BANKING - 2019 September

September 9

To upgrade rural roads to all-weather standards in 34 districts of Maharashtra, Asian Development Bank (ADB) agreed to provide $ 200 million. The main aim to improve road safety and better connectivity with markets. 

September 1

Under the mechanism of Automatic Exchange of Information (AEOI) between Switzerland and India that kicked off from September 1, 2019. India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018. It is the exchange of information between countries without having to request it. It aims to reduce global tax evasion. Common Reporting Standard (CRS) CRS is agreed global standard for it has been approved by Organisation for Economic Co-operation and Development in 2014.