What is the News? The Union Minister for Power has launched the Virtual Smart Grid Knowledge Center (Virtual SGKC) and Innovation Park. What is Virtual Smart Grid Knowledge Center(Virtual SGKC)? SKGC has been established by PowerGrid with support from the Ministry of Power and National Smart Grid Mission(NSGM) and technical assistance from United States Agency… Continue reading Union Minister for Power launch Virtual Smart Grid Knowledge Center and Innovation Park
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.
Amendments proposed to make land pooling mandatory
What is the News? The Union Minister for Housing and Urban Affairs has said that amendments will be made to the Delhi Development Act, 1957, to speed up the Land Pooling Policy. What is land pooling? Land Pooling Policy means that government agencies consolidate parcels of land and design or develop it with infrastructures like… Continue reading Amendments proposed to make land pooling mandatory
Brahmaputra (NW2) gets connected with Ganga (NW1) via Indo Bangladesh Protocol Route
What is the News? India has successfully conducted the maiden voyage of foodgrains via inland waterways from Patna to Pandu through Bangladesh in Guwahati. What has happened? A self propelled vessel MV Lal Bahadur Shastri carrying foodgrains for Food Corporation of India (FCI) has completed the maiden pilot run from Patna to Pandu via Bangladesh.… Continue reading Brahmaputra (NW2) gets connected with Ganga (NW1) via Indo Bangladesh Protocol Route
Union Minister of Railways inspects the trial of Kavach System
What is the News? Union Minister of Railways has inspected the trial of ‘Kavach’ working system in Secunderabad Division of South Central Railway. What is Kavach? KAVACH is an indigenously developed Automatic Train Protection(ATP) System for Indian Railways. Main Function of Kavach: It is designed to bring a train to a halt automatically when it… Continue reading Union Minister of Railways inspects the trial of Kavach System
Finance Minister launches e-Bill system on 46th Civil Accounts Day
What is the News? The Union Minister for Finance has launched the e-Bill system for Central Government Ministries on the 46th Civil Accounts Day. What is the e-Bill System? Aim: To make the entire process of submission and backend processing of bills completely paperless and transparent for Central Government Ministries. Developed by: Public Financial Management… Continue reading Finance Minister launches e-Bill system on 46th Civil Accounts Day
Explained: Why digital lenders have come under the scanner
What is the News? RBI has cancelled the Certificate of Registration(CoR) issued to P C Financial Services Pvt Ltd, which was primarily engaged in mobile app-based lending operations through an app called ‘Cashbean’. The registration was cancelled as the company was found charging a usurious rate of interest and other charges to its borrowers in… Continue reading Explained: Why digital lenders have come under the scanner
What rising loan disbursals mean for the economy?
What is the News? There has been a rise in lending by commercial banks in recent months. This has come after nearly two years of dismal banking operations due to the Covid-19 pandemic. According to RBI data, Bank credit growth for 2021 was at 9.2% as against 6.6% for 2020. How does bank credit help… Continue reading What rising loan disbursals mean for the economy?
Russia-Ukraine crisis may give India opportunity to export more wheat
What is the News? The Russia-Ukraine conflict may give India an opportunity to ship more wheat in the global markets. How much do Russia and Ukraine contribute to Wheat exports? Russia is the world’s largest exporter of wheat, accounting for more than 18% of international exports. In 2019, Russia and Ukraine together exported more than… Continue reading Russia-Ukraine crisis may give India opportunity to export more wheat
Role of Market Infrastructure Institutions(MIIs)
What is the News? National Stock Exchange(NSE), the country’s largest equities and derivatives exchange was fined by SEBI for laxity in governance pertaining to actions taken during the tenure of its former MD. While penalising NSE, SEBI also noted that the NSE was a systemically important market infrastructure institution (MII). What are Market Infrastructure Institutions… Continue reading Role of Market Infrastructure Institutions(MIIs)
What Industrial Outlook Survey findings show
What is the News? The 96th round of the Industrial Outlook Survey of the Manufacturing Sector for Q3 2021-22. What is the Industrial Outlook Survey of the Manufacturing Sector? Released by: Reserve Bank of India(RBI) Purpose: To capture a qualitative assessment of the business climate and expectations for the ensuing quarter. What does the 96th… Continue reading What Industrial Outlook Survey findings show
