UPI’s Impact on Shaping India’s Foreign Policy
Context: India’s United Payments Interface (UPI) has achieved a milestone by surpassing 10 billion transactions, showcasing its robust growth with a year-on-year increase of over 50%. This not only reflects domestic success but also underscores its significance in foreign policy, highlighting India’s digital strength. UPI had initially crossed the 1 billion monthly transaction mark in […]
UPI QR Code-Central Bank Digital Currency Interoperability
Context: Banks are enabling the interoperability of Unified Payments Interface’s (UPI) Quick Response (QR) code with their central bank digital currency (CBDC) or e₹ application. Relevance: GS III: Indian Economy Dimensions of the Article: UPI QR Code-CBDC Interoperability: Simplifying Digital Transactions Interoperability How e₹ Works: Benefits for Customers and Merchants: Understanding QR Codes: The Role […]
What are Urban Cooperative Banks?
Context: Recently, the Governor of the Reserve Bank of India (RBI) addressed concerns regarding Urban Cooperative Banks (UCBs) and emphasized the need to bolster their governance. Relevance: GS-III: Indian Economy (Banking) Dimensions of the Article: What are Cooperative Banks? Important Details with respect to Cooperative Banks Structure of co-operative banks in India Overview of Urban […]
About The Urban Infrastructure Development Fund (UIDF)
Context: Officials from the Union Housing and Urban Affairs Ministry recently said the first tranche of loans to fund ongoing projects in tier-2 and tier-3 cities – under the Urban Infrastructure Development Fund (UIDF) will likely be disbursed soon. Relevance: GS III: Indian Economy Dimensions of the Article: Urban Infrastructure Development Fund (UIDF) Classification of […]
About Koraput Kalajeera Rice
Context: Recently, Koraput Kalajeera Rice,’ an aromatic rice, has got Geographical Indications status. Relevance: GS III: Indian Economy Dimensions of the Article: About Koraput Kalajeera Rice Geographical Indications (GI) Tag Definition and Importance: Administration and Registration: Significance and Examples: Ownership and Proprietorship: Location of the Geographical Indications Registry:
Production Linked Incentive (PLI) Scheme for IT Hardware
Context: As part of its renewed PLI scheme for IT hardware, the Centre has received applications from 38 entities (Asus, Dell, HP, Foxconn, etc., excluding Apple), that want to manufacture laptops, personal computers and servers in India. The development comes weeks after the Centre imposed and then postponed a licensing requirement on the import of […]
About The Start Ups 2.0
Context Relevance: GS3- Indian economy Mains Question: Analyze the Indian startup landscape post covid19 pandemic. What can be done to strengthen the startup ecosystem in India? (15 marks, 250 words). Analyzing the Struggles of Indian Start-ups: Signs of Growth: Conclusion: The growing interest of FPIs in select start-ups suggests that companies demonstrating sound financial metrics […]
Core Sectors Expand by 8% in July
Context: In a noteworthy development, all eight of India’s key infrastructure industries demonstrated year-on-year growth in July, marking the first occurrence of such growth in 14 months. Relevance: GS3-Indian Economy Dimensions of the article: Trends in core sectors: The core sectors collectively exhibited an average output increase of 8%, following a robust surge of 8.3% in […]
UPI Achieves Milestone of 10 Billion Transactions in August
Context: Unified Payments Interface (UPI), an instant payment system, has achieved a significant milestone by surpassing 10 billion transactions in the month of August, according to the National Payments Corporation of India (NPCI). In July, UPI recorded 9.96 billion transactions with a total value of Rs 15.34 lakh crore, based on data from NPCI. Relevance: […]
Economy Grows 7.8%, Fastest in 4 Quarters
Context: The growth of India’s Gross Domestic Product (GDP) and the Gross Value Added (GVA) within the economy accelerated to a four-quarter peak of 7.8% during the initial quarter of this fiscal year. Relevance: GS3-Economy Dimensions of the article: Growth across various sectors Gross Domestic Product (GDP) Gross Domestic Product (GDP) quantifies the monetary valuation […]