The Global Financial Crisis of 2007-08 was a shock to the entire financial system of the world. It started off due to deregulation of the system in the United States of America which later affected the entire world, especially the housing and the banking sector. After the Glass-Steagall Act of 1933 and the Commodity Futures Modernization…
Generally, laws on money lending aim to safeguard the interest and rights of the borrower by imposing licensing requirements on money lenders, limiting the interest rates charged on loans by them, and implementing more such rules and policies so as to control and regulate the activities of private money lending and that of the money…
INTRODUCTION The Supreme Court of India overturned a circular (the VC Circular) issued by India’s central bank, the Reserve Bank of India (RBI), on constitutional grounds on March 4, 2020, which banned the use of regulated banking and payment channels for the selling and purchase of virtual currency (the IAMAI case). 3 This reaffirmed the…
INTRODUCTIONThe Foreign Exchange Management Act of 1999 (FEMA) is an act of the Indian parliament that aims to “consolidate” and amend the law relating to foreign exchange with the goal of facilitating international trade and payments and promoting the orderly development and maintenance of the Indian foreign exchange market. It was passed into law on…
INTRODUCTIONZee Entertainment and Sony Pictures Networks India are merging, with the latter injecting an additional $1.6 billion into the combined organisation to fuel future expansion.This news could not have come at a better moment for Punit Goenka’s entertainment enterprise. The majority of Zee Entertainment’s shareholders voted to fire Goenka and two other independent directors. While…
The Foreign Exchange Management Act (FEMA) was introduced by the Indian Government in 1999, replacing the previous Foreign Exchange Regulation Act (FERA) of 1973. FEMA was designed to boost external payments and foreign trades. FEMA is a civil law against FERA which was a draconian police law. In essence, FEMA was a modernization of the…
Economic theories attempt to make us understand how economies work. They shape different responses to economic cycles. Neoclassical, Keynesian, and Marxian theories contradict each other in basic ways, for eg. adopting neoclassical theory would lead to no government intervention in regards to the capitalist economy, whereas Keynesian theory would lead to a more state interventionist…
LIFE INSURANCE A life insurance policy is a legally enforceable contract issued by the insurer in consideration of the application and the payment of premiums.Needless to assert , that it provides risk coverage in event of the death of an individual.t is essential to have a life insurance to provide financial protection and security for surviving family members…
IS CRYPTO CURRENCY LEGAL IN INDIA ? Crypto currency is the digital currency which is developed by a process called mining using an advanced technology known as block chain technology. In India there are various people who invest in crypto currencies as it has the maximum return rates. Business tycoons such as Elon musk and…
INTRODUCTION Currency notes are one of the most vital elements of economic activities. It is synonymously related to money which is considered as a medium of exchange. It can also be referred to as banknotes. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank). The printing of…
