E-Rupee: The Reserve Bank of India (RBI) will soon commence pilot launches of Central Bank Digital Currency (CBDC), referred to as Digital Rupee (e₹), for specific use cases. The RBI in its concept note detailed various aspects including the technological measures to operationalise its electronic currency, its underlying digital infrastructure and various technological options the […]
Category: Economics Current Affairs
Quality Council Of India (QCI)
Quality Council Of India (QCI): The Quality Council of India is set to celebrate its Silver Jubilee at the Ambedkar International Centre in New Delhi Quality Council of India was set up in 1997, jointly by the Government of India and the Indian Industry represented by the three premier industry associations i.e. Associated Chambers of […]
Windfall Tax
Windfall Tax: The government recently cut the windfall tax on domestically-produced crude oil to Rs 8,000 per tonne from Rs 10,500, and halved the levy on export of diesel to Rs 5 per litre. The taxes were introduced on July 1, as the Centre felt that elevated crude prices were allowing oil companies to make […]
National Disaster Management Authority (NDMA)
National Disaster Management Authority (NDMA): The National Disaster Management Authority (NDMA) celebrated its 18th Formation Day on 28th September, 2022. Theme 2022: Volunteerism in Disaster Management. The National Disaster Management Authority (NDMA) is India’s apex statutory body for disaster management. The NDMA was formally constituted on 27th September 2006, by the Disaster Management Act, 2005. […]
Scheme Special Assistance To States For Capital Investment For 2022-23
Scheme Special Assistance To States For Capital Investment For 2022-23: The Government has launched a Scheme Special Assistance to States for Capital Investment for 2022-23. Under this Scheme, financial assistance is provided to the States Governments in the form of 50-year interest free loan for capital investment projects. For the 2022-23 Financial Year (FY) a […]
Popular Front Of India (PFI)
Popular Front Of India (PFI): The Central Government has declared Popular Front of India (PFI) and its associates and affiliates as an unlawful association with immediate effect for a period of five years. Union Home Ministry said the PFI and its associates and affiliates including Rehab India Foundation, Campus Front of India, All India Imams […]
Foreign Trade Policy By Six Months
Foreign Trade Policy By Six Months: The Union Commerce Ministry announced the extension of the existing foreign trade policy by six months. The reason behind the development is currency volatility and global uncertainty. The ministry said, the geo-political situation is not suitable for long-term foreign trade policy. Earlier, the government had extended the due date […]
Fund Of Funds For Startups
Fund Of Funds For Startups: Fund of Funds for Startups (FFS), launched under Startup India initiative in 2016 by the Prime Minister Narendra Modi has committed Rs. 7,385 crore to 88 Alternative Investment Funds (AIFs) as of 24th September 2022. These AIFs in turn have invested Rs. 11,206 crore in 720 startups. FFS has been […]
Banking System Liquidity
Banking System Liquidity: For the first time since May 2019, the banking system liquidity situation turned into a deficit mode of Rs 21,873.4 crore on September 20, 2022. Liquidity in the banking system refers to readily available cash that banks need to meet short-term business and financial needs. On a given day, if the banking […]
Rural Electrification Corporation : Maharatna Status
Rural Electrification Corporation : Maharatna Status Rural Electrification Corporation (REC) has been accorded the status of a ‘Maharatna’ Central Public Sector Enterprise (CPSE). REC is a Non-Banking Financial Company (NBFC), incorporated in 1969, focusing on Power Sector Financing and Development across India. It comes under the purview of the Ministry of Power. It has been […]
