What is the News? International Financial Services Centres Authority (IFSCA) has released the draft IFSCA (Insurance Web Aggregator) Regulations, 2021. The regulations provide for eligibility criteria, registration process and permissible activities for Insurance Web Aggregator. What is IFSCA? IFSCA was established in 2020 under the International Financial Services Centres Authority Act, 2019. Purpose: The IFSCA… Continue reading IFSC Authority invites comments on consultation paper on proposed IFSCA (Insurance Web Aggregator) Regulations, 2021
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.
KVIC Rolls Out Unique Business Model to Handhold 70 Women Agarbatti Artisans in Assam
What is the News? Khadi and Village Industries Commission(KVIC) has created a unique business model to empower women Agarbatti artisans in Assam and strengthen the local Agarbatti industry. What is the model adopted by KVIC? KVIC has engaged 70 tribal women belonging to 7 self-help groups (SHGs) under the Prime Minister’s Employment Generation Program(PMEGP). These… Continue reading KVIC Rolls Out Unique Business Model to Handhold 70 Women Agarbatti Artisans in Assam
NEIA SCHEME
What is the News? The Ministry of Commerce and Industry has informed the Lok Sabha about the National Export Insurance Account(NEIA) Trust. What is the National Export Insurance Account(NEIA) Trust? NEIA Trust was set up in 2006 by the Ministry of Commerce and Industry. Aim: To ensure the availability of credit risk cover for projects… Continue reading NEIA SCHEME
Set up a council for all forms of media: Parliamentary panel
What is the News? The Parliamentary Standing Committee on Communications and Information Technology has submitted two reports titled “Ethical Standards In Media Coverage” and “Suspension Of Telecom Services/Internet And Its Impact” to the Parliament. What are the recommendations given by the Ethical Standards In Media Coverage report? Setup a Media Council: A ‘Media Council’ should… Continue reading Set up a council for all forms of media: Parliamentary panel
NITI Aayog organises knowledge sharing workshop on Natural Farming
What is the News? Niti Aayog has organized a knowledge-sharing workshop on Natural Farming. What is Natural Farming? Natural Farming can be defined as “chemical-free farming and livestock-based”. It is a diversified farming system that integrates crops, trees and livestock, allowing the optimum use of functional biodiversity. Natural Farming has many indigenous forms in India, the… Continue reading NITI Aayog organises knowledge sharing workshop on Natural Farming
Periodic Labour Force Survey (PLFS) – Quarterly Bulletin (January-March 2021)
What is the News? The National Statistical Office (NSO) has released the quarterly bulletin of Periodic Labour Force Survey (PLFS) for January-March 2021. What is the Periodic Labour Force Survey(PLFS)? The National Statistical Office(NSO) has launched Periodic Labour Force Survey (PLFS) in April 2017. Objectives of PLFS: The objective of PLFS is primarily twofold: To… Continue reading Periodic Labour Force Survey (PLFS) – Quarterly Bulletin (January-March 2021)
RBI for widening scope of ‘bank note’ to include digital currency
What is the News? The Reserve Bank of India(RBI) has proposed amendments to the Reserve Bank of India Act, 1934 to enhance the scope of the definition of ‘bank note’ to include currency in digital form. This would allow RBI to launch a Central Bank Digital Currency(CBDC). Moreover, on Bitcoin, the Government has informed that… Continue reading RBI for widening scope of ‘bank note’ to include digital currency
Nearly 33% of India’s medical devices capacity lying unused: Industry
What is the News? According to a report, Indian medical device makers are now struggling with idle capacity. What are the issues faced by the Medical Devices sector currently? Medical Devices Lying Idle The Indian Medical Devices Sector had increased its production of ventilators, masks and PPE Kits to meet the demand during the Covid-19… Continue reading Nearly 33% of India’s medical devices capacity lying unused: Industry
Centre may continue to hold at least 26% stake in public sector banks
What is the News? The Government of India will be introducing the Banking Laws (Amendment) Bill 2021 in the upcoming winter session. The Bill seeks to amend the Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1970 and 1980 and incidental amendments to Banking Regulation Act,1949. What are the key provisions of the Banking Laws… Continue reading Centre may continue to hold at least 26% stake in public sector banks
Bring in three-rate GST structure, says study by Finance Ministry-backed think-tank
What is the News? National Institute of Public Finance and Policy (NIPFP), an autonomous think tank backed by the Finance Ministry, has released a study titled “Revenue Implications of GST Rates Restructuring in India: An Analysis”. The study has suggested the Government to rationalise the GST rates without losing revenues. What is the current GST… Continue reading Bring in three-rate GST structure, says study by Finance Ministry-backed think-tank
