Current Affair Category: Indian Economy

Interest rate cut at this stage will be ‘very premature, very risky’: RBI Governor Das Earlier this month, the RBI’s newly reconstituted Monetary Policy Committee (MPC) left the repo rate – the key policy rate – steady at 6.5 per cent for 20 consecutive months as inflation continues to remain a sore point. At a […]

Weighted Average Lending Rate (WALR):   The Reserve Bank of India (RBI) has barred Asirvad Micro Finance Ltd, Arohan Financial Services Ltd, DMI Finance and Navi Finserv from sanctioning and disbursing loans for violation of multiple rules, including excessive pricing of loans. The ban on these non-bank finance companies (NBFCs) will come into effect from […]

The Nobel laureates in the economic sciences have demonstrated the importance of societal institutions for a country’s prosperity. Societies with a poor rule of law and exploitative institutions do not generate growth or change for the better. Where does India fit into this understanding? The Royal Swedish Academy of Sciences on Monday awarded the Sveriges […]

Banks are likely to deliver a softer growth in the quarter ended September 2024, led by slower credit growth and moderation in net interest margins (NIM). Net interest margin are expected to decline by 2-10 basis points sequentially given pressure on cost of funds resulting from repricing of deposits. “Banks are expected to deliver yet […]

Why in News ?  The Bureau of Indian Standards (BIS) has begun the process of formulating a National Agriculture Code (NAC), on the lines of the existing National Building Code and National Electrical Code. What is the National Agriculture Code? The BIS is the national body which sets standards for different products across various economic […]

A G20 expert panel on strengthening Multilateral Development Banks (MDBs), such as the World Bank and the Asian Development Bank, wants the institutions to shift from financing individual projects to prioritising programmes with sectoral focus and long-term transformation plans, as identified by national governments. According to the expert group, MDBs should focus their operations – financial […]

Speaking at the Kautilya Economic Conclave here, the External Affairs Minister stated that the conflicts in Ukraine and West Asia have shifted the focus of global politics away from crucial issues Amid rising protectionist measures in India and the West against the rapid surge of Chinese imports in crucial sectors, External Affairs Minister S. Jaishankar […]

Why in News? Union Cabinet approves Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) to promote sustainable agriculture and Krishonnati Yojana (KY) to achieve food security for self-reliance States given the flexibility to reallocate funds from one component to another based on their specific requirement About  the Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY): PM-RKVY will […]

Why in News?The Rapid Financing Instrument (RFI) is a financial tool provided by the International Monetary Fund (IMF) that offers quick financial assistance to member countries facing urgent balance of payments needs. It is designed to provide swift financial relief in cases of economic crises caused by external shocks, such as natural disasters, commodity price […]

The central government has reconstituted the Monetary Policy Committee (MPC) under the provisions of the Reserve Bank of India (RBI) Act, 1934, the Ministry of Finance said in a statement. The government issued a notification on 1 October with the newly included names of the members of the MPC. The six-member MPC is responsible for […]