The Reserve Bank of India (RBI) has released its document on ‘Payment and Settlement Systems in India: Vision 2019–2021’. The document with its core theme of ‘Empowering Exceptional E-payment Experience’ envisages to achieve a highly digital and cash-lite society through the goal posts of competition, cost effectiveness, convenience and confidence(4Cs). This document expects the number… Continue reading RBI envisions fourfold growth in digital transactions by 2021
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.
National Training Workshop of Master Trainers for 7th Economic Census
During the run up to the upcoming 7th Edition of Economic Census,a National Training Workshop of the enumerators was organized by the Ministry of Statistics and Program Implementation (MoSPI) in New Delhi. MoSPI has partnered with Common Service Centres,CSC e-Governance Services India Limited,Special Purpose Vehicle (SPV) under the Ministry of Electronics and Information Technology (MeitY)… Continue reading National Training Workshop of Master Trainers for 7th Economic Census
Exports growth slides to four-month low in April
According to data released by the commerce and Industry ministry, India’s trade deficit has widened to a five month high in April 2019 due to higher crude oil imports. India’s export growth has also slowed down to a four month low in April,2019 at 0.64% due to slowdown in labour-intensive sectors such as leather products,… Continue reading Exports growth slides to four-month low in April
TRA unveils AI tool to improve tea quality
Tea Research Association (TRA) has introduced artificial intelligence (AI)-based technology to improve quality. The technology has been developed through a collaboration between TRA and Agnext, a start-up which was incubated by IIT Kharagpur. A machine, called TRA Agnext QualiteaProfiler (QTP) has been developed through this technology. The machine would help determine the fine leaf count… Continue reading TRA unveils AI tool to improve tea quality
India finds OECD index for services trade faulty
India has approached several developing countries during the World Trade Organization(WTO) talks in New Delhi to try to build consensus around the new method of measuring Services Trade Restrictiveness Index (STRI). India has said that the current method under which the Organisation for Economic Cooperation and Development(OECD) ranks countries based on their services trade policies… Continue reading India finds OECD index for services trade faulty
WPI inflation slips to 3.07% in April, food prices still high
The Wholesale price inflation has decreased to 3.07% in April,2019.The reduction has been attributed to cheaper fuel and manufactured items. However,food prices have increased to 33-month high of 7.37%. Wholesale Price Inflation tracks changes in the price of goods in stages before the retail level i.e. goods that are sold in bulk and traded between… Continue reading WPI inflation slips to 3.07% in April, food prices still high
ED questions Kochhars again in loan case
The Enforcement Directorate(ED) has again questioned former ICICI Bank CEO and her husband in an ongoing probe under Prevention of Money Laundering Act(PMLA). ED had registered the case against former ICICI Bank CEO under financial provisions of the PMLA.They are investigating whether she made any personal gains by alleged irregularities in the release of loans… Continue reading ED questions Kochhars again in loan case
Nabard announces ₹ 700-cr venture capital fund for agri, rural startups
The National Bank for Agriculture and Rural Development (NABARD) has announced a Rs 700-crore venture capital fund for equity investments in agriculture and rural-focused startups. The fund has been launched by Nabventures.It is a subsidiary of NABARD and has a proposed corpus of Rs 500 crore. The fund will have a high impact as it… Continue reading Nabard announces ₹ 700-cr venture capital fund for agri, rural startups
Discourse on WTO reform lacks balance
The second informal meeting of trade ministers from about 20 member nations of the World Trade Organization(WTO) has started in India. During the meeting,India has raised the issue of deadlock in WTO’s dispute settlement body and attempts by developed nations to deny developing countries access to certain trade benefits. US has consistently blocked the appointment… Continue reading Discourse on WTO reform lacks balance
CPI inflation quickens to six-month high of 2.92% on food, fuel prices
According to the data released from the Central Statistics Office (CSO), retail inflation for the month of January has increased to a six month high of 2.92%.This has been primarily due to increase in food prices including vegetables, meat, fish and eggs. Retail inflation is based on the Consumer Price Index (CPI).CPI measures changes in… Continue reading CPI inflation quickens to six-month high of 2.92% on food, fuel prices
