What is the News? The Reserve Bank of India has proposed to allow the linking of credit cards with the Unified Payments Interface(UPI). Linking of Credit Cards with UPI The linking of Credit Cards with UPI will first begin with the indigenous RuPay credit cards. Both the RuPay network and UPI are managed by the… Continue reading Explained: The RBI plan to link credit cards with UPI
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.
Diversify crops, shift rice to places that can support it: Central panel
What is the News? The Commission for Agricultural Cost and Prices(CACP) has recommended the promotion of crop diversification, favouring oilseed crops amid the global inflation in oilseeds and vegetable oils prices. What are the recommendations given by CACP? Need for Crop Diversification Dependence on rice-wheat cropping systems especially in States like Punjab, Haryana and western… Continue reading Diversify crops, shift rice to places that can support it: Central panel
Explained: Why bond yields are rising, and what it means for markets and investors
What is the News? In India, Bond yields have risen to their highest levels in the last three years. What are Bond and Bond Yield? A bond is a fixed income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental). Bonds are used by companies, municipalities, states, and… Continue reading Explained: Why bond yields are rising, and what it means for markets and investors
World Investment Report: India 7th in FDI inflows: UNCTAD
What is the News? The United Nations Conference on Trade and Development(UNCTAD) has released the World Investment Report. What are the key findings of the report? Global findings The United States ($367 billion) remained the top recipient of FDI in 2021. It was followed by China ($181 billion) and Hong Kong ($141 billion). FDI Inflows… Continue reading World Investment Report: India 7th in FDI inflows: UNCTAD
What are ‘green jobs’, mentioned by the PM in his Environment Day speech?
What is the News? At an event to mark World Environment Day, the Prime Minister spoke about India’s consistent efforts to combat climate change. He also mentioned India’s efforts to create ‘green jobs’. What are Green Jobs? ‘Green jobs’ refer to a class of jobs that directly have a positive impact on the planet, and… Continue reading What are ‘green jobs’, mentioned by the PM in his Environment Day speech?
Union Finance Minister launches Single Nodal Agency(SNA) Dashboard as a part of the Azadi ka Amrit Mahotsav (AKAM) celebration
What is the News? The Union Minister for Finance has launched the Single Nodal Agency(SNA) Dashboard of PFMS (Public Financial Management System). What is SNA Dashboard? SNA Dashboard is a major reform initiated in 2021. Purpose: It is a system with regards to the manner in which funds for Centrally Sponsored Schemes (CSS) are released,… Continue reading Union Finance Minister launches Single Nodal Agency(SNA) Dashboard as a part of the Azadi ka Amrit Mahotsav (AKAM) celebration
Explained: How ‘Use and File’ system will bring new health insurance products faster
What is the News? The Insurance Regulatory and Development Authority of India(IRDAI) has decided to extend the ‘Use and File’ procedure to all health insurance products. The move is expected to facilitate faster customer access to health policies. What is the Current System? Under the current system, an insurance firm wishing to introduce a new product… Continue reading Explained: How ‘Use and File’ system will bring new health insurance products faster
In a first, IIM-Ahmedabad brings out agriculture land price index
What is the News? IIM-Ahmedabad(IIM-A) has joined hands with SFarms India (an e-marketplace for agricultural land) to launch a farm land price index called IIM-Ahmedabad SFarmsIndia Land Price Index (ISALPI). What is IIM-Ahmedabad SFarmsIndia Land Price Index (ISALPI)? Launched by: IM-Ahmedabad(IIM-A) and SFarms India (an e-marketplace for agricultural land). Purpose: The index has been designed… Continue reading In a first, IIM-Ahmedabad brings out agriculture land price index
India to oppose continuation of moratorium on customs duties on e-com trade at WTO meet
What is the News? India will strongly oppose the continuation of the moratorium on customs duties on e-commerce trade at the World Trade Organization(WTO)’s 12th Ministerial Conference (MC12) in Geneva, Switzerland. What is the E-transmission Moratorium? WTO members have agreed not to impose customs duty on electronic transmission since 1998 and the moratorium has been… Continue reading India to oppose continuation of moratorium on customs duties on e-com trade at WTO meet
Cabinet approves Expanding the mandate of Government e Marketplace – Special Purpose Vehicle (GeM – SPV) to allow procurement by Cooperatives as Buyers
What is the News? The Union Cabinet has given its approval for expanding the mandate of Government e-Marketplace(GeM) to allow procurement by Cooperatives as buyers on GeM. What is the Government e-Marketplace(GeM)? Launched by: Ministry of Commerce and Industry in 2016. Aim: To create an open and transparent procurement platform for Government buyers. At present,… Continue reading Cabinet approves Expanding the mandate of Government e Marketplace – Special Purpose Vehicle (GeM – SPV) to allow procurement by Cooperatives as Buyers
