Economy

Department for Promotion of Industry and Internal Trade

The Department of Industrial Policy and Promotion (DIPP) has been renamed as the Department for Promotion of Industry and Internal Trade. Mandate for the Newly Named Department The newly named department will work under the Union Ministry of Commerce. The order issued by the President states that the department would deal with matters related to …

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Bank Disinvestment

The Finance Ministry has asked the public sector banks to gradually reduce the government’s equity to 52 per cent. Currently, some of the public sector banks have government’s holding beyond 75 per cent. Why the disinvestment? The decision to bring down the government’s equity to 52 per cent was taken due to the following reasons: …

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Panda Bonds

Panda bonds are Chinese renminbi-denominated bonds from a non-Chinese issuer, sold in the People’s Republic of China.  The first two Panda bonds were issued in October 2005 by the International Finance Corporation and the Asian Development Bank on the same day. The Philippines issued its inaugural Panda bonds in 2018. It was the first ASEAN member to issue Panda bonds. Why in news? …

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Latest Stats

  Term Current Status As on Repo Rate 6.5% 06/12/2018 Cash Reserve Ratio 4% 06/12/2018 Reverse Repo Rate 6.25% 06/12/2018 Marginal Standing Facility 6.75% 06/12/2018 Bank Rate 6.75% 06/12/2018 Statutory Liquidity Ratio 19.25% 06/12/2018 Foreign Exchange Reserve $393.12 Billion 22/12/2018 Repo rate: It is rate at which RBI lends to its clients generally against government …

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RBI autonomy debate

Issues between RBI and Government: Government wants to ease lending norms for facilitating MSMEs. RBI want to continue banks clean-up efforts instead. Government wants to setup an independent Payments Regulatory Board. RBI wants it under its own purview. Government and RBI differ on classification of NPAs. Payments Regulatory Board issue: Reserve Bank of India (RBI) …

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