Author: Yash Dagar

News: The Union Government has decided to enhance the limit of Mudra loans to Rs. 20 lakh from the current Rs. 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun Category’. 1. The Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015 to facilitate microcredit to non-farm micro… Continue reading Govt. Doubles loan limit under Mudra Yojana to Rs. 20 lakh

News: BRICS nations supported India’s stance on the European Union’s Cross Border Adjustment Mechanism (CBAM), calling it discriminatory. The BRICS grouping also highlighted the need to enable settlements in local currency, in line with the BRICS Cross Border Payments Initiative (CBPI). 1. Cross Border Adjustment Mechanism (CBAM): Carbon Border Adjustment Mechanism is a carbon tariff… Continue reading BRICS bloc endorses India’s stance on EU’s carbon tax; pushes for local currency settlements

News: The Emission Gap Report warned that the climate targets set by the Paris Agreement would be breached, unless the countries dramatically scale up their climate actions to reduce global emissions in two years. 1. Emission Gap Report: It assesses the gap between the current green house gas emissions and the levels needed to achieve… Continue reading 1.5 degrees Celsius target will be ‘gone’ in a few years: UN report

News: SEBI Chairperson has skipped the summons issued by the Public Accounts Committee (PAC), citing a personal exigency. 1. Securities and Exchange Board of India: SEBI is a statutory body established in 1992 under the provisions of SEBI Act, 1992. 2. Its primary objective is to protect the interests of investors in securities and to… Continue reading SEBI Chairperson Buch skips Parliament’s PAC summons

News: The President has appointed Justice Sanjiv Khanna to be the Chief Justice of India, with effect from November 11, 2014, by exercising powers conferred by Clause(2) of Article 124 of the Constitution. 1. The Chief Justice of India and the other judges of the Supreme Court are appointed by the President by exercising powers… Continue reading Justice Sanjiv Khanna appointed next CJI, to take oath on Nov. 11

News: The Monetary Policy Committee’s meeting held from October 7-9 has decided to keep the repo rate unchanged at 6.5 percent for 20 consecutive months. 1. Monetary Policy Committee is a statutory body under the RBI Act, 1934. It is responsible for fixing benchmark interest rates in India and maintains price stability while keeping in… Continue reading Reserve Bank cannot risk another bout of inflation, says Governor Das

News: A projection made by the Indian Cyber Crime Coordination Centre (I4C) shows that Indians are likely to lose over Rs 1.2 lakh crore over the next year to cyber frauds. 1. The I4C study shows that mule bank accounts are one of the significant contributors to the online financial scams. 2. Mule bank accounts… Continue reading Cyber fraud losses could amount to 0.7% of GDP, projects Ministry’s study

News: E. coli infection, after eating McDonald’s burgers, has led to death of one person and hospitalisation of ten people in the US. 1. Escherichia coli (E. coli) is a bacterium that is commonly found in the gut of humans and warm-blooded animals. 2. Most E. coli strains are harmless, but some can cause serious… Continue reading McDonald’s linked outbreak in United States: What is E. coli?

News: A Constitution Bench of 9 judges has upheld that states have power to tax not just alcoholic beverages, but also ‘industrial’ alcohol. 1. The dispute between the Centre and the State over taxation power arose due to overlapping entries in the seventh schedule of the constitution. 2. Seventh schedule of the constitution deals with… Continue reading Taxing industrial alcohol

News: Countries are currently assembled in Colombia for the 16th Conference of Parties to the Convention on Biological Diversity. This is the first meeting after the landmark Kunming-Montreal Global Biodiversity Framework was concluded at COP15 in Montreal in 2022. 1. Convention on Biological Diversity (CBD): It is the international legal instrument which aims to protect… Continue reading The Biodiversity COP