News:Union Finance Minister has launched an eBkray or eBक्रय which is a common e-auction platform. Facts: About the eBkray platform: The eBkray platform enables the online auction of the attached assets transparently and cleanly for the improved realization of value by the Public Sector banks(PSBs). The platform is equipped with property search features and navigational… Continue reading Finance Minister launches ‘eBkray’ online auction platform for assets attached by banks
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.
MOSPI constitutes committee on economic statistics
News:The Ministry of Statistics and Programme Implementation(MOSPI) has constituted a Standing Committee on Statistics(SCES). Facts: Background: The committee has been constituted after several economists had expressed concern over political interference in influencing statistical data in India. They had called for restoration of institutional independence and integrity to the statistical organisations. About the committee: The committee… Continue reading MOSPI constitutes committee on economic statistics
RBI directs large co-op banks to report all exposures above Rs.5 crore
News:The Reserve Bank of India(RBI) has directed large cooperative banks to report all aggregate exposures of Rs.5 crores and more to Central Repository of Information on Large Credits(CRILC). Facts: About CRILC: The Reserve Bank of India has created a CRILC of commercial banks, certain Non-Banking Financial Companies (NBFCs) and All India Financial Institutions(AIFIs). CRILC collects,… Continue reading RBI directs large co-op banks to report all exposures above Rs.5 crore
India may surpass Germany to become the fourth-largest economy in 2026:Report
News:The UK-based Centre for Economics and Business Research (CEBR) has released a report titled ‘World Economic League Table 2020’. Facts: About the report: The World Economic League Table is an annual calculation by Centre for Economics and Business Research (CEBR) jointly published by CEBR and Global Construction Perspectives. The base data for 2019 is taken… Continue reading India may surpass Germany to become the fourth-largest economy in 2026:Report
Financial system stable despite slowdown:RBI report
News:The Reserve Bank of India has released its biannual Financial Stability Report,2019. Facts: About Financial Stability Report: The Financial Stability Report are bi-annual reports published by the Reserve Bank of India(RBI). The report is the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability. It reviews… Continue reading Financial system stable despite slowdown:RBI report
Scheme for Enhancement of Competitiveness in Capital Goods Sector to be Scaled up
News:Ministry of Heavy Industries and Public Enterprises is implementing the scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector. Facts: About the scheme: Department of Heavy Industry in the Ministry of Heavy Industries and Public Enterprises had launched the scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector in 2014. The… Continue reading Scheme for Enhancement of Competitiveness in Capital Goods Sector to be Scaled up
GST Council to set up grievance redressal mechanism for taxpayers
News:The GST Council has decided to set up a grievance redressal mechanism for taxpayers. Facts: About Grievance Redressal Committee(GRC): The Grievance Redressal Committee(GRC) at zonal and state levels will be set up as a redressal mechanism for taxpayers. It will consist of both central tax and state tax officers, representatives of trade and industry and… Continue reading GST Council to set up grievance redressal mechanism for taxpayers
Govt forms expert panel for time-bound resolution of disputes in oil & gas sector
News:Government has constituted a Committee of External Eminent Persons/Experts for time-bound resolution of disputes in Oil and gas sector. Facts: About the committee: The committee will consist of three members.It will help the oil and gas sector get rid of disputes without having to resort to tardy judicial process. The committee will have a tenure… Continue reading Govt forms expert panel for time-bound resolution of disputes in oil & gas sector
India in the midst of significant slowdown:IMF
News:The International Monetary Fund (IMF) has released its consultations report on India. Facts: Key takeaways from the report: The report has said that India’s rapid economic expansion in recent years has lifted millions of people out of poverty. However in 2019, a combination of factors led to subdued economic growth in India. India is now… Continue reading India in the midst of significant slowdown:IMF
Economic revival key to banks’ health
News:The Reserve Bank of India has released a report titled Trend and Progress of Banking in India 2018-19. Facts: Key Highlights from the report: What are the positives in the Banking sector? The Indian banking sector’s financial parameters such as bad loans and capital adequacy have shown an improvement in recent times. In 2018-19, the… Continue reading Economic revival key to banks’ health
