Ways And Means Advances (WMA): The Reserve Bank of India (RBI) decided to continue with the existing interim Ways and Means Advances (WMA) scheme limit of ₹51,560 crores for all States/ UTs shall for six months i.e., up to September 30, given the prevalence of COVID-19. Ways and means advances (WMA) is a mechanism used […]
Category: Economics Current Affairs
India’s Crude Oil Production And Natural Gas Output Declined
India’s Crude Oil Production And Natural Gas Output Declined: According to the latest government data India’s crude oil production and natural gas output declined in the Financial Year (FY) 2020-2021. India’s crude oil and natural gas production have been falling consistently since 2011-12. Decline in Production: Crude Oil Production: Declined by 5.2% as private and […]
India On The Watchlist For Currency Manipulators
U.S. Government’s Decision To Put India On The Watchlist For Currency Manipulators: Union Commerce Secretary questioned the rationale behind the U.S. government’s decision to put India on the watchlist for currency manipulators and said the list constituted an intrusion into the policy space needed by central banks around the world to meet their mandates. The […]
The Council Of The European Union
The Council Of The European Union: The Council of the European Union approved conclusions on a European Union strategy for cooperation in the Indo-Pacific to reinforce its strategic focus to contribute to regional stability at a time of “rising challenges and tensions in the region. The Council tasked the High Representative and the Commission with […]
Britcoin : Digital Currency Of Britain
Britcoin: British authorities are exploring the possibility of creating a Central Bank Digital Currency, being touted as “Britcoin.” It is a step towards future-proofing Pound Sterling (currency of the United Kingdom) against cryptocurrencies and improving the payments system. About Britcoin: In the wake of declining cash payments in the country partly due to the Corona […]
Committee on Asset Reconstruction Companies (ARCs): RBI
Asset Reconstruction Companies (ARCs): The RBI has set up a committee headed by Sudarshan Sen to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements. Terms of reference: To review the existing legal and regulatory […]
What are On-Tap Licences? RBI
On-Tap Licences To Set Up Universal Banks And Small Finance Banks: Eight institutions and individuals have applied for on-tap licences to set up universal banks and small finance banks, the Reserve Bank of India (RBI) said. This comes weeks after RBI set up an advisory panel, led by former deputy governor Shyamala Gopinath, to evaluate […]
Regulatory Review Authority, 2.0: RBI
Regulatory Review Authority, 2.0: The Reserve Bank of India (RBI) announced the setting up of a regulatory review authority, RRA 2.0, to review its regulations internally and in consultation with other stakeholders. Deputy governor M Rajeshwar Rao has been appointed as the head of the RRA 2.0 which would be set up for a period […]
Dogecoin Cryptocurrency : Important Points
Dogecoin: Just as the virtual currencies Bitcoin and Ethereum have surged in value this week, so has Dogecoin– a cryptocurrency started in 2013 as an internet parody. Based on the “Doge” meme and started as a “fun” alternative to Bitcoin, Dogecoin’s value has risen phenomenally this week and now valued at $34 billion. The digital […]
UN Food Systems Summit 2021
UN Food Systems Summit 2021: India Holds National Dialogue on UN Food Systems Summit 2021. The United Nations Secretary-General has called for the first-ever UN Food Systems Summit to be held in September 2021. It seeks to strategize the actions for positive change in Agri-food systems in the World to realize the vision of the […]
