Power Ministry opposes G7’s plan of energy transition talks with India Subject: Economy Context– The G7 nations’ plan of persuading India to start negotiations on a Just Energy Transition Partnership (JETP), an initiative of the rich nations to accelerate phasing out of coal and reducing emissions has hit a road-block. The Power Ministry […]
Non-deliverable forward (NDF) Subject: Economy Context: The Reserve Bank of India is asking local banks to not build additional positions in the non-deliverable forward (NDF) market to arrest the rupee’s slide Details: In addition to the traditional instruments like forward and swap contracts, the Reserve Bank has facilitated increased availability of derivative instruments […]
Advertising Standards Council of India (ASCI) Subject: Economy Context: The Advertising Standards Council of India (ASCI) said that the Advertising code applies to trademarks, too. Details: It aims to protect consumers from misleading claims made by companies with descriptive trademarks which may be false and dishonest. For instance, a descriptive mark –‘All Wool” […]
Gold prices Subject: Economy Context: The World Gold Council has said that “gold wasn’t the crisis hedge it has often been historically, certainly when measured in US dollars”. Details: Prices of gold have remained low amid high inflation, rising interest rates, and the ongoing war in Ukraine Gold futures fell to their shortest […]
Inter-operable Regulatory Sandbox Subject : Economy Context: The Inter-Regulatory Technical Group on FinTech (IRTG on FinTech) has put in place a common window under the system of Inter-operable Regulatory Sandbox (IoRS). Concept: IRTG has been constituted under the aegis of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) for inter-regulatory coordination […]
PM-DevINE Subject : Economy Context: Cabinet approves Rs 6,600 crore scheme ‘PM-DevINE’ for North-Eastern states. Prime Minister’s Development Initiative for North East Region: It aims to support infrastructure, industries and other livelihood projects in the Northeastern states. The objectives: fund infrastructure convergently, in the spirit of PM Gati Shakti, support social development projects […]
Role of Banking in economic crisis Subject : Economy Context: The nobel prize for economics this year highlighted how failure of banks can aggravate a conventional economic crisis. Details: Ben S Bernanke’s work: It suggested bank failures during the depression sustained and aggravated the depressing conditions for a longer time, covering 1929-1933, in […]