BharatQR code, the world's first interoperable payment acceptance solution, has been launched by Government of India on February 20, 2017, as part of its efforts to move towards less-cash economy, at an insignificant cost. Bharat QR code, developed jointly by National Payments Corporation of India (NPCI), Visa, MasterCard and American Express under instructions from Reserve Bank of India (RBI), ...
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Category: Economy
With Robust Intellectual Property Rights Policy India may Lead Knowledge-based Economies
“Creative India - Innovative India: रचनात्मक भारत; अभिनव भारत”, is what the National Intellectual Property Rights (IPR) Policy, endeavours to do, and to channelize the abundant creative and innovative energies that flow in India, towards a better and brighter fu...
Modified SPV could be Devised to Attract Foreign Investment
Non Resident Indian (NRI) entrepreneurs planning to invest money in India admire the vision of the Prime Minister Narendra Modi and have termed his decisions such as Make in India, Digital India, Swachh Bharat as excellent ideas; but are not satisfied with the implementation of its policies. They are fed up with the same process of filing applications and approaching different mini...
Council for Trade Development and Promotion ties up with States to Boost Exports
Council for Trade Development and Promotion was constituted by Government of India in 2015 in order to ensure a continuous dialogue with State Governments and UTs on measures for providing an International trade enabling environment in the States and to create a framework for making the States active partners in boosting India’s exports; with Union Commerce & Industry Minister ...
Financial Data Management Centre to Maintain Confidentiality of Data
A Financial Data Management Centre (FDMC) is to be created as a statutory body as recommended by the Financial Sector Legislative Reforms Commission (FSLRC). FDMC will be a repository of all financial regulatory data, to enable standardization of Data across the financial sector and providing analytical support to Financial Stability and Development Council (FSDC) on issues related...
Government Taking Initiatives to Resolve Stressed Assets of Banks
With a view to widen the process of resolving bad loans, government has asked all Public Sector Banks (PSBs) to approach the two member overseeing committee, consisting of Janki Ballabh, former Chairman of State Bank of India & Pradeep Kumar, former Chief Vigilance Commissioner, set up by Indian Banks’ Association in consultation with Reserve Bank of India (RBI...
Financial System Remains Stable despite Deterioration in Asset Quality & Low Profitability
Financial Stability Report (FSR) released by Reserve Bank of India (RBI) on December 29, 2016 gives an assessment of risks to financial stability as also the resilience of the financial system and confirms that overall; India’s financial system remains stable although banks continue to face significant levels of stress. FSR highlights that with reduced poli...
Trends in Banking Progress to Financial Inclusion
The statutory Report on Trend and Progress of Banking in India 2015-16 (RTP) has been released on December 29, 2016 by Reserve Bank of India (RBI). RTP presents performance and salient policy measures relating to the banking sector during the financial year 2015-16. RTP states that RBI, in pursuance of the long-term vision of developing a sound, competitive, inclusive and customer-friendly banki...
Exchange Rate Appreciation Boosts Domestic Economic Activity as Against the Belief of Exporters
A new research, by Jonathan Kearns and Nikhil Patel, economists of the Bank for International Settlements (BIS), concludes that a cheaper currency does not always boost economic growth. The research is based on a sample of twenty two emerging markets besides almost the same number of advanced economies to gauge the effect of changes in the ...
Credit Enhancement to Reduce Cost of Financing Infrastructure by Improving Credit Profiles
India Infrastructure Finance Company Ltd (IIFCL) is working on modalities for a Rs.10000 crore dedicated fund to provide credit enhancement for commercially viable infrastructure projects. This fund will give a boost to massive investment required for India’s infrastructure. This fund, through unconditional and irrevocable partial credit guarantee, will help enhance the credit ...