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 …
Shrimp exports from India Frozen shrimp is India’s largest exported seafood item. It constituted 50.58% in quantity and 73.2% in terms of total U.S. dollar earnings from the sector during 2019-20. Andhra Pradesh, West Bengal, Odisha, Gujarat and Tamil Nadu …
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 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 …
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 …
Context The United States has proposed retaliatory trade actions against India and certain other countries that have imposed or are considering digital services tax on e-commerce companies. The United States Trade Representative (USTR) has proposed to impose retaliatory tariffs up …
How does India measure retail inflation? Inflation is the rate of change in the prices of a given set of items. India bases its retail inflation metrics on the Consumer Price Index (CPI). The index records changes in prices for …
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 …
About Merchandise export from India scheme Merchandise Exports from India Scheme (MEIS) was introduced under Foreign Trade Policy of India (FTP 2015-20), as a part of Exports from India Scheme. The scheme provides incentive in the form of duty credit …