What is the News? India Post Payments Bank(IPPB) has announced the launch of Fincluvation. What is Fincluvation? Fincluvation is a joint initiative to collaborate with the Fintech Startup community to co-create and innovate solutions for financial inclusion. Launched by: India Post Payments Bank(IPPB) and Department of Post(DoP). Tracks: Under the initiative, startups are encouraged to… Continue reading India Post Payments Bank launches ‘Fincluvation’
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.
Central Government amends Nidhi Rules, 2014 to safeguard the interest of general public
What is the News? The government of India has released the Nidhi (amendment) Rules, 2022. This amendment brings changes to the Nidhi Rules,2014 to safeguard the interest of the general public. What are Nidhi Companies? Nidhi companies are a type of non-bank lenders that raise funds exclusively from their members and give loans to them… Continue reading Central Government amends Nidhi Rules, 2014 to safeguard the interest of general public
India’s Non-basmati rice exports grow by 109% since 2013-14 to USD 6115 million
What is the News? As per Government data, India’s non-basmati rice exports witnessed a significant growth of 109% from USD 2925 million in FY 2013-14 to USD 6115 million in FY 2021-22. What has been the trend in the exports of Non-Basmati Rice? Any rice other than Basmati Rice is named as Non- Basmati rice.… Continue reading India’s Non-basmati rice exports grow by 109% since 2013-14 to USD 6115 million
National Highways Precast Concrete Policy
What is the News? The Ministry of Road Transport & Highways(MORT&H) has released the National Highways Precast Concrete Policy. What is Precast Concrete? Precast concrete is reinforced concrete that is cast away from the building site and assembled on site. Advantages of Precast Concrete: 1) All-weather and fast construction, 2) Reliable quality & enhanced performance… Continue reading National Highways Precast Concrete Policy
Multi-Level Marketing and Pyramid Scheme – Explained: The case against Amway
What is the News? The Enforcement Directorate (ED) has provisionally attached assets worth Rs 757.77 crore belonging to M/s Amway India Enterprises Private Limited in connection with a money laundering case. What is Amway case about? Amway is a US-based company founded in 1959. It is a direct seller of FMCG products in health, nutrition,… Continue reading Multi-Level Marketing and Pyramid Scheme – Explained: The case against Amway
Gati Shakti may enable faster implementation of dedicated freight corridors
What is the News? Prime Minister’s Gati Shakti – National Master Plan which is being adopted by every infrastructure department is set to enable faster implementation of the Dedicated Freight Corridors(DFCs). What is PM Gati Shakti? Click Here to read about it What are Dedicated Freight Corridors(DFCs)? Click Here to read about it How is… Continue reading Gati Shakti may enable faster implementation of dedicated freight corridors
Explained: What is parboiled rice, and why Center wants to stop purchasing it
What is the News? Telangana Chief Minister has staged a dharna demanding a uniform paddy procurement policy. This protest came after the Center said it was stopping the purchase of excess Parboiled Rice of which Telangana is a major producer. What is Parboiled Rice? The dictionary meaning of ‘parboil’ is ‘partly cooked by boiling’. Thus,… Continue reading Explained: What is parboiled rice, and why Center wants to stop purchasing it
Egypt approves India as wheat supplier
What is the News? Egypt has approved India as a wheat supplier. This comes amid a sharp dip in global wheat production, largely because of the Russia-Ukraine war. About Wheat Wheat is a Rabi Crop. It is the second most important cereal crop in India after rice. It is mostly consumed in the north and… Continue reading Egypt approves India as wheat supplier
Expert Committee on Longevity Finance recommends setting up of Longevity Hub at GIFT-IFSC
What is the News? International Finance Services Centers Authority(IFSCA) had constituted an Expert Committee on Longevity Finance. It was co-chaired by Ms. Kaku Nakhate and Mr. Gopalan Srinivasan. The committee has now submitted its final report to IFSCA. What is Longevity? Longevity has no set definition and means different things for different people. To some,… Continue reading Expert Committee on Longevity Finance recommends setting up of Longevity Hub at GIFT-IFSC
Explained: Why lemons are so costly now
What is the News? Over the last few weeks, the price of lemon has touched unprecedented highs, with a single lemon selling between Rs 10 and Rs 15 in most markets. What is Lemon(Nimbu)? In India, Nimbu comes under two broad categories: lemon and lime. The small, round and thin-skinned kaagzi is the most commonly… Continue reading Explained: Why lemons are so costly now
