GS3

Bank Merger

Finance Minister of India has declared to merge 10 Public Sector Banks into 4 big banks (that has reduced the number of PSU to 12 from 27 of 2017) which is a big consolidation of public sector banks. Key Pronouncement of the Merger The scheme of amalgamation has led to the merger of the following banks: Merger Number 1: Oriental Bank of Commerce (OBC) ... .Read more

Updated on 12 September, 2019 GS3 Economy

Monetary Policy Transmission Rates UPSC

Monetary Policy Transmission - The RBI has finally decided that it needs to address the problem of inadequate interest rate transmission head-on. It has directed lenders to link all new floating rate loans given to borrowers in the personal, retail and micro, small and medium enterprise (MSME) categories to external benchmarks, including the repo rate, with ... .Read more

Updated on 6 September, 2019 GS3 Economy

Exchange Rate Driven By Capital Flows - RBI Report

At the Forex Association of India Conference in Singapore, RBI Deputy Governor B.P. Kanungo said that the exchange rate dynamics in India is driven by the capital flows rather than current account balances. He also highlights that India’s forex reserves are borrowed and they are not built out of export surplus. The intervention by the central bank in the f... .Read more

Updated on 28 August, 2019 GS3 Economy

Trade Wars And Its Impact On India And Globalization

The economic conflict in which states create trade wars against each other can be defined as a trade war. One of the causes of the trade war is extreme protectionism. To promote international trade by reducing trade barriers such as tariffs or quotas, a legal agreement called General Agreement on Tariffs and Trade (GATT) was formed in 1948. In 1995, GATT bec... .Read more

Updated on 28 August, 2019 GS3 Economy

Cycle of extremes: On droughts and flood

Cycle of extremes: On droughts and flood - Long periods of drought and then a sudden bout of excessive rainfall, bringing floods has become a hallmark of Indian Monsoon for the last few years. A common feature of drought and floods with coexistence poses a potent threat that cannot be eradicated but has to be managed. The article suggests the crippling cycl... .Read more

Updated on 25 August, 2019 GS3 Disaster Management

Kurukshetra Union Budget 2019-20

Kurukshetra Union Budget 2019-20, Rural Development and the Interim Budget 2019. In terms of budgetary allocation for agriculture, there has been an increase of 80% in 2019-20 over 2018-19. Over the years, several new challenges have emerged before the agricultural sector especially, declining factor productivity, an increase in the cost of cultivati... .Read more

Updated on 22 August, 2019 GS3 Economy