Category: Economics Current Affairs

Repo Rate Unchanged:   The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept key policy rates – Repo rate, Reverse repo rate and the Bank rate – unchanged and retained the accommodative policy stance. This is the tenth consecutive time that the repo rate has remained unchanged. The central bank […]

Draft Red Herring Prospectus (DRHP):   The Union government has filed a draft red herring prospectus with the stock market regulator for selling 5% of its shares in the Life Insurance Corporation (LIC) of India. A Draft Red Herring Prospectus (DRHP) is a document that is prepared to introduce a new business or product to […]

Capital Gains:   In an almost 10-fold increase in tax collections from stock markets, the government is expecting to collect Rs 60,000-80,000 crore this financial year as a tax on capital gains in the stock markets as against Rs 6,000-8,000 crore in the previous fiscal. Under the Income Tax Act, gains from the sale of […]

Society For Worldwide Interbank Financial Telecommunication (SWIFT):   As tensions exacerbate between Washington and Moscow over Ukraine, political commentators say that the United States could, as a last resort, exclude Russia from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). If a country is excluded from the most participatory financial facilitating platform, its foreign funding […]

National Single Window System:   Jammu & Kashmir became the first Union Territory to be onboard the National Single Window System (NSWS). This marks a major leap in Ease of Doing Business (EoDB) in the Union Territory. NSWS is linked with India Industrial Land Bank (IILB) which hosts 45 industrial parks of J&K. This will […]

Monetary Policy:   The Reserve Bank of India maintained status quo in policy rates as the Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate at 4% to keep the stance accommodative. While announcing the Bi-monthly policy RBI Governor Shaktikant Das said, MSF rate and bank rate will remain unchanged at 4.25%. […]

Liquidity Window For Healthcare:   The Reserve Bank of India (RBI) proposed to extend the term-liquidity facility of ₹50,000 crore offered to emergency health services by three months till June 30. Last year in May, RBI had announced an on-tap liquidity window of ₹50,000 crore, at the repo rate with tenors of up to three […]

What Is ‘tulip mania’?   A week after budget 2022-23 proposed 30 per cent tax on gains made from cryptocurrency trades, Reserve Bank of India (RBI) governor Shaktikanta Das termed it as a “threat to macroeconomic and financial stability”. Tulip mania was a period when tulips were recently introduced and bought in large quantities by […]

National Single Window System (NSWS):   In a historic achievement, Jammu & Kashmir became the first Union Territory to be onboarded the National Single Window System (NSWS). This marks a major leap in Ease of Doing Business (EoDB) in the Union Territory. Lieutenant Governor Shri Manoj Sinha launched the J&K Single Window Clearance System integrated […]

PM CARES Fund:   The PM CARES Fund collected ₹10,990 crore since its inception in March 2020 until March 2021. It spent ₹3,976 crore during the 2020-21 financial year, according to the audited financial statement posted on its website. As on March 31, 2021, the Fund had an unspent balance of ₹7,044 crore. The Fund […]