Small Finance Bank Subject – Economy Context – Small finance banks are meeting inclusion objectives, and must stick to their differentiated model. Concept – Small Finance Banks are the financial institutions which provide financial services to the unserved and unbanked region of the country. They are registered as a public limited company under […]
Financial Inclusion Index Subject – Economy Context – RBI unveils financial inclusion index. Concept – The Reserve Bank of India(RBI) announced the formation of a composite Financial Inclusion Index (FIIndex) tocapture the extent of financial inclusion across the country. The FIIndex for the period ended March 2021 stood at53.9 compared with 43.4 for the period […]
National Start-up Advisory Council Subject: Economy Context : Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri PiyushGoyal chaired the virtual meeting of “National Startup Advisory Council here today. Concept: National Start-up Advisory Council is constituted by the ‘Department for Promotion of Industry and Internal Trade (DPIIT). Its […]
WPI Inflation Subject – Economy Context – July WPI inflation slows slightly to 11.2% Concept – It is the most widely used inflation indicator in India. Published by the Office of Economic Adviser, Ministry of Commerce and Industry. All transactions at the first point of bulk sale in the domestic market are included. Major criticism for this index is […]
The Employees’ State Insurance Corporation Subject – Economy Context – ESIC notifies relief scheme for COVID hit Concept – The Employees’ State Insurance Corporation has notified a scheme for the dependents of ESI insured persons in case of death due to COVID19 that would give a minimum of ₹1,800 a month. The scheme would cover the families […]
Oil Bonds Subject – Economy Concept – Oil bonds are issued by the government to compensate oil marketing companies (OMCs), fertilizer companies and the Food Corporation of India (FCI) for losses borne by them in the process of regulating prices in the domestic market. It was introduced in 2005 to defer the payment of money to […]