PSBs can now check on big borrowers on unified portal Subject: Economy Section: Monetary Policy Context:  Public sector banks (PSBs) would now be able to check the antecedents of large borrowers and ascertain the existence of any non-performing assets against their name in a single click. Benefit : a move that is expected […]

    Real interest rate of 2% risks impairing growth: MPC’s Varma Subject: Economy Section: Monetary Policy Interest rate concept: Interest rates represent the cost of borrowing or the return on saving, expressed as a percentage of the total amount of a loan or investment. Nominal Interest Rate = Real Interest Rate + Projected Rate […]

    Payments banks may seek RBI nod for small-value Fixed deposits Subject: Economy Section: Monetary Policy Context: Payments banks (PBs) may approach the Reserve Bank of India (RBI) to allow them to take small-value fixed as well as recurring deposits, in addition to these , also for small-ticket loans to individuals and micro- and […]

    Job on inflation front not over, last mile of disinflation can be sticky: Das in MPC minutes Subject: Economy Section: Monetary Policy Context: The RBI Governor wrote that the current setting of monetary policy is moving in the right direction, with growth holding firm and inflation trending down to the target. More on […]

    Illegal lending apps on FSDC radar Subject: Economy Section: Monetary Policy What is FSDC (Financial Stability and Development Council)? Establishment: It is a non-statutory apex council under the Ministry of Finance constituted by the Executive Order in 2010  The Raghuram Rajan committee (2008) on financial sector reforms first proposed the creation of FSDC. […]

    India’s smartphone exports rise from 1% to 2.5% in a decade Subject: Economy Section: External Sector Context: In recent times, India has laid much emphasis on smartphone exports. In FY 2023, Prime Minister Narendra Modi lauded phone exports as they crossed the $10 billion mark. Smartphone export from India India is one of […]

    Cabinet approves amendment in the Foreign Direct Investment (FDI) policy on Space Sector Subject: Economy Section: External sector Context: The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the amendment in Foreign Direct Investment (FDI) policy on the space sector. More on news: The satellite sub-sector has been divided into three […]