RBI’s Panel on AI Ethics in Financial Sector Sub: Eco Sec : Banking sector The Reserve Bank of India (RBI) has constituted a committee to develop a framework for the responsible and ethical use of Artificial Intelligence (AI) in the financial sector. Key Highlights Committee Name: Framework for Responsible and Ethical Enablement of […]
Dr. Manmohan Singh: A Statesman who shaped India’s Economic and Global Trajectory Sub: Eco Sec : External sector Dr. Manmohan Singh, as Finance Minister from 1991 to 1995, played a pivotal role in transforming India’s economic landscape during a time of severe crisis. The reforms he introduced are often credited with liberalizing the […]
Taxing Popcorn in India: GST Controversy Sub: Eco Sec: Fiscal Policy Context: The GST Council introduced differential tax rates on popcorn based on its content: Non-branded, salted/spiced popcorn: 5% GST Pre-packaged and branded popcorn: 12% GST Caramel popcorn (sugar confectionery): 18% GST Rationale: Finance Minister Sitharaman explained that products with added sugar are […]
Why Green Deposits Failed to Take Off in India Sub : Eco Sec: Monetary Policy Context: The Reserve Bank of India (RBI) has introduced a framework, which came into effect from June 1, 2023 for banks and NBFCs to offer green deposits, aimed at promoting eco-friendly climate projects and tackling greenwashing (misleading claims […]