Daily Prelims Notes 21 June 2024 1. JP Morgan Forecasts Doubling of Foreign Holdings in Indian Government Bonds Sub: Economy Sec: EXTERNAL Sector Overview: JP Morgan predicts non-resident holdings of India Government Bonds (IGBs) to nearly double from the current 2.5% to over 4.4% in the next year. This prediction is due to […]
India and the U.S. work out strategies to scale up collaboration on critical minerals under iCET Sub: IR Sec: Bilateral Relations India-U.S. Cooperation on Critical Minerals India and the U.S. are aiming to quickly finalize a bilateral agreement to enhance cooperation on critical minerals. The focus is on supply chains for graphite, gallium, […]
Decline in Inequality: Is it a Good Thing? – Debroy’s Insights Sub: Economy Sec: National Income and Indian economy Key Points: Review of Poverty Line: Bibek Debroy, the Chairman of the Prime Minister’s Economic Advisory Council (PMEAC), suggests a need to revisit India’s official poverty line. The current poverty line, based on the […]
Insurance Body Seeks Cut in GST on Health Policies Sub: Economy Sec: Fiscal Policy Key Points: Reduction in GST: The Confederation of General Insurance Agents’ Associations of India has urged the government to reduce GST on individual health insurance policies from 18% to 5%. This reduction aims to encourage people to avail health […]
RBI Cancels Licence of City Co-operative Bank Sub: Economy Sec: Monetary Policy Key Points: Licence Cancellation: The Reserve Bank of India (RBI) has cancelled the licence of The City Co-operative Bank Ltd, Mumbai. The cancellation is due to the bank not having adequate capital and earning prospects. Banking Operations Cease: As a result […]
Climate activists vandalise Stonehenge monument Sub: Economy Sec: Monetary Policy Context: Climate activists from the ‘Just Stop Oil’ group sprayed orange powder on the prehistoric Stonehenge monument, at Stonehenge, Wiltshire, England. The act occurred a day before the summer solstice, a significant time when crowds gather at the site for rituals. Details of […]
Russia, N. Korea sign defence pact, vow to assist each other if attacked Sub: Economy Sec: Monetary Policy Russia-North Korea Mutual Defence Pact: Russian President Vladimir Putin and North Korean leader Kim Jong-un signed a partnership agreement promising mutual aid against aggression. The deal includes a clause requiring the countries to come to […]
What are the findings of the 2024 Hindu Kush Himalayas snow update? Sub: Economy Sec: Monetary Policy Record Low Snow Persistence in the Ganga River Basin: The Ganga River basin recorded its lowest snow persistence, with similar declines in the Brahmaputra and Indus basins, threatening the water supply to millions. This as a […]
India’s ‘heat trap’ cities make summers worse, says government official Sub: Economy Sec: Monetary Policy Unbalanced Urban Growth: Indian cities are becoming “heat traps” due to unbalanced growth, reducing water bodies, and increasing greenhouse gas emissions. Wetlands and water bodies have diminished, and permeable spaces have decreased significantly. Scorching Summer Impact: India faces […]
Highest minimum temperature: Why Delhi’s warm nights are cause of worry Sub: Geography Sec : Climatology Context: Delhi recorded its highest minimum temperature since 1969 on Tuesday, reaching 35.2°C. Details: The city is experiencing unusually high day and night temperatures, with seven heatwave days in June and six consecutive warm nights. The previous […]