What is the News? Prime Minister has launched two innovative customer-centric initiatives of RBI, viz. Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme. What is a Retail Direct Scheme? The Retail Direct Scheme allows retail investors to invest in government securities (G-Sec) by opening a gilt security account with the RBI. The… Continue reading PM launches 2 RBI schemes. All about the central bank initiatives
Category: Factly – Indian Economy
This category contains all Current Affairs Factly Articles for Prelims, related to the Indian economy. You can find all relevant Economy updates on this page. This page is specifically useful for UPSC Prelims exam.
RBI to hold its first-ever hackathon, HARBINGER 2021, on payments system
What is the News? Reserve Bank of India(RBI) will be organising its first global hackathon titled “HARBINGER 2021–Innovation for Transformation”. What is the purpose of the HARBINGER 2021 Hackathon? HARBINGER 2021 aims to invite participants that can identify and develop solutions which can make: digital payments accessible to the under-served enhance the ease of payments… Continue reading RBI to hold its first-ever hackathon, HARBINGER 2021, on payments system
New online certification system puts exporters in a fix
What is the News? The Ministry of Commerce had launched an online portal to issue Certificate of Origin(CoO) to the exporters from November 1,2021. The portal was launched to facilitate exporters through a secure, electronic, paperless CoO issuance process. However, exporters are facing challenges in registering on to the portal as it requires high-quality digital… Continue reading New online certification system puts exporters in a fix
RBI unveils revised PCA framework
Contents1 What is the news?2 What changes have been made to the PCA framework?3 Why the PCA framework has been revised?4 Which banks are currently under PCA framework? What is the news? The Reserve Bank of India (RBI) has unveiled a revised PCA framework for Scheduled Commercial Banks (SCBs), and the changes will be effective… Continue reading RBI unveils revised PCA framework
PSBs to introduce common staff accountability guidelines for NPAs
Contents1 What is the news?2 What are the staff accountability policies of PSBs?3 About the guidelines issued by Finance Ministry4 How the staff accountability will be ensured under the new guidelines?5 What is the existing RBI Framework for Loans above 50 crores turning NPAs?6 What is the significance of these guidelines? What is the news?… Continue reading PSBs to introduce common staff accountability guidelines for NPAs
Statsguru: Six charts show India’s infrastructure projects in a slow lane
What is the News? The Ministry of Statistics and Programme Implementation (MOSPI) has released a report that shows the cost overruns and time overruns for various projects. What are cost and time overrun? Cost overrun: It is an unexpected change in the project budget that ends up increasing the total project cost. Time overrun: It… Continue reading Statsguru: Six charts show India’s infrastructure projects in a slow lane
GoI constitutes 20-member Empowered Group of Secretaries to monitor development and implementation of the PM Gati Shakti NMP
What is the News? The Government has constituted a 20-member Empowered Group of Secretaries to monitor the development and implementation of the PM Gati Shakti National Master Plan (NMP). Click Here to read about PM Gati Shakti About the Empowered Group of Secretaries(EGoS) Chaired by: It is a 20 member body chaired by the Cabinet Secretary. Members:… Continue reading GoI constitutes 20-member Empowered Group of Secretaries to monitor development and implementation of the PM Gati Shakti NMP
‘Informal sector shrank sharply in 2020-21’
What is the News? State Bank of India’s(SBI) economic research department has released the Ecowrap Report. What are the key findings of the Ecowrap Report? Formalisation of Economy India’s informal economy has reduced by around 15-20% of the formal GDP in 2020-21, compared to 52% in 2017-18. This signals a greater shift towards the formalisation… Continue reading ‘Informal sector shrank sharply in 2020-21’
Union Health Minister launches the Sixth Edition of National Formulary of India (NFI)
What is the News? The Union Minister for Health and Family Welfare has launched the Sixth Edition of the National Formulary of India (NFI). About National Formulary of India(NFI) Published by: Indian Pharmacopoeia Commission(IPC) Aim: To promote rational use of medicines in the country. Significance: The NFI will be very beneficial for Clinicians and Healthcare… Continue reading Union Health Minister launches the Sixth Edition of National Formulary of India (NFI)
NITI Aayog Releases Report on ‘Health Insurance for India’s Missing Middle’
Contents1 What is the News?2 What are the key Findings of the report?3 What should be done to cover the missing middle?4 What are the other Suggestions in the Report? What is the News? Niti Aayog has released a report titled ‘Health Insurance for India’s Missing Middle’. What are the key Findings of the report?… Continue reading NITI Aayog Releases Report on ‘Health Insurance for India’s Missing Middle’
