The Reserve Bank of India(RBI) has issued the final framework for regulatory sandbox in order to enable innovations in the financial technology space. Regulatory sandbox(RS) is an infrastructure that helps financial technology (FinTech) players live test their products or solutions before getting the necessary regulatory approvals for a mass launch which saves start-up time and… Continue reading RBI proposes easing of rules for sandbox model
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.
RBI takes over HFC regulation from NHB
The Reserve Bank of India(RBI) has approved a proposal to shift regulation of Housing finance companies(HFCs) from the National Housing Bank(NHB) to the RBI. Hence,HFCs will now be treated as one of the categories of non-banking financial companies(NBFCs) for regulatory purposes. Further,any housing finance institution which is a company desirous of making an application for… Continue reading RBI takes over HFC regulation from NHB
FinMin plans 16-point ‘KRA’ to push PSBs
Finance Ministry has planned to closely monitor Public sector banks (PSBs) achievements on 16 key performance indicators (KPIs) at the branch, region, State and national level. This step was taken in the backdrop of PSBs market share declining while that of private banks is rising.PSBs accounted for 63% of the outstanding credit of scheduled commercial… Continue reading FinMin plans 16-point ‘KRA’ to push PSBs
Why lower fiscal deficit isn’t always good news
According to the data,there is growing concern about the slowdown in India’s economic growth.Recently,RBI had also cut repo rates by 35 basis points, which was the sharpest cut in nine years. In macroeconomy,there are two components.One is the structural or the permanent component which is largely determined in the long term by factors such as… Continue reading Why lower fiscal deficit isn’t always good news
Govt looks to reverse economic slowdown with a stimulus package
The government is planning a set of measures to reverse an economic slowdown that is going through losses, layoffs and an investment freeze. The measures include (a)steps to boost infrastructure investments (b)goods and services tax(GST) relief to specific sectors (c)ways to further cut red tape on cross-border trade and (d)steps to improve ease of doing… Continue reading Govt looks to reverse economic slowdown with a stimulus package
Two ways to look at GDP
Researchers and academicians have raised doubts about the new methodology employed by the Central Statistics Office(CSO) to estimate India’s gross domestic product(GDP). In 2015,CSO had introduced a new series of National Account Statistics. The new series made several changes to estimate India’s gross domestic product(GDP).In particular,it revised the base year from 2004-05 to 2011-12. However,the… Continue reading Two ways to look at GDP
Wage code looks to check graft in inspection system
Parliament has passed the Code on Wages Bill, 2019.The Bill has subsumed existing laws related to workers remuneration. The bill will replace the (a)Payment of Wages Act,1936, (b)Minimum Wages Act,1948 (c)Payment of Bonus Act,1965 and the (d)Equal Remuneration Act,1976. The bill makes it difficult for companies to bribe labour inspectors of their region for favourable… Continue reading Wage code looks to check graft in inspection system
‘Uber for tractors’: Government to launch app to aid farmers
The agriculture ministry has developed a farm equipment rental app for Indian farmers called Uber for tractors. The app will allow the farmers to hire tractors, rotavator and other farm related machinery on rent for with flexible tenure. The farmers who wish to hire equipment can register using their names, addresses and mobile numbers and… Continue reading ‘Uber for tractors’: Government to launch app to aid farmers
FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects
Finance minister has interacted with the industry representatives to understand measures required to remove friction points in the economy. The measures are aimed at ensuring easy availability of funds to productive sectors and stimulate overall growth. The real estate sector has also flagged their concerns regarding the ongoing liquidity crunch,demand slowdown and problem of stalled… Continue reading FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects
Certification of seeds to be made mandatory to step up farm output
The Union Government is planning to mandate uniform certification of seed by amending the Seeds Act,1966. This decision was taken as more than half of all seeds sold by private companies in India are not certified by any proper testing agency. The Centre also hopes to roll out a software to barcode seeds in order… Continue reading Certification of seeds to be made mandatory to step up farm output
