing infrastructure and affordable housing. Such bonds, also known as Masala Bonds, allow entities to raise funds overseas...
BSE & NSE International Exchanges Start Operations at GIFT City
Gujarat International Finance Tec-City (GIFT), a global financial hub, has recently opened for business as India's International Financial Service Centre (IFSC). IFSC essentially caters to customers outside the jurisdiction of the host domestic economy, dealing with flows of financial products and services to and from the host economy with foreign entities. Gift City is emerging as...
Bitcoin Gain Currency with Demonetisation of High Denomination Notes
Bitcoin the cryptocurrency has reportedly hit highest levels, trading at a two-year high of $788.49 or Rs. 53,210 per bitcoin, the price had surged above Rs. 68,000 a unit after India sparked a cash crunch as a consequences of Prime Minister Narendra Modi’s major assault on black (untaxed) money, fake currency and corruption with sudden announcement of d...
Sabka Saath, Sabka Vikas
Sabka Saath, Sabka Vikas, Prime Minister Narendra Modi’s slogan is a Government of India policy initiative for inclusive development. Inclusive development is necessary for sustainable development and equitable distribution of wealth and prosperity. Poverty Reduction; Employment Generation; Development of I...
Public Financial Management System to provide efficient & effective tracking of fund flow and save interest expense
Government of India will roll out Public Financial Management System (PFMS) from the next Financial Year beginning April 01, 2017, with the primary objective to establish an efficient fund flow system and expenditure network. PFMS provides various stakeholders with a reliable and meaningful management information system and an effective decision support system. PFMS platform compiles, collates and makes availab...
New Development Bank will reduce costs & share knowledge
New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is one area where the BRICS nations have moved quickly and successfully. NDB is a multilateral development bank established by the BRICS, an association of five leading developing economies of Brazil, Russia, India, China and South Afri...
Monetary Policy Committee to Maintain Price Stability with Growth
Monetary Policy Committee (MPC) has been set up, consequent to the the Monetary Policy Framework Agreement signed on 20 February 2015 between Government of India and Reserve Bank of India (RBI), the country’s Central Bank, to task RBI with the responsibility for price stability and inflation targeting. This MPC replaces the system where the RBI governor, with the aid and advice of his internal team and a technic...
Real Estate Regulatory Authority to Protect Home Buyers & Provide Transparency
The Government of India has recently notified the final rules to implement the Real Estate (Regulation and Development) Act, 2016 (RERA) that aims to bring transparency and set accountability in the sector and help in completion of stalled projects. This Act of the Parliament that came into force from 1 May, 2016, touted as a key reform measure in the vast real estate sector, will help regulate ...
Taxation Laws (second) Amendment, 2016 Gives one More Chance to Come Clean
The Taxation Laws (Second) Amendment Bill, 2016, passed by Lok Sabha on 29 November, 2016, will provide certainty to taxation for voluntary compliance and avoiding litigation of deposits in bank accounts post-demonetisation of high denomination notes. The government did this following “concerns that some existing provisions of the Income-tax Act, 1961 could possibly be used for concealing black money.” One more ...