IT-based mechanism to track all transactions
Government is planning to set up an information technology (IT)based mechanism to keep a tab on all noncash financial transactions in the country.
PSU banks to raise Rs.50,000 cr.
· Public sector banks are planning to tap the markets to raise more than Rs 50,000 crore this fiscal to shore up their capital base for business growth and meeting regulatory global risk norms.
Comments Invited for Creation of National Health Stack
India today is witnessing significant trends in health: increasing prevalence of non communicable diseases for instance, as well as marked demographic shifts. Climbing out of- pocket costs is becoming difficult for most households.
Decline in Forex reserves
As per the biannual report of RBI on exchange management, the adequacy of foreign exchange reserves, measured by import cover, declined to 10.8 months in December 2017, from 11.3 months at the end of March 2017.
Strain on Commercial Vehicles
According to Fitch Ratings, rising fuel prices could strain India’s commercial vehicle operators and lead to a rise in auto loan delinquencies,.
Rupee sinks to record closing low
The rupee slumped to its lowest ever close as it weakened further against the dollar to end at 68.95.
Create leprosy awareness: SC
The Supreme Court today asked the Centre, states and union territories to undertake a campaign to make people aware about the curability of leprosy so that those suffering from it do not face discrimination.
Why in the news ?
Services PMI rose to 52.6
After a marginal contraction in May, the services sector registered the fastest rate of expansion in a year, supported by a robust increase in new business orders, a monthly survey showed.
Cabinet approves accession to WIPO Copyright Treaty
The Union Cabinet has approved the proposal submitted by Department of Industrial Policy and Promotion, Ministry of Commerce and Industry regarding accession to the WIPO Copyright Treaty(WCT) and WIPO Performers and Phonograms Treaty(WPPT).
Government open to discuss RBI’s power concerns
During an industry event, Finance Minister said the government is open to discuss the issues that the Reserve Bank of India (RBI) had raised recently over the lack of powers in regulating state-run lenders.