Read In-depth analysis of all the Editorials here Context: The shadow banking in India. Shadow banking or Non Banking Financial Companies (NBFCs) are financial intermediaries engaged in the business of accepting deposits and delivering credit and play an important role in channelizing the scarce financial resources to capital formation. Different types of NBFCs: NBFCs are categorized… Continue reading 7 PM | How easy money from banks led NBFCs into crisis | 8th July, 2019
Author: ForumIAS
Daily Quiz #7 UPSC Prelims Marathon – July 8, 2019
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Union Finance Minister Nirmala Sitharaman to address RBI board tomorrow
Finance Minister is scheduled to address the post-budget meeting of the RBI’s central board.She will highlight the key points of the Budget including the fiscal consolidation roadmap. The government has lowered the fiscal deficit target for 2019-20 at 3.3% of GDP from 3.4% set in the Interim Budget presented on February 1, 2019. Fiscal deficit… Continue reading Union Finance Minister Nirmala Sitharaman to address RBI board tomorrow
Plan for district eco-panels draws fire
Government has released a draft law on Environment Impact Assessment Notification(EIA),2019.The draft law is an update to the EIA 2006. The law makes the District Magistrate(DM) the chairperson of the District Environment Impact Assessment Authority(DEIAA) that will accord environment clearance for minor mining projects. Minor mining broadly refers to sand and stone mining in plots… Continue reading Plan for district eco-panels draws fire
African leaders set to sign landmark trade deal at AU Summit
African Countries will officially sign a African Continental Free Trade Area agreement at an African Union(AU) summit in Niger. The agreement aims to create a single unified market for the continent’s 1.3 billion people and to boost economic development. The plans for the free trade zone received a boost when Africa’s largest economy,Nigeria became the… Continue reading African leaders set to sign landmark trade deal at AU Summit
Production of Vande Bharat Express comes to a grinding halt
Recently,the production of India’s first semi high-speed train called as Vande Bharat Express(Train 18) has been stopped at the Integral Coach Factory(ICF) in Chennai. The reason is that the design of the Train has been found to be violative of certain specifications. The primary issue was that making of Train had dozens of deviations from… Continue reading Production of Vande Bharat Express comes to a grinding halt
Central Govt to set up three CoE in Sports at Itanagar in AP
Union Minister of State for Youth Affairs and Sports has informed that central government is going to set-up three Sports Centre of Excellence in Itanagar,Arunachal Pradesh. The three centre of excellence will be for (a)Martial Arts (b)Weight Lifting and (c)Boxing.These centres will have a capacity of 300 sportspersons with residential facility. The minister has also… Continue reading Central Govt to set up three CoE in Sports at Itanagar in AP
Raising of FDI in insurance broking to 100% upsets domestic brokers
Finance Minister has proposed a 100% foreign direct investment(FDI) in the insurance intermediaries in the Union Budget 2019. Insurance intermediaries are the backbone of the industry.They help in distribution of insurance policies and also help customers get attractive rates for the products. Insurance intermediaries include insurance brokers, insurance repositories, surveyors and loss assessors and third-party… Continue reading Raising of FDI in insurance broking to 100% upsets domestic brokers
Budget 2019: Defence allocation disappoints military
Union Budget has allocated Rs 3.18 lakh crore for defence.The allocation is estimated to be at around 1.6% of the GDP which experts have said is the lowest since the 1962 war with China. The defence officials has said that the capital expenditure allocated for the Navy and the Indian Air Force(IAF) does not meet… Continue reading Budget 2019: Defence allocation disappoints military
U.S. curbs,Chabahar downgrade choke Indo-Afghan trade
The government in its Budget has allocated ₹45 crore for India’s building activities in the port of Chabahar Iran.This is a reduction from the previous year’s allocation of ₹150 crore. Experts have said that this reduction will affect the India-Afghan trade, which is already hit by (a)Pakistan’s decision to ban airspace rights to most flights… Continue reading U.S. curbs,Chabahar downgrade choke Indo-Afghan trade
