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SRVAs are accounts opened by foreign entities with Indian banks that allow international trade transactions to be settled in Indian Rupees (INR) rather than traditional global currencies like the US dollar or Euro. Purpose: The primary purpose of SRVAs is to facilitate the settlement of trade transactions between Indian and foreign entities directly in INR, without needing to convert the currency into a widely used global currency like the USD. Background: SRVAs were introduced in

Quality Council of India (QCI)

Recently, the National Accreditation Board for Testing and Calibration Laboratories (NABL), a constituent body of the Quality Council of India (QCI), launched its new Medical Application Portal. About the Quality Council of India (QCI) The Quality Council of India (QCI) is a non-profit, autonomous organization established in 1997 under the Societies Registration Act of 1860. The QCI was jointly set up by: The Government of India and The Indian industry, represented by three pro

Mithi River

Recently, the Economic Offences Wing (EOW) of the Mumbai Police arrested a 49-year-old contractor in connection with the multi-crore Mithi River desilting fraud. The scam has resulted in significant financial losses, with the Brihanmumbai Municipal Corporation (BMC) losing over ?65 crore. This fraud involves the mismanagement and fraudulent practices related to the desilting operations of the Mithi River, a vital watercourse that flows through Mumbai. About Mithi River The Mithi Ri