Ombudsperson App For Mahatma Gandhi NREGA: Union Minister for Rural Development Giriraj Singh launched Ombudsperson App for Mahatma Gandhi NREGA. Ministry of Rural Development has developed an Ombudsperson App for smooth reporting and categorization of grievances by Ombudsperson based on complaints he received from various sources viz. physical, digital and mass media, related to […]
Category: Economics Current Affairs
SPMCIL Declared A Prohibited Place
SPMCIL Declared A Prohibited Place: The Delhi headquarters of the Security Printing and Minting Corporation of India Ltd. (SPMCIL) has been declared a “prohibited place” under the Section 2 of the Official Secrets Act, 1923 by the Union Home Ministry “to prevent the entry of unauthorised persons”. The Security Printing & Minting Corporation of […]
What is the Angadia System?
The Angadia System: An FIR has been registered against three Mumbai Police officials for allegedly threatening Angadias and extorting money from them in south Mumbai. Earlier this month, an Angadias shop in Mulund was looted by a gang of robbers. The Angadia system is a century-old parallel banking system in the country where traders […]
25th Meeting Of The Financial Stability And Development Council
25th Meeting Of The Financial Stability And Development Council: The 25th meeting of the Financial Stability and Development Council (FSDC) was held in Mumbai, under the Chairpersonship of Union Finance Minister Nirmala Sitharaman. It was setup in 2010 by Indian Government as an executive body. It replaced the High Level Coordination Committee on Financial […]
National Means-Cum-Merit Scholarship (NMMSS)
National Means-Cum-Merit Scholarship (NMMSS): Government has approved the continuation of Central Sector National Means-cum-Merit Scholarship (NMMSS) over the 15th Finance Commission cycle for a period of five years i.e. from 2021-22 to 2025-26 with financial outlay of Rs. 1827.00 crore. The scheme has been approved with minor modifications in eligibility criteria such as increasing […]
Non Fungible Tokens: Total Sales in 2021
Non Fungible Tokens: According to a report, the sales of Non-Fungible Tokens (NFTs) surged USD 25 billion in 2021 as the crypto asset exploded in popularity. However, some experts believe NFTs are a bubble that might pop. NFTs are Anything that can be converted into a digital form can be an NFT. Everything from drawings, […]
Financial Action Task Force on Pakistan
Financial Action Task Force: Pakistan’s efforts to investigate and prosecute leaders of UN-designated terror groups in order to counter terror financing will be assessed during the ongoing meetings of the Financial Action Task Force (FATF) in Paris. The multilateral financial watchdog will announce whether Pakistan is to be retained in the grey list, or […]
Academic Bank Of Credit Implementation Date
Academic Bank Of Credit: The Academic Bank of Credits (ABC) is expected to be implemented from this academic year. However, this scheme has many pros and cons and there are issues which still need to be addressed before it gets implemented. ABC will affect organised, systematic learning: Students may find it difficult to change […]
Non-Banking Financial Companies
Non-Banking Financial Companies: The Reserve Bank of India extended the timeline by six months for Non-Banking Financial Companies to adhere to the new NPA recognition norms. Earlier the regulator had set March 31 deadline for non-bank lenders to upgrade NPAs only after all arrears and principal dues are paid. It said that NBFCs will have […]
Accreditation Of Higher Educational Institutions: NAAC
Accreditation Of Higher Educational Institutions: The National Assessment and Accreditation Council (NAAC) has relaxed the eligibility criteria for accreditation of higher educational institutions. The new guidelines drawn up by the NAAC, which is an autonomous body under the UGC, allow newer institutions — those with one academic year or more — to apply for […]
