Category: Economics Current Affairs

Changes To India’s Foreign Direct Investment Policy:   The Union Cabinet approved changes to India’s foreign direct investment (FDI) policy to allow global investors to participate in the initial public offering of Life Insurance Corporation of India (LIC) shares expected to be launched soon. Foreign investors will now be able to invest up to 20% […]

Coal E-Auction:   Union Cabinet has approved offering of coal by coal companies through a common e-auction window instead of sector specific auctions. The Cabinet Committee on Economic Affairs approved the following: Offering of all the non-linkage coal by coal companies through one e-auction window of CIL (CIL) / Singareni Collieries Company Limited (SCCL). This […]

Whether Cryptocurrencies Is Legal In India?   The Supreme Court has asked the Centre whether dealing with cryptocurrencies like bitcoin is legal in India. The Court posed the query while hearing a plea by one of the accused in the GainBitcoin scam, seeking quashing of the charges against him. There’s no formal regulation on cryptocurrencies […]

National Strategy For Additive Manufacturing Policy:   The Ministry of Electronics and Information Technology (MeitY) unveiled the National Strategy for Additive Manufacturing Policy. Highlights of Policy: The policy aims to increase India’s share in global additive manufacturing to 5% within the next three years and add USD 1 billion to the gross domestic product. Further, […]

Ombudsperson App For Mahatma Gandhi NREGA:   Union Minister for Rural Development Giriraj Singh launched Ombudsperson App for Mahatma Gandhi NREGA. Ministry of Rural Development has developed an Ombudsperson App for smooth reporting and categorization of grievances by Ombudsperson based on complaints he received from various sources viz. physical, digital and mass media, related to […]

SPMCIL Declared A Prohibited Place:   The Delhi headquarters of the Security Printing and Minting Corporation of India Ltd. (SPMCIL) has been declared a “prohibited place” under the Section 2 of the Official Secrets Act, 1923 by the Union Home Ministry “to prevent the entry of unauthorised persons”. The Security Printing & Minting Corporation of […]

The Angadia System:   An FIR has been registered against three Mumbai Police officials for allegedly threatening Angadias and extorting money from them in south Mumbai. Earlier this month, an Angadias shop in Mulund was looted by a gang of robbers. The Angadia system is a century-old parallel banking system in the country where traders […]

25th Meeting Of The Financial Stability And Development Council:   The 25th meeting of the Financial Stability and Development Council (FSDC) was held in Mumbai, under the Chairpersonship of Union Finance Minister Nirmala Sitharaman. It was setup in 2010 by Indian Government as an executive body. It replaced the High Level Coordination Committee on Financial […]

National Means-Cum-Merit Scholarship (NMMSS):   Government has approved the continuation of Central Sector National Means-cum-Merit Scholarship (NMMSS) over the 15th Finance Commission cycle for a period of five years i.e. from 2021-22 to 2025-26 with financial outlay of Rs. 1827.00 crore. The scheme has been approved with minor modifications in eligibility criteria such as increasing […]

Non Fungible Tokens: According to a report, the sales of Non-Fungible Tokens (NFTs) surged USD 25 billion in 2021 as the crypto asset exploded in popularity. However, some experts believe NFTs are a bubble that might pop. NFTs are Anything that can be converted into a digital form can be an NFT. Everything from drawings, […]