RBI Monetary Policy Committee Meeting: The Monetary Policy Committee (MPC) held meeting on August 5, 2022. MPC has decided to: Hike policy repo rate by 50 basis points, under liquidity adjustment facility (LAF). Repo rate now stands at 5.40%. Adjust Standing deposit facility (SDF) rate to 5.15%, marginal standing facility (MSF) rate to 5.65% and […]
Category: Economics Current Affairs
Suresh N Patel : New Chief Of The Central Vigilance Commission
Suresh N Patel : New Chief Of The Central Vigilance Commission The Government appointed Suresh N Patel as the new chief of the Central Vigilance Commission. The Central Vigilance Commission was set up by the Government in 1964 on the recommendations of the Committee on Prevention of Corruption, headed by Shri K. Santhanam, to advise […]
Financial Inclusion Index: RBI
Financial Inclusion Index: RBI The Reserve Bank of India has released the Composite Financial Inclusion Index (FI-Index) for the year ended 31st March 2022. India’s Financial Inclusion Index has improved to 56.4 from 53.9 in the previous year 2021. The improvement has been seen across all its sub-indices (Access, Usage and Equality). Financial Inclusion Index: […]
Revamped Distribution Sector Scheme (RDSS)
Revamped Distribution Sector Scheme (RDSS): RDSS is a reform-based and result-linked scheme to improve the financial sustainability and operational efficiencies of DISCOMs. This is done by financial assistance for the modernization of distribution infrastructure e.g., Smart Prepaid Meters. This is aimed to: Reduce AT&C loss by 12-15% Reduce financial deficit (average cost of supply-average revenue […]
Report On Natural Resource Accounting (NRA)
Report On Natural Resource Accounting (NRA): The Comptroller and Auditor General of India has stated that it would be coming up with report on Natural Resource Accounting (NRA) by November 2022. It is an attempt to develop accounting systems to help monitoring their responsible utilisation, which will in turn lead to sustainability. Natural Resource Accounting […]
Electoral Bonds
Electoral Bonds: The State Bank of India (SBI) shared data reporting that Donations to political parties through electoral bonds (EBs) have crossed the Rs 10,000-crore mark. In the 21st sale of EBs conducted in July 2022, parties received another Rs 389.5 crore from EB purchases. The total amount collected by parties has gone up to […]
Core Sectors
Core Sectors: India’s eight core sectors’ output growth moderated to 12.7% in June, 2022 from 18.1% in May, 2022 with all sectors except crude oil registering an uptick in production. Eight Core Sectors: Coal, Crude Oil, Natural Gas, Refinery Products, Fertiliser, Steel, Cement, Electricity These comprise 40.27% of the weight of items included in the […]
India International Bullion Exchange (IIBX)
India International Bullion Exchange (IIBX): The Prime Minister has laid the foundation stone of the headquarters building of the International Financial Services Centers Authority (IFSCA) in GIFT City, Gandhinagar. The building has been conceptualized as an iconic structure, reflective of the growing prominence and stature of GIFT-IFSC as a leading International Financial Centre. He also […]
RBI’s Digital Payments Index (RBI-DPI)
RBI’s Digital Payments Index (RBI-DPI): Recent data (March 2021-22) from the Index demonstrated significant growth, indicating rapid adoption and deepening of digital payments across the country. About RBI-DPI: Launched in January 2021, it captures the extent of digitisation of payments across the country (with 2018 as a base year- score set as 100) and is […]
Foreign Direct Investment
Foreign Direct Investment: Singapore and USA have emerged as top 2 sourcing nations in Foreign Direct Investment (FDI) equity flows into India in FY 2021-22 followed by Mauritius, Netherland and Switzerland. UNCTAD World Investment Report (WIR) 2022 has ranked India at 7th rank among the top 20 host economies for 2021, in terms of FDI. […]
