The Reserve Bank of India(RBI) has started monitoring the liquidity position,asset-liability gap and repayment schedules of housing finance companies(HFCs) on a daily basis. The move to monitor HFCs on a daily basis comes after some HFC had gone into liquidity crisis which had resulted in defaults.This crisis had started since the debt default by IL&FS… Continue reading RBI begins monitoring HFCs
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.
Payments data must be saved locally: RBI
The Reserve Bank of India (RBI) has clarified that payment system providers need to store entire payments data in a system only in India. The data should include end-to-end transaction details and information pertaining to payment or settlement transaction that is gathered, transmitted as part of a payment message or instruction. The data could be… Continue reading Payments data must be saved locally: RBI
APEDA Organizes buyers-sellers meet
Agricultural & Processed Food Products Export Development Authority (APEDA) in association with North Eastern Regional Agricultural Marketing Corporation(NERAMAC) has organised the International Buyers-Sellers Meet in Imphal,Manipur. APEDA chairman said that India’s total agricultural product exports is valued at 38 billion USD for the financial year 2017-18 out of which 50% is contributed through APEDA’s products.… Continue reading APEDA Organizes buyers-sellers meet
U.S.-China trade war may reduce global growth rate
According to Fitch Ratings,the ongoing U.S.-China trade war escalation could reduce the World GDP growth by 0.4% points till 2020 and possibly lead to the lowest growth since 2009. Trade war is a situation where countries restrict each other’s trade by imposing tariffs or quotas on imports.The United States and China are discussing a trade… Continue reading U.S.-China trade war may reduce global growth rate
Centre plans to set up common online platform for RERA of all states, UTs
The Central government has planned to set up a common online platform for the Real Estate Regulatory Authority (RERA) of all states and UTs. The move aims to provide an opportunity to home-buyers, builders and authorities to exchange views. Real Estate (Regulation and Development) Act (RERA) 2016 is a central legislation which aims to regulate… Continue reading Centre plans to set up common online platform for RERA of all states, UTs
Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The committee has recommended a ₹5,000 crore distressed asset fund for micro,small and medium enterprises (MSMEs). The fund will assist units in a cluster where there is a change in the… Continue reading Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
Gross NPAs of banks may shrink to 8 per cent by March 2020: Crisil
According to the Crisil report,public sector banks which account for over 80% of the non-performing assets(NPAs) could see the gross NPAs decreased to 10.6% by March 2020 from a peak of 14.6% in March 2018. The reason attributed to this downfall in the NPAs were highlighted as higher recoveries and slowdown. The Gross NPAs within… Continue reading Gross NPAs of banks may shrink to 8 per cent by March 2020: Crisil
RBI union moots collegium to select governors, deputy governors
The RBI union has proposed a Collegium of experts to appoint governors and deputy governors to ensure central bank autonomy and independence. The collegium should comprise former RBI governors,other prominent central bankers and economists. The recent resignation of the RBI deputy governor at least six months before his term expired is the trigger for mooting… Continue reading RBI union moots collegium to select governors, deputy governors
Bank NPA
Union Minister of Finance informed Lok Sabha about the present state of Bank Non Performing assets(NPA) in India. The minister said that as per RBI provisional data on global operations, the aggregate amount of gross NPAs of Public sector banks(PSBs) and Scheduled Commercial Banks(SCBs) till 31st March,2019 were Rs.8 lakh crore and Rs. 9.5 lakh… Continue reading Bank NPA
Cash in circulation fell post note ban: FM
Finance minister has said that demonetisation along with increased digital transactions and the reduced cash usage in the informal economy has led to a reduction in currency in circulation by ₹3.4 lakh crore. The Government has also said that fake note circulation has also dropped.It quoted RBI reports which said that the number of counterfeit… Continue reading Cash in circulation fell post note ban: FM
