About GeM Launched in 2016, the Government e-Marketplace (GeM) is a 100 percent government-owned company setup under the aegis of the Ministry of Commerce and Industry. It is a completely paperless, cashless and system driven e-market place that enables procurement …
About IBBI The Insolvency and Bankruptcy Board of India (IBBI) was established in 2016 under the Insolvency and Bankruptcy Code (IBC), 2016. The Code aims for reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time …
Why in News: Recently, the Financial Stability Board (FSB), a body which advises major economies on international finance, promised to push for stablecoin regulation, citing “recent turmoil” in the cryptocurrency market. In May 2022, Tether lost $10 billion in market …
About APEDA The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act,1985. The Authority replaced the Processed Food Export Promotion Council (PFEPC). …
About the scheme Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Government of India to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them. Launched in 2015 to promote …
Context During the Union Budget 2022, the Finance Minister proposed to introduce a Central Bank Digital Currency (CBDC)– a digital version of the rupee, using blockchain and other technologies, starting 2022-23. Efforts to introduce CBDC are also gaining momentum across …
What’s in the news? Singapore (27.01%) and USA (17.94%) have emerged as top 2 sourcing nations in FDI equity flows into India in FY 2021-22 followed by Mauritius (15.98%), Netherland (7.86%) and Switzerland (7.31%). It may be noted that as …
EAC-PM Economic Advisory Council to the Prime Minister (EAC-PM) is a non-constitutional, non-permanent and independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister. The Terms of Reference of …
What’s in the news? In 2021, the World Bank approved a $500 million program to support MSMEs in India to increase liquidity access for viable small businesses impacted by COVID-19. Known as the Raising and Accelerating Micro, Small and Medium …
About Co-operative banks Co-operative banks are financial entities established on a co-operative basis and belonging to their members. This means that the customers of a co-operative bank are also its owners. These banks provide a wide range of regular banking …