Dollar Appreciation and India Subject: Economy Context: The US Dollar Index, which measures the greenback’s exchange rate against six major global currencies, recently surpassed its 20-year high and is currently trading at over 105. Causes: Rise in Federal rate of interest-When inflation rises, interest rates in an economy generally catch up leading to […]
RBI measures to increase forex Subject: Economy Context: In the backdrop of global uncertainty and the continuing weakness of the rupee against the US dollar, the Reserve Bank of India on Wednesday unleashed a slew of measures to boost forex inflows. Details: The measures aimed at capital inflows and thus, increasing the forex […]
ED seeks to declare Devas Multimedia CEO fugitive economic offender in PMLA case Subject: Economy Context: The Enforcement Directorate (ED) has sought permission from a special court in Bengaluru to declare the US-based founder and CEO of the now liquidated start-up firm Devas Multimedia Private Limited a fugitive economic offender. Concept: Fugitive Economic […]
The relentless march of FPIs to the exit gate Subject: Economy Context: June 2022 witnessed the worst Foreign Portfolio Investment (FPI) sell-off since March 2020 — when India announced a nationwide lockdown — at ₹50,000 crore. Their selling actions have triggered a significant decline in benchmark indices, resulting in a drop in market […]
GST exemption in Services Subject: Economy Context: Last week, the GST Council recommended doing away with exemptions on some services, including those provided by the RBI, IRDA, SEBI, FSSAI, hotel accommodation priced up to ₹1,000/day and room rent (excluding ICU) exceeding ₹5,000 per day per patient, beside others. Concept: At the time of […]