News: Union Minister of Micro, Small and Medium Enterprises(MSMEs) has launched Credit Guarantee Scheme for Subordinated Debt(CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”. Facts: Aim: To extend support to the promoters of the operational MSMEs which are stressed and have become NPA as on 30th April, 2020. Guarantee: It provides a… Continue reading Government launches another funding scheme to help the distressed MSME sector
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.
RBI proposes new rules for housing finance companies
News: Reserve Bank of India(RBI) has proposed new guidelines for Housing Finance Companies(HFCs). Facts: What are Housing Finance Companies(HFC)? It means financing for purchase, construction or repair of residential dwelling units and some other activities including giving loans to corporates and government agencies for employee housing projects. All other loans including those given for furnishing… Continue reading RBI proposes new rules for housing finance companies
World Investment Report
News: The World Investment Report 2020 has been released by the UN Conference on Trade and Development(UNCTAD). Facts: The World Investment Report has been published annually since 1991.It covers the latest trends in foreign direct investment around the world. Key Takeaways: India was the world’s 9th largest recipient of foreign direct investments (FDI) in 2019… Continue reading World Investment Report
India’s first gas trading platform launched
News: Union Petroleum Minister has inaugurated the Indian Gas Exchange (IGX). Facts: Indian Gas Exchange(IGX): It is India’s first online natural gas trading platform that will enable market participants to trade in standardised gas contracts. It is owned and operated by the Indian Energy Exchange(IEX). Significance: It is expected to facilitate overall transparent price discovery… Continue reading India’s first gas trading platform launched
India stares at 5th recession: How is it different from the past downturns?
News: India is staring at the 5th recession which will be different from previous recessions and will come with a fresh set of challenges. Facts: Recession: It is generally defined as a fall in the overall economic activity for two consecutive quarters (six months) accompanied by a decline in income, sales and employment. Previous Recessions:… Continue reading India stares at 5th recession: How is it different from the past downturns?
RBI panel to review ownership of private banks
Facts: Reserve Bank of India (RBI) has constituted a five-member Internal Working committee to review ownership guidelines and corporate structure for ‘Indian Private Sector Banks’.It is headed by P K Mohanty.
Reserve Bank proposes to shore up bank boards
News: The Reserve Bank of India(RBI) has issued a discussion paper on ‘Governance in Commercial Banks’.The discussion paper aims to create a clearly definable separation between the board and the management of a bank. Facts: Guidelines Coverage: The guidelines are applicable to private, foreign and public sector banks. It will come into effect within six… Continue reading Reserve Bank proposes to shore up bank boards
Explained: Shapes of Economic Recovery
News: As India is going to come out of the Covid-19 lockdown, experts are debating over the shape of recovery of Indian economy. Facts:
Economy to contract by 3.2% this fiscal, says World Bank
News: The World Bank has released the Global Economic Prospects (GEP) June 2020 report. Facts: Global Economic Prospects is a World Bank Group flagship report that is issued twice a year, in January and June. Aim: To examine global economic developments and prospects with a special focus on emerging markets and developing economies. Key Takeaways:… Continue reading Economy to contract by 3.2% this fiscal, says World Bank
RBI creates Payment Infrastructure Development Fund
News: Reserve Bank of India(RBI) has created a Payment Infrastructure Development Fund of Rs 500 crores. Facts: Aim: To encourage the deployment of Points of Sale(PoS) infrastructure both physical and digital modes in smaller cities, towns and north eastern states. Contribution: RBI will make an initial contribution of Rs 250 crore to the fund. The… Continue reading RBI creates Payment Infrastructure Development Fund
