Central Bank Digital Currency (CBDC): The Reserve Bank of India (RBI) is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for wholesale and retail segments, an official said. The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to […]
Category: Economics Current Affairs
US Inflation Hit a Record High Of 9.1% In June 2022
US Inflation Hit a Record High Of 9.1% In June 2022: US Inflation hit a record high of 9.1% in June 2022, the highest in 40 years. US observers have argued that the US central bank will not be able to achieve a soft landing for the economy if the yield curve inverts. Start of […]
Jagriti Mascot
Jagriti Mascot: A mascot named Jagriti has been launched by the Department of Consumer Affairs (DoCA) to empower consumers and further generating awareness of their rights. It would be projected as an empowered consumer who is spreading awareness about consumer rights & addressing solutions to the problems faced by the consumers. It would help […]
Global Platform For Disaster Risk Reduction 2022
Global Platform For Disaster Risk Reduction 2022: The Global Platform for Disaster Risk Reduction, 2022 (GP DRR 2022) took place in Indonesia. The outcome was summarised in the Bali Agenda for Reilience Theme: From Risk to Resilience: Towards Sustainable Development For All in a Covid-19 Transformed World. Global Platform was the first global gathering for […]
RBI Seeks Ban On Cryptocurrency
RBI Seeks Ban On Cryptocurrency: The Reserve Bank of India (RBI) has recommended a ban on cryptocurrencies citing ‘destabilising effects’ for the country’s monetary and fiscal health. China has declared all cryptocurrency transactions illegal, effectively imposing a complete ban, whereas El Salvador has permitted Bitcoin as legal tender. At the moment, there is no legislature […]
Forex Reserve
Forex Reserve: Reserve Bank of India (RBI) has undertaken measures to enhance forex inflows, amid Depreciation of Indian rupee. The rupee has depreciated by 4.1 % against the US dollar during the current financial year (2022-23) so far amid the ongoing geopolitical tensions. Indian Rupee has depreciated 4.1 % to 79.30 against the US dollar […]
Goods And Services Tax
Goods And Services Tax: Customers will have to pay a 5% Goods and Services Tax (GST) on pre-packed, labelled food items such as atta, paneer and curd, besides hospital rooms with rents above ₹5,000, starting from 18 July 2022. Hotel rooms with tariffs of up to ₹1,000 a day, maps and charts, including atlases, will […]
Build Operate Transfer Model
Build Operate Transfer Model: For new projects, NHAI will prefer the build-operate-transfer model Under the BOT model, a private player will finance, build and operate a project for a period of time (20 or 30-year period). The developers will be recouping the investments by way of user charges or tolls charged from customers using the […]
India Stack Knowledge Exchange 2022
India Stack Knowledge Exchange 2022: As a part of the Digital India week celebrations, a three day dedicated event titled ‘India Stack Knowledge Exchange’ programme was organised. India Stack refers to ambitious project of creating a unified software platform to bring India’s population into the digital age. India Stack Knowledge Exchange Programme (ISKE): The idea […]
Off-Budget Borrowings
Off-Budget Borrowings: The Centre has relaxed norms for adjusting states’ off-budget loans and said such liabilities of the last fiscal year can be adjusted against their borrowing ceilings for the next four years till March 2026. The move will free up resources for states to fund their capital expenditures in the current fiscal year. As […]
