The Reserve Bank of India has successfully concluded a forex swap auction intended to ease liquidity conditions.The central bank bought the targeted $5 billion as part of the long term Dollar/Rupee swap auction with a three-year tenor.In turn, Rs 34,561 crore was infused into the Indian banking system. Recently,RBI has decided to inject long-term liquidity… Continue reading RBI receives aggressive bids, infuses ₹34,500 cr. liquidity
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.
Shift to formal trade slower than expected
According to a recent report,Goods and Services Tax (GST) which was introduced in 2017 has seen the Indirect tax collections increased.However, shift in trade towards a formal economy has been slower than expected. The report also said that under GST regime,the manufacturing sector witnessed an increase in working capital requirements while the services sector has… Continue reading Shift to formal trade slower than expected
Let Finance Commission function the way it does now
According to former Reserve Bank of India Governor,Finance Commission should be allowed to function in the same manner as it is doing currently.He said that the permanent structure would dilute the neutrality of the Finance Commission between the Union and the States through a process of continuous association with the government. Earlier,Present RBI Governor had… Continue reading Let Finance Commission function the way it does now
Focus is now on personal insolvency: Injeti Srinivas
Corporate Affairs Secretary has said that majority of corporate insolvency cases have been resolved and the focus is now on resolving personal insolvency. Insolvency is a term for when an individual or organization can no longer meet its financial obligations with its lender as debts become due.There are different types of insolvency procedure for individuals… Continue reading Focus is now on personal insolvency: Injeti Srinivas
Norms soon for regulatory sandbox for fintech sector
Addressing the Fintech conclave,Reserve Bank of India Governor said that RBI will release the guidelines for the creation of a ‘regulatory sandbox’ for the fintech sector. NITI Aayog had organised FinTech Conclave.The objective was to deliberate steps for India’s rise in Financial Technology (FinTech) and to deepen financial inclusion. FinTech or financial technology is an… Continue reading Norms soon for regulatory sandbox for fintech sector
IRDAI moots public disclosure norm
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a draft detailing the Public disclosure norms.The draft requires insurers to share details about their financials performance at specified intervals.These norms are proposed to be implemented from 2019-20. IRDAI has said that the objectives of the norms is to (a)ensure safety of policyholders (b)serve… Continue reading IRDAI moots public disclosure norm
Lesser clicks, a boon for bricks
The Department of Industrial Policy & Promotion new rules on the foreign direct investment (FDI) policy for e-retail has benefitted the offline retailers also known as brick and mortar (B&M) retail sector. Brick and mortar(B&M) refers to businesses that are bound to a physical space,like a specific building that customers go to in order to… Continue reading Lesser clicks, a boon for bricks
Protect ocean ecosystem, tap blue economy: V Naidu
India’s Vice President Venkaiah Naidu has said that any further degradation of marine ecosystems should be prevented. He also advocated that India should reap the enormous potential of ‘blue economy’ to achieve higher economic growth. Blue economy is the sustainable use of ocean resources for economic growth, improved livelihood and jobs, and ocean ecosystem health.… Continue reading Protect ocean ecosystem, tap blue economy: V Naidu
Punjab and Haryana likely to reap a bumper crop of wheat
Punjab and Haryana are expected to reap a bumper harvest of wheat due to an extended winter and good rain spells during the ongoing Rabi season. In India, there are two major cropping seasons: a) Kharif and b) Rabi. Another cropping season Zaid i.e. summer season (March to June). Examples of Zaid cops are watermelon,… Continue reading Punjab and Haryana likely to reap a bumper crop of wheat
Initials hurdle hits PAN-Aadhaar link
According to Income tax officials,people may not be able to file their income tax returns for the coming financial year.It is because they are unable to link their Aadhaar to the Permanent Account Number(PANs). Since a person’s identity is authenticated biometrically,Aadhaar allows initials in the name.On the other hand,PAN is based on an old system… Continue reading Initials hurdle hits PAN-Aadhaar link
