Context The International Labour Organisation (ILO) recently released two reports that gave an indication of the global employment scenario post-pandemic. The ‘Global Wage Report 2022-2023: The Impact of inflation and COVID-19 on wages and purchasing power’ discuss the twin crises, …
What’s in the news? The Reserve Bank of India has recently launched the digital rupee on a pilot basis. The digital currency will be offered by a select group of public and private banks in a few major cities initially, …
What’s in the news? The World Bank has released its Migration and Development Brief report. Highlights of the Report India is expected to receive a record $100 billion in remittance in 2022, the top recipient this year. India’s remittance will …
About Millets Millets are a group of small seeded grasses used as cereals. The Indian sub-continent has had a rich heritage of growing them and until very recently millets formed a very large part of our food basket. Sadly, the …
What is a windfall tax? A windfall tax is a higher tax rate levied by governments against certain industries when economic conditions allow those industries to experience above-average profits. So when any industry, in this case-oil and gas- benefits from …
What is PMI? Purchasing Managers’ Index is an economic indicator which indicates the business activity & economic health of both the manufacturing and service sectors. PMI of India is published by Japanese firm Nikkei but compiled and constructed by IHS …
What’s in the news? To protect and promote Intellectual Property Rights (IPR) of Startups and to encourage innovation and creativity among them, Government of India had launched a Scheme for facilitating Start-Ups Intellectual Property Protection (SIPP) in 2016. The scheme …
About ICI The monthly Index of Eight Core Industries (ICI) is a production volume index. The objective of the ICI is to provide an advance indication on production performance of industries of ‘core’ nature. These industries are likely to impact …
Context Reserve Bank of India (RBI) has announced the launch of India’s much-awaited Central Bank Digital Currency (CBDC) for retail users. Issues with Cryptocurrencies A cryptocurrency like bitcoin is a cryptography-based peer-to-peer electronic cash system, founded on blockchain and distributed …
About Payments banks Payments banks are the new age banks with limited facilities. These banks mostly operate through the small vendors and shopkeepers. It exists in between the mobile wallet and regular banks. Payments banks are permitted to set up …