Category: Economics Current Affairs

Society For Worldwide Interbank Financial Telecommunication (SWIFT):   As tensions exacerbate between Washington and Moscow over Ukraine, political commentators say that the United States could, as a last resort, exclude Russia from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). If a country is excluded from the most participatory financial facilitating platform, its foreign funding […]

National Single Window System:   Jammu & Kashmir became the first Union Territory to be onboard the National Single Window System (NSWS). This marks a major leap in Ease of Doing Business (EoDB) in the Union Territory. NSWS is linked with India Industrial Land Bank (IILB) which hosts 45 industrial parks of J&K. This will […]

Monetary Policy:   The Reserve Bank of India maintained status quo in policy rates as the Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate at 4% to keep the stance accommodative. While announcing the Bi-monthly policy RBI Governor Shaktikant Das said, MSF rate and bank rate will remain unchanged at 4.25%. […]

Liquidity Window For Healthcare:   The Reserve Bank of India (RBI) proposed to extend the term-liquidity facility of ₹50,000 crore offered to emergency health services by three months till June 30. Last year in May, RBI had announced an on-tap liquidity window of ₹50,000 crore, at the repo rate with tenors of up to three […]

What Is ‘tulip mania’?   A week after budget 2022-23 proposed 30 per cent tax on gains made from cryptocurrency trades, Reserve Bank of India (RBI) governor Shaktikanta Das termed it as a “threat to macroeconomic and financial stability”. Tulip mania was a period when tulips were recently introduced and bought in large quantities by […]

National Single Window System (NSWS):   In a historic achievement, Jammu & Kashmir became the first Union Territory to be onboarded the National Single Window System (NSWS). This marks a major leap in Ease of Doing Business (EoDB) in the Union Territory. Lieutenant Governor Shri Manoj Sinha launched the J&K Single Window Clearance System integrated […]

PM CARES Fund:   The PM CARES Fund collected ₹10,990 crore since its inception in March 2020 until March 2021. It spent ₹3,976 crore during the 2020-21 financial year, according to the audited financial statement posted on its website. As on March 31, 2021, the Fund had an unspent balance of ₹7,044 crore. The Fund […]

Post Devolution Revenue Deficit (PDRD) Grant:   Ministry of Finance has released the monthly Post Devolution Revenue Deficit (PDRD) Grant of 9, 871 crore rupees to 17 States. This was the 11th installment of the PDRD grant released to the States. Ministry of Finance said that the grants are released to the States as per […]

Green Bonds:   Finance Minister Nirmala Sitharaman in her Budget speech announced that the government proposes to issue sovereign green bonds to mobilise resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy. Now, the government has clarified that these rupee-denominated papers […]

Promoting Blue Economy:   The union minister of science and technology and earth science said that the Blue Economy is the sixth dimension of Government of India’s Vision of New India by 2030. A Draft Policy document on Blue Economy has been prepared by the Ministry Of Earth Sciences taking into consideration the reports of […]