Remittance Expected To Increase By 4.2 Percent In 2022

Remittance Expected To Increase By 4.2 Percent In 2022: Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent in 2022 to reach $630 billion. This follows an almost record recovery of 8.6 percent in 2021, according to the World Bank’s latest Migration and Development Brief released today. […]

Central African Republic (CAR) Became The Second Country To Adopt Bitcoin

Central African Republic (CAR) Became The Second Country To Adopt Bitcoin: The Central African Republic (CAR) became the second country after El Salvador to adopt Bitcoin as legal tender. The Union Budget 2022-2023 of India has also proposed to introduce a digital currency in the coming financial year. It was also announced that “any income […]

Foreign Exchange Reserves : RBI Added 16.58 Tonnes Of Gold

Foreign Exchange Reserves: The Reserve Bank of India (RBI) added another 16.58 tonnes of gold to the country’s foreign exchange reserves in the last six months, bringing the country’s gold holdings to more than 700 tonnes (around 760.42). Gold was acquired by the RBI at a time when Foreign Portfolio Investors (FPIs) left India, and […]

Foreign Contribution (Regulation) Act, 2010

Foreign Contribution (Regulation) Act, 2010: Representatives of NGOs, middlemen and public servants of Foreign Contribution Regulation Act (FCRA) division of MHA were recently arrested by the CBI for committing violations of FCRA provisions and facilitating illegal clearances in lieu of bribes”. FCRA clearances have been a fraught issue for several years, and the government has […]

Depreciation Of Indian Rupee : All-Time Low Of 77.44 Against The U.S. Dollar.

Depreciation Of Indian Rupee : All-Time Low Of 77.44 Against The U.S. Dollar: The Indian rupee fell to an all-time low of 77.44 against the U.S. Dollar. Depreciation: Currency depreciation is a fall in the value of a currency in a floating exchange rate system. Rupee depreciation means that the rupee has become less valuable […]

Nomination Of Rajiv Ranjan As Ex-Officio Member Of Monetary Policy Committee

Nomination Of Rajiv Ranjan As Ex-Officio Member Of Monetary Policy Committee: The Central Board of Directors of Reserve Bank of India (RBI) has approved nomination of Rajiv Ranjan as ex-officio member of Monetary Policy Committee (MPC). The Reserve Bank of India Act, 1934 was amended by Finance Act (India), 2016 to constitute MPC. It is […]

National Open Access Registry (NOAR)

National Open Access Registry (NOAR): National Open Access Registry (NOAR) has successfully gone live from 1st May 2022. NOAR is an integrated single window electronic platform accessible to all stakeholders including open access participants, traders, power exchanges, national/regional/state load despatch centres for electronic processing of short-term open access application thereby automating the administration of the […]