India Records Trade Deficit With Nine Top Trading Partners in April-October FY24: Report Subject :Economy Section: External Sector Context: India’s total merchandise exports decreased by 6.51% to $278.8 billion in April-November period of FY24.India’s imports fell by 8.67% to $445.15 billion during the same period. More on news: During the first seven months […]
Directives issued by RBI on Inoperative Accounts Subject :Economy Section: Monetary Policy Annual Review of Dormant Accounts: Central Bank instructed to conduct an annual review of accounts with no customer-induced transactions for over a year. Term deposit accounts without explicit renewal mandates, where funds remain unwithdrawn after maturity, are also subject to review. […]
Lemongrass, mint spread scent of change in Odisha Subject: Economy Section: Capital Market Context: High-value aromatic crops and floriculture have recently emerged as a means to supplement the livelihood of Odisha’s tribal communities. Details: With the help of the Central Institute of Medicinal and Aromatic Plants (CIMAP) in Lucknow, the district of Odisha […]
NSE’s investor base grows to 8.5 crore in 2023 Subject: Economy Section: Capital Market Context: The investor base of the National Stock Exchange (NSE) increased by 22 percent from 7 crore in 2022 to 8.54 crore in 2023. More on News: India’s market capitalisation crossed $4 trillion in December 2023. The benchmark […]
Textile sector faces ESG challenges Subject: Economy Section: National Income Context: The textile industry is coming under greater Environmental, social and governance (ESG) scrutiny. Facts about Textile Industry in India: The Indian textile and apparel market is currently estimated at over $150 billion, of which, export constitutes over $40 billion. A recent report […]
Levy 20-30% health tax on food high in sugar, salt, fat: study Subject: Economy Section: Fiscal Policy In the news: Public health researchers recommend implementing a health tax ranging from 20% to 30%, in addition to the Goods and Services Tax (GST), specifically targeting sugar, sugar-sweetened beverages (SSBs), and foods high in sugar, […]
Fed Rate Cut and its Impact on the Indian Economy Subject: Economy Section: External sector Fed Rate Cut: Refers to the reduction in the federal funds rate, the interest rate at which banks lend to each other overnight. Decided by the Federal Reserve (Fed) in the United States. Impact on Indian Economy: Capital […]
Insights on India’s Financial Transformation Subject: Economy Section: National Income Transformation from Savers to Investors: Uday Kotak observes a shift in India from a nation of savers to investors. Interest in financial markets increased post the global financial crisis. Historical Shift in Saver Behaviour: In the early 80s, Indian savers lacked confidence in […]
Guidelines for Government Securities Lending Directions, 2023 by RBI Subject :Economy Section: Monetary Policy The Reserve Bank of India (RBI) has issued guidelines to permit lending and borrowing in government securities (G-Secs), excluding Treasury Bills. Objective: The move aims to deepen the bond market and enhance liquidity in the Government Securities (G-Sec) market. […]
Role of DFS in improving bank asset quality in 2023 Subject :Economy Section: Monetary Policy Reduction of Non-Performing Assets (NPAs): The DFS have played a crucial role in significantly reducing NPAs in Scheduled Commercial Banks (SCBs). Gross NPAs decreased from ₹9,33,779 crore in March 2019 to ₹5,71,515 crore in March 2023. Measures Affecting […]