Cryptocurrency: International Monetary Fund (IMF) Chief Economist has made a strong case for regulating cryptocurrencies, saying it will always be a challenge to ban them as they operate from offshore exchanges; and feels it to be more attractive to adopt cryptocurrencies and assets in emerging economies than in advanced economies A cryptocurrency is a digital […]
Category: Economics Current Affairs
The State Of The World’s Land And Water Resources For Food And Agriculture: FAO Report
The State Of The World’s Land And Water Resources For Food And Agriculture: As per the recently released, ‘The State of the world’s land and water resources for food and agriculture (released by FAO)’, water and land resources are being pushed to limits due to human actions. Highlights of the report: Sources of fodder (grassland […]
RBI Allows Payments Banks, Small Finance Banks To Conduct Govt Agency Business
RBI Allows Payments Banks, Small Finance Banks To Conduct Govt Agency Business: It will be subject to the condition that the concerned bank is not under the Prompt Corrective Action (PCA) framework or moratorium. The choice of accrediting an agency bank (including scheduled private sector agency bank) for any particular government agency business rests solely […]
Deposit Insurance And Credit Guarantee Corporation (DICGC) Bill, 2021
Deposit Insurance And Credit Guarantee Corporation (DICGC) Bill, 2021: The Prime Minister said that Rs 1,300 crore had been paid to over 1 lakh depositors who could not access their money as their banks faced financial crises. The deposits worth Rs 76 lakh crore were insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) […]
What is Wholesale Inflation?
Wholesale Price Index: Wholesale inflation, based on the Wholesale Price Index, jumped to 14.23 per cent in November from 12.54 per cent in October (on a year-on-year basis), data released by the Ministry of Commerce & Industry showed. It was primarily due to rise in food prices especially of vegetables, and minerals and petroleum products […]
What is the Co-Lending Model?
Bank NBFC: A November 2020 decision by the Reserve Bank of India (RBI) to permit banks to “co-lend with all registered NBFCs (including HFCs) based on a prior agreement”, has led to unusual tie-ups like the one announced earlier this month between the State Bank of India (SBI) and Adani Capital The ‘Co-Lending Model’ In […]
RELOS: Logistics Agreements with Russia
Logistics Agreements: India is all set to conclude the bilateral logistics agreement with Russia (the Reciprocal Exchange of Logistics Agreement (RELOS)) soon. RELOS will be an important step forward in the military sphere as it aims at fostering interoperability and sharing of logistics. The “long overdue” agreement was to have come up for signing in […]
Bank Deposit Insurance Program
Bank Deposit Insurance Program: The Central government has highlighted the significance of increase in bank deposit insurance cover, in case of problems occurring such as closure, from Rs 1 lakh to Rs 5 lakh. PM Modi is to address the nation on Bank Deposit Insurance. Earlier, there used to be a bank deposit insurance cover […]
Bullion Trade in India Report: World Gold Council
World Gold Council: As per WGC’s ‘Bullion Trade in India’ report: Imports made up 86% of India’s gold supply between 2016-2020, and inbound shipments continue to grow despite high import duty. Since the first duty hike in 2012, India has imported some 6,581 tonnes of gold, averaging 730 tonnes per annum. In 2020, India imported […]
UPI To Be Extended to Feature Phones
Unified Payments Interface (UPI): The UPI facility will soon be extended to feature phone users. At the moment, the unified payments interface (UPI) — the single largest retail payments system in the country in terms of volume of transactions for small-value payments — is available only for smartphones. RBI is doing this to further deepen […]
