About IIP The Index of Industrial Production (IIP) details the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. It is compiled and published every month by the National Statistical Office (NSO) under the Ministry …
What’s in the news? India is projected to grow at 8% over the current fiscal year (April 1- March 31), and 7.1% over the next (FY 2023-24) fiscal year, the World Bank said in its twice yearly South Asia Economic …
Context Recently, India’s central bank announced cardless cash withdrawals at ATMs in the country. The feature will let consumers use Unified Payment Interface (UPI) on their smartphones to withdraw cash from ATMs. All ATMs across the country must enable this …
About NMP Last year, Finance Minister Nirmala Sitharaman unveiled a four-year National Monetisation Pipeline (NMP) worth an estimated Rs 6 lakh crore. It aims to unlock value in brownfield projects (which are assets that are already operational) by engaging the …
What’s in the news? The RBI has introduced the Standing Deposit Facility (SDF), an additional tool for absorbing liquidity, at an interest rate of 3.75 per cent. Role of SDF The main purpose of SDF is to reduce the excess …
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 …
What’s in the news? The Reserve Bank has taken steps towards normalisation of liquidity management to pre-pandemic levels, with the introduction of the standing deposit facility (SDF) as the basic tool to absorb excess liquidity, and narrowing the liquidity adjustment …
About MPC The Monetary Policy Committee (MPC) is a committee of the RBI which is entrusted with the task of fixing the benchmark policy interest rate (repo rate) to contain inflation within the specified target level. The 2016 amendment of …
What is it? A platform cooperative is a digital platform — a website or mobile app that is designed to provide a service or sell a product — that is collectively owned and governed by the people who depend on …
About Small Finance Banks The small finance banks (SFB) primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector …