Why in the News? The government, which plans a law to ban private digital currencies, favours a digital currency backed by the Reserve Bank of India. Uncertainty over the legal status of cryptocurrencies is unnerving Indian investors who, according to …
What is an ARC? An Asset Reconstruction Company is a specialized financial institution that buys the non-performing assets (NPA) or bad assets from banks and financial institutions so that the latter can clean up their balance sheets. Or in other …
What’s in the news? The Reserve Bank of India has announced the setting up of a regulatory review authority, RRA 2.0, to review its regulations internally and in consultation with other stakeholders. Deputy governor M Rajeshwar Rao has been appointed …
About Payment banks Payment 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. A payment bank provides following services to …
About the scheme In April last year, the central government had for the first time notified the Production Linked Incentive (PLI) scheme for mobile phones and allied component manufacturing. As a part of the scheme, companies which set up new …
About the scheme In April last year, the central government had for the first time notified the Production Linked Incentive (PLI) scheme for mobile phones and allied component manufacturing. As a part of the scheme, companies which set up new …
What are SDLs? State Development Loans (SDLs) are market borrowings by state governments. The RBI issues these securities on their behalf, through auctions. Purpose of issuing State Development Loans is to meet the budgetary needs of state governments. Each state …
CONTEXT In the recent Budget session, the Union government announced its intent to privatise Public Sector Banks (PSBs), citing improving efficiency as the reason for this move. But there is no clarity, whether privatisation brings efficiency or reduces associated risks. …
What’s in the news? Micro, Small and Medium Enterprises Ministry has informed that more than one crore two lakh MSMEs were registered in the country within five years. Significance of MSMEs In developing countries like India, where the majority of …
Background In May 2020, as a part of the announcements made under the Atmanirbhar Bharat Abhiyan, the Central government announced that it would allow commercial mining in the coal sector. What is commercial mining? Commercial mining allows the private sector …