Monetary policy committee special meeting Subject: Economy Context: The Reserve Bank of India announced an extra meeting of the Monetary Policy Committee (MPC) on November 3, in addition to the scheduled bi-monthly meetings. Details: As per the meeting schedule of the MPC for FY23, the committee’s next meeting was to be held from December […]
Rising interest rate Subject: Economy Context: Experts opine that banks are in a Catch-22 situation Background: Catch-22 situation-a problematic situation for which the only solution is denied by a circumstance inherent in the problem. In the present context it denotes a situation where banks want to reduce their surplus SLR securities to support […]
Liquidity in system Subject: Economy Context: The Reserve Bank of India (RBI) injected Rs 72,860.7 crore of liquidity into the banking system on October 21 — the highest since April 2019 Details: Liquidity infusion done after on the backdrop of liquidity tightening: Higher demand for credit during the festival season Rise in demand […]
Abuse of dominance Subject: Economy Context: The Competition Commission of India (CCI) has fined Google twice — for abusing its dominant position in the market with its Android mobile operating system (OS) and for anti-competitive policies in its in-app billing and payment processing. Concept: Section 4 of the Competition Act prohibits abuse of […]
Bank notes Subject: Economy Contest: Several Aam Aadmi Party (AAP) leaders asked the government to put pictures of Goddess Lakshmi and Lord Ganesh on currency notes in order to bring “prosperity” to the country. Concept: Indian bank notes and coins: Section 22 of The Reserve Bank of India Act, 1934–RBI the “sole right” […]
Recession Subject: Economy Context: JP Morgan Chase CEO Jamie Dimon and his Goldman Sachs counterpart David Solomon said a recession in the US and Europe is increasingly likely. Content Recession refers to a phase of the downturn in the economic cycle when there is a fall in the country’s GDP for some quarters. […]