Page-3 of Economy & Banking Current Affairs - 2022

RBI proposes for Cross-border inward payments through BBPS

Recently, the Reserve Bank of India proposed to allow Bharat Bill Payment System (BBPS) to process cross-border inbound bill payments. This will help the Non-resident Indians (NRIs) who face challenges in paying utility bills in India. If proposal is accepted, it will benefit the NRIs. Other significance of the move include; Cross-border inward payments through ..

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Energy Conservation (Amendment) Bill, 2022

Energy Conservation (Amendment) Bill, 2022 was put in the Lok Sabha on August 3, 2022 and was passed on August 8. It seeks to amend the Energy Conservation Act, 2001. It promotes energy efficiency and conservation. Important Provisions of the bill include; The Bill seeks to regulate the energy consumption by equipment, buildings, appliances, and ..

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PARVAZ Market Linkage scheme- Key Facts

Government of Jammu & Kashmir launched the “PARVAZ Market Linkage Scheme” recently. This is an innovative Market Linkage scheme, having tremendous potential to uplift the economic conditions of farmers across Jammu and Kashmir. About PARVAZ Market Linkage Scheme: The PARVAZ scheme was launched with the aim of creating market linkage support for shipment of Agriculture ..

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ITU Regional Standardization Forum in New Delhi

International Telecommunication Union’s Regional Standardization Forum for Asia and Oceania region was inaugurated by Minister of State for Communications Devusinh Chauhan, in New Delhi. This forum started from August 8, 2022. It is being hosted by Ministry of Communications, under the theme- “Regulatory and Policy aspects of Telecommunications”. Highlights of the Forum: According to the ..

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NITI Aayog Governing Council Meeting- Highlights

On August 7, 2022 7th Governing Council meeting was held at Rashtrapati Bhawan Cultural Centre in New Delhi. It was chaired by Prime Minister Narendra Modi. It was the first in-person meeting of the council since July 2019. Agenda of the NITI Aayog meeting were; To achieve self-sufficiency in pulses, oilseeds & other agri-communities. Issues ..

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RBI Monetary policy committee (MPC) Meeting- Highlights

The Monetary Policy Committee (MPC) held meeting on August 5, 2022. On the basis of assessment of current and evolving macroeconomic situation, MPC has decided to: Hike policy repo rate by 50 basis points, under liquidity adjustment facility (LAF). Repo rate now stands at 5.40%. Adjust Standing deposit facility (SDF) rate to 5.15%, marginal standing ..

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