International credit rating agency Moody’s upgraded India’s sovereign bond rating for the first time in 14 years. The last upgrade had happened in 2004. However, the rating outlook was changed from ‘stable’ to ‘positive’ in 2015. Highlights: Moody’s upgrades India’s credit rating to Baa2 stable from Baa3 positive. Credit rating is a measure of credit-worthiness of …

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The Government of India has made Aadhar card compulsory for filing income tax returns and applying for PAN. The Aadhar has to be linked to your bank accounts and mobile numbers as well. Here’s all you need to know about Aadhar cards. What is Aadhar? Aadhar is a 12 digit unique-identity number assigned by the Indian …

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Islamic Banking is banking that complies with the Islamic law. According to the Islamic/ Sharia law: Interest is prohibited. Investment in business that deals with goods and services considered ‘haram’ is prohibited. Example: pork, alcohol, gambling, pornography etc. Gambling or speculation has to be minimised. Hence, it rules out investment in derivatives, options and futures …

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The Credit Linked Subsidy Scheme (CLSS) was launched by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) in June 2015. The purpose of the scheme is to provide interest subsidy on housing loans. This scheme was launched under Pradhan Mantri Awas Yojana (Urban). Updated on 15/05/2020: The deadline for CLSS for the middle-income group expired …

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The Bharatmala project is the second largest highways construction project in India since the National Highways Development Programme (NHDP). The National Highways Development Programme (NHDP) was launched by the Atal Bihari Vajpayee Government in the year 1998. Under NHDP, almost 50,000 km of highway roads were targeted across the country.  About 10,000 km of roads under the programme is …

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