Bad Bank: A key proposal announced in this year’s (2021) Budget, a bad bank to deal with stressed assets in the loss-laden banking system, has received all regulatory approvals. Setting up of NARCL, the proposed bad bank for taking over stressed assets of lenders, was announced in the Budget for 2021-22. The plan is to […]
Category: Economics Current Affairs
India’s Forex Reserves: January 2022
Forex Reserves: According to recent data from Reserve bank of india (RBI), India’s Foreign Exchange (Forex) reserves posted a decline of USD 678 million during the week ended 21st January 2022 to reach USD 634.287 billion. The slip in the reserves was on account of a drop in the Foreign Currency Assets (FCA), a vital […]
Micro, Small And Medium Enterprises Ranking India 2022
Micro, Small And Medium Enterprises: According to the data furnished by the Office of the Development Commissioner in the Union Ministry of MSME: Maharashtra tops India’s list in the number of micro, small and medium enterprises (MSME) owned by entrepreneurs from the Scheduled Castes with as many as 96,805 enterprises. Tamil Nadu with 42,997 enterprises […]
Scheme for Enhancement of Capital Goods Sector Phase II
Scheme On Enhancement Of Competitiveness In The Indian Capital Goods Sector- Phase-II: Ministry of Heavy Industries (MHI) has notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure. The scheme has a financial outlay of Rs. 1207 crores with Budgetary support […]
Proposal for Setting Up a Bad Bank is Still Pending
Bad Bank: The Reserve Bank of India’s (RBI’s) approval for the implementation of the proposal for setting up a ‘Bad Bank’ is still pending. In September 2021, the Union Cabinet approved the Rs. 30,600 crore guarantee to back Security Receipts issued by National Asset Reconstruction Company Limited (NARCL) for acquiring stressed loan assets. NARCL & […]
Regional Rapid Transit System (RRTS)
Regional Rapid Transit System (RRTS): The officials of Regional Rapid Transit System (RRTS) estimated that RRTS will reduce CO2 emissions by taking around 1.5 lakh private vehicles off the road. The corridor will start from Sarai Kale Khan in Delhi, pass through Ghaziabad, and reach Modipuram in Meerut (Uttar Pradesh). The RRTS, the first of […]
Air India Formally Handed Over To Tata Group
Air India Now Formally Handed Over To Tata Group: The Union government has transferred its shares in Air India, along with control and management, to Tata Sons subsidiary, Talace, ending a disinvestment process that started five years ago. Tatas will get Air India’s fleet of 141 planes, along with ownership of iconic Brands like Air […]
Non-Fungible Tokens (NFTs)
Non-Fungible Tokens: French luxury fashion brand Hermès is suing American digital artist Mason Rothschild who created the MetaBirkins series of NFTs (Non-Fungible Tokens), a rapidly growing part of the cryptoworld. An NFT is a unique, irreplaceable token that can be used to prove ownership of digital assets such as music, artwork, even tweets and memes. […]
National Single Window System (NSWS)
National Single Window System (NSWS): The Minister of Commerce and Industry Shri Piyush Goyal has said simplicity of operations and transparency should be the focus of the National Single Window System (NSWS). The digital platform of NSWS facilitates investors to identify and apply for approvals. It supports information across 32 Central Ministries/ Departments and the […]
Online Storage Management (OSM)
Online Storage Management (OSM): The Department of Food and Public Distribution under Ministry of Consumer Affairs, Food and Public Distribution with its principal agency, FCI, has developed a roadmap to roll out Online Storage Management (OSM) in the country. The OSM envisages putting in place a single source of information for the food grains stored […]
