News:The Reserve Bank of India has revised its supervisory framework for urban co-operative banks(UCBs) to expedite resolution of UCBs experiencing financial stress. Facts: About the revised framework: The framework imposes restrictions on urban cooperative banks(UCBs) for deterioration of financial position in line with the prompt corrective action(PCA) framework that is imposed on commercial banks. The… Continue reading Stressed urban cooperative banks to face PCA-like curbs
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.
‘Mindset to blame for poor response to NPS’
News:According to the Pension Fund Regulatory and Development Authority (PFRDA),National Pension System (NPS) is a less-preferred saving option due to a certain mindset of individuals and corporates. Facts: The PFRDA has said that there are around 7,000 corporates companies registered with PFRDA.However, only 2-4% of employees of these registered companies are covered under NPS. Further,the… Continue reading ‘Mindset to blame for poor response to NPS’
2nd National GST Conference held for streamlining GST system
News:The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax was held under the chairmanship of Revenue Secretary,Ministry of Finance. Facts: About the conference: The conference was aimed to build synergy and to share their knowledge and best practices with the intent to bring about uniformity in tax… Continue reading 2nd National GST Conference held for streamlining GST system
NSE launches AI-powered learning platform NSE Knowledge Hub
News:Union Commerce minister has inaugurated the NSE Knowledge Hub. Facts: About NSE Knowledge Hub: The ‘NSE Knowledge Hub’ is an Artificial Intelligence(AI) powered learning ecosystem. The platform has been developed by NSE Academy, a wholly-owned subsidiary of the National Stock Exchange(NSE). This platform seeks to assist the banking, financial, securities and insurance (BFSI) sector in… Continue reading NSE launches AI-powered learning platform NSE Knowledge Hub
National Pension Scheme for traders fails to gain traction
News:The National Pension Scheme for traders also called the Pradhan Mantri Laghu Vyapari Maan-dhan Yojana has failed to gain traction among the traders. Facts: The Government has set a target of 50 lakh enrolment by the end of March 2020.However,only 25,000 persons have applied so far. Among all states Uttar Pradesh has the highest number… Continue reading National Pension Scheme for traders fails to gain traction
Open Acreage Licensing Programme (OALP)
News: Ministry of Petroleum and Natural Gas signed contracts for 7 blocks, awarded under Open Acreage Licensing Programme (OALP) Bid Round – IV. Facts: Open Acreage Licensing Programme (OALP): Launched in 2016, OALP, is a part of Hydrocarbon Exploration and Licensing Policy (HELP). It is aimed at enabling faster survey and assessment of areas with… Continue reading Open Acreage Licensing Programme (OALP)
RBI launches mobile app MANI
News: The Reserve Bank of India (RBI) has launched a mobile app called MANI’ (Mobile Aided Note Identifier) Facts: About MANI’ (Mobile Aided Note Identifier) It seeks to aid visually impaired persons in identifying the denomination of currency notes. It can scan currency notes using the camera of the mobile phone and gives audio output… Continue reading RBI launches mobile app MANI
Finance Minister unveils ₹102 lakh crore national infrastructure plan
News:Finance Minister has released a report of task force on National Infrastructure on Pipeline(NIP) 2019-2025. Facts: About National Infrastructure on Pipeline(NIP) Task force: The Central Government had constituted a task force to draw up a National Infrastructure Pipeline(NIP) from 2019-20 to 2024-25. The Task Force has been chaired by the Secretary, Department of Economic Affairs,Ministry… Continue reading Finance Minister unveils ₹102 lakh crore national infrastructure plan
Telangana Industrial Health Clinic to spread wings
News:The Telangana Industrial Health Clinic Ltd, an initiative of the Telangana State government has decided to extend its services at pan India level. Facts: About Telangana Industrial Health Clinic Ltd: Telangana Industrial Health Clinic Ltd was established in 2018 as a fintech Non-Banking Finance Company(NBFC). It is a diagnostic and curative initiative for Micro and… Continue reading Telangana Industrial Health Clinic to spread wings
Current account deficit improves to 0.9% of GDP in July-September quarter, says RBI
News:According to Reserve Bank of India data,India’s current account deficit (CAD) has narrowed to 0.9% of GDP($ 6.3 billion). Facts: The contraction in the current account deficit(CAD) was primarily on account of a lower trade deficit at USD 38.1 billion as compared to USD $50 billion a year ago. The private transfer receipts mainly representing… Continue reading Current account deficit improves to 0.9% of GDP in July-September quarter, says RBI
