COOPERATIVE BANKS TOPIC: Economy Context- The Reserve Bank of India has imposed a penalty on three co- operative banks, including Nagrik Sahakari Bank Maryadit at at Panna, Satna and Raipur for deficiencies in regulatory compliances Banking Regulation Act, 1949, and the Depositor Education and Awareness Fund Scheme, 2014. Concept- A Co-operative bank is […]
P-NOTEs TOPIC: Economy Context- Investments in capital market through participatory notes (P-notes) dropped to ₹87,989 crore at the end of January. Concept- A participatory note, commonly known as a P-note or PN. P-notes are Offshore Derivative Instruments (ODIs) issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be a […]
EXPORT CREDIT GUARANTEE CORPORATION (ECGC) TOPIC: Economy Context- ECGC on Monday said it had modified the insurance cover category for Indian exports to Russia amid the ongoing conflict between Russia and Ukraine. Concept- Revising its underwriting policy on Russia, ECGC has now put that country in the Restricted Cover Category (RCC-I) from the […]
CHIPS TOPIC: Economy Context- Cutting some Russian banks’ access to SWIFT will give other geopolitical rivals, especially China, the excuse to promote digital versions of their own central banks’ money in global trade and finance. Concept- Clearing House Interbank Payments System: The Clearing House Interbank Payments System (CHIPS) is a private club of […]
SWIFT TOPIC: Economy Context- The European Union, US, UK and allies have agreed to exclude a number of Russian banks from Swift, an international payment system used by thousands of financial institutions. Concept- What is Swift? Swift is the global financial artery that allows the smooth and rapid transfer of money across borders. […]
TELECOM REGULATORY AUTHORITY OF INDIA (TRAI) TOPIC: Economy Context- The Department of Telecommunications (DoT) has urged TRAI to expedite submission of its recommendations on 5G spectrum auctions. Concept- About TRAI: The Telecom Regulatory Authority of India (TRAI) was established in 1997 by the Telecom Regulatory Authority of India Act, 1997. The head office […]
FDI TOPIC: Economy Context- The Union Cabinet is expected to consider a proposal to put Life Insurance Corporation (LIC) at par with public sector banks for foreign direct investment (FDI). Concept- FDI Limits In Different Sectors In India: Sector FDI Limit & Route 1. Agriculture & Animal Husbandry 100% Automatic 2. Mining (Coal […]