Category: Economics Current Affairs

First Set Of Guidelines For Digital Lending : RBI The Reserve Bank of India (RBI) issued the first set of guidelines for digital lending, to crack down on illegal activities by certain players. Towards addressing concerns that had sprung up, the RBI had constituted a Working Group on ‘digital lending including lending through online platforms […]

National Intellectual Property Awareness Mission: National Intellectual Property Awareness Mission (NIPAM) has achieved target of imparting Intellectual Property (IP) awareness and basic training to 1 million students on 31st July 2022, ahead of the deadline which was 15 August 2022. NIPAM, a flagship program to impart IP awareness and basic training, was launched on 8 […]

Chit Fund: Rates of GST on the chit funds have been raised from the earlier 12% to 18%. This may raise the borrowing cost and benefits out of the chit fund. A chit fund is a close-ended group lending scheme. It is called ‘Chit Fund’ as a piece of paper is used for writing a […]

Digital Currency: According to a recent study by the United Nations Trade and Development Body (UNCTAD), over 7% of India’s population owned Digital Currency in 2021. India was ranked seventh in the list of top 20 global economies for digital currency ownership as share of population. Developing countries accounted for 15 of the top 20 […]

Blue Bonds: SEBI has proposed the ‘blue bonds’ for sustainable finance Blue bond: It will be a debt instrument to support investments in healthy oceans and blue economies (i.e. use of ocean resources for economic growth)- sustainable exploitation of ocean resources, fishing, and extracting renewable energy. It will catalyse progress towards SDG 14 (Life Below […]

Gold Exchange Traded Funds: In July 2022, Gold Exchange Traded Funds (ETFs) witnessed a net outflow of Rs 457 crore as investors parked their money in other asset classes as part of their portfolio rebalancing strategy. This was in comparison to a net inflow of Rs 135 crore in June 2022. Gold Exchange Traded Funds […]

Centre Releases ₹1.16 Lakh Crores To States: The Centre released over ₹1.16 lakh crore to the States, equivalent to two monthly instalments of tax devolution, to help front-load State governments’ capital spending abilities in this financial year. Coming soon after the expiry of the assured Goods and Services Tax (GST) compensation to States from this […]

Universal Postal Union: The Union Cabinet has approved the ratification of amendments to the Constitution of the Universal Postal Union (UPU) as contained in the Eleventh Additional Protocol to the Constitution signed during the 27th Congress of the Universal Postal Union held at Abidjan (Cote d’Ivoire) from 9-27 August, 2021. The approval enables the Department […]

Food Inflation: The UN Food and Agriculture Organization’s Food Price Index (FFPI) averaged 140.9 points in July 2022, 8.6% down from its previous month’s level and marking the steepest monthly drop since October 2008. It is expected that Food Inflation may ease faster than expected. It is a measure of the monthly change in international […]

What Is Counterfeit Money? The Ministry of finance has informed Lok Sabha that the value of counterfeit currency in the banking system reduced from Rs 43.47 crore in 2016-17 to about Rs 8.26 crore in 2021-22. Counterfeiting, manufacture of false money for gain, a kind of forgery in that something is copied so as to […]