India’s Economic Growth Data: The Ministry of Statistics and Programme Implementation (MoSPI) released India’s economic growth data for the second quarter of the current financial year (2022-23 or FY23). The second quarter or Q2 refers to the months of July, August and September. India’s Gross Domestic Product (GDP) grew by 6.3 per cent in Q2 […]
Category: Economics Current Affairs
Saharsa(Bihar) : First District To Be Declared Paperless
Saharsa(Bihar) : First District To Be Declared Paperless Saharsa became the first district in Bihar to be declared paperless (e-office) with an aim to end the Great Indian Red Tape. Red Tape: It is a derisive term for excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or […]
First Pilot For The Retail Digital Rupee : RBI
First Pilot For The Retail Digital Rupee : RBI The Reserve Bank of India announced the launch of the first pilot for the retail digital Rupee on 1st December 2022. Eight banks have been identified for phase-wise participation in this pilot. The first phase will begin with four banks including State Bank of India, ICICI […]
FIRSTAP : India’s First Sticker-Based Debit Card
FIRSTAP : India’s First Sticker-Based Debit Card IDFC First Bank, in association with the National Payments Corporation of India (NPCI), recently launched FIRSTAP – India’s first sticker-based debit card. The IDFC FIRST Bank was established following the merger of the erstwhile IDFC Bank A sticker-based debit card allows the user to make transactions by simply […]
Data On Daily Wage Payments In India : RBI
Data On Daily Wage Payments In India : RBI The Reserve Bank of India (RBI) released data on daily wage payments in India. Findings: In Madhya Pradesh (MP), male agricultural workers in rural areas got a daily wage of just Rs 217.8 while in Gujarat, it worked out to Rs 220.3 in the year ended […]
NIEPA : Diamond Jubilee Anniversary
NIEPA : Diamond Jubilee Anniversary National Institute of Educational Planning and Administration (NIEPA) recently celebrated the Diamond Jubilee anniversary of its establishment. It was established by the Ministry of Human Resource Development (now Ministry of Education), Government of India. It is a premier organization dealing with capacity building and research in planning and management of […]
First Greenfield Airport In Arunachal Pradesh
First Greenfield Airport In Arunachal Pradesh: Prime Minister Narendra Modi inaugurated the first Greenfield airport in Arunachal Pradesh — the Donyi Polo Airport at Itanagar. With Donyi Polo Airport, all eight northeastern state capitals will now have airports. This will be the third operational airport in Arunachal Pradesh. The name of the airport reflects […]
Expansion Of National Investment And Infrastructure Fund
Expansion Of National Investment And Infrastructure Fund: The Union Finance Minister has recently urged the National Investment and Infrastructure Fund (NIIF) to expand its operations and explore ways to crowd in private capital for projects under the National Infrastructure Pipeline, PM Gati Shakti and National Infrastructure Corridor NIIF is an investor-owned fund manager, anchored by […]
What Is Vostro Account?
What Is Vostro Account? The Reserve Bank of India (RBI) has allowed the opening of nine special vostro accounts in two Indian Banks (UCO Bank and IndusInd Bank) for the settlement of payments in rupee for trade between India and Russia. Russia’s two largest banks — Sberbank and VTB Bank — are the first foreign […]
Financing India’s Urban Infrastructure : World bank
Financing India’s Urban Infrastructure : World bank The report, titled “Financing India’s Urban Infrastructure Needs: Constraints to Commercial Financing and Prospects for Policy Action” was released by the World bank. The report underlines the urgent need to leverage more private and commercial investments to meet emerging financial gaps. Highlights of the Report: India will […]
