Economy

GDP contracts 7.5% in second quarter

In News: 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, as per estimates released by the National Statistical Office . The country has now entered a technical recession with two successive quarters of negative growth. However, the econom... .Read more

Updated on 28 November, 2020 Target 2021 GS3 Economy

Delhi Chalo farmers protest march: A look into the reasons (Summary)

Context: Thousands of farmers from Punjab, Haryana, Rajasthan and Uttar Pradesh have been marching toward the national capital in protest against the three central farm legislations. More on the news: Farmers want the Union government to either withdraw the three legislations or guarantee them the minimum support price (MSP) for their crops by intro... .Read more

Updated on 28 November, 2020 GS3 Economy

Draft Merchant Shipping Bill, 2020

Context: The Ministry of Ports, Shipping and Waterways has come up with a draft of the Merchant Shipping Bill, 2020 for public consultation. More on the news: It has been a priority of the government of India to replace all archaic colonial laws with modern and contemporary International laws with active participation of people to enhanc... .Read more

Updated on 27 November, 2020 GS3 Economy

Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited (PIB)

Context: The Union Cabinet, chaired by the Prime Minister has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL). Benefits of amalgamation: There will be no further restrictions on the depositors regarding withdrawal of their deposits. It is in line with the Government'... .Read more

Updated on 26 November, 2020 GS3 Economy

Large corporate should be allowed ownership of private banks: RBI

Context: A recent recommendation by the Reserve Bank of India (RBI), allowing large corporate or industrial houses to be promoters of private banks has raised a lot of concern. More on the news: The Internal Working Group(IWG) of RBI, constituted to “review extant ownership guidelines and corporate structure for Indian private sector ban... .Read more

Updated on 25 November, 2020 GS3 Economy

Banking health and the ‘K Curve’ dynamics

Context: Depositors in Lakshmi Vilas Bank Limited (LVB) recently got bailed out by the RBI. The non-banking financial companies, or NBFCs are also in trouble. More on news: The implications of this financial turmoil will reflect on the price performance of individual banks. Price action of banks in the market can provide useful insight... .Read more

Updated on 24 November, 2020 GS3 Economy