RBI announced that NBFCs categorized as Asset Finance Companies (AFC), Loan Companies (LCs) and Investment Companies (ICs), will be merged into a new category called NBFC - Investment and Credit Company (NBFC-ICC).
Max 25% of fund of NBFC-ICC shall be invested in another company.
Commerce Minister launched the SAFAR Mobile App. This app would help to gauge the actual issues faced by transporters on the road. The app tracks the incidence of several parameters faced by transporters and automatically records the location of the issue.
The app is available in 8 languages.
IIFL Home Finance signed an MoU with Maharashtra for capacity building for affordable housing through credit-linked subsidy scheme under Pradhan Mantri Awas Yojana. Through this MoU, IIFL will educate customers & enlighten them about the benefits of PMAY.
Pradhan Mantri Awas Yojana launched in 2015.
Srei Equipment Finance Limited has tied up with Syndicate Bank to provide financing for construction & farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost funds & co-lend equipment loans with Srei at a mutually agreed rate.
Mrutyunjay Mahapatra is the MD & CEO of Syndicate Bank.
Department for Promotion of Industry & Internal Trade released a draft of the e-commerce policy India which proposes to regulate cross border data flows, locating computing facilities within India to ensure job creation & setting up a ‘data authority’.
Minister of State for Commerce and Industry - CR Chaudhary.
Apurvi Chandela has won the gold medal in the women's 10-metre air rifle at the ISSF World Cup 2019. It is India's first medal at the event. She set a new world record by registering a score of 252.9 points in the final.
The tournament will now offer 14 quotas for 2020 Olympic Games.
The Reserve Bank of India and the Bank of Japan have formalized the $75- billion swap agreement, which would act as a cushion against any sharp swings in the local currency whenever the international financial markets turn volatile.
Japan: Currency – Yen; Capital – Tokyo.
Commerce Ministry and the US Trade Representative are in the process of finalizing a trade package to boost the bilateral trade. India's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were USD 26.7 billion.
India is expected to become the third largest economy by 2030.
Nitin Gadkari will lay foundation stones for seven national highway projects worth over ₹ 4419 Cr in Kangra, Himachal Pradesh. The projects are expected to boost tourism, economic and employment opportunities, will also help in reducing travel time.
Himachal Pradesh Governor - Acharya Devvrat.
Central Board of Indirect Taxes and Customs has constituted three working groups to study & recommend measures to facilitate trade, promote exports and improve compliance. CBIC will use advanced data analytics tools for augmenting revenue & curbing frauds.
CBIC chairman - Pranab Kumar Das.