Money Variables Subject :Economy Context: Note in circulation (NiC) increased by 7.98% as of December 2, 2022. Concept: Currency in Circulation (CiC) refers to currency notes and coins issued by the central bank within a country that is physically used to conduct transactions between consumers and businesses.It is a major liability component of […]
Stabilisation fund and carbon market Subject :Economy Context: India plans to set up a stabilisation fund to make carbon credits attractive. Details: A stabilisation fund will be set up to keep prices of credits in its planned carbon market above a certain threshold. It will ensure that the credit prices remain attractive for […]
Risks associated with private crypto Subject :Economy Context: Reserve Bank of India Governor Shaktikanta Das warned against the private cryptocurrencies that could lead to the ‘next financial crisis’. Concept: Cryptocurrency: A cryptocurrency or crypto, is a virtual currency secured by cryptography. It is designed to work as a medium of exchange, where individual […]
RBI Monetary Policy Subject :Economy Context: A premature pause in monetary policy action would be a costly policy error at this juncture, the RBI governor stated in the MPC minutes. Concept: Monetary policy It refers to the use of monetary instruments under the control of the central bank to regulate magnitudes such as […]
Sovereign Green Bonds framework and ICAI Subject: Economy Context: CA Institute has finalised the assurance standard on sustainability related information which will enable auditors to express an opinion on sustainability related aspects such as green bonds. Details: The resources mobilised by the government through sovereign green bonds will form part of the Centre’s overall […]
18% of Mumbai MSME loans are non-performing assets Subject: Economy Context: OutofRs162,874croreloans taken by MSMEs in Mumbai(including suburban region), Rs 22,579 crore involving 46,978 accounts have turned into NPAs, according to data compiled by the State Level Bankers Committee NPA: A loan becomes NPA when the principal or interest payment remains overdue for […]
National Test House Subject :Economy Context: The Centre’s National Test House (NTH) will set up testing capabilities for testing electric vehicles and EV-charging systems from next fiscal year. Details: It is part of the new initiatives undertaken to make NTH future-ready and garner revenues of ₹30 crore by FY 2024. BIS formulates the […]
Carbon Border Adjustment Mechanism Subject :Economy Context: European Union governments have reached a deal on the world’s first major carbon border tax to make its economy carbon-neutral by 2050. Concept: Carbon Border Adjustment Mechanism: The European Union has proposed a policy — called the Carbon Border Adjustment Mechanism — to tax products that […]
The Basel Committee on Banking Supervision Subject :Economy Context: The Group of Governors and Heads of Supervision endorsed global prudential standards for banks to limit their exposure to crypto. Details: It seeks to limit the exposure of banks to crypto to manage the risks associated with this volatile commodity. Crypto assets are categorized […]
Black hole of public finance: Unequal fiscal burden on citizens Subject: Economy Context: Economic inequality in India impacts every aspect of our everyday lives, despite the country being a welfare state. The poor citizens of India continue to face increased fiscal burden in the form of inflation and higher taxes, with fewer benefits. […]