Credit Rating Agencies Subject: Economy Context: Capital markets regulator Sebi gave fresh guidelines to standardise the usage of rating scales used by Credit Rating Agencies (CRAs). Guidelines: The regulator has specified standard descriptors for rating watch and rating outlook. ‘Rating outlook’ indicates CRA’s view on the expected direction of the rating movement in […]
Fifty Years of Indian Banking Through the Lens of Basic Statistical Returns –‘BSR@50’ Subject: Economy Context: In order to reduce the reporting burden on banks, they will soon be required to submit only two quarterly BSR (Basic Statistical Return) reports on credit and deposits effective March 2023, according to the Reserve Bank of […]
TRIPS Subject: Science and Technology Context: WTO’s TRIPS council to meet on IP waiver extension for Covid diagnostics and therapeutics this week to reach a decision on the crucial issue by the deadline of December 17. Details: At the 12th WTO Ministerial Conference a temporary IP waiver for Covid-19 vaccines extended under specific […]
RBI e-rupi Subject: Economy Context: The Reserve Bank of India (RBI) announced that the first pilot in the Digital Rupee, or e-rupee, will commence in government securities from November 1, 2022. Details: It will make the inter-bank market more efficient–Settlement in central bank money would reduce transaction costs by preventing the need for […]
EPFO Norms Subject: Economy Context: EPFO relaxes withdrawal norms for EPS-95 subscribers. Details–various changes approved It allowed withdrawal of accumulations in Employees’ Pension Scheme 1995 for those subscribers who have only less than six months of service left. Earlier, subscribers who have less than six months of service left were allowed to withdraw […]
Government Spending Subject: Economy Context: Rise in incremental spending–Govt stares at a steeper fiscal challenge. Challenges in meeting the fiscal deficit target-fiscal deficit target of 6.4 per cent of the GDP for 2022-23. Additional expenditure sources: Rozgar Mela — a recruitment drive for 10 lakh personnel across 38 ministries and departments. Increase in […]
Yamuna frothing: What causes froth in the river and why is it dangerous Subject : Environment Context- Froth in Yamuna: A layer of froth seen was floating over parts of the Yamuna river near Kalindi Kunj. Location of frothing in yamuna- The frothing is seen only near Kalindi Kunj, downstream of the Okhla […]
How suspension bridges work, and what could have happened in Gujarat’s Morbi Subject: Science and Technology Context: How suspension bridges work, and what could have happened in Gujarat’s Morbi The bridge that collapsed in Gujarat’s Morbi on Sunday killing at least 134 people, was a suspension bridge — a type in which the […]
GM mustard field trials to begin from rabi season Subject: Science and Technology Context- The field trials of the GM mustard hybrid DMH-11, which has been granted approval for ‘environmental release’ by the Genetic Engineering Appraisal Committee (GEAC) recently, will begin from the ongoing rabi season. More on news- The trials, known as […]
Ban use of aceclofenac on cattle to save vultures Subject: Environment Context: Indian Veterinary Research Institute (IVRI) has demanded a ban on using aceclofenac in cattle after a new study showed that the drug metabolises into diclofenac in water buffaloes — as it does in cows. Concept: The researchers gave the recommended dose […]