India’s Foreign Exchange Reserves: India’s foreign exchange reserves now world’s fourth-largest: India’s foreign exchange reserves surpass Russia’s to become the world’s fourth-largest. India’s reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market, and foreign direct investment. India’s foreign currency holdings […]
Category: Economics Current Affairs
What is Prompt Corrective Action Framework of RBI?
Prompt Corrective Action Framework: The Reserve Bank of India has taken IDBI Bank Ltd out of its prompt corrective action list after it found the state-run lender was not in breach of the central bank’s parameters. IDBI Bank was placed under the so-called PCA framework in 2017 over its high bad loans and a negative […]
National Social Assistance Programme (NSAP) : Report
National Social Assistance Programme (NSAP): The Centre must increase the “meagre” pensions provided for poor senior citizens, widows, and disabled people said the Parliamentary Standing Committee on Rural Development in its report submitted to the Lok Sabha. The Committee observed that under the National Social Assistance Programme (NSAP), meagre amount of assistance ranging from ₹200 […]
Rationalisation Of Both Freight And Passenger Fares
Rationalization Of Both Freight And Passenger Fares: The Parliamentary Standing Committee on Railways has suggested rationalisation of both freight and passenger fares. The losses incurred by the railways in passenger services purportedly due to the social service obligations which include pricing tickets at fares lower than costs and passenger concessions. The railways incur losses to […]
Digital Payment Scorecard by MeitY : Key Points
MeitY Digital Payment Scorecard: The Ministry of Electronics & Information Technology (MeitY) has released the list of “Digital Payment Scorecards”. In the list, the State Bank of India (SBI) has topped for the third consecutive months. The digital payment scorecard tracks the performance of the Commercial Banks on several digital parameters. SBI maintained the top […]
What is Haryana’s Quota Law?
Haryana’s Quota Law: The Haryana State Employment of Local Candidates Bill, 2020 requires private companies to set aside for domiciles 75% of jobs up to a monthly salary of Rs 50,000 or as may be notified by the government from time to time. The law is applicable to all the companies, societies, trusts, limited liability […]
OPEC and OPEC Plus Difference
The Opec: OPEC+ has agreed not to increase supply in April as they await a more substantial recovery in demand amid the COVID-19 pandemic. Crude prices rose after the announcement and are up 33% this year. India is the world’s third-biggest oil importer. India imports about 84% of its oil and relies on West Asian […]
Amendment in Insurance Ombudsman Rules 2021
Amendment In Insurance Ombudsman Rules: The government has amended insurance ombudsman rules. As per the new rules: Insurance brokers are now covered under ombudsman rules. Policyholders are now allowed to file online complaints. The scope of complaints has been enlarged to ombudsmen from only disputes earlier to deficiencies in service on the part of insurers, […]
Central Revenues Control Laboratory (CRCL) : Regional Customs Laboratory (RCL)
Central Revenues Control Laboratory (CRCL): Central Revenues Control Laboratory (CRCL), New Delhi was recognized as a Regional Customs Laboratory (RCL) of the World Customs Organisation (WCO) for the Asia-Pacific Region. Central Revenues Control Laboratory (CRCL), New Delhi is under the administrative control of the Central Board of Indirect Taxes & Customs. Established in 1939, […]
Formation & Promotion of 10,000 FPOs – Key Points
‘Formation & Promotion of 10,000 Farmer Produce Organizations (FPOs): The Ministry of Agriculture and Farmers Welfare celebrated the first anniversary of the Central Sector Scheme titled ‘Formation & Promotion of 10,000 Farmer Produce Organizations (FPOs)’. In February 2020, at Chitrakoot (Uttar Pradesh) with a budgetary provision of Rs. 6865 crore. More than 2200 FPOs produce […]
