Universal Postal Union: The Union Cabinet has approved the ratification of amendments to the Constitution of the Universal Postal Union (UPU) as contained in the Eleventh Additional Protocol to the Constitution signed during the 27th Congress of the Universal Postal Union held at Abidjan (Cote d’Ivoire) from 9-27 August, 2021. The approval enables the Department […]
Category: Economics Current Affairs
Food Inflation
Food Inflation: The UN Food and Agriculture Organization’s Food Price Index (FFPI) averaged 140.9 points in July 2022, 8.6% down from its previous month’s level and marking the steepest monthly drop since October 2008. It is expected that Food Inflation may ease faster than expected. It is a measure of the monthly change in international […]
What Is Counterfeit Money?
What Is Counterfeit Money? The Ministry of finance has informed Lok Sabha that the value of counterfeit currency in the banking system reduced from Rs 43.47 crore in 2016-17 to about Rs 8.26 crore in 2021-22. Counterfeiting, manufacture of false money for gain, a kind of forgery in that something is copied so as to […]
Governing Council Of NITI Aayog
Governing Council Of NITI Aayog: Addressing the seventh meeting of the Governing Council of NITI Aayog at Rashtrapati Bhawan Cultural Centre, New Delhi, the Prime Minister Narendra Modi heralded the collective efforts of all the States in the spirit of cooperative federalism as the force that helped India emerge from the Covid pandemic. The Governing […]
RBI Monetary Policy Committee Meeting
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 […]
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 […]
