RBI State of the Economy Report

The Reserve Bank of India (RBI) in its ‘State of the economy’ report cautioned that the surging commodity prices are causing inflation risks, especially through the surging of imports. The ever-growing widening of current and trade account deficits along with the portfolio capital outflows is putting pressure on external sustainability despite the fact that the ..

Month: Current Affairs - April, 2022

Category: Economy & Banking Current Affairs - 2022

Topics: Indian Economy • Monetary Policy • RBI State of the Economy Report • Reserve Bank of India • retail inflation • State of the Economy Report

World’s First “Crypto-Backed” Payment Card

Crypto lender Nexo has collaborated with Mastercard to launch the world’s first “crypto-backed” payment card. This launch has signaled the move by financial and crypto networks to collaborate as digital assets are becoming more mainstream. Overview: Initially, the card will be available in selected European countries. It will allow users to spend without selling their ..

Month: Current Affairs - April, 2022

Category: Economy & Banking Current Affairs - 2022 • International / World Current Affairs

Topics: Bitcoin • Crypto-Backed Payment Card • digital assets • DiPocket • Mastercard • Nexo

Amendment in FEMA Rules for LIC

The rules of the Foreign Exchange Management Act (FEMA) have been amended by the government to pave way for up to 20 per cent of foreign direct investment (FDI) in the Life Insurance Corporation of India (LIC). The central government also intends to reduce its stake in LIC through an Initial Public Offering (IPO). Overview: ..

Month: Current Affairs - April, 2022

Category: Economy & Banking Current Affairs - 2022

Topics: Department for Promotion of Industry and Internal Trade • FEMA • Foreign Exchange Management Act • Initial public offering (IPO) • LIC • Life Insurance Corporation of India • Securities and Exchange Board of India (SEBI)

WPI based inflation in March

The wholesale price index (WPI) based inflation in India in the month of March rose to 14.55 per cent due to an increase in power prices and rising edible oil prices. Overview: In March 2021, the WPI-based inflation had stood at 7.89 per cent. In March 2022, the high rate of inflation was recorded due ..

Month: Current Affairs - April, 2022

Category: Economy & Banking Current Affairs - 2022

Topics: Fuel and Power sector • Indian Economy • Manufactured Products sector • Wholesale price index • WPI based inflation in March • WPI Food Index

World Bank Report on Extreme Poverty in India

According to a working paper of the World Bank, extreme poverty in India has dropped from 22.5 percent in 2011 to 10.2 percent in the pre-Covid year of 2019. Also, the pace of poverty reduction in rural India has been more than in urban areas of the country. Overview: In the urban and rural areas ..

Month: Current Affairs - April, 2022

Category: Economy & Banking Current Affairs - 2022 • India Nation & States Current Affairs • Reports & Indexes Current Affairs

Topics: COVID-19 • Extreme poverty • Extreme Poverty in India • International Monetary Fund (IMF) • World Bank

Key Facts on Oil Bonds

The government issues oil bonds to compensate the oil marketing companies (OMCs) to offset the losses that are suffered by them with the aim of shielding consumers from rising crude oil prices. These bonds were issued by the government mainly from 2005 to 2010. Reasons for the issuance of oil bonds In lieu of cash, ..

Month: Current Affairs - April, 2022

Category: Economy & Banking Current Affairs - 2022

Topics: crude oil • Diesel • Nirmala Sitharaman • Oil Bonds • Oil Marketing Companies • Petrol