The Indian Government has discontinued the use of old Rs 500 and Rs. 1000 notes. In other words, the legal tender character of the notes in these denominations stands withdrawn. This decision became effective from the midnight of 8th November 2016. Furthermore, the Government will introduce new notes in Rs 500, Rs. 1000 and Rs. 2000 denominations.
On 22 January 2015, the Prime Minister Narendra Modi launched a special deposit scheme known as the Sukanya Samriddhi Yojana. Under this scheme, the natural or legal guardian of a girl child can open an account in her name and avail certain benefits. The objective of the scheme is to alleviate the worries of Indian parents …
In 2016, the Cabinet advanced the date of presentation of the Union budget by a month. This article details the pros and cons of Advancing Budget Date [You may also read: What is Union Budget of India? How is it prepared?] Till 2016-17, the budget was unveiled on the last day of February. But, in 2017-18, the …
This article explains the Most-favoured nation (MFN) status of the World Trade Organisation (WTO). The World Trade Organisation (WTO) is the global international organisation dealing with the rules of trade between two or more countries. The agreements in WTO are lengthy and complex and they cover a wide range of activities (agriculture, textile, banking, communication, …
The Board of Tata Sons (the holding company of Tata group) sacked Cyrus Mistry as its chairman less than 4 years after he took charge of the top job in the year 2012. His predecessor, Ratan Tata, would step in as interim chairman . In the meanwhile, the group has constituted a selection committee to …
Oliver Hart and Bengt Holmstrom won the Nobel prize in Economics ( also known as Central Bank of Sweden Nobel Memorial Prize in Economic Sciences) in 2016 for their contributions to the ‘contract theory.’ Their work in contract theory helps us to: Understand real-life contracts. Understand potential pitfalls (difficulties) in designing the contracts. Design better contracts. NOBEL …
Why Oliver Hart & Bengt Holmstrom won the Nobel Prize in Economics? Read More »
The Financial crisis 2008 or the Great Recession is the biggest economic event in the world after the Great Depression of the 1930s. This article explains the causes and consequences of the financial crisis in a very simplified way. [You may also read- The Great Depression of the 1930s explained] What is a financial crisis? …
The Financial Crisis 2008 Explained in Simple Terms Read More »