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GS-III

‘Financial system has surplus liquidity’

Repo transmission taking 2-3 months against the 6 months earlier, says Das The financial system is “hugely surplus” with liquidity, Reserve Bank of India Governor Shaktikanta Das said on Monday, adding that this would facilitate better transmission of rate cuts implemented by the central bank. “You have to keep in …

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SEBI gets teeth to probe new-age cases

It can fine up to Rs. 10 cr. if a person tampers with information to obstruct probe, destroy data The Finance Bill, 2019 has given the Securities and Exchange Board of India (SEBI) new powers to act against entities that tamper or destroy electronic databases or fail to furnish information …

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Stocks crash on budget, global cues

Surcharge on high income group, strong U.S. jobs data lowering prospects of Fed rate cut dampeners The first trading session of the equity markets after the Union Budget saw stocks in a free-fall mode on Monday as a mix of global factors and domestic concerns emanating from some of the …

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SC to hear plea against Maratha quota

The Supreme Court on Monday agreed to urgently hear a petition filed by an NGO against a Bombay High Court order, which upheld the reservation provided to the Maratha community in education and government jobs in Maharashtra. Chief Justice of India Ranjan Gogoi, responding to an oral mentioning, scheduled for …

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INS seeks waiver of duty on newsprint

The Indian Newspaper Society (INS) has requested the Centre to withdraw the 10% customs duty imposed on newsprint, uncoated paper used for printing of newspapers and lightweight papers used in magazines. In a statement, INS said on Monday that newspapers and magazines were already reeling under severe financial pressure due …

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Govt. in a spot over forced eviction of refugee

“As directed by the Centre, we repatriated the Myanmar nationals who illegally entered India,” Mizoram Home Secretary Lalbiakzama, toldThe Hindu. On July 2, as many as 219 refugees from Chin in Myanmar, living in a camp at Hmawngbuchhua in Mizoram’s Lawngtlai district since 2017, were handed over to the Myanmar …

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