WHAT RBI’S RS 50,000 CRORE BOOST MEANS FOR MUTUAL FUNDS?
Why in news? The Reserve Bank of India (RBI) on 27th April, 2020 announced a special liquidity window of Rs 50, 000 crore to bail out mutual funds hit by the turmoil in the debt fund segment that led to the closure of six credit risk funds by Franklin Templeton Mutual Fund. How will liquidity window […]
TEN STEPS WHILE RESTARTING THE ECONOMIC ENGINE
The recommended Ten Steps: Any calibrated approach to ‘restarting the economy’ should include the following 10 steps: 1. Relax the fiscal deficit target: Stretching the deficit target to release money which can be used for well-directed income transfers and food support, facilitate business disruption loans by offering guarantee to commercial banks, soften the blow to […]
SEBI SURVEILLANCE TILL MAY 28
Why in news? The tightened surveillance measures for stock markets, introduced on March 23 for a period of one month, have been extended until May 28. In a statement on 21st April, the Securities and Exchange Board of India (SEBI) said the stock markets are expected to remain volatile in the near future on account of […]
ADDITIONAL TRADE BARRIERS VIOLATE WTO’S PRINCIPLE
Why in news? India’s recently adopted policy to curb opportunistic takeovers of domestic companies goes against the principles of the World Trade Organisation (WTO), the spokesperson of the Chinese Embassy in India said on 20th April 2020. This is the first response from the Chinese side after the Ministry of Commerce and Industry in an April […]
PANDEMIC WILL DEEPEN JOB AND LIVELIHOOD CRISIS OF MIGRANTS
Why in news? Migrant workers, who constitute about 50% of the urban population and many of whom are engaged in what are called “3D jobs” (dirty, dangerous and demeaning) are likely to face job and livelihood crisis owing to COVID-19 pandemic, according to findings of a research. Details of how grave the situation is? The […]
CENTRE SHOULD ACT NOW ON FRANKLIN TEMPLETON ISSUE
Why in news? The government was urged to act swiftly, before the markets reopen on 27th April, to resolve the situation created by Franklin Templeton Mutual Fund’s decision to wind up six debt schemes. Background about the Franklin Templeton crisis Franklin Templeton Mutual Fund’s decision to wind up six debt schemes is a matter of grave […]
NO PLAN TO EASE FISCAL DEFICIT TARGETS
Why in news? Despite the strain on government finances due to the COVID-19 pandemic, there is no credible proposal to amend the legislation meant to control the fiscal deficit, Chairman of the 15th Finance Commission said. Speaking to presspersons after a two-day meeting of the Commission’s Economic Advisory Council said the government was currently looking […]
RBI TO RESTART OPERATION TWIST TO MANAGE YIELDS
Why in news? The Reserve Bank of India (RBI) has announced simultaneous purchase and sale of government bonds in a bid to soften long-term yields. The central bank will buy ₹10,000 crore of bonds maturing between 2026 and 2030 and sell the same number of T-bills. Details On a review of current and evolving liquidity […]
ITAT HOLDS HEARING THROUGH VIDEO CONFERENCING
Why in news? A division bench of the Income Tax Appellate Tribunal (ITAT) through web-based video conferencing platform, heard and disposed of an urgent stay petition on 24th April 2020. It was the first time ever that hearing was done through video conferencing. The ITAT benches based in 27 locations are equipped to hold similar hearings […]
15TH FINANCE COMMISSION HOLDS MEETING WITH ITS ADVISORY COUNCIL
Why in news? The Fifteenth Finance Commission (XVFC) had online meetings with its Advisory Council on 23-24 April, 2020 and discussed various issues confronting the Commission now. What transpired in the meeting? In the meeting all of them were unanimous to suggest that the projections of real GDP growth made before March 2020 need to […]