Page-104 of Economy & Banking Current Affairs

What are New LEI Guidelines by RBI?

April 23, 2022

The guidelines on Legal Entity Identifier (LEI) for large borrowers of Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs) have been extended by the Reserve Bank of India (RBI). Overview: The RBI has further advised that any non-individual ..

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India’s Oil production in FY22

April 22, 2022

The crude oil production of India fell 2.67 percent in the fiscal year that ended on 31st March 2022. The production of ONGC was less than the target, but KG production by Reliance-BP’s natural gas output rose. Overview: In 2021-22 ..

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Launch of UPI in UAE

April 22, 2022

The international arm of the National Payment Corporation of India, NPCI International Payments Ltd (NIPL) has announced that across the UAE, BHIM UPI is live on NEOPAY terminals. Overview: This initiative will be empowering the millions of Indians who travel ..

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National Conference on Agriculture- Kharif Campaign – 2022

April 20, 2022

The National Conference on Agriculture for Kharif Campaign 2022-23 has been inaugurated by Union Agriculture Minister, Narendra Singh Tomar at the NASC Complex, New Delhi. As per the 2nd Advance Estimates (2021-22), the country’s total production of foodgrains is estimated ..

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World Bank’s Global Growth Forecast

April 20, 2022

The World Bank has reduced the global growth forecast for 2022 from 4.1 percent to 3.2 percent. The growth forecast has been reduced due to the impacts of the Russian invasion of Ukraine. Overview: The World Bank has proposed a ..

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RBI State of the Economy Report

April 20, 2022

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 ..

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World’s First “Crypto-Backed” Payment Card

April 20, 2022

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 ..

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Amendment in FEMA Rules for LIC

April 19, 2022

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 ..

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WPI based inflation in March

April 18, 2022

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 ..

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World Bank Report on Extreme Poverty in India

April 18, 2022

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 ..

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