Currency Current Affairs, GK & News

What is Currency Chest?

Currency Chests are places where RBI (Reserve Bank of India) stocks money meant for banks and ATMs. The Currency Chests are located in different banks and are administered by the Reserve Bank of India. Why is Current Chest in news recently? A private security guard has looted Rs 4.04 crores from the currency chest of ..

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Impact of EU-UK Brexit Deal in India

India is to emerge as the net-gainer from the Brexit deal recently signed between the European Union and United Kingdom. Impact on India The gains for India from the EU-UK Brexit deal are mainly in the service sector. This is because, the UK currencies are becoming cheaper. Therefore, it will be less expensive for the ..

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Currency Manipulator

The United States has again included India in its monitoring list of countries. These countries are with potential of “Currency Manipulation” and “Questionable Foreign Exchange Policies”. What is Currency Manipulator? The US Government names a country as currency manipulator if it believes that the country is engaging in unfair trade practices. According to the US, ..

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MECL begins gold mining in Kolar after 16 years

The Mineral Exploration Corporation Limited recently began the Kolar Gold Field exploration after 16 years. Background The Kolar Gold mines are located nearly 100 km from Bengaluru. They were closed in 2001 due to the fall in gold prices. The pyroclastic and pillow lava at the mines were declared as a National Geological Monument by ..

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RBI releases International Investment Position

On June 30, 2020, Reserve Bank of India released its data on International Investment Position, IIP. Highlights According to the data, the direct investment in the country rose by 19 billion USD and the portfolio investment declined by 13.7 billion USD. Also, the international financial assets of Indian residents have increased by 73.9 billion USD. ..

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