Startup winter and crypto winter Subject: Economy Why in the news? The crypto market has been going through a downward trend with a sharp decline in prices since the beginning of this year. Further there has been a funding winter for startups too– Funding in the Indian start-up ecosystem has fallen by 40 […]
Special INR Vostro Accounts Subject : Economy Section: External Sector Context: Government is getting a new avenue of borrowing with the Reserve Bank of India (RBI) enabled Special INR Vostro Accounts for investment in treasury bills (TBills) and GSecs. Details: The new mechanism for international trade settlement in the rupee facilitates returns on […]
Off Budget Loans Subject :Economy Section: Fiscal Policy Context: The Centre on Wednesday relaxed norms for adjusting states’ off-budget loans to fund their capital expenditure. Details: Centre earlier informed states that off-budget borrowings were to be equated with the states’ own debt and any such fund raised by the governments in 2020-21 and […]
Foreign Currency Deposits Subject : Economy Section: External Sector Context: Banks revised their FCNR rates right after RBI relaxed the norms and permitted them to raise fresh FCNR(B) and NRE deposits without reference to the extant regulations on interest rates with effect from July 7, 2022. Concept: Foreign Currency account: A Foreign Currency […]
5G Spectrum Auction Subject : Economy The earnest money deposited by the four bidders for 5G spectrum indicates that Reliance Jio is expected to bid the most aggressively Details: Reliance has provided the DoT with an EMD between Rs 5,000 crore and Rs 7,000 crore. The clear aim for Reliance here is to […]
High Court quashes Telangana VAT amendment legislation Subject :Economy Context: The Telangana High Court has quashed the Telangana Value Added Tax (Second Amendment) Act-2017 as “unconstitutional and devoid of legislative competence”. What is Value Added Tax? It is a type of indirect tax levied on goods and services for value added at every […]
Govt will tap capital markets to fund road projects: Nitin Gadkari Subject :Economy What is a capital Market? The capital market involves the sale and purchase of both equity and debt instruments, including equity shares, debentures, preference shares, secured premium notes, and zero-coupon bonds. It also caters to all forms of lending and […]
The Financial Stability Board (FSB) and crypto-assets Subject: Economy Context: The Financial Stability Board (FSB), on Monday, said it will report to the G20 Finance Ministers and central bank Governors in October on the regulatory and supervisory approaches to stable coins and other crypto assets. Concept: The Financial Stability Board It was established […]
Settlement of international trade in rupees Subject: Economy Context: In a circular issued to commercial banks on Monday, the RBI said all exports and imports under this arrangement may be denominated and invoiced in rupee (INR). Cause: Currency depreciation- increasing pressure on the Indian currency in the wake of Russia’s invasion of Ukraine […]