Reserve Bank of India (RBI) has been asked to prepare a ‘whitelist’ Subject :Economy Context: Noting concerns on increasing instances of money laundering, tax evasion and criminal intimidation by illegal loan apps, the Finance Minister outlined multiple steps to prevent operations of such lenders. Details: Reserve Bank of India (RBI) has been asked […]
Income tax ‘raids’: What is the difference between surveys and searches? Subject: Economy According to tax officials, the surveys were conducted due to some alleged irregularities in funding these bodies. The searches, however, were conducted as an action against some unrecognised but registered political parties. What is a survey? Tax authorities conduct surveys […]
Unemployment rate lowest since 2019; workforce participation largely unchanged Subject : Economy Section: Unemployment According to the latest Periodic Labour Force Survey quarterly bulletin released by the Ministry of Statistics Planning and Implementation, urban unemployment rate in the country between April and June 2022 was 7.6 per cent, 0.6 per cent lower than […]
International trade in rupee Subject: economy Why in the news? The Finance Ministry is scheduled to meet with stakeholders including banks and the Ministries of External Affairs and Commerce to discuss ways to promote international trade in rupee instead of the United States dollar. Details: The aim is to promote growth of global […]
Central bank digital currency (CBDC) Subject: economy Why in the news? Central bank digital currency (CBDC), to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T Rabi Sankar. Details: CBDC is probably the most efficient tool for reducing time and cost […]
India-Bangladesh Trading relations and CEPA Subject : Economy Section: External Sector Prime Minister Narendra Modi has said India and Bangladesh will soon commence negotiations on a Bilateral Comprehensive Economic Partnership Agreement (CEPA). Details: As Bangladesh prepares to graduate into a developing nation by 2026 — after which it may no longer qualify for […]