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 […]
Category: Economics Current Affairs
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 […]
What is an Initial Public Offering (IPO)?
Initial Public Offering (IPO): An IPO or initial public offering is the process by which a privately held company, or a company owned by the government such as LIC, raises funds by offering shares to the public or to new investors. Following the IPO, the company is listed on the stock exchange. While coming […]
Grants For Non-Million Plus Cities
Grants For Non-Million Plus Cities: Department of Expenditure, Ministry of Finance released an amount of 1154.90 crore rupees to four states for providing grants to Urban Local Bodies. The States to which grants were released are Andhra Pradesh, Bihar, Gujarat, and Sikkim. The grants released are meant for Non-Million Plus cities including Cantonment Boards. […]
Agri-cess on Crude Palm Oil (CPO)
Crude Palm Oil (CPO): With a view to check any further rise in the prices of domestic edible oils due to rise in the prices of edible oils globally, the Government of India has reduced the agri-cess for Crude Palm Oil (CPO) from 7.5% to 5% with effect from 12th February, 2022. After reduction […]
Repo Rate Unchanged
Repo Rate Unchanged: The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept key policy rates – Repo rate, Reverse repo rate and the Bank rate – unchanged and retained the accommodative policy stance. This is the tenth consecutive time that the repo rate has remained unchanged. The central bank […]
