Banks to shift Rs. 89,000 crore NPAs to NARCL
Context: Banks have identified about 22 bad loans worth ₹89,000 crore to be transferred to the National Asset Reconstruction Company Ltd. (NARCL) in the initial phase. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, NPAs) Dimensions of the Article: What is an Asset Reconstruction Company? What are Bad Banks? National Asset Reconstruction Company […]
No change in RBI’s view on cryptocurrencies
Context: RBI Governor Shaktikanta Das made it clear that the central bank’s view on cryptocurrencies like Bitcoin remains unchanged and it continues to have “major concerns” on the volatile instruments. Relevance: GS-III: Indian Economy (Banking, Money, Monetary Policy), GS-III: Science and Technology (Developments in Science and Technology, Application of Technology in Daily life, Blockchain technology) […]
World Employment and Social Outlook: Trends 2021
Context: International Labour Organisation (ILO) has released the World Employment and Social Outlook: Trends (WESO) report 2021 which shows that Global unemployment is expected to be at 205 million in 2022, surpassing the 2019 level of 187 million. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Important International Institutions and their reports, Employment) […]
Why oil prices are rising? Impact on India
Context: Crude oil prices have hit a two-year high with Brent crude rising above the $71 per barrel mark on May 2021, hitting the highest level since May 2019 as key oil-producing countries announced that they would adhere to plans entailing a gradual increase in crude oil production. Relevance: GS-III: Indian Economy (International Trade, Mobilization […]
What explains the surge in FDI inflows?
Context: Total foreign direct investment (FDI) inflow in 2020-21 is $81.7 billion, up 10% over the previous year 2020, reported a recent Ministry of Commerce and Industry press release. Relevance: GS-III: Indian Economy (Growth & Development of Indian Economy, Mobilization of Resources, Capital Market) Dimensions of the Article: About Foreign Direct Investment FDI Routes in […]
Union Cabinet approves Model Tenancy Act
Context: The Union Cabinet approved the Model Tenancy Act, a move that will help overhaul the legal framework with respect to rental housing across the country. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy) Dimensions of the Article: What is the Model Tenancy Act? About the latest approval by the Union Cabinet What […]
US sets, then suspends tariffs over digital taxes
Context: The United States government announced further suspension of punitive tariffs for six months on India, Austria, Italy, Spain, Turkey, and the United Kingdom while it continues to resolve the digital services taxes investigation amid the ongoing multilateral negotiations at the OECD and in the G20 process. Relevance: GS-III: Indian Economy (Growth and Development of […]
43rd GST Council Meeting
Context: The Goods and Services Tax (GST) Council led by Finance Minister, in its first meeting of the financial year 2021-22, decided to exempt IGST on import of free COVID-related supplies till August 31. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal Policy, Taxation) Dimensions of the Article: GST Council Highlights of […]
RBI Annual Report for 2020-21
Context: RBI said in its Annual Report for 2020-21 that while the economy has not moderated to the extent during the first wave, the surrounding uncertainties can act as a deterrent in the immediate period. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy) Dimensions of the Article: Highlights of the RBI’s Annual Report […]
New Insurance Sector FDI rules set
Context: The government expects foreign direct investment to pick up pace in the insurance sector, as most regulations have been amended to give effect to 74 per cent FDI limit. With the government defining the management and control criteria for Indian insurance companies through a gazette notification, the Finance Ministry expects the sector to be […]