New UPI Services By RBI: UPI123Pay And Digisaathi The Reserve Bank of India (RBI) has launched new UPI services for feature phones called UPI123Pay for non internet users to make digital payments, also launched a 24×7 helpline for digital payments called ‘Digisaathi’. ‘Digisaathi’ has also been set up by the National Payments Corporation of India […]
Category: Economics Current Affairs
What Is National Land Monetization Corporation (NLMC)?
What Is National Land Monetization Corporation (NLMC)? The Union Cabinet has approved the setting up National Land Monetization Corporation (NLMC) as a wholly owned Government of India company. The Finance Minister had announced plans to set up a special purpose vehicle for this purpose in the Union Budget 2021-22. In August, 2021, the government of […]
Equalisation Levy
Equalisation Levy: Justifying the 2 per cent equalisation levy (EL) imposed by India on the supply of services by multinational enterprises, finance minister Nirmala Sitharaman has said it is a sovereign right to tax revenues earned from operations in the country. About the Equalisation Levy: India was the one of the first countries to introduce […]
FATF Retains Pakistan In Grey List
FATF Retains Pakistan In Grey List: The Financial Action Task Force (FATF) has retained Pakistan on its ‘greylist’ or ‘increased monitoring list’. The FATF included the United Arab Emirates (UAE), with which India signed a free trade agreement in February 2021. There are 17 countries on the grey list of the FATF. Zimbabwe has been […]
Monetary Policy Committee: Inflation Target
Monetary Policy Committee: RBI The Monetary Policy Committee (MPC) of the Reserve Bank of India’s (RBI) noted that the central bank’s accommodative policy stance may fail to comply with the Inflation target (upper limit of 6%). An accommodative stance indicates a willingness on the part of the central bank to expand money supply and cut […]
What is Predatory Pricing?
Predatory Pricing: The Competition Commission of India (CCI) has dismissed allegations of predatory pricing against e-commerce platform Shopee arguing that Shopee did not hold significant market power as it is a relatively new entrant in a market with well-established players. Predatory pricing is the illegal act of setting prices low to attempt to eliminate the […]
FDI Limit Under Automatic Route In LIC
FDI Up To 20% Under The “Automatic Route” In LIC: The Union Cabinet cleared an amendment to the FDI Policy to allow Foreign Direct Investment (FDI) up to 20% under the “automatic route” in Life Insurance Corporation (LIC) ahead of its proposed Initial Public Offer (IPO). The government expects to mobilize Rs 63,000-66,000 crore from […]
Asian Infrastructure Investment Bank (AIIB)
Asian Infrastructure Investment Bank (AIIB): The Beijing-based Asian Infrastructure Investment Bank (AIIB) said it was putting on hold and reviewing all projects in Russia and Belarus. The move comes amid sweeping sanctions and other financial measures aimed at Russia from a number of countries over its invasion of Ukraine. AIIB is a multilateral development bank […]
One Rank One Pension (OROP) Policy
One Rank One Pension (OROP) Policy: The Supreme Court asked the Centre to show how many persons in the Armed forces have benefitted from ‘One Rank One Pension’ (OROP) policy. The court also said that Centre’s stand on OROP presented a much “rosier picture” than what is actually given to the pensioners of the Armed […]
Radio Frequency Identification (RFID): Indian Army
Implementation Of Radio Frequency Identification (RFID): The Indian Army commenced implementation of Radio Frequency Identification (RFID) tagging of its ammunition inventory. Earlier in 2021, the Union Government integrated the E-Way Bill (EWB) system with FasTag and RFID. RFID is a type of passive wireless technology that allows for tracking or matching of an item or […]
