Rupee volatility declines to multi-decade low Subject : Economy Section: External Sector Key Points: The volatility of the rupee has touched multi-decade lows in June. (volatility is a measure of the variation in the value of any variable/parameter, here it is the forex rate) The stability of the Rupee within the 81-83 band […]
RBI seeks easier write-off norms after ED notice to exporters Subject : Economy Section: Monetary policy In News: Exporters receiving Enforcement Directorate (ED) notices for alleged violation of foreign exchange norms in reference to their unpaid receivables. Key Points: RBI has recommended that the central government relax write-off norms related to unpaid receivables […]
National Bank for Financing Infrastructure and Development (NABFID) Subject: Economy Section: National Income Context: NaBFID plans to raise up to Rs 52,000 crore in funding during FY24. Concept : NBFID will be set up as a corporate body with authorised share capital of one lakh crore rupees. Objectives: To directly or indirectly lend, invest, […]
RBI conducts VRR Auction to boost liquidity in view tax outflows Subject :Economy Section: Monetary Policy Key Points: Banks were facing reduced liquidity owing to advance tax and indirect tax payments. The overnight call money rates were above the repo rate of 6.5%. RBI conducted a Variable rate repo (VRR) auction for Rs. […]
Impact of Rs. 2000 note withdrawal Subject :Economy Section: Monetary Policy Context: Withdrawal of the Rs. 2,000 denomination may improve certain economic parameters, says SBI report. According to the SBI report, the withdrawal of ₹2,000 currency notes can have a positive impact on the economy through various channels: Enhanced Bank Deposits: Banks were […]
FM Sitharaman suggests special outreach camps in credit deficient districts Subject : Economy Section: Monetary Policy Concept : Finance Minister Nirmala Sitharaman on Monday chaired a consultative committee meeting on financial inclusion and suggested special outreach camps in credit-deficient districts in each state. In the meeting of the committee attached to the Ministry […]
SGX Nifty rebranded GIFT Nifty World Subject : Economy Section: Capital market Concept : The popular SGX Nifty will cease operations at the Singapore Exchange later this month and will start trading as GIFT Nifty with trading time of almost 21 hours per day at GIFT IFSC in Gujarat from July 3. The […]
Surplus liquidity in banking drops 43% due to advance tax payments Subject : Economy Section: Fiscal policy Concept : Surplus liquidity in the banking system declined 42.9 per cent to Rs 1.04 lakh crore on June 18 from Rs 1.82 lakh crore on June 11 due to advance tax payments. Liquidity in the […]