The Monetary Policy: RBI: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the key policy rate — Repo rate, or the RBI’s lending rate to banks — unchanged at four per cent for the seventh time in a row, and reverse repo rate — RBI’s borrowing rate from banks — […]
Category: Economics Current Affairs
E-Prisons Project
E-Prisons Project: The Ministry of Home Affairs (MHA) has provided financial assistance of Rs. 99.49 crores to the States and Union Territories (UTs) for the E-Prisons Project. Also, acting on the request of the MHA, NIMHANS, an Institute of National Importance, has recently issued a set of guidelines on the management of mental health issues […]
Retrospective Tax Law Of 2012
Retrospective Tax Law Of 2012: The Government of India took the first step towards doing away with the contentious retrospective tax law of 2012, which was used to raise large tax demands on foreign investors such as Vodafone and Cairn Energy, and blamed for vitiating India’s investment climate. Union Finance and Corporate Affairs Minister introduced […]
New Framework For Payment Systems Operators
New Framework For Payment Systems Operators: The Reserve Bank of India (RBI) has issued a framework for payment and settlement related activities by payment system operators. This framework is issued under provisions of Payment and Settlement Systems Act, 2007. The Payment and Settlement Systems Act, 2007 provides for the regulation and supervision of payment systems […]
Fast Track Special Court
Fast Track Special Court: The Union Cabinet has approved the continuation of 1023 Fast Track Special Court (FTSCs) including 389 exclusive POCSO Courts as a Centrally Sponsored Scheme (CSS) from 01.04.2021 to 31.03.2023 with an outlay of Rs. 1572.86 crore (Rs.971.70 crore as Central Share and Rs.601.16 crore as State share). Central Share is to […]
Covid 19 Effects on SDG-2 Zero Hunger
Zero Hunger: According to a recent report by the United Nations, the goal of achieving Sustainable Development Goals (SDG) 2 i.e. ‘Zero Hunger’ has been hit in the wake of the novel coronavirus disease (Covid-19) pandemic. The zero hunger goal works in tandem with many others: Poverty elimination (SDG1), good health and well-being (SDG3), and […]
National Child Labour Project
National Child Labour Project: In 2020-21, over 58,000 children were rescued across India from work, rehabilitated and mainstreamed under the National Child Labour Project, according to figures tabled in Lok Sabha by Minister for Labour and Employment. The National Child Labour Project (NCLP) Scheme is a Central Sector Scheme. Under this Scheme the District Project […]
Community Of Portuguese Language Countries (CPLP)
The Community Of Portuguese Language Countries (CPLP): Minister for External Affairs said that India has joined the Community of Portuguese Language Countries, CPLP as Associate Observer in July this year. this sets a new platform for strengthening India’s historic bonds of friendship with Lusophone countries. The Community of Portuguese Language Countries (CPLP) is also known […]
What is e-RUPI?
e-RUPI: Voucher Based Digital Payment System: The Indian government is going to launch an electronic voucher based digital payment system e-RUPI. There are already many countries using the voucher system for example the US, Colombia, Chile, Sweden, Hong Kong, etc. e-RUPI: It is a cashless and contactless method for digital payment. It is a Quick […]
25th Controller General Of Accounts (CGA)
25th Controller General Of Accounts (CGA): Deepak Das took charge as the 25th Controller General of Accounts (CGA), with effect from August 1, 2021. Parent agency: Department of Expenditure, Ministry of Finance. It is the Principal Accounting Adviser to Government of India and is responsible for establishing and maintaining a technically sound Management Accounting System. […]
