vdAdmin November 7, 2023
National Mineral Development Corporation (NMDC): Diversifying into Gold Mining in Western Australia
Introduction The National Mineral Development Corporation (NMDC) Ltd., a prominent player in India’s mineral industry, is set to embark on a new venture in gold mining. This expansion comes through its subsidiary, Legacy Iron Ore Ltd., situated in Western Australia. This move marks a significant diversification in NMDC’s mineral portfolio. About the National Mineral Development […]
vdAdmin November 4, 2023
Understanding Payment Aggregator and Cross Border Transactions
Introduction In the realm of online commerce, Payment Aggregators (PAs) and Cross Border transactions (CB) play pivotal roles in facilitating seamless payment processes. This article provides insights into their functions, regulations, and distinctions. Payment Aggregator (PA): Streamlining Payment Processes Definition and Function A Payment Aggregator, also known as a merchant aggregator, is a third-party service […]
vdAdmin November 1, 2023
FSSAI Introduces QR Codes on Food Products for Enhanced Safety and Accessibility
Introduction: The Food Safety and Standards Authority of India (FSSAI) has taken a significant stride towards ensuring food safety and accessibility, particularly for visually impaired individuals, by recommending the incorporation of QR codes on food products. This move holds great significance in a country with one of the world’s largest markets for packaged foods and […]
vdAdmin November 1, 2023
Rethinking Economic Development: India’s Departure from the Lewis Model
Introduction: In 1954, esteemed Saint Lucian economist William Arthur Lewis postulated a transformative economic model, emphasizing the potential for underdeveloped nations with abundant low-wage labor. His theory suggested that by transitioning surplus labor from agriculture to a burgeoning manufacturing sector, countries could unlock unparalleled industrialization. This model gained widespread recognition, with India being a prominent […]
vdAdmin October 31, 2023
Introduction: Arun Maira, a prominent voice in economic discourse, sheds light on the pervasive gender disparity in economic narratives. This article underscores the undervaluation of women’s contributions, the shifting global employment landscape, and the imperative for a more inclusive and care-centric approach to economic development. Maira’s insights resonate strongly within the context of India and […]
vdAdmin October 31, 2023
Recent Approval of Nutrient-Based Subsidy Rates for Rabi and Kharif Seasons (2022-23): A Balanced Approach for Agricultural Prosperity
Introduction The Union Cabinet’s recent nod to the Nutrient-Based Subsidy (NBS) rates for Rabi and Kharif seasons in 2022-23 marks a pivotal moment in India’s agricultural policy. This article delves into the NBS regime, outlining its objectives and challenges, while underscoring the necessity of a balanced approach to tackle economic, environmental, and distribution concerns. Understanding […]
vdAdmin October 30, 2023
RBI’s New Directives for Credit Information Access: Empowering Consumers
Introduction When applying for a loan, your credit score plays a pivotal role, determined by your debt and repayment history. Recently, the Reserve Bank of India (RBI) has taken significant steps towards enhancing transparency in accessing Credit Information Reports (CIRs). RBI’s Directive on CIR Access Notification to Customers CICs are now obligated to inform customers […]
vdAdmin October 30, 2023
Addressing Deceptive Practices in the Indian Aviation Industry: A Call for Transparency
Introduction: The Indian Ministry of Civil Aviation has intervened in response to a surge in complaints regarding deceptive practices employed by airlines and online travel agents. These manipulative techniques, collectively termed as “dark patterns,” coerce consumers into making unintended purchases. Consumer Affairs Secretary, Rohit Kumar Singh, has characterized these tactics as unfair trading practices bordering […]
vdAdmin October 30, 2023
RBI Directs CICs to Notify Customers About Credit Information Access
Introduction The Reserve Bank of India (RBI) has issued a directive to Credit Information Companies (CICs) regarding the notification of customers when their Credit Information Report (CIR) is accessed by banks and non-banking finance companies (NBFCs). Additionally, banks and NBFCs are mandated to inform customers via SMS or email when they submit information to CICs […]
vdAdmin October 26, 2023
RBI’s Forex Swap: A Strategic Tool for Liquidity Management and Inflation Control
Introduction The Reserve Bank of India (RBI) is set to conclude a $5 billion forex swap with banks, marking a strategic move aimed at effectively managing liquidity and mitigating inflationary pressures. This innovative financial instrument, known as the Dollar–Rupee Swap, allows the RBI to exchange its currency with banks, providing a crucial tool for stabilizing […]
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