Foreign Trade Policy: FTP policy – 2015-2020
A foreign trade policy provides a set of guidelines that help a country achieve its domestic production and export goals. The Government of India and the Ministry of Commerce and Industry release Foreign Trade Policies (FTP) every five years; the previous FTP (2015-20) came into effect in April 2015. FTP 2015-20 provides a framework for…
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Foreign Trade Policy: FTP-Structural Changes during 1990s
The Foreign Trade Policy (FTP) is a policy framework that defines the government’s strategy for promoting trade and investments in the country. The FTP of India underwent several structural changes during the 1990s, which were crucial for the economic development of the country. The major changes to trade policy in the post-1991 period are a…
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Health Insurance claim: These 20 things Health Policyholders need to know
Updated and reposted on 14.06.2024 The master circular on Health Insurance products repeals 55 circulars issued earlier and is a significant stride towards reinforcing the empowerment of policyholders and bolstering inclusive health insurance, Irdai said in a statement. IRDAI has issued several new guidelines in 2024, making health insurance more inclusive for all. Important guidelines…
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RBI redefines Payment aggregators scope and KYC compliance
The Reserve Bank of India on Tuesday came out with draft guidelines to further strengthen regulations on payment aggregators, a move aimed at boosting the payment ecosystem. The payments ecosystem in India includes online Payment Aggregators (PA-Os) and Physical Payment Aggregators (PA-P) that cover Point of Sales business, which facilitate face-to-face/proximity payment transactions. For ease…
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Economic transformation: Global Economy and Economic Reforms in India.
Global economic integration involves agreements between countries that usually include the elimination of trade barriers and aligning monetary and fiscal policies, leading to a more inter-connected global economy. Globalization provides easy access to foreign resources, including labour markets, to maximize returns and benefit the common good. The capital moved between two or more places, commodities…
RBI mandates lenders to provide Key Facts Statement (KFS) to borrowers
In a statement on Monday, the RBI said it has been decided to harmonise the instructions on KFS for loans and advances. “This is being done to enhance transparency and reduce information asymmetry on financial products being offered by different regulated entities, thereby empowering borrowers to make an informed financial decision,” the RBI said. Key…
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