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 […]
Category: Economics Current Affairs
Initial Public Offering (IPO) Of LIC
Initial Public Offering (IPO) of LIC: The biggest-ever initial public offering (IPO) of India is by the Life Insurance Corporation of India (LIC). It has been fully booked under all the offered categories LIC’s IPO has received bids for 2.95 times the shares that were being offered. This helped the central government to raise Rs […]
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 […]
Neobank : 100th Unicorn In The Country
Neobank : 100th Unicorn In The Country India’s wave of unicorns reaches an all-time high with Neobank Open becoming the 100th unicorn in the country. Neobank startup, OPEN becomes the 100th unicorn in India with the latest funding of 50 million dollars from IIFL along with existing investors. The Indian Startup Ecosystem, the third-largest in […]
Repo Rate Increased
Repo Rate Increased: The Reserve Bank of India (RBI) raised the repo rate by 40 basis points (bps) to 4.4% citing inflation that was globally “rising alarmingly and spreading fast”. Monetary Policy Committee (MPC) had in an off-cycle meeting reviewed the latest economic developments including the impact of the war in Ukraine and decided to […]
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 […]
India’s Forex Reserves : Data
India’s Forex Reserves: India’s foreign exchange (forex) reserves declined for the seventh consecutive week. Forex or foreign exchange reserves are assets held by the central bank in foreign currencies as a reserve. According to the latest data from the Reserve Bank of India (RBI), India’s forex reserves stood at $600.42 billion as of April 22, […]
State Of Employment In India
State Of Employment In India: According to the latest data from the Centre for Monitoring Indian Economy (CMIE), India’s labor force participation rate (LFPR) has fallen to 40% from 47% in 2016. According to the Centre for Monitoring Indian Economy (CMIE), the labor force consists of persons who are of age 15 years or older, […]
RBI’s Report On Currency And Finance
RBI’s Report On Currency And Finance: According to recent Reserve Bank of India’s (RBI) Report on Currency and Finance (RCF), the Indian economy may take more than a decade to overcome the losses caused by the outbreak of Covid-19 pandemic. The theme of the report is “Revive and Reconstruct” in the context of nurturing a […]
