Canada, Japan, UK, EU question India’s quality control orders at WTO Subject: Economy Section: External Sector What is the issue? Canada, Japan, the UK and the European Union have raised concerns at the WTO about the increasing number of quality control orders (QCOs) being issued by India across sectors such as toys, tyres, […]
RBI’s repo rate pauses Subject : Economy Section: Monetary policy Concept : The RBI has raised the repo rate by 250 basis points (bps) since May 2022, thereby increasing the external benchmark-based lending rate (EBLR), by 250 bps. The hike in Repo Rate was in a bid to rein in inflation. Banks have […]
RBI to set up portal to search across multiple banks for unclaimed deposits Subject : Economy Section: Monetary Policy What is the news? The Reserve Bank of India (RBI) has decided to develop a centralised web portal for public to enable search across multiple banks for possible unclaimed deposits based on user inputs. How will it […]
FM review financial inclusion schemes Subject: Economy Section: Monetary Policy Context: The review meeting, which will be chaired by DFS Secretary Vivek Joshi, will cover Jansuraksha Schemes, Pradhan Mantri Mudra Yojana, Stand UP India and PM SVANidhi scheme, sources said. PM SVANidhi scheme It is a special micro-credit facility scheme for providing affordable loan […]
Open-Source Seeds Movement Subject : Economy Section: Concept : As public sector breeding declined and the private sector began to dominate the seed sector, the need for alternatives became keenly felt to safeguard the plant varieties and indigenous seeds. Background Farmers have innovated and shared seeds without any intellectual property rights (IPR) claims […]
The NPCI’s new circular on levy charges Subject : Economy Section: Monetary Policy Concept : The National Payments Corporation of India (NPCI), which governs the Unified Payment Interface (UPI), directed the banks that they can now levy charges on merchant transactions made via Prepaid Instrument wallets using UPI. As these directions by NPCI […]
MPC may hike repo rate by 25 bps before a pause Subject: Economy Section: MONETARY POLICY Context: Against the global balancing act between hiking interest rates, withdrawing systemic liquidity and the series of recent bank failures, the Reserve Bank of India’s Monetary Policy Committee (MPC) is likely to raise the policy rate by another 25 bps in its first bimonthly monetary policy for FY24, taking cognizance of the contagion impact on the Indian economy Can policy rate hikes alone control inflation? Inflation numbers for the first two months of 2023 have once again crossed the 6 per cent barrier […]
India and Malaysia can now use Indian rupee to settle trade, says MEA Subject: Economy Section: External Sector What has happened? India and Malaysia have agreed to settle trade in the Indian rupee, the Ministry of External Affairs announced on Saturday How it will happen? The India International Bank of Malaysia(IIBM) has already operationalized […]
Zee insider trading: Sebi bans 3 individuals from securities market Subject :Economy Section: Financial market SEBI has barred three individuals from the securities market for two years and imposed penalty totalling Rs90 lakh on the mina case pertaining to insider trading activities in the scrip of Zee Entertainment Enterprises Ltd (ZEEL). Insider Trading […]
India’s unemployment rate rises to 3-month high of 7.8% in March Subject: Economy Section: Unemployment and Inflations Context: India’s unemployment rate rose to a three-month high in March to 7.8percentasthecountry’slabour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Concept: Unemployment rate is defined as the percentage of persons […]