Regulation of Sugar Exports

The central government has imposed restrictions on sugar exports from June 1st, 2022 to increase the availability of sugar in the country during sugar season 2021-22 (October-September) and also curb price rise. Usually, during the festival season of October – ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

ONGC: 1st to trade Domestic gas on Indian Gas Exchange

State-owned Oil and Natural Gas Corporation Ltd. (ONGC) became India’s first Exploration and Production (E&P) company to trade domestic gas on Indian Gas Exchange (IGX). What are the highlights of the trade? ONGC made its first online trade on 23rd ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

DCO-WEF Initiative for Digital FDI Flows

The World Economic Forum (WEF) and the Digital Cooperation Organization (DCO) announced a new initiative on 24th May 2022 to enhance flows of digital foreign direct investments (FDI) on a global scale. This initiative’s launch was announced by Secretary-General of ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

Additional fertilizer subsidy of Rs 1.10 lakh crore

Union Finance Minister recently announced that the government will provide an additional fertilizer subsidy of Rs 1.10 lakh crore to protect farmers from the rise in fertilizer prices. What will be the total fertilizer subsidy? With the recent announcement, the ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

Cut in Excise Duty on Petrol

The union finance minister recently announced the excise cut on petrol and diesel to contain inflation. She also announced a ₹200 subsidy for those buying LPG cylinders under the PM Ujjwala Yojana scheme. How much excise duty is reduced and ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

RBI: Panel on Customer Service Standards in Banks, NBFCs

On the 23rd of May 2022, the Reserve Bank of India (RBI) announced that a committee has been set up to evaluate the adequacy, effectiveness, and quality of customer service in NBFCs, banks, and other entities that are regulated by ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

India’s FDI Inflow in Fiscal year 2021-22

The Ministry of Commerce and Industry said that India’s Foreign Direct Investment [FDI] inflow in the Financial Year 2021-22 reached an all-time high of USD 83.57 billion, despite the Russia-Ukraine war and Covid-19 pandemic. This shows that India’s image is ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

RBI surplus transfer to government – Update (May, 2022)

The Reserve Bank of India (RBI) board recently approved the transfer of ₹30,307 crores to the central government for the financial year 2021-22. This is the lowest dividend in ten years. The huge investments of RBI in reverse repo operations ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

RBI: Cardless cash withdrawal facilities at all ATMs

The Reserve Bank of India (RBI) has directed all banks, ATM networks, and White Label ATM Operators (WLAOs) to provide their customers with the option of Interoperable Card-less Cash Withdrawal (ICCW) across all ATMs in the country. How does this ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs

NEFT, RTGS facility for Post Office Savings Account

The Department of Post has recently rolled out the NEFT and RTGS facility for Post Office Savings Bank Account (POSB) holders. The NEFT facility has been made available from May 18th, 2022, whereas the RTGS facility will be available from ..

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs