About FSDC Financial Stability and Development Council (FSDC) is an apex-level body constituted in 2010 to strengthen and institutionalize the mechanism for maintaining financial stability. It is not a statutory body. It is chaired by the Union Finance Minister of …
What is a Non-Banking Financial Company (NBFC)? An NBFC is a company registered under the Companies Act, 1956 which provides banking services without meeting the legal definition of a bank. They engage in the business of loans and advances, acquisition …
About NPCI National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. It is an initiative of the RBI and Indian Banks’ Association (IBA) under the provisions …
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 …
What are they? Economic integration takes the form of the Preferential Trade Area, Free Trade Area, Customs Union, Common Market and Economic Union. A preferential trade area (PTA) is a trading bloc that gives preferential access to certain products from …
NEWS Lockdown amidst pandemic have led to a boom in Internet consumption. According to the Department of Telecommunications, Internet consumption in India rose by 13% after the lockdown was announced. Higher consumption has generated goldmines of user data that online …
What’s in the news? The Monetary Policy Committee (MPC) of the RBI announced its decision to hold the benchmark repo rate unchanged at 4% and maintained an ‘accommodative’ policy stance. The central bank has slashed the repo rate by 115 …
Context: Internal Committee of Reserve Bank of India recommended licenses to qualified corporate houses after amending Banking Regulation Act, 1949. This has resulted in a range of reactions in different quarters. Background: In the year, 2013, the RBI had issued …
What’s in the news? China has begun importing Indian rice for the first time in at least three decades due to tightening supplies from Thailand, Myanmar and Vietnam and an offer of sharply discounted prices. India is the world’s biggest …
What’s in the news? As per estimates released by the National Statistical Office, India’s Gross Domestic Product (GDP) contracted 7.5% in the second quarter of 2020-21, following the record 23.9% decline recorded in the first quarter. The country has now …