GENDER BUDGET: RHETORIC, REALITY
Focus: GS-II Social Justice, GS-III Indian Economy, Prelims Why in news? Budgetary allocations for “100% women-specific programmes” in 2018-19, as listed in Part A of the Gender Budget Statement (GBS), declined. Despite some sops to women: a cut in provident fund contribution, and 80 million free gas connections for poor women, a closer examination of […]
NCLT APPROVES COCHIN SHIPYARD’S TEBMA PLAN
Focus: GS-III Industry and Infrastructure, Indian Economy Why in news? The Chennai bench of the National Company Law Tribunal (NCLT) has approved the ₹65-crore resolution plan submitted by Cochin Shipyard Limited for Tebma Shipyards Limited. NCLT noted that the resolution plan value was lower than the liquidation value of about ₹89.09 crore. However, it said […]
SENSEX PLUNGES 2.3% ON COVID-19, YES BANK
Focus: GS-III Indian Economy Why in news? A mix of domestic and global negative factors drove Indian equity benchmarks down more than 2% on 6th March 2020. On the global front, almost all leading equity markets across the world lost ground on 6th March as the number of people infected by COVID-19 crossed the 10,000-mark […]
DICGC: RELEVANCE IN THE WAKE OF YES BANK ISSUE
Focus: GS-III Indian Economy, Economic Development Deposit Insurance and Credit Guarantee Corporation (DICGC) Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of Reserve Bank of India. It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961. Hence, it is a Statutory body. It was […]
IN PUSH FOR NEIGHBOURHOOD FIRST POLICY: INDIA PLANS A COMMON ELECTRICITY MARKET
Focus: GS-II International Relations, GS-III Industry and Infrastructure, Indian Economy Why in news? The Union government plans to set up a regional grid that will be leveraged to create a common electricity market for nations in India’s neighbourhood, said power and new and renewable energy minister. The proposed market, which will include Myanmar, Sri Lanka, […]
YES BANK PLACED UNDER MORATORIUM BY RBI TILL APRIL 3
Focus: GS-III Indian Economy, Prelims Why in news? The government has put private sector lender Yes Bank under moratorium till April 3 and capped deposit withdrawal at ₹50,000 after severe deterioration of the bank’s financial position. The decision was taken by the government after an application from Reserve Bank of India (RBI). Why was it […]
PUBLIC SECTOR BANK MERGERS GET APPROVAL
Focus: GS-III Indian Economy Why in news? The merger of public sector banks (PSBs) will become effective from April 1, 2020, with the Cabinet giving nod to the proposal on 4th March 2020. Details The consolidation of 10 PSBs into four includes the merger of: Oriental Bank of Commerce and United Bank of India into […]
BOND YIELDS DECLINE ON EXPECTATION OF RATE CUT
Focus: GS-III Indian Economy, Economic Development Why in news? There is a growing expectation in the domestic market that the Reserve Bank of India will be cutting the repo Rate after the U.S. Federal Reserve reduced interest rates on 3rd March 2020, to fight the economic slowdown due to the spread of COVID-19. Bond yields […]
CUT IN BUDGETARY ALLOCATION WILL JEOPARDISE TOURISM: HOUSE PANEL
Focus: GS-III Indian Economy, Economic Development Why in news? The Finance Ministry’s move to cut down the budgetary allocation for the Tourism Ministry in the 2019 financial year will ‘seriously jeopardise’ the targeted tourism outcomes during 2020-21, a Parliamentary panel has said in its report. Details The huge mismatch between the projected demand for funds […]
RUPEE IN FREE FALL ON COVID-19 FEARS; RBI SOOTHES MARKET
Focus: GS-III Indian Economy Why in news? The rupee fell for the third consecutive session on 3rd March 2020 on concerns over the deadly COVID-19 spreading in India amid the central bank stepping in to calm investor sentiment. The rupee dropped below the 73-a-dollar level even as the equity markets bounced back, snapping a seven-day […]