Why in the News? The appointment committee of the Cabinet has approved a government resolution for establishing the Financial service institution Bureau in place of the Bank Board Bureau. BBB: History To Nationalize the banks in the 1970s and 80s, Govt. of India brought in an act called "The Banking Companies (Acquisition and Transfer of Und... .Read more
Updated on 6 August, 2022 GS3 Economy
Why in the news? Karnataka has achieved the top rank in NITI Aayog’s India Innovation Index, 2022, which determines innovation capacities and ecosystems at the sub-national level. India Innovation Index (III) The release of the second edition of the index, the first was launched in October 2019 which demonstrates the Government’s cont... .Read more
Why in news? Growing current account deficit. Surging imports and slowing exports will make the current account deficit rise. About News India’s merchandise trade deficit record high of 25.6 billion in June. The deficit was more than double the level observed last year. Trade deficit A trade deficit happens when the valu... .Read more
Why in the news? As per a recent conference of the food minister and nutrition security of India, the Centre intervened to boost paddy sowing in the state as there is shrunk in sown area. What is Paddy Crops? Paddy, also called rice paddy, flooded fields used to cultivate rice in southern and eastern Asia. Paddy is a Kharif crop, It is grown in... .Read more
Why in the news? Recently, as per the report, the Indian market has witnessed the exit of FPIs (Foreign Portfolio Investment) due to the Russia-Ukraine war. What is FPI? FPI is a means of investment in which investors comprise securities and other financial assets in other countries. FPI comprises stocks, ADRs, bonds, mutual funds, and e... .Read more
Why in the News? As per the recent news, the government is implementing a ban on wheat and rice ban. Background This is definitely not the first attempt to ban wheat and rice exports. It was once done in 2007-08, in the concern of the global financial crisis. Maybe the government will also inflict stocking limits on merchants/traders for a ho... .Read more
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