Ministry of Corporate Affairs(MCA) and the Securities and Exchange Board of India(SEBI) has signed a Memorandum of Understanding (MOU) for data exchange between the two regulatory organizations. The MoU comes in the backdrop of increasing need for surveillance in the context of Corporate Frauds affecting important sectors of the economy. The MoU will facilitate the… Continue reading SEBI, MCA sign pact for more data scrutiny
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.
SBI to offer home loan linked to repo rate
State Bank of India(SBI) has announced to introduce a repo rate-linked home loan product from July 1,2019.This move seems to be in line with the RBI ‘s direction to the banks to link home loans to an external benchmark. SBI had taken this decision even though RBI had deferred the plan to link the rate… Continue reading SBI to offer home loan linked to repo rate
Indians turn pessimistic as job worries weigh on confidence :survey
The Reserve Bank of India has released the results of the May,2019 round of its Consumer Confidence Survey (CCS). The survey was conducted in 13 Indian cities and was based on responses from several households.The survey indicates optimism above 100 and pessimism below that mark. The survey seeks qualitative responses from households regarding their sentiments… Continue reading Indians turn pessimistic as job worries weigh on confidence :survey
CII launches new Index to measure fiscal performance
Confederation of Indian Industry(CII) has launched a Fiscal Performance Index(FPI).The index is an innovative tool using multiple indicators to study the quality of Budgets at the Central and State levels. The index has been constructed using UNDP’s Human Development Index methodology. The Index incorporates qualitative assessments of (a)revenue expenditure (b)capital expenditure (c)revenues (d)fiscal prudence and… Continue reading CII launches new Index to measure fiscal performance
RBI cuts interest rate by 25 bps
The Reserve Bank of India(RBI) Monetary Policy Committee has unanimously cut the repo rate by 25 basis points from 6% to 5.75%. Repo stands for ‘Repurchasing Option’. Repo rate refers to the rate at which commercial banks borrow money from the RBI. The reverse repo rate was also lowered to 5.50% from 5.75%.The reverse repo… Continue reading RBI cuts interest rate by 25 bps
Commerce Minister addresses meeting of Board of Trade & Council for Trade Development and Promotion
Commerce minister has addressed a joint meeting of the Board of Trade and the Council of Trade Development and Promotion.The meeting was organised by the Ministry of Commerce and Industry and the Directorate General of Foreign Trade(DGFT). The minister has urged the representatives of industry,trade and exports bodies to reduce dependency on subsidies and grants… Continue reading Commerce Minister addresses meeting of Board of Trade & Council for Trade Development and Promotion
RBI waives RTGS, NEFT charges
The Reserve Bank of India(RBI) has announced that it is removing all charges on money transfers done through the RTGS and NEFT modes.This decision was taken to boost the digital funds movement. NEFT stands for National Electronic Fund Transfer.It is a payment system which facilitates one-to-one funds transfer from one financial institution to another. Using… Continue reading RBI waives RTGS, NEFT charges
By 2025, India to have 88 mn 5G connections
According to Global telecom industry body GSMA,India will have 920 million unique mobile subscribers by 2025 which will include 88 million 5G connections. 5G (5th Generation) is a version of mobile communications. It succeeds LTE mobile networks- 4G, 3G, and 2G (GSM). In telecommunication, Long-Term Evolution (LTE) is a standard for wireless broadband communication for… Continue reading By 2025, India to have 88 mn 5G connections
Nirmala Sitharaman to attend G-20 Finance Ministers’ meeting in Japan
Finance Minister will attend the two-day meeting of G-20 Finance Ministers and central bank governors in Japan.The deliberations at this meeting would be followed by the G-20 Leaders Summit scheduled on June 28,2019 at Osaka,Japan. The G-20 finance ministers are likely to discuss issues such as (a)infrastructure investment (b)resilience against natural disasters and (c)strengthening health… Continue reading Nirmala Sitharaman to attend G-20 Finance Ministers’ meeting in Japan
India’s services sector activity growth slips to 12-month low
According to Nikkei India Services Purchasers manager Index(PMI) ,services sector activity has slowed down to 50.2 in May,2019 from 51.0 in April,2019. This slowdown has happened due to disruptions arising from the elections in the month of May which had affected the growth of new work intake. However,the index has said that the slowdown may… Continue reading India’s services sector activity growth slips to 12-month low
