Recently, the Reserve Bank of India (RBI) published a discussion paper on “loan loss provision”. This paper proposed a framework for adopting an expected loss (EL)-based approach for provisioning by banks in case of loan defaults. Presently, banks are required to make loan loss provisions based on an incurred loss approach.   What is loan-loss… Continue reading Loan-Loss Provisions

Recently, Union minister Ashwini Vaishnaw addressed a session on India’s road to a $10-trillion economy at the World Economic Forum (WEF) in Davos. The annual meeting of WEF is taking place in Davos from January 16th until January 20th, 2023. The theme of this year’s summit is “Cooperation in a Fragmented World”.   India’s participation… Continue reading World Economic Forum

The Ministry of Corporate Affairs (MCA) has proposed sweeping changes to the Insolvency and Bankruptcy Code. The Ministry aims to bring more technology, transparency, and speediness to the corporate insolvency resolution process.   Proposed changes – The Ministry of Corporate Affairs (MCA) has proposed sweeping changes to the Insolvency and Bankruptcy Code. The draft proposal… Continue reading Insolvency and Bankruptcy Code

The Supreme Court has recently reserved its order on an interim plea by fishermen using purse seine nets to be allowed to operate in waters beyond the 12-nautical-mile limit off Tamil Nadu’s coast.   About the ‘territorial waters’ – Territorial waters, under the United Nations Convention on the Law of the Sea (UNCLOS), is that… Continue reading Territorial Waters

Spot Bellied Eagle Owl was recently spotted in Seshachalam forest of Andhra Pradesh for the first time.   About ‘Spot Bellied Eagle Owl’ – Scientific name — Bubo nipalensis Spot Bellied Eagle Owl is also known as the forest eagle-owl. They are large, very powerful and bold predatory birds. It measures about 50 to 65… Continue reading Spot Bellied Eagle Owl

The Forest Advisory Committee (FAC) has recently asked the Arunachal Pradesh Government to review the Etalin hydropower project.   Details – The FAC has recently asked the Arunachal Pradesh government to file a fresh proposal for forest diversion and the construction of the Etalin hydroelectric project (EHEP) due to non-compliance to conditions stipulated by the… Continue reading Etalin Hydropower Project

Scientists recently found that checking sand mining in Dongting lake in China can help the rebounding of the population of the Yangtze finless porpoise.   Details – Previous reports had shown the porpoise were pushed out of certain stretches of their habitat due to sand mining. The Chinese government announced a crackdown on illegal sand… Continue reading Yangtze Finless Porpoise

Recently, the Securities and Exchange Board of India (SEBI) gave details of a proposed framework for shifting to a new payments system for secondary market trades.   What is Application Supported by Blocked Amount (ASBA)? This process is developed by SEBI to apply for IPOs, Rights and Debts Issues, FPS and more. It entails that… Continue reading ASBA

Birders and ornithologists recently in the State of Kerala spotted a migratory bird the Sedge Warbler.   About ‘Sedge Warbler’ – The sedge warbler is a medium-sized warbler of marshes, reedbeds and wetlands that can be spotted singing from perches on reeds and willow bushes. The male sedge warbler introduces random phrases into its repertoire… Continue reading Sedge Warbler

Recently, the directorate general of foreign trade (DGFT) simplifies the composition fee for export obligation extension under the advance authorisation scheme.   About the Advance authorisation scheme – An advance authorisation scheme allows duty-free import of inputs, which have to be mandatorily used in products that are required to be exported within a specified time.… Continue reading Advance Authorisation Scheme