The Reserve Bank of India(RBI) has issued a revised prudential framework for resolution of stressed assets. This revised circular was issued after Supreme Court had declared the RBI’s February 12 circular on the resolution of stressed loans as unconstitutional. This framework will apply to accounts worth Rs 2,000 crore and above but from January 1,2020… Continue reading RBI revises stressed asset resolution norms
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.
Draft bill moots 10-year jail for crypto dealing
Government has introduced a draft bill on Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019. The draft bill says that anybody who mine, hold, transact or deal with cryptocurrencies in any form whether directly or indirectly through an exchange or trading can attract a jail term of one to 10 years. The… Continue reading Draft bill moots 10-year jail for crypto dealing
SEBI, MCA sign pact for more data scrutiny
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
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
