Current Affair Category: Indian Economy

GST (Goods and Services Tax) frauds are a significant issue in India, as they lead to revenue losses and disrupt the effective functioning of the tax system.  Nature and Types of GST Frauds: GST frauds primarily stem from exploitation of the tax system, taking advantage of loopholes or weaknesses in implementation. Common types include: Fake […]

Dumping stocks refers to the sudden sale of a large volume of stocks, typically by institutional investors, mutual funds, or large shareholders. This is often done when investors lose confidence in a stock or when they anticipate a decline in its value. Dumping stocks can significantly impact the stock market and individual investors in various […]

The Reserve Bank of India (RBI) confirmed a new wave of gold shipments, relocating 102 tonnes of gold from the Bank of England’s vaults to secure facilities within India. India’s gold reserves currently total 854.73 metric tonnes, according to a recent Reserve Bank of India (RBI) report. India ranks 8th for gold reserves. The top-ranking […]

What are Mule accounts and rented accounts ? Mule Accounts: A mule account is used by criminals to move illicit funds from one place to another to conceal the origins and destination. Often, the account holder (or “mule”) may or may not be aware of the illegal nature of the transactions they’re helping to facilitate. […]

Fast-Moving Consumer Goods (FMCG) are products that are sold quickly at relatively low cost and have high turnover due to frequent consumer demand. These products are essential in daily life, so they tend to be used up quickly and purchased regularly, such as packaged foods, personal care items, and household supplies. Key Characteristics of FMCG: […]

Pent-up demand refers to a situation where consumers are eager to purchase goods or services but are unable to do so due to various factors, such as economic downturns, supply chain issues, or external restrictions (like lockdowns). This demand builds up over time, leading to a surge in purchases once the barriers to buying are […]

What is business email compromise (BEC)? Business email compromise (BEC) is a type of social engineering attack that takes place over email. In a BEC attack, an attacker falsifies an email message to trick the victim into performing some action — most often, transferring money to an account or location the attacker controls. BEC attacks differ from other […]

21st livestock census-2024:  The Ministry of Fisheries, Animal Husbandry and Dairying, has launched the 21st Livestock Census in New Delhi. What is the livestock census all about? Conducted every five years, the census carries out a headcount of the number of domesticated animals, poultry, and stray animals in the country. The census takes into account […]

The Global Sovereign Debt Roundtable (GSDR) is an initiative led by the International Monetary Fund (IMF), World Bank, and the G20 to address global debt issues affecting low- and middle-income countries. Launched in early 2023, the GSDR aims to streamline and improve the process of restructuring sovereign debt for countries in financial distress, especially as […]

The Currency Composition of Official Foreign Exchange Reserves (COFER) is a statistical database maintained by the International Monetary Fund (IMF) that tracks the currency composition of countries’ foreign exchange reserves. These reserves are assets held by central banks and monetary authorities in different currencies, used to support the national currency and meet international payment obligations. […]