Prudential Norms Subject: Economy Section: Monetary Policy Context: Non-performing Assets An asset, including a leased asset, becomes non performing when it ceases to generate income for the bank. A non performing asset (NPA) is a loan or an advance where: interest and/ or installment of principal remains overdue for a period of more […]
Conversion of NBFC into Banks Subject: Economy Context: Tightening regulatory norms on non-banking finance companies (NBFCs) Concept: What are NBFCs A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other […]
FDI Trends Subject: Economy Section: External Sector Why in the news? India is expected to attract $100 billion foreign direct investment (FDI) in 2022-23 on the back of economic reforms and ease of doing business in recent years, industry chamber PHDCCI said on Thursday. It has suggested a ten pronged strategy to strengthen […]
Rural Economy Reaps Rich Gains from War Subject: Economy Section: Context- The Russia-Ukraine war has given an opportunity for India to step up wheat exports, benefitting our farmers. Concept- The Russian invasion of Ukraine has presented an opportunity for the country’s rural economy. There could be a silver lining for India with an […]
Open Market Sale Scheme Subject: Economy Section: Food Security Why in the news? The Food Ministry is believed to have informed the Prime Minister’s Office (PMO) that wheat procurement could be around 25 mt against the 44 mt target set for it. Details: Field level staff have informed higher officials in the Food Corporation […]
Ethanol Blending Subject: Economy Section: Fiscal Policy Why in the news? The Centre has invited fresh applications from those who have acquired land for ethanol project and obtained environmental clearance to avail interest subvention in setting up new distilleries or expansion of existing distilleries to produce ethanol out of cereals (rice, wheat, barley, […]
IT Rules changes Subject: Economy Section: Fiscal Policy Why in the news? Four new criteria added by the I-T Department to the rules for filing ITR. Details: If an individual’s total sales, turnover or gross receipts in the business exceeds Rs 60 lakh during the previous year, or If an individual’s total gross […]
NSE IFSC-NSE International Exchange Subject: Economy Section: Capital Market NSE IFSC is launching an international sustainability platform, a first-of-its-kind ESG platform in India, at GIFT IFSC. Details: The platform will facilitate the listing and trading of a variety of sustainability products including green bonds, voluntary carbon, sustainable bonds, green RE-ITs and green equity, […]
Taxing Digital Economy Subject: Economy Section: Fiscal Policy Why in the news? Over the past four years, 137 countries have engaged intensively with the OECD to find a solution to the tax challenges arising from digitalisation. Issue? Inter jurisdiction operation-The unique features of the digital economy—firms can operate seamlessly across borders and users […]
Share of agriculture in economy- trends Subject :Economy Section: National Income Context: Over the last two years the share of agriculture has improved in overall GDP and the sector remained resilient despite the hit from COVID-19 pandemic. In FY 2021 the share of agriculture in overall GDP rose to 20 per cent, the […]