RBI relaxes hedging norms for ECBs from 100% currently to 70%

  • The Reserve Bank has relaxed norms for External Commercial Borrowings (ECBs).
  • The RBI has reduced the mandatory hedging provision to 70% from the current 100%.
  • The relaxed norms will apply to the ECBs with a maturity period between 3 and 5 years.

India-China amend double taxation avoidance treaty

  • India and China have signed a protocol to amend the Double Taxation Avoidance Agreement (DTAA).
  • The Agreement is to avoid double taxation and prevent fiscal evasion with respect to taxes on income.
  • The amendment has updated the existing provisions for exchange of information to the latest international standards.

Govt launches Paisa portal for affordable credit and interest subvention under DAY-NULM

  • The government has launched a centralized electronic platform for processing interest subvention on bank loans to beneficiaries.
  • The platform is named PAiSA – Portal for Affordable Credit and Interest Subvention Access.
  • It has been launched under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).
  • The aim of the PAiSA platform is to connect directly with the beneficiaries, ensuring that there is greater transparency and efficiency in delivery of services.

Nageshwara Rao Guntur appointed Atomic Energy Regulatory Board chief

  • Scientist Nageshwara Rao Guntur has been appointed as chairperson of the Atomic Energy Regulatory Board (AERB).
  • Guntur is the chairman of Project Design Safety Committee, Prototype Fast Breeder Reactor.
  • His appointment as the AERB chairperson will be for three years.

WhatsApp business head Neeraj Arora resigns

  • WhatsApp’s Chief Business Officer Neeraj Arora has resigned after 7-years at the company.
  • Arora was considered in pole position to be promoted to CEO, but the company recently appointed Abhijit Bose as its India head.

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