It is a “Not for Profit” umbrella organization for operating retail payments and settlement systems in India, is an initiative of RBI and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. It aims in bringing innovations in the… Continue reading National Payments Corporation of India (NPCI)
Category: Subjects
Digital payment system in India
What is the role of RBI in the evolution of digital payment in India? RTGS- This system enables the transfer of money from one bank account to another on a “real-time” and on “gross” basis. Settlement happens in real-time. The large value payments on stock trading, government bond trading and other customer payments were covered… Continue reading Digital payment system in India
social cost of carbon (SCC)
The social cost of carbon (SCC), tries to add up all the monetary value of quantifiable benefits and costs of emitting one additional tonne of CO2. This value can then be used to weigh the benefits of reduced warming against the costs of cutting emissions. According to OECD, The Social Cost of Carbon is usually… Continue reading social cost of carbon (SCC)
Can a state challenge/reject central laws? On issue of farm bills and CAA
Recently Punjab has denied implementing the Central Farm Laws in the state and has moved amendments to the legislations. Previously, on the Issue of CAA (Citizenship Amendment Act), several state governments like Kerala denied the implementation of the same in their states. Thus, the question arises, are states empowered to reject the central laws in… Continue reading Can a state challenge/reject central laws? On issue of farm bills and CAA
Farm bills 2020: Can Punjab challenge a central law?
Good evening dear reader. Here is our 7pm editorial Summary for today Farm bills and Punjab’s bills against them Punjab bills About farm bills and associated concerns Farmers’ Produce Trade and Commerce (Promotion and Facilitation), bill 2020 Issues with Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020: Farmers (Empowerment and Protection) Agreement on… Continue reading Farm bills 2020: Can Punjab challenge a central law?
Regional implications of Bangladesh’s Economic Success
Source: Indian Express Context: ground: The International Monetary Fund’s latest World Economic Outlook has predicted that Bangladesh’s per capita GDP will overtake that of India this year. International development institutions have asked the rest of the subcontinent and developing countries around the world to learn much from Dhaka’s experience or the Bangladesh model. What are the… Continue reading Regional implications of Bangladesh’s Economic Success
Centre gives in, says will borrow to make up for states’ GST shortfall
News: The Central government has decided to borrow up to Rs 1.1 lakh crore on behalf of the states to meet the shortfall of Goods and Services Tax(GST) compensation. Facts: Borrowing Mechanism: Under the Special Window, the estimated shortfall of Rs 1.1 lakh crore will be borrowed by Centre in appropriate tranches.The amount so borrowed… Continue reading Centre gives in, says will borrow to make up for states’ GST shortfall
Constitutional government
A constitutional government is the one that is defined by the constitution of the country. A constitution can merely be a set of fixed norms or principles or a legal instrument accepted in the country as a framework for the polity of the country. Constitution of a country is supreme law of the land, it is… Continue reading Constitutional government
Macro-economic Framework Statement
The Fiscal Responsibility and Budget Management Act, 2003 mandates that Central Government shall lay in each financial year before both Houses of Parliament the following statements of the fiscal policy along with the annual financial statement and demands for grants except the Medium-term Expenditure Framework Statement, namely:— (a) the Medium-term Fiscal Policy Statement; (b) the Fiscal… Continue reading Macro-economic Framework Statement
Commercialization of coal mining
Source- Live Mint Syllabus- GS 3- Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth. Context– Centre was all set to allow commercial and even foreign players to mine coal from 19th October, with the aim of making India among the biggest exporters of the dry fuel, but… Continue reading Commercialization of coal mining
