Surat Diamond Industry Subject: Economy Section: Diamonds are believed to have been recognized and mined in India first, at the spots where considerably alluvial stone deposits could be found many centuries ago along the rivers Penner, Godavari and Krishna. However, the diamond industry started when a local businessman in Surat had brought a […]
Decline in FDI inflows Subject: Economy Section: External Sector Context: UNCTAD’s latest World Investment Report suggests a different narrative on foreign direct investment inflows into India in sharp contrast to optimistic official statements of record FDI inflows in 2021-22. The publication shows inflows dropping by 30% to $45 billion in 2021. A proximate […]
RBI to soon come out with regulations for digi-lending Subject: Economy Section: Monetary Policy The RBI’s working group (2021) on digital lending, including lending through online platforms and mobile apps, noted that while the current share of digital lending in overall credit pie is not significant to affect financial stability, the growth momentum […]
EASE 5.0 Subject: Economy Section: Money and Banking Context: Finance and Corporate Affairs Minister launched the fifth edition of Enhanced Access and Service Excellence (EASE 5.0), which spells out the common reforms agenda for public sector banks under the EASENext program. About EASE 5.0 Under EASE 5.0, PSBs will continue to invest in […]
Ahead of sowing, Kharif MSP revealed Subject: economy Section: Agriculture The Union Cabinet in June raised the minimum support price (MSP) for paddy by Rs 100 a quintal for the Kharif season of 2022-23. The Cabinet Committee on Economic Affairs increased the MSP for all mandated Kharif crops for marketing season 2022-23. The […]
Credit cards to be linked with UPI Subject: Economy Section: Money and Banking Context: In a move that will add to the growing popularity of the Uni- fied Payments Interface, the Re- serve Bank of India has proposed linking of credit cards to UPI. To begin with, the Rupay credit cards will be […]
RBI- Monetary policy update Subject : Economy Section : Monetary Policy Context: The Monetary Policy Committee (MPC) today stepped up its inflation fight , with its members unanimously voting for an increase in the policy repo rate by 50 basis points. The MPC move comes a little over a month after the six- […]