Digital Banking Units
Focus: GS III: Indian Economy Why in News? Recently, the Prime Minister of India has dedicated 75 Digital Banking Units (DBU) across 75 districts to the nation. About Digital Banking Units A digital banking unit is a specialized fixed point business unit or hub, housing a certain minimum digital infrastructure for delivering digital banking products […]
Decline in Forex Reserves
Context According to the Reserve Bank of India (RBI), India’s forex reserves have fallen by USD 110 billion in the last 13 months. Relevance: GS III: Indian Economy Dimensions of the Article: What are forex reserves? What does the RBI do with the forex reserves? Current Scenario Causes of Declining Forex Reserves What are forex […]
Pilot launch of E-Rupee
Context: The Reserve Bank of India (RBI) has indicated that it will soon commence limited pilot launches of e-rupee (e`), or Central Bank Digital Currency (CBDC) or digital rupee, for specific use cases. Relevance: GS III: Indian Economy Dimensions of the Article: What’s RBI’s plan? What is E-rupee? What are the forms of CBDC? What’s […]
Credit Guarantee Scheme for Startups
Focus: GS III: Indian Economy Why in News? Recently, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the credit guarantee scheme for start-ups. About Credit Guarantee Scheme for Startups (CGSS) The program’s goal is to provide credit guarantees for loans made by Member Institutions (MIs) to qualified borrowers […]
Direct Tax Collections
ontext: Recently Union Finance Ministry said, India’s net direct tax collections in the financial year 2022-23 have risen to ₹7.45 lakh crore, more than half of the Budget targets. It is an increase of 16.3% over the tax inflows during the corresponding period a year ago. Relevance: GS III- Indian Economy Dimensions of the Article: […]
Strategic Disinvestment of IDBI Bank
Context: The government kicked off the process for the strategic disinvestment of IDBI Bank along with the transfer of management control, by issuing a preliminary information memorandum to invite expressions of interest from prospective buyers. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal Policy, Inclusive growth and issues therein, Budgeting) Dimensions of […]
70 Million Plunged Into Poverty in 2020
Context: According to a new World Bank report, titled “Poverty and Shared Prosperity 2022: Correcting Course”, the Covid pandemic has been the biggest setback to global poverty alleviation in decades. Relevance: GS III: Indian Economy Dimensions of the Article: Highlights of the report What about India’s poverty levels? What are the suggested solutions? Highlights of […]
Insolvency and Bankruptcy Code Of India
Context: Speaking at the sixth anniversary of the Insolvency and Bankruptcy Board of India (IBBI) Union Finance Minister said that the country could not afford to lose the “sheen” of its insolvency law, the Insolvency and Bankruptcy Code (IBC). Relevance: GS III: Indian Economy Dimensions of the Article: What is the IBC? Objectives of IBC […]
Tokenisation For Credit and Debit Card Transactions
Context: Recently, the Reserve Bank of India’s card-on-file (CoF) tokenisation norms have kicked in, which aim at improved safety and security of card transactions. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources, Financial Inclusion, Banking Sector) Dimensions of the Article: What is Tokenisation and what are RBI’s guidelines? How will […]
Insolvency and Bankruptcy Board of India
Focus: GS III- Indian Economy Why in News? The Insolvency and Bankruptcy Board of India (IBBI) celebrated its sixth Annual Day . What is Insolvency and Bankruptcy? Insolvency is a financial status: your debts are greater than the fair market value of your assets & you’re unable to pay your debts as they generally become due. […]