What is the News? Reserve Bank of India(RBI) has proposed to make cardless cash withdrawal facilities available at all ATMs, irrespective of banks, through the Unified Payment Interface(UPI). What is a cardless cash withdrawal facility? The cardless cash withdrawal facility does not require bank customers to use their debit or credit cards while withdrawing cash… Continue reading RBI proposes to make card-less cash withdrawal facility available across all banks, ATM networks using 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.
India’s Agriculture Exports touch a historic high of USD 50 billion
What is the News? India’s exports of agricultural products (including marine and plantation products) for the year 2021-22 have crossed $50 billion. About India’s Agriculture Exports Agriculture exports have grown by 19.92% during 2021-22 to touch $50.21 billion. This is the highest level ever achieved for agriculture exports. This export growth has been achieved mostly… Continue reading India’s Agriculture Exports touch a historic high of USD 50 billion
Union Minister says Government has launched number of programs to aid Start-ups in technology sectors
What is the News? The Union Minister of Science & Technology has said that the Government has launched a number of programs to aid Startups in technology sectors. What are the programmes launched to aid Startups in technology sectors? National Initiative for Developing and Harnessing Innovations(NIDHI) Launched by: Department of Science & Technology in 2016-17.… Continue reading Union Minister says Government has launched number of programs to aid Start-ups in technology sectors
Broadcast Seva Portal launched for ease of doing business in broadcast
What is the News? The Ministry of Information and Broadcasting has launched the “Broadcast Seva Portal”. What is Broadcast Seva Portal? Launched by: Ministry of Information and Broadcasting(I&B). Purpose: It is an online portal aimed at improving the ease of doing business in the broadcast industry. Features: The portal can be used by broadcasters for… Continue reading Broadcast Seva Portal launched for ease of doing business in broadcast
India’s trade deficit widens 87.5% to record $192 billion
What is the News? According to Government data, India’s trade deficit has increased by 87.5% to a record $192 billion in 2021-22 from $102 billion in the previous financial year. India’s Merchandise Trade Deficit India’s Merchandise exports for 2021-22 were at a record high of $418 billion. Similarly, imports also increased by 43.18% to $610… Continue reading India’s trade deficit widens 87.5% to record $192 billion
Competition Commission of India Revises Long Form for Merger & Acquisitions
What is the News? Competition Commission of India(CCI) has revamped the content and format of information regarding parties to a Combination. They need to file with the CCI when their post-merger market share exceeds a specified threshold. According to the revised format, parties to a Combination need to file a report to the CCI when… Continue reading Competition Commission of India Revises Long Form for Merger & Acquisitions
Government’s emphasis on promoting sunflower area and production in the country
What is the News? The Ministry of Agriculture and Farmers Welfare is focused on promoting the area and production of Sunflower in the country. About Sunflower Sunflower (Helianthus annuus L.) is an important oilseed crop in India, popularly known as “Surajmukhi.” It is known as a sunflower as it follows the sun by day, always… Continue reading Government’s emphasis on promoting sunflower area and production in the country
Shrinkflation: How inflation is downsizing some of your favourite foods
What is the News? Companies are resorting to the strategy of Shrinkflation to reduce the impact of rising input costs. What is Shrinkflation? Shrinkflation is a combination of two words, “shrink” and “inflation”. It is the practice of reducing the size of a product while maintaining its sticker price. Shrinkflation is basically a form of… Continue reading Shrinkflation: How inflation is downsizing some of your favourite foods
Cabinet approves setting up of National Land Monetization Corporation(NLMC)
What is the News? The Union Cabinet has approved the setting up of the National Land Monetization Corporation (NLMC) as a wholly-owned Government of India company with an initial authorized share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore. What is National Land Monetization Corporation(NLMC)? Administrative Ministry: Department of Public… Continue reading Cabinet approves setting up of National Land Monetization Corporation(NLMC)
Zojila tunnel work space, deadline advanced to 2024
What is the News? Zojila tunnel will be opened for defence forces and emergency services by 2024, two years ahead of the 2026 deadline. This will ensure that the mobilization of the Army and machines to the strategic cold desert is no longer affected by closure of five or six months due to snowfall. What… Continue reading Zojila tunnel work space, deadline advanced to 2024
