Demonetisation Subject : Economy Context: The Supreme Court said that it will have to examine the 2016 demonetisation decision to come to a conclusion whether the issue has become a mere “academic” exercise. Concept: Demonetisation: It is the act of stripping a currency unit of its status as legal tender. It occurs whenever […]

    Structural Reforms Subject : Economy Context: The chief economist of the International Monetary Fund (IMF) India needed key structural reforms in order to achieve the ambitious target of being a USD 10 trillion economy. Challenges India facing: Higher crude oil and fertiliser prices will spike domestic inflation; Global slowdown will reduce exports– reducing […]

    World Economic Outlook Subject : Economy Context: The central message of the International Monetary Fund’s World Economic Outlook is that ‘the worst is yet to come’. About the Report: More than a third of the global economy will contract this year or next, along the three largest economies—the United States, the European Union, […]

    ONDC Subject : Economy Context- The Open Network for Digital Commerce (ONDC), which is a government- backed project aimed at enabling small merchants and mom-and-pop stores in parts of the country to access processes and technologies that are typically deployed by large e-commerce platforms, is expected to extend beta testing in Delhi after […]

    Flex fuel vehicles Subject: Economy Context: The auto sector is testing many new technologies to reduce carbon emissions. Flex fuel is one technology that has gained currency What are flex fuel vehicles? Like traditional vehicles, flex fuel vehicles have an internal combustion engine, but instead of regular petrol, it can run on blended […]

    SARFAESI Act and ARCs Subject: Economy Context: The Reserve Bank of India (RBI) has allowed asset reconstruction companies to act as resolution applicants under the Insolvency and Bankruptcy Code (IBC). Details: ARCs can now operate as resolution applicants, which is not allowed under the SARFAESI Act. To qualify as an RA, the companies […]

    Automatic Exchange Of Information (AEOI) Subject: Economy Context: India gets the 4th set of Swiss bank account details of its nationals and organisations as part of an annual information exchange–AEOI 2022. Details: Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries (with the 74 of these 101 countries, the […]