Gabon Announced Debt-For-Nature Swap Deal: Gabon announced a $500 million debt-for-nature swap deal for marine conservation. Gabon on August 15, 2023, announced a $500 million debt-for–nature swap. This is the world’s second-largest deal signed under blue bond to refinance the country’s debt and conserve marine resources. Blue bonds: financial instruments that are designed to support […]
Category: Economics Current Affairs
Floating Interest Rate : RBI
Floating Interest Rate : RBI The Reserve Bank of India (RBI) recently issued detailed guidelines to reset floating-interest rates on Equated Monthly Instalments (EMI)-based personal loans. Floating Interest Rate is an interest rate that changes periodically. The rate of interest moves up and down, or “floats,” reflecting economic or financial market conditions. A floating interest […]
Centralized Public Grievance Redressal And Monitoring System
Centralized Public Grievance Redressal And Monitoring System: The Department of Administrative Reforms and Public Grievances (DARPG) released the Centralized Public Grievance Redressal and Monitoring System (CPGRAMS) 12th monthly report for States for July, 2023. DARPG has integrated the AI based language tool, Bhashini with the CPGRAMS portal. This integration would facilitate the Grievance Redressal Officers […]
Decisions Of Monetary Policy Committee
Decisions Of Monetary Policy Committee: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has recently opted to maintain the policy repo rate at 6.5%, while simultaneously revising its projection for retail inflation in the current fiscal year (2023-24). Additionally, a temporary 10% Incremental Cash Reserve Ratio (I-CRR) is imposed on banks […]
Remittances : India Status
Remittances : India Status Remittances to India surged by 26% to reach approximately $112 billion in FY23, marking a significant increase from the approx $89 billion recorded in FY22. This growth in remittances reflects the heightened demand for Indian professionals globally following the pandemic. Remittances are funds sent by migrants to their families and friends […]
Index Of Industrial Production
Index Of Industrial Production: India’s Index of Industrial Production in India declined to a three-month low of 3.7 per cent in June, mainly due to poor showing by the manufacturing sector. It is one of the Prime indicators of economic development for the measurement of trends in the behavior of Industrial Production over a period […]
PUShP Portal
PUShP Portal: The National Power Committee (NPC) has asked States to provide suggestions for offering incentives to buyers and sellers on the surplus power portal PUSHp, PUShP portal is a High Price Day Ahead Market (HP-DAM) and Surplus Power Portal (PUShP) launched by the Ministry of Power. It was launched to ensure greater availability of […]
Employee Stock Option Plan
Employee Stock Option Plan: A parliamentary panel recently recommended to the government to amend the Income Tax Act to ensure that ESOPs (Employee Stock Option Plan) are taxed only at the time of sale of shares and not on notional gains to allow startups to hire ‘low-cost’ employees. Employee Stock Option Plan (ESOP) which is […]
India Web Browser Development Challenge
India Web Browser Development Challenge: The Ministry of Electronics and Information Technology (MeitY) recently launched the Indian Web Browser Development Challenge (IWBDC). The challenge is spearheaded by MeitY in collaboration with the Controller of Certifying Authorities (CCA) and the Centre for Development of Advanced Computing (C-DAC) Bangalore. The Challenge seeks to inspire and empower technology […]
Cott-Ally App
Cott-Ally App: The Union Minister of State for Ministry of Textiles informed Lok Sabha about Cott-Ally App. The Cotton Corporation of India Limited I has developed a mobile app – “Cott-Ally” exclusively for the cotton farmers. Objective: To maximise the use of the digital media among the farmers to increase the reach of all government […]
