Ø Aimed
Audience – General news readers, CA students
•
16 of 22
public sector banks skipped paying dividends to Government in 2015-16 due to
mounting NPA
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New GST
law requires, E-commerce giants Flipkart and Snapdeal will have to deduct 2% TCS
while making payments to their suppliers
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Airtel
launched India's First Payments Bank services (in name of Airtel Payment Bank
Limited) in Rajasthan.
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Akodara
village in Sabarkantha district of Gujarat became India's first digital village.
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PM
Narendra Modi announced demonetization of currently circulated notes of 500 and
1000 denominations.
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Cabinet
Committee on Economic Affairs (CCEA) hiked Minimum Support Price (MSP) of wheat
and pulses to boost output of these rabi crops
•
Bank of
America (BofA) lowered India’s economic growth estimates by 30 basis points to
7.1 % for the current fiscal after demonetization.
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Central
Board of Direct Taxes (CBDT) signed 3 Bilateral Advance Pricing Agreements
(APAs) with United Kingdom (UK), The total number of APAs signed [both-
bilateral and unilateral] so far is 111 including this.
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Central
Board of Excise and Customs (CBEC) extended duty drawback facility on all
textile products for 1 year to boost exports.
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Competition
Commission of India approved amalgamation of Bharatiya Mahila Bank (BMB) into
State Bank of India (SBI).
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Central
Board of Excise and Customs (CBEC) extended duty drawback facility on all
textile products for 1 year to boost exports.
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GST
Council finalised 4 tier Goods and Services Tax (GST) rate structure with a
multiple-slab rates. GST will be levied at multiple rates ranging from 0% to
28%.
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Government
allowed National Bank for Agriculture and Rural Development (NABARD) to
disburse Rs 21,000 crore to help farmers to sow Rabi crops.
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Government
announced that it will present Union Budget 2017 - 18 on February 1 .
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Government
has set up target of increasing LPG coverage to 75% by 2019.
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Gross
non-performing assets (NPAs) of Public sector banks (PSBs) rose to 6,30,323
crore as against 5,50,346 crore in June 2016, showing 14.5 % increase in a
quarter.
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India’s
GDP grew at 7.3% in 2nd quarter of 2016-17.
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India’s
first banking robot Lakshmi launched by Kumbakonam-based City Union Bank (CUB)
in Chennai (Tamil Nadu). Lakshmi will be first on-site huamanoid (robot) in
India.
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National
Highways Authority of India (NHAI) reduced rate of interest for long term
Capital Gain Tax Exemption Bonds (u/s 54EC of Income Tax Act 1961) to 5.25%,
from 6
•
PM
Narendra Modi launched Pradhan Mantri Gramin Awas Yojana (PMAY-G), flagship
housing for all scheme Under PMAY-G, Government aims to provide
affordable and safe houses to every rural household living below poverty line
by 2022..
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Taxation
Laws (Second Amendment) Bill 2016 passed in Lok Sabha. Scheme namely Taxation and Investment Regime
for Pradhan Mantri Garib Kalyan Yojana 2016 proposed in the Bill, That allows
people to deposit undisclosed money in their accounts till April 1, 2017.
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