Explained: How waived loans impact states

Context The Reserve Bank of India shared the report of an Internal Working Group (IWG), which was set up in February to look at, among other things, the impact of farm loan waivers on state finances. The report has shown how farm loan waivers dented state finances and urged governments — Read More …

Advisory Board for Banking Frauds (ABBF)

Context The Central Vigilance Commission (CVC) has constituted an Advisory Board for Banking Frauds (ABBF). It will be headed by former Vigilance Commissioner T.M. Bhasin to examine bank fraud of over ₹50 crore and recommend action. The panel in its previous avatar was called the Advisory Board on Bank, Commercial Read More …

FDI policy on various sectors

Context The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal for Review of Foreign Direct Investment on various sectors. Major Impact and Benefits from FDI Policy Reform The changes in FDI policy will result in making India a more attractive FDI destination, leading to Read More …

Portal for Affordable Credit and Interest Subvention Access (PAiSA)

Context Recently Deendayan Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), a flagship mission under the MoHUA has been conferred the prestigious SKOCH Governance Gold Award for its PAiSA portal. About PAiSA Portal PAiSA stands for Portal for Affordable Credit and Interest Subvention Access. Launched in November 2018, PAiSA is a centralized Read More …

Marine Fisheries Regulation and Management (MFRM) Bill 2019

Context A Marine Fisheries Regulation and Management (MFRM) Bill 2019 is in the public domain for discussion. Comprehending the Bill’s rationale requires understanding the United Nations Convention on the Law of the Sea (UNCLOS) 1982 and the World Trade Organisation (WTO) agreements under which India has obligations to frame laws. Read More …

Explained: How and why RBI transfers to government

Context The RBI Central Board decided to transfer a record surplus — Rs 1.76 lakh crore — to the government. The issue of transfer of surplus or profits has often been contentious. The government often pitches for a higher payout, arguing it needs to spend to deliver on promises and to keep Read More …

Explained: What ails the existing microcredit model

Context Microcredit has gained much traction as a tool for ensuring the welfare of the most impoverished in society, and boosting development alongside. What is Microcredit? Microcredit refers to the granting of very small loans to impoverished borrowers, with the aim of enabling the borrowers to use that capital to Read More …

Sabka Vishwas – Legacy Dispute Resolution Scheme

Context In the Union Budget 2019-20, the Finance Minister announced the Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019. The Scheme has now been notified and will be operationalized from 1st September 2019 and would continue till 31st December 2019. Sabka Vishwas-Legacy Dispute Resolution Scheme This Scheme is introduced to resolve and settle legacy Read More …

All the major announcements to boost economic growth

Context Union Finance Minister Nirmala Sitharaman announced a slew of measures on August 23 to prop up the slowing economy. Addressing a press conference, Ms. Sitharaman sought to dispel doubts over the economy and the government’s growth agenda. Announcing that the global GDP growth may be revised downwards from the Read More …

Explained: What is Floccinaucinihilipilification?

Context In the minutes of the Monetary Policy Committee, which decides on India’s monetary policy, released on Wednesday, one of the government-nominated members, Chetan Ghate, is quoted as stating: “Estimates of economic growth in India have unfortunately been subject to a fair degree of floccinaucinihilipilification. Notwithstanding this, growth is likely Read More …