DAILY GK 25 - 26 FEB
1.
INTEREST
EQUALIZATION SCHEME EXTENDED TILL JUNE 2024
·
The Reserve Bank of
India (RBI) announced that
the Interest Equalization Scheme (IES) for Pre and Post-Shipment
Rupee Export Credit was extended by the Government of India (GoI) till 30th June 2024 with an additional allocation of Rs. 2500 crores.
·
The
Rate of Interest Equalization is for the
Manufacturers and Merchant Exporters exporting under 410 Harmonized
System (HS) lines, the interest equalization rate will be
at 2%.
·
Micro,
Small & Medium Enterprises (MSME) manufacturers,
exporting under any HS line, the interest
equalization rate will be at 3%.
·
Cap
on Subvention Amount: The annual net
subvention amount is already limited to Rs.10 Crores per Importer-Exporter
Code (IEC) in a given
financial year with effect from 01st April 2023.
2.
16th
TRILATERAL COAST GUARD EXERCISE “DOSTI 16”
· The
Indian Coast Guard (ICG), the Sri Lankan
Navy (SLN), and the Maldives National Defense Force (MNDF) are jointly conducting the 16th edition of the biennial trilateral Coast Guard exercise named ‘Dosti-16’
in the Male, Maldives.
· DOSTI exercise was
initiated between the coast guards of Maldives and India in 1991 and included
Sri Lanka since 2012.
3.
ICA’S
WORLD COOPERATIVE MONITOR 2023
·
According to the International Cooperative Alliance (ICA)’s 2023
edition of the World Cooperative Monitor (WCM) report, India’s Indian Farmers Fertiliser
Cooperative (IFFCO) Limited has topped the Top 300 Cooperatives ranking based
on the ratio of turnover over GDP(gross
domestic product) per capita under the Agriculture and Food Industries section.
·
India’s Gujarat
Cooperative Milk Marketing Federation Limited(AMUL) has been ranked 2nd followed
by France’s GroupeCréditAgricole at 3rd.
·
IFFCO has
been ranked 72nd in
ranking of Top 300 Largest
Cooperative and Mutual Organisations based on Turnover.
·
Nonghyup(National
Agricultural Cooperative Federation – NACF) of South Korea topped in world
4.
RBI
ALLOWS BANKS, NON-BANKS TO ISSUE PPIS TO COMMUTERS FOR PUBLIC TRANSPORT
·
Reserve Bank of India
(RBI) amended the Master Direction on Prepaid
Payment Instruments (PPI) to permit authorised bank and non-bank PPI
issuers to issue PPIs for making
payments across various public transport systems.
·
This aims to offer
convenience, speed, affordability, and safety of digital modes of payment to
commuters using the public transport systems like metro, buses, rail,
waterways, tolls, and parking.
·
PPIs are instruments
that facilitate purchase of goods and services, conduct of financial services,
enable remittance facilities, etc., against the value stored therein. It
can be issued by banks and non-banks.
5.
EX-LOK SABHA
SPEAKER MANOHAR JOSHI PASSED AWAY
·
Manohar
Joshi, a former Chief Minister (CM) of Maharashtra & former Speaker
of LokSabha, passed away at the age of 86 in Mumbai, Maharashtra.
·
He served as CM of
Maharashtra from 1995 to 1999. He was the first leader from the undivided Shiv
Sena to occupy the CM post in Maharashtra.
6.
CENTRAL
EXCISE DAY 2024- FEBRUARY 24
·
The Central Excise Day is annually
observed across India on 24 February to recognise and
highlight the contributions of the Central Board of Indirect Taxes and Customs
(CBIC), which is responsible for
administering indirect taxes in India.
·
The day also
commemorates the anniversary of the enactment of the Central Excise and Salt
Act, 1944 on 24 February 1944.
·
CBIC
It is the administrative authority for
its subordinate organizations, including Custom Houses, Central Excise and
Central Goods and Service Tax (GST) Commissionerates, and the Central Revenues
Control Laboratory.
