Digital Banking Brings Banks To The Poor
Context Prime Minister Modi used video conferencing to dedicate 75 Digital Banking Units (DBU) across 75 districts to the nation. Relevance GS Paper – 3 : Mobilization of Resources, Growth & Development, Banking Sector & NBFCs, Inclusive Growth Mains Question The Pradhan Mantri Jan Dhan Yojana (PMJDY) is required to bring the unbanked into the fold […]
NHAI’s Infra Investment Bonds
Context: Road Transport and Highways Minister tweeted a video about the National Highways Infra Trust (NHAI InvIT) bonds, which he said will offer an effective return of 8.05% per annum. Relevance: GS III: Indian Economy Dimensions of the Article: What is NHAI’s InvIT? What are InvITs? What is NHAI’s InvIT? NHAI InvIT is the infrastructure […]
Global Multidimensional Poverty Index
Context: About 41.5 crore people exited poverty in India during the 15-year period between 2005-06 and 2019-21, out of which two-third exited in the first 10 years, and one-third in the next five years, according to the global Multidimensional Poverty Index (MPI). Relevance: GS III: Indian Economy (Growth and Development) Dimensions of the article: What […]
Digital Banking Units
Focus: GS III: Indian Economy Why in News? Recently, the Prime Minister of India has dedicated 75 Digital Banking Units (DBU) across 75 districts to the nation. About Digital Banking Units A digital banking unit is a specialized fixed point business unit or hub, housing a certain minimum digital infrastructure for delivering digital banking products […]
Decline in Forex Reserves
Context According to the Reserve Bank of India (RBI), India’s forex reserves have fallen by USD 110 billion in the last 13 months. Relevance: GS III: Indian Economy Dimensions of the Article: What are forex reserves? What does the RBI do with the forex reserves? Current Scenario Causes of Declining Forex Reserves What are forex […]
Pilot launch of E-Rupee
Context: The Reserve Bank of India (RBI) has indicated that it will soon commence limited pilot launches of e-rupee (e`), or Central Bank Digital Currency (CBDC) or digital rupee, for specific use cases. Relevance: GS III: Indian Economy Dimensions of the Article: What’s RBI’s plan? What is E-rupee? What are the forms of CBDC? What’s […]
Credit Guarantee Scheme for Startups
Focus: GS III: Indian Economy Why in News? Recently, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the credit guarantee scheme for start-ups. About Credit Guarantee Scheme for Startups (CGSS) The program’s goal is to provide credit guarantees for loans made by Member Institutions (MIs) to qualified borrowers […]
Direct Tax Collections
ontext: Recently Union Finance Ministry said, India’s net direct tax collections in the financial year 2022-23 have risen to ₹7.45 lakh crore, more than half of the Budget targets. It is an increase of 16.3% over the tax inflows during the corresponding period a year ago. Relevance: GS III- Indian Economy Dimensions of the Article: […]
Strategic Disinvestment of IDBI Bank
Context: The government kicked off the process for the strategic disinvestment of IDBI Bank along with the transfer of management control, by issuing a preliminary information memorandum to invite expressions of interest from prospective buyers. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal Policy, Inclusive growth and issues therein, Budgeting) Dimensions of […]
70 Million Plunged Into Poverty in 2020
Context: According to a new World Bank report, titled “Poverty and Shared Prosperity 2022: Correcting Course”, the Covid pandemic has been the biggest setback to global poverty alleviation in decades. Relevance: GS III: Indian Economy Dimensions of the Article: Highlights of the report What about India’s poverty levels? What are the suggested solutions? Highlights of […]