RBI’s crucial role in energy transition Subject: Economy Section: Monetary policy and Banking RBI’s recent report highlights its key role in mitigating the risks of transitioning to a low-carbon economy. With India’ needing approximately $10 trillion by 2070 meet it’s net-zero target, need to address the climate change risks that can impact the […]
What is affecting trade momentum? Subject : Economy Section: External Sector Concept : According to information, India’s merchandise exports shrunk 12.7% on a year-on-year (YoY) basis to $34.66 billion in April — a six-month low. About The fall in imports and exports is not limited to India as other countries too have recorded […]
Future roadmap for RBI’s CBDC Subject: Economy Section: Monetary policy and Banking Key points: RBI’s annual report shows that ₹10.69 crore of wholesale e-rupee and ₹5.70 crore of retail e-rupee have been issued till March 2023. Retail e-Rupee: Customers appear reluctant to use e-rupee for several reasons: Money transferred to the wallet does […]
RBI Committee for Review of Customer Service Standards Subject: Economy Section: Monetary policy and Banking RBI’s Committee for Review of Customer Service Standards has made several recommendations: Regulatory: Creating a centralised database of KYC documents Consolidating customer service regulations for all regulated entities. Making the Charter of Customer Rights enforceable and extending it […]
Rs 2000 notes withdrawal Subject: Economy Section: Monetary policy and Banking Context: Withdrawal of Rs 2,000 notes could see an infusion of Rs 1-1.8 lakh crore of liquidity over the June-September period, according to a Care Ratings report. Withdrawal of Rs 2,000 notes: While almost the entire Rs 3.6 crore worth of Rs […]
Banks cut FD rates Subject :Economy Section: Monetary Policy Key points: Rate cuts (5-20 bps) on fixed deposits of upto3 year tenure by the larger banks. Smaller banks have smaller deposit base are continuing to increase rates Liquidity of the system was increased by government spending and currency intervention of RBI (Rs. 2000 […]
Government plans Rs. 15 k crore push for batteries Subject: Economy Section: Infrastructure Key points: Government is working to bring a production linked incentive (PLI) scheme worth as much as 15,000 crore to encourage the setting up of grid-scale battery storage. Will be ensured that coverage does not overlap with the existing PLI […]