Subject: Economy Context: The pace of contraction in services sector activity eased considerably in September after the government lifted some COVID-19 restrictions, but demand continued to shrink, prompting firms to cut more jobs, a business survey(PMI) showed recently. Concept: PMI is an indicator of business activity- in the manufacturing and services sectors. Calculation of PMI It is […]
Subject: Economy(agri) Context: Union Finance Minister Nirmala Sitharaman has reiterated that the minimum support price (MSP) for crops will continue and will not be withdrawn. Concept: Fixation of MSP The MSP is fixed on the recommendations of the Commission for Agricultural Costs and Prices (CACP). Factors taken into consideration for fixing MSP include: Demand and supply; […]
Subject: Economy Context: India has said that China’s complaint at the World Trade Organisation (WTO) against the country’s foreign direct investment (FDI) policy and banning of apps such as TikTok doesn’t hold merit as no global laws were violated and instead Beijing should reflect on its own transparency record. However china hasn’t filed a formal […]
Subject: Economy Context : Finance Minister Nirmala Sitharaman launched ‘MSME Prerana’, an online business mentoring programme for MSMEs by state-run Indian Bank Concept: Objective : The programme, to be made available in local languages, is aimed at empowering entrepreneurs through skill development and capacity building workshops through Indian bank branches. The initiative is in collaboration […]
Subject: Economy Context : Government nominates Ashima Goyal, Jayanth Verma, Shashank Bhide as new members of MPC Concept: Monetary Policy Committee (MPC) The Monetary Policy Committee (MPC) is a committee of the RBI, which is entrusted with the task of fixing the benchmark policy interest rate (repo rate) to contain inflation within the specified target […]
Subject: Economy Context: TCS company plans for a buy back Concept: A buyback, also known as a share repurchase, is when a company buys its own outstanding shares to reduce the number of shares available on the open market. Since companies raise equity capital through the sale of common and preferred shares, it may seem counter-intuitive that a business might choose to give that money […]
Subject: Economy Context: As of March-end 2019, 11 RRBs had a collective accumulated loss of ₹2,887 crore. Concept: Regional Rural Banks (RRBs) were formed under the RRB Act, 1976 with an objective to provide credit and other facilities to small farmers, agricultural labourers and artisans in rural areas. Regional Rural Banks were set up on the […]