India Post Payment Bank Subject : Economy Section: Banking Context: Doorstep banking services are now available in every village according to the India’s Post report. Details: About 1.90 lakh Postmen and Gramin Dak Sevaks (GDS) have been trained to serve as mobile bankers-providing Doorstep Banking Services. India Post Payment Bank-IPPB is one of […]
International Financial Services Centre -related topics Subject: Economy Section: External Sector Context: Recently, PM Narendra Modi is visiting to the Gujarat International Finance Tec-City (GIFT City) Details: He will launch the country’s first international bullion exchange –India International Bullion Exchange (IIBX) at the GIFT City He will lay the foundation stone of the […]
Counterfeit notes and Utkarsh Subject: Economy Section: Context: Counterfeit notes are on the rise along with the increasing trend of currency notes in circulation, according to the data available from the Finance Ministry, Reserve Bank of India, and National Crime Record Bureau. Though there is a rise in digital payments, still the currency […]
Forex accumulation and valuation effect Subject: Economy Section: External Sector Context: From a peak of $642.45 billion on September 3, India’s foreign exchange reserves have dipped to $572.71 billion as of July 15 i.e. a fall of $70 billion in 10 months. How is forex accumulated? Through current account surplus-when a country’s earnings from […]
Will Russia-Ukraine deal ease global food crisis? Subject: Economy Section: External sector Context: In their first major deal since the February 24 war began, Russia and Ukraine on Friday agreed to resume grain exports from Black Sea ports as part of a deal negotiated by the United Nations and Turkey. Why is the […]
Antarctic Bill passed in LS Subject: Economy Context: The Lok Sabha on Friday passed the Indian Antarctic Bill, 2022 amid clamour from the Opposition to have more discussion. What is the Antarctic Bill? It is the first domestic legislation with regard to Antarctica in India It seeks to extend the application of domestic […]
Abuse of Dominant Position Subject: Economy Section: Regulation The Competition Commission of India has since its inception dealt with as many as 846 cases (till June 2022) as regards abuse of dominant position. Of these 846 cases, one was initiated suo motu by the Commission, 794 were admitted on receipt of complaints by […]
Transmission Protection Instrument Subject : Economy Section : External Sector The European Central Bank has lifted its record-low minus 0.5% deposit rate to zero, first rate hike in 11 years. It has further ended its eight-year experiment with negative interest rates, by increasing the main refinancing rate to 0.50%. As ECB rates rise, […]