The Reserve Bank of India (RBI) has allowed state-owned oil companies to borrow long term working capital from overseas. It eventually relaxed the policy on borrowing up to 10 billion US dollar from the overseas by the state-owned fuel retailers.
RBI is a member bank of the Asian Clearing Union
The Assam state assembly has passed an amendment in the GST Act by exempting GST registration for companies having up to 20 lakh rupees turnover per annum. It also broadened the ambit of composition from present 75 lakh rupees to 1.5 crore rupees.
GSTN developed by Infosys Technologies
The International Court of Justice (ICJ) has ordered the US to ease sanctions it re-imposed on Iran after abandoning a nuclear deal. The Court ruled that the US had to remove "any impediments" to the export of humanitarian goods, food, and medicines.
ICJ located at The Hague, Netherland
European Union ratified the Marrakesh accord to ease access to reading material for people who are print-disabled. The coverage of the 2013 United Nations treaty now expands to 70 countries across the globe. It will help eye-disabled globally.
India signed Marrakesh accord in 2014
Cabinet Committee on Economic Affairs, CCEA, has increased the Minimum Support Price (MSP) for all Rabi crops for the current financial year which will be marketed in 2019-20 season. MSP of wheat increased by Rs.105 per quintal.
Major rabi crop in India -Wheat.
PayPal, a global technology platform and digital payments leader, announced the launch of its first merchant-focused App in India, PayPal for Business. It will help small/medium merchants and freelancers.
PayPal has 17 million merchant accounts globally.
A Japanese probe launched a new observation robot towards an asteroid to shed light on the origins of the solar system. The Hayabusa2 probe launched the French-German Mobile Asteroid Surface Scout, or MASCOT, towards the Ryugu asteroid’s surface.
Japan Aerospace Exploration Agency (JAXA) established in 2003.
A series of flight trials of Astra Beyond Visual Range Air-to-Air Missile (BVR-AAM) was completed successfully by IAF. DRDO has developed the missile and integrated the weapon on Su-30 and other air platforms. It is expected to be inducted in 2019.
Airforce day celebrated on 8th October every year.
Asian Development Bank (ADB) and Government of India signed a $150 million loan agreement to establish a Global Skills Park (GSP) in Madhya Pradesh i.e. first Multi-Skills Park in India, to enhance the quality of technical and vocational education.
First Skill University of India is in Rajasthan
Gross direct tax collection has increased by 16.7 percent higher at 5.47 lakh crore rupees compared to previous year. Net collections increased by 14 percent to 4.44 lakh crore rupees. An amount of 2.10 lakh crore has been collected as Advance Tax.
Union Finance Minister is Arun Jaitley.