World’s First “Crypto-Backed” Payment Card: Crypto lender Nexo has collaborated with Mastercard to launch the world’s first “crypto-backed” payment card. This launch has signaled the move by financial and crypto networks to collaborate as digital assets are becoming more mainstream. Initially, the card will be available in selected European countries. It will allow users to […]
Category: Economics Current Affairs
State of the Economy Report : RBI
State of the Economy Report : RBI The Reserve Bank of India (RBI) in its ‘State of the economy’ report cautioned that the surging commodity prices are causing inflation risks, especially through the surging of imports. The ever-growing widening of current and trade account deficits along with the portfolio capital outflows is putting pressure on […]
Oil Bonds
Oil Bonds: The government issues oil bonds to compensate the oil marketing companies (OMCs) to offset the losses that are suffered by them with the aim of shielding consumers from rising crude oil prices. These bonds were issued by the government mainly from 2005 to 2010. Nirmala Sitharaman, Finance Minister had said that the central […]
South Asia Economic Focus: World Bank
South Asia Economic Focus: World Bank The World Bank in its report South Asia Economic Focus (Bi- Annual) cut its economic growth forecast for India and the whole South Asian region. South Asia Economic Focus describes recent economic developments, analyses the economic impact on South Asia of the war in Ukraine, presents growth forecasts, provides […]
Rural Inflation
Rural Inflation: Official data pegs rural inflation in March at 7.66%, with several States reporting even higher inflation, including West Bengal (8.85%), Uttar Pradesh and Assam (8.19%) as well as Madhya Pradesh (7.89%). Urban inflation has usually tended to be higher than rural inflation by an average of about 0.8 percentage points through most of […]
National Conference On Cooperation Policy : Highlights
National Conference On Cooperation Policy: The National Conference on Cooperation Policy concluded in New Delhi. Highlights of the Conference: The conference was structured into six important themes covering not only the whole life cycle of cooperatives but also touching upon all the facets of their business and governance. The panel discussions have been held on […]
Increase in Retail Inflation
Retail Inflation: Retail inflation accelerated sharply to 6.95% in March, the fastest pace of price gains in almost a year and a half, and marked the third straight month when inflation exceeded the Reserve Bank of India’s tolerance threshold of 6%. A surge in food price inflation, which quickened to 7.68% from 5.85% in February, […]
What Is The Concessional Tax Rate Regime?
What Is The Concessional Tax Rate Regime? Government data has shown that the concessional corporate tax rate announced by the Union government in September 2019 saw two out of every five new domestic manufacturing companies incorporated in 2019-20 (April-March) opting for the reduced 15% tax rate. Corporation tax is a direct tax placed on a […]
Cardless Cash Withdrawals At ATMs : RBI
Cardless Cash Withdrawals At ATMs : RBI The Reserve Bank of India (RBI) announced cardless cash withdrawals at ATMs across the country which will enable consumers to use Unified Payment Interface (UPI) on their smartphones to withdraw cash from Automatic Teller Machine (ATMs). It would help prevent frauds like card skimming and card cloning. Currently, […]
RBI Draft Norms For Trade Via E-commerce
RBI Draft Norms For Trade Via E-commerce: The Reserve Bank of India has proposed to modify the existing norms that are in place with the aim of rationalizing and simplifying the process for payment settlement for imports and exports through e-commerce. The draft guidelines named ‘Processing and Settlement of small value Export and Import related […]
