Category: Economics Current Affairs

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 […]

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 […]

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: 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: 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: 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 […]

E-visa For Tourists: The Union Home Ministry has restored the electronic visa (e-visa) facility for foreigners from 156 countries who intend to visit India for business, conferences, and medical reasons, including for medical attendants. E-visa for tourists is yet to be restored. An e-visa is provided in five categories — tourist, business, conference, medical, and […]

National Internet Exchange Of India (NIXI): Ministry of Electronics & Information Technology (MeitY) inaugurated three initiatives for the National Internet Exchange of India (NIXI). IPv6 Expert Panel (IP Guru): IP Guru is a group to extend support to all the Indian entities who are finding it technically challenging to migrate and adopt IPv6. It’s a […]

The First Meeting Of The National Startup Advisory Council (NSAC): The first meeting of the National Startup Advisory Council (NSAC) was held recently. National Startup Advisory Council constituted by the ‘Department for Promotion of Industry and Internal Trade (DPIIT). Its role is to advise the Government on measures needed to build a strong ecosystem for […]

Regional Comprehensive Economic Partnership (RCEP) Pact: Singapore’s Foreign Minister Vivian Balakrishnan recently said that he hoped India would “reassess” its stand on regional trading agreements such as the Regional Comprehensive Economic Partnership (RCEP) pact that India withdrew from in 2019. India had “a crucial role” to play in helping the region build an inclusive architecture […]