Neobank : 100th Unicorn In The Country India’s wave of unicorns reaches an all-time high with Neobank Open becoming the 100th unicorn in the country. Neobank startup, OPEN becomes the 100th unicorn in India with the latest funding of 50 million dollars from IIFL along with existing investors. The Indian Startup Ecosystem, the third-largest in […]
Category: Economics Current Affairs
Repo Rate Increased
Repo Rate Increased: The Reserve Bank of India (RBI) raised the repo rate by 40 basis points (bps) to 4.4% citing inflation that was globally “rising alarmingly and spreading fast”. Monetary Policy Committee (MPC) had in an off-cycle meeting reviewed the latest economic developments including the impact of the war in Ukraine and decided to […]
Nomination Of Rajiv Ranjan As Ex-Officio Member Of Monetary Policy Committee
Nomination Of Rajiv Ranjan As Ex-Officio Member Of Monetary Policy Committee: The Central Board of Directors of Reserve Bank of India (RBI) has approved nomination of Rajiv Ranjan as ex-officio member of Monetary Policy Committee (MPC). The Reserve Bank of India Act, 1934 was amended by Finance Act (India), 2016 to constitute MPC. It is […]
National Open Access Registry (NOAR)
National Open Access Registry (NOAR): National Open Access Registry (NOAR) has successfully gone live from 1st May 2022. NOAR is an integrated single window electronic platform accessible to all stakeholders including open access participants, traders, power exchanges, national/regional/state load despatch centres for electronic processing of short-term open access application thereby automating the administration of the […]
India’s Forex Reserves : Data
India’s Forex Reserves: India’s foreign exchange (forex) reserves declined for the seventh consecutive week. Forex or foreign exchange reserves are assets held by the central bank in foreign currencies as a reserve. According to the latest data from the Reserve Bank of India (RBI), India’s forex reserves stood at $600.42 billion as of April 22, […]
State Of Employment In India
State Of Employment In India: According to the latest data from the Centre for Monitoring Indian Economy (CMIE), India’s labor force participation rate (LFPR) has fallen to 40% from 47% in 2016. According to the Centre for Monitoring Indian Economy (CMIE), the labor force consists of persons who are of age 15 years or older, […]
RBI’s Report On Currency And Finance
RBI’s Report On Currency And Finance: According to recent Reserve Bank of India’s (RBI) Report on Currency and Finance (RCF), the Indian economy may take more than a decade to overcome the losses caused by the outbreak of Covid-19 pandemic. The theme of the report is “Revive and Reconstruct” in the context of nurturing a […]
National Curriculum Framework
National Curriculum Framework: Union Education Minister will be launching the Mandate Document of National Curriculum Framework (NCF) on 29th April, 2022. The National Education Policy (NEP), 2020 recommends the development of National Curriculum Frameworks (NCF) in four areas- School Education, Early Childhood Care and Education (ECCE), Teacher Education and Adult Education. For providing inputs for […]
India’s Labour Force Participation Rate
India’s Labour Force Participation Rate: Data from the Centre for Monitoring Indian Economy (CMIE) shows that India’s Labour Force Participation Rate (LFPR) has fallen to just 40% from an already low 47% in 2016. This suggests not only that more than half of India’s population in the working-age group (15 years and older) is deciding […]
India Post Payments Bank
India Post Payments Bank: The union cabinet has approved ₹820 crore financial support for India Post Payments Bank. IPPB was launched by the Prime Minister in 2018 with 100% equity owned by the Government of India. It is a payments bank of the Indian postal department which works through a network of post offices and […]
