Subject: Economy Context: Monetary policy committee is soon to be reconstituted as the terms of three independent people on the panel expire at the end of next month and one internal member retired in June. Concept: Monetary policy refers to the use of monetary instruments under the control of the central bank to regulate magnitudes […]
Subject: Economy Context: Government has amended the General Financial Rules, 2017 to impose curbs on public procurement from bidders of countries that share a land border with India. Concept: General Financial Rules (GFRs) are a compilation of rules and orders of Government of India to be followed by all while dealing with matters involving public finances. These […]
Subject: Economy Context: The Reserve Bank of India has agreed to a $400 million currency swap facility for Sri Lanka till November 2022. Concept: A currency swap between two countries is an agreement or contract to exchange currencies (of the two countries or any hard currency) with predetermined terms and conditions. Often the popular form […]
Subject: Economy Context: Reserve Bank of India (RBI)has released its Financial Stability Report which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and the resilience of the financial system in the context of contemporaneous issues relating to development and regulation of the financial sector. […]