Current Affair Category: Indian Economy

Why in News:Gearing up to remain “future-ready for India’s fast-growing economy”, the Reserve Bank of India (RBI) has listed a series of aspirational goals, including capital account liberalisation and internationalisation of the Indian rupee (INR), universalising of digital payment system and globalisation of India’s financial sector in a multi-year timeframe. Liberalizing Capital Account in the […]

Why in News?Bollywood megastar Shah Rukh Khan’s non-governmental organisation (NGO), Meer Foundation, has been granted Foreign Contribution Registration Act (FCRA) licence by the Ministry of Home Affairs (MHA) for five years. The Foreign Contribution (Regulation) Act, or FCRA, is a law enacted by the Indian government in 2010. It regulates how NGOs, individuals, and companies in India can receive foreign donations […]

Why in News? In a first since early 1991, over 100 tonnes (1 lakh kilograms) of gold have been moved by the Reserve Bank of India (RBI) from the UK to its vaults in India. As per the report , a similar quantity of gold may head into the country in coming days. How RBI’s […]

South Korean government has ordered the companies that if they are doing Shrinkflation then they have to mention it clearly on product label for 3 months. Otherwise, Government will impose penalty. Shrinkflation is a sneaky way for manufacturers to raise prices without explicitly increasing the price tag. The Scam: Manufacturers reduce the quantity of a […]

Why in News ? The RBI  has launched three major initiatives, including a mobile app, to enable retail investors to participate in the government securities (G-Secs) market. These  3 initiatives are PRAVAAH portal , Fintech  & EmTech Repositories. About  PRAVAAH portal : The Reserve Bank of India (RBI) launched the PRAVAAH portal in April 2023. […]

Why in News ? The  Finance Minister Nirmala Sitharaman ahs recently  said that the government has so far achieved savings of more than 25,500 crore through the treasury savings account (TSA) and the single nodal agency (SNA) bank accounts.  What is Treasury Savings Account (TSA)? A Treasury Savings Account (TSA) is a bank account used […]

According to the data available on the National Cybercrime Reporting Portal, between January and April 2024, over 740,000 complaints were lodged related to cybercriminal activities leading to monetary losses worth over Rs 1,750 crore. The Indian Cyber Crime Coordination Centre (I4C) stated that in May 2024, an average of 7,000 cybercrime complaints were recorded daily. […]

India’s top 1 per cent income and wealth shares have reached historical highs and are among the very highest in the world. What report suggests? It suggests raising phenomenally large tax revenues while leaving 99.96 per cent of the adults unaffected by the tax. Outlining a baseline scenario, the report said, a 2 per cent […]

Why in News ? According to the United Nations Convention on Combating Desertification (UNCCD) , about half of the world’s rangelands are degraded and need policy interventions, and communities depending on them need focused support. Key points of the report: Nearly 50% of the world’s rangelands can be considered “degraded” and are facing a “silent […]

Despite of facing various economic/trade restrictions due to war against Ukraine  , the Russian economy is doing fairly well. Factors Contributing to Russia’s Resilience: High Energy Prices: Global oil and gas prices surged after the war began, boosting Russia’s export revenue despite some discounts on its oil. Pivot to New Markets: Russia has redirected energy […]