News:China has started testing its digital currency named e- RMB in four major Chinese cities. Facts: e-RMB is set to be the first digital currency operated by a major economy. People’s Bank of China (PBOC), the country’s central bank will be the sole issuer of the digital currency. This is part of China’s Digital Currency… Continue reading China tests state-run digital currency in 4 cities amid pandemic
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.
CAIT to launch national e-commerce marketplace ‘bharatmarket’ for retail traders
News:Confederation of All India Traders(CAIT) has announced to launch the national e-commerce marketplace “Bharat Market”. Facts: Bharat Marketplace:It will be an e-commerce portal that aims to bring retailers on a single platform to provide end-to-end services in the logistics and supply chains from manufacturers to end consumers including deliveries at home. This initiative also has… Continue reading CAIT to launch national e-commerce marketplace ‘bharatmarket’ for retail traders
International Labour Day 2020
News:May 1 is observed as the International Labour Day in order to celebrate the labours and the working class. Facts: The Labour Day was designated on this day in the memory of the Haymarket affair of 1886 in Chicago, USA. Haymarket Affair:It was a rally in support of workers demanding an eight-hour workday.This resulted in… Continue reading International Labour Day 2020
Kovilpatti Kadalai Mittai and Kashmir saffron gets GI tag
News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Kovilpatti Kadalai Mittai and Kashmir saffron. Facts: Kovilpatti Kadalai Mittai: It is peanut candy made in southern parts of Tamil Nadu.The candy is prepared from groundnut and jaggery. Uniqueness: a) Water is exclusively used from the river Thamirabarani and b) Production process is done… Continue reading Kovilpatti Kadalai Mittai and Kashmir saffron gets GI tag
1.6 billion at the risk of losing jobs, warns ILO
News:According to the International Labour Organization(ILO) report, nearly half of the global workforce is at risk of losing livelihoods due to COVID-19. Facts: International Labour Organization(ILO): Established in: 1919 Aim: To promote social and economic justice through setting up of international labour standards. Members: 187 member states Headquarters: Geneva, Switzerland Significance: It is the first… Continue reading 1.6 billion at the risk of losing jobs, warns ILO
GI tag to Manipur black rice, Gorakhpur terracotta
News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Manipur Black Rice and Gorakhpur Terracotta. Facts: Manipur Black Rice: Black rice locally known as chakhao is grown in the plains and hills of Manipur.It owes its colour to natural black pigments called anthocyanins. It is normally eaten during community feasts and is served… Continue reading GI tag to Manipur black rice, Gorakhpur terracotta
Task Force on NIP submits final report to Finance Minister
News:The Task Force on the National Infrastructure Pipeline(NIP) for 2019-25 has submitted its Final Report to the Finance Minister. Facts: National Infrastructure Pipeline(NIP): It is the investment plan unveiled by the Central Government for enhancing infrastructure in identified sectors for a period of five years from 2020-25 with the aim to help India reach a… Continue reading Task Force on NIP submits final report to Finance Minister
International Financial Services Centres Authority
News:Government of India has notified the establishment of International Financial Services Centres Authority(IFSCA). Facts: IFSCA was established to regulate the financial services market in the International Financial Services Centres set up under the Special Economic Zones Act, 2005. Composition:It consists of nine members: a) Chairperson b) members each from the RBI, SEBI, IRDAI, PFRDA c)… Continue reading International Financial Services Centres Authority
RBI announces special liquidity facility for mutual funds
News: Reserve Bank of India(RBI) has announced a special window of ₹50,000 crore for Mutual Funds in view of the pressure that the fund houses are facing in the wake of the Coronavirus pandemic. Facts: Mutual Funds: It is a type of financial vehicle made up of a pool of money collected from many investors… Continue reading RBI announces special liquidity facility for mutual funds
World Bank Migration and Development Brief
News:The World Bank has released its report “Migration and Development Brief”. It focuses on COVID-19 Crisis Through a Migration Lens. Facts: The report is prepared by the Migration and Remittances Unit- the research and data arm of the World Bank.It is released twice a year. Aim:To provide an update on key developments in the area… Continue reading World Bank Migration and Development Brief
