Why in News? Reserve Bank of India(RBI) has retained SBI, ICICI and HDFC Bank in Domestic Systemically Important Banks (D-SIBs) list or banks that are considered as “Too Big To Fail”. Facts: Domestic Systemically Important Banks(D-SIBs): D-SIBs are banks that are Too Big To Fail(TBTF). According to RBI, banks become D-SIBs due to their size, cross-jurisdictional activities, complexity and lack of substitute and interconnection. Banks, whose assets exceed 2% of GDP are considered part of this group. Significance of… Continue reading Too Big To Fail: Domestic Systemically Important Banks (D-SIBs)
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.
‘MICE’ tourism policy of Gujarat
Why in News: Gujarat CM has announced the tourism policy for 2021-25. It seeks to make Gujarat a hub of “MICE” tourism. What is MICE Tourism? The “MICE” is an acronym that stands for “Meetings, Incentives, Conferences and Exhibitions”. It is a version of business tourism that draws domestic and international business tourists to a destination. What are the salient features of MICE tourism policy? International Events: Policy… Continue reading ‘MICE’ tourism policy of Gujarat
Startup India Seed Fund
Why in News? Rs 1,000-crore ‘Startup India Seed Fund’ was launched during the ‘Prarambh: Startup India International Summit’. Salient features of Startup India Seed Fund Scheme: Objective: Fund has been set up to provide initial capital to the startups. After that start-ups will be provided with the Govt. Guarantees, to help them raise debt capital. Coverage: The fund would offer financial assistance to startups for… Continue reading Startup India Seed Fund
INSPIRE Faculty produced heat-tolerant wheat varieties resulting in improved grain yield
News: Researchers of the INSPIRE Faculty under the Department of Science and Technology(DST) are studying to develop a variety of wheat that does not lose its productivity under heat stress. Facts: Wheat and Heat Stress: Wheat is affected severely by Heat stress as it causes a dramatic reduction in yield as well as quality of… Continue reading INSPIRE Faculty produced heat-tolerant wheat varieties resulting in improved grain yield
Trade with China shrank in 2020, deficit at five-year low
News: According to the data from China’s General Administration of Customs (GAC), India’s trade with China declined in 2020 to the lowest level since 2017, with the trade deficit narrowing to a five-year low as India imported far fewer goods from China. Facts: Source: The Hindu Data Related to Trade between India and China: Bilateral Trade: The… Continue reading Trade with China shrank in 2020, deficit at five-year low
Union Minister inaugurates the ‘Prarambh: Startup India International Summit’
News: Union Minister of Commerce has inaugurated the ‘Prarambh: Startup India International Summit’. Facts: Prarambh: Startup India International Summit: The summit has been organized by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry. The summit is organized as a follow-up to the announcement made by the Indian Prime Minister at the… Continue reading Union Minister inaugurates the ‘Prarambh: Startup India International Summit’
Grid-connected Rooftop Solar Scheme
News: Ministry of New and Renewable Energy (MNRE) has cautioned consumers against rooftop solar companies that are claiming to be authorised vendors for the implementation of the Grid-connected Rooftop Solar Scheme. The scheme is being implemented only by power distribution companies(DISCOMS). Facts: Grid-connected Rooftop Solar Scheme(Phase-II): The scheme aims to generate solar power by installing solar… Continue reading Grid-connected Rooftop Solar Scheme
After rice, India’s wheat exports register highest ever export in six years: US Department of Agriculture.
News: US Department of Agriculture(USDA) has released its forecast of Indian wheat exports for 2020-21(July-June). USDA has estimated India’s Wheat Exports for 2020-21 (July-June) to be around 1.8 million tonnes (mt), as against its earlier estimate of one mt. That would be the highest ever in the last six years. Facts: India’s Wheat Exports: Source:… Continue reading After rice, India’s wheat exports register highest ever export in six years: US Department of Agriculture.
RBI constituted Jayant Kumar Dash committee to study Digital lending activities
News: Reserve Bank of India(RBI) has constituted a working group on digital lending — including online platforms and mobile apps. Facts: Objective: The working group will study digital lending activities in the regulated and unregulated financial sector so that an appropriate regulatory approach can be put in place. Composition: The working group comprises six members–four… Continue reading RBI constituted Jayant Kumar Dash committee to study Digital lending activities
BEE Launches SAATHEE Portal to Track State Energy Efficiency Targets
News: Bureau of Energy Efficiency(BEE) has launched SATHEE Portal and Standards and Labelling Programme for Air Compressors and Ultra High Definition(UHD) TV during the 30th National Energy Conservation Awards(NECA). Facts: SATHEE Portal: SAATHEE stands for State-wise Actions on Annual Targets and Headways on Energy Efficiency. Purpose: It is a Management Information System (MIS) portal which will facilitate real-time… Continue reading BEE Launches SAATHEE Portal to Track State Energy Efficiency Targets
