Bureau of Indian Standards (BIS) Hallmarking Subject – Economy Context – To retain customers, manufacturers and sellers must implement ‘Hallmarking Unique Identity’ in spirit Concept – Bureau of Indian Standards (BIS) Hallmarking was launched in 2001 as a voluntary scheme, with the objective of protecting the consumers against adulteration and justifying an obligatory […]

    Trade Related Intellectual Property Rights (TRIPS) Subject – Economy Context – At WTO meet, India to push for TRIPS waiver of Covid-19 health products Concept – India will continue to push for inclusion of temporary waiver of Trade Related Intellectual Property Rights (TRIPS) provisions for Covid-related medical products in the WTO response package […]

    Tax devolution to States Subject – Economy Context – Capex push: Tax devolution to states front-loaded Concept – Typically, the tax devolution to states is done in 14 instalments in a year and the adjustments as per the revised estimate are usually done in March. Union finance minister Nirmala Sitharaman said the tax […]

    Decline in Forex reserves Subject: ECONOMY Context: According to RBI data, country’s Forex reserves decreased amid a fall in currency and gold assets. FCA, an essential component of the forex reserves decreased by $881 mn to $577 bn. Concept: HOW FALL IN FOREIGN RESERVES IMPACT? Higher reserves are a big cushion in the […]

    Alternative Fuel and Employment Subject: ECONOMY Context: Toyota partners with four Japan automakers to explore alternative green fuels for internal combustion engine cars including hydrogen and synthetic fuels derived from biomass. Concept: What are Alternative Fuels? Alternative fuels include gaseous fuels such as hydrogen, natural gas, and propane; alcohols such as ethanol, methanol, […]

    Integrated Ombudsman Scheme Subject: Economy Context: Integrated Ombudsman Scheme unveiled Content: Prior to the introduction of this scheme, the RBI had three different ombudsman schemes to aid dispute resolution with respect to banks, NBFCs, and non-bank pre-paid payment issuers (PPIs). They were operated by the RBI through 22 ombudsman offices. This scheme, the […]

    Retail Direct Scheme Subject: Economy Context: RBI revealed a new scheme Content: Retail Direct Schemes: The Retail Direct Scheme, small investors can now buy or sell government securities (G-Secs), or bonds, directly without having to go through an intermediary like a mutual fund. It is similar to placing funds in debt instruments such […]