Why in News? The first destroyer of the Indian Navy, INS Rajput is set to be decommissioned. About INS Rajput INS Rajput, the lead ship of the Kashin-class destroyers built by the erstwhile USSR, was commissioned in 1980. The ship …
What is it? Foreign Exchange Reserve indicates the reserves held by RBI in the form foreign currency assets, gold, SDR and reserve tranche. Components of foreign exchange reserve: Foreign Currency Assets– Currencies of foreign countries are held in foreign exchange …
National Electronic Fund Transfer (NEFT) NEFT is a nation-wide centralised payment system owned and operated by the Reserve Bank of India. It facilitates funds transfers from one bank account to another. One can access this service either by using Internet …
About TRIPS The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO). The Agreement, which came into effect on 1 January 1995, is a …
The UPSC Civil services exam, more commonly known as the IAS exam, consists of three stages, viz; Prelims, Mains, and the Interview. Assuming that the reader is a complete beginner in the preparation, I will explain how you must proceed …
NEWS The universalisation of social security remains an unfulfilled aspiration in the new code on social security. CONTEXT COVID-19 has destroyed lives and livelihoods, particularly, the low-paid, informal workers, who constitute 91% of the workforce. Further unpreparedness of the government …
Background According to Section 47 of the RBI Act, profit of the RBI has to be transferred to the government periodically. However, before transferring, some amount of the profit is kept aside for maintaining reserves of the RBI. What constitutes …
NEWS The Maratha reservation case shows that divesting States of the power to determine backwardness hits federalism. CONTEXT Recently the Supreme Court of India declared as unconstitutional a Maharashtra law which provided for reservation to the Maratha community in …
CONTEXT COVID-19 has tested the resilience of all public institutions. Despite its efforts, bureaucracy has emerged as a major concern for the ineffective response to the COVID-19 crisis. This inadequacy is the reflection of the outdated nature of public bureaucracy. …