RBI Becomes Net Seller of USD in FY23
Context: In the fiscal year 2022-23, the Reserve Bank of India (RBI) experienced a notable change in its foreign exchange dealings. After acting as a net purchaser of the US dollar for three consecutive years, the RBI transitioned into a net seller, with a sale of 25.52 billion USD in the spot market. Relevance: GS […]
RBI to Withdraw Rs 2,000 Notes from Circulation
Context: Recently, the Reserve Bank of India (RBI) announced that it will withdraw the Rs 2000 denomination banknotes from circulation. Relevance: GS III: Indian Economy Dimensions of the Article: Details: RBI’s Clean Note Policy: Objective: Definition of ‘Soiled Note’: Withdrawal of Pre-2005 Banknotes: Alignment with International Practices: Reasons for RBI’s Withdrawal of 2000 Rupees Notes: […]
About The Greenwashing TechSprint
Context: The Reserve Bank of India (RBI) will be among 13 international regulators taking part in the Global Financial Innovation Network’s (GFIN) first-ever Greenwashing TechSprint. Relevance: GS III: Indian Economy Dimensions of the Article: Greenwashing TechSprint: Organizers: Objective: Duration: Purpose: What Is Greenwashing? Examples of Greenwashing Effects of greenwashing About Global Financial Innovation Network (GFIN) […]
RBI Regulations On Green Deposits
Context: Reserve Bank of India (RBI) came up with a regulatory framework for banks to accept green deposits from customers. Under the new framework, banks that accept green deposits will have to disclose more information on how they invest these deposits. Relevance: GS III: Indian Economy Dimensions of the Article: What are green deposits? Regulatory […]
Decarbonizing the Steel Industry Will Pay Rewards
Context Relevance: GS Paper-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment Mains Question Explain the various actions that can be taken to facilitate the decarbonization of the steel industry in India. (150 Words) Decarbonization. Importance: Challenges Several steps can be taken to facilitate the decarbonization of the Indian steel […]
C-PACE (Centre for Processing Accelerated Corporate Exit)
Context: The Ministry of Corporate Affairs (MCA) recently established C-PACE, or Centre for Processing Accelerated Corporate Exit, to bring efficiency into the strike off process of companies. Relevance: GS III: Indian Economy Dimensions of the Article: About C-PACE (Centre for Processing Accelerated Corporate Exit): Objectives and Benefits: New Rules and Impact: -Source: Economic Times
About The LIBOR
Context: Recently, the RBI stated that some banks and financial institutions were yet to facilitate an absolute transition away from the London Interbank Offered Rate (LIBOR) benchmark. Relevance: GS III: Indian Economy Dimensions of the Article: About LIBOR Applications and Significance: Impact on consumer lending: Indicator of financial system health: Controversies Surrounding LIBOR: Integrity and […]
Unique Economic Offender Code
Context: The government plans to introduce a new mechanism whereby companies and individuals accused of economic offences will be assigned a unique code called the ‘Unique Economic Offender Code’. Relevance: GS III: Indian Economy Dimensions of the Article: Unique Economic Offender Code: An Overview Alpha-Numeric and System-Generated Code: Issuance of the Code: Linking the Code: […]
Automated Return Scrutiny Module E-Invoice
Context: The Government has recently reduced the limit for businesses to generate e-Invoice for Business-to-Business (B2B) transactions from Rs 10 crore to Rs 5 crore. Additionally, the government has rolled out the Automated Return Scrutiny Module (ARSM). Relevance: GS III: Indian Economy Dimensions of the Article: Automated Return Scrutiny Module (ARSM) Key Features: Current Implementation: […]
Gaps in the AePS Transaction Model
Context: A popular YouTuber, in a Twitter thread, shared how his mother’s bank account was drained using an Aadhaar-linked fingerprint without needing a two-factor authentication. Relevance: GS III: Indian Economy Dimensions of the Article: What is AePS? Is AePs enabled by default? How is biometric information leaked? How to secure your Aadhaar biometric information: -Source: […]