Source: The post is based on the article “India gives Bangladesh key rail infra” published in The Hindu on 24th May 2023 What is the News? India has handed over 20 Broad Gauge (BG) locomotives to neighbouring Bangladesh. In 2020, India provided 10 locomotives to Bangladesh as a grant. These locomotives are performing well and… Continue reading India gives Bangladesh key rail infra
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.
Banks request RBI for more time to implement new ECL-based loan loss provisioning norms
Source: The post is based on the article “Banks request RBI for more time to implement new ECL-based loan loss provisioning norms” published in Indian Express on 22nd May 2023 Contents1 What is the News?2 What is a loan-loss provision?3 What is the current approach followed for loan-loss provision?4 What is Expected Credit Loss (ECL)-based… Continue reading Banks request RBI for more time to implement new ECL-based loan loss provisioning norms
What is the ‘Open Network for Digital Commerce’?
Source: The post is based on the article “What is the ‘Open Network for Digital Commerce’?” published in The Hindu on 22nd May 2023 Contents1 What is the News?2 What is Open Network for Digital Commerce(ONDC)?3 What is the purpose of launching ONDC?4 What is the criticism against ONDC? What is the News? The Union… Continue reading What is the ‘Open Network for Digital Commerce’?
Govt cuts subsidy on electric 2-wheelers
Source: The post is based on the article “Govt cuts subsidy on electric 2-wheelers” published in Livemint on 22nd May 2023 What is the News? Ministry of Heavy Industries has cut the subsidy on electric two-wheelers in an effort to overhaul the financial incentives given to this growing industry. What has been announced by the government… Continue reading Govt cuts subsidy on electric 2-wheelers
Return of ₹2,000 currency notes to bolster bank coffers, money market liquidity: report
Source: The post is based on the article “Return of ₹2,000 currency notes to bolster bank coffers, money market liquidity: report” published in The Hindu on 22nd May 2023 What is the News? According to a report, the Reserve Bank of India’s(RBI) decision to withdraw ₹2,000 notes from circulation is likely to improve banking system… Continue reading Return of ₹2,000 currency notes to bolster bank coffers, money market liquidity: report
SBI’s u-turn: No slip, ID proof needed to swap ₹2,000 notes
Source: The post is based on the article “SBI’s u-turn: No slip, ID proof needed to swap ₹2,000 notes” published in The Hindu on 22nd May 2023 What is the News? State Bank of India(SBI) has withdrawn its decision on the mandatory filing of a slip for the exchange of ₹2,000 banknotes at its branches.… Continue reading SBI’s u-turn: No slip, ID proof needed to swap ₹2,000 notes
Tax waived on annual forex spends up to ₹7 lakh: FinMin
Source: The post is based on the article “Tax waived on annual forex spends up to ₹7 lakh: FinMin” published in The Hindu on 20th May 2023 What is the News? The Finance Ministry has clarified that payments using international debit or credit cards up to Rs 7 lakh per financial year will be excluded… Continue reading Tax waived on annual forex spends up to ₹7 lakh: FinMin
Why has the RBI withdrawn Rs 2,000 notes?
Source: The post is based on the article “Why has the RBI withdrawn Rs 2,000 notes?” published in Indian Express on 20th May 2023 Contents1 What is the News?2 When were Rs 2000 denomination banknotes introduced?3 Why are Rs 2000 denomination banknotes being withdrawn now?4 Will the Rs 2000 banknotes continue to be legal tender?5… Continue reading Why has the RBI withdrawn Rs 2,000 notes?
RBI to join GFIN’s Greenwashing TechSprint to tackle ESG risks
Source: The post is based on the article “RBI to join GFIN’s Greenwashing TechSprint to tackle ESG risks” published in The Hindu on 17th May 2023 Contents1 What is the News?2 What is Greenwashing?3 What is Global Financial Innovation Network(GFIN)?4 What is GFIN Greenwashing TechSprint? What is the News? The Reserve Bank of India has… Continue reading RBI to join GFIN’s Greenwashing TechSprint to tackle ESG risks
International credit card spends outside India will attract 20% TCS: How cardholders may be impacted
Source: The post is based on the article “International credit card spends outside India will attract 20% TCS: How cardholders may be impacted” published in Indian Express on 19th May 2023 What is the News? The Central Government has amended rules under the Foreign Exchange Management Act (FEMA) to bring international credit card spending outside… Continue reading International credit card spends outside India will attract 20% TCS: How cardholders may be impacted
