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
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.
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’
EAC-PM: 3 new members inducted
What is the News? The Government of India has reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM) under the leadership of Dr Bibek Debroy for a period of two years after its term came to an end in September 2021. What is the Economic Advisory Council to the Prime Minister(EAC-PM)? EAC-PM is a… Continue reading EAC-PM: 3 new members inducted
How ONDC seeks to democratize digital commerce
Contents1 What is the News?2 What is the aim of ONDC?3 How would ONDC work?4 What issues does the ONDC seek to address? What is the News? The Department for Promotion of Industry and Internal Trade(DPIIT) is building an Open Network for Digital Commerce(ONDC) which is designed to curb digital monopolies and standardize the on-boarding… Continue reading How ONDC seeks to democratize digital commerce
Union Minister for MSME Narayan Rane launches “SAMBHAV” National Level Awareness Programme, 2021
What is the news? “SAMBHAV”, a National Level Awareness Programme-2021, being organised by Ministry of Micro, Small & Medium Enterprises. What is SAMBHAV? SAMBHAV calls for engagement of the youth in promoting entrepreneurship, leading to the economic development of the country. The mass outreach program is a one-month long initiative under the Ministry of MSME… Continue reading Union Minister for MSME Narayan Rane launches “SAMBHAV” National Level Awareness Programme, 2021
