UPSC Economics Quiz Notes PDF

26 Jul 2024 19:25

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UPSC Economics Quiz Notes PDF

24 Jul 2024 05:31

💼 BUDGET 2024 TEAM

▪️ Nirmala Sitharaman - Finance Minister
▪️ Pankaj Chaudhary - Minister of State Finance
▪️ TV Somanathan - Finance Secretary
▪️ Sanjay Malhotra - Revenue Secretary
▪️ Vivek Joshi - Financial Services Secretary
▪️ Ajay Seth - Economic Affairs Secretary
▪️ Tuhin K Pandey - DIPAM Secretary
▪️ V Anantha Nageswaran - Chief Economic Advisor
▪️ Sanjay Agarwal - CBIC Chairman
▪️ Ravi Agarwal - CBDT Chairman

UPSC Economics Quiz Notes PDF

14 Jul 2024 04:38

Money laundering:

"Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions."

Money laundering typically includes three stages: placement, layering and integration stage.

✏️Placement is the first step of money laundering which is the process of moving the money into the legitimate source via financial institutions, casinos, financial instruments etc. and at the same time, hiding its source.

✏️The second stage is “layering”, also referred as “structuring stage”. It breaks the funds into small transactions and makes it difficult to detect and find out about the laundering activity. It usually entails international money movement, so the law enforcement agencies won’t be able to track the financial gains from illegal proceedings so easily.

✏️The third stage is Integration stage, In this stage, money is now returned to the criminals legitimately after it has been placed in the financial system, often breaking it into different multiple smaller financial transactions. Criminals can now retrieve their illicit funds in a legal way after fully integrating them into a legitimate source, and are able to use them for any purpose.

"Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income."

⏺Prevention of Money Laundering Act (PMLA), 2002 is an Act of the Parliament of India enacted by the government to prevent money-laundering and to provide for confiscation of property derived from money-laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005.

UPSC Economics Quiz Notes PDF

05 Jul 2024 04:00

💰IGST
🧰The full form of IGST is Integrated Goods and Services Tax. Under GST, IGST is a tax levied on all interstate supplies of goods and/or services or across two or more states/Union Territories.

💰CGST
🧰The full form of CGST is Central Goods and Services Tax. Under GST, CGST is a tax levied on intrastate supplies of both goods and services by the Central Government and collected by it for its coffers.

💰SGST
🧰SGST means State Goods and Services Tax. Under GST, an equivalent amount of SGST is a tax levied on intrastate supplies of both goods and services by the particular state government where the product sold is consumed.

UPSC Economics Quiz Notes PDF

26 Jun 2024 04:49

💠Some Important Facts About Goods and Services Tax (GST) :-
---------------------------------------------------------

🍁It is a comprehensive indirect tax levied on the supply of goods and services in India.

🍁France was the first country to implement GST, In 1954

🍁GST was introduced as the 101 Amendment Act.By a constitutional amendment bill 122nd amendment bill the new taxation regime is to be implemented in India, from April 2016.

🍁The first state in India to pass the GST legislation in the Assembly :- Assam

🍁India's GST is based on the model of which country? Canada

🍁When did GST come into effect in India? 1 July 2017

🍁Which committee suggested to implement GST in India? Vijay Kelkar Committee

🍁Who was the chairman of the committee that first drafted the GST bill - Aseem Dasgupta

🍁How many types of GST rates are there:- 0% 5% 12% 18% 28%

🍁How many digits are there in GST registration number:- 15 digits

🍁Who is the Chairman of GST Council – Finance Minister

🍁National Customs and GST Museum inaugurated – in Panaji, Goa.

UPSC Economics Quiz Notes PDF

17 Jun 2024 04:51

📍 WATER MANAGEMENT INFRASTRUCTURE

#Infrastructure

💡 Drinking water supply

💡 Sewage collection and disposal of wastewater

💡 Drainage systems

💡 Major irrigation systems (reservoirs, irrigation canals) Major flood control systems

💡 Communications Infrastructure

💡 Undersea cables



📍 COMMUNICATIONS INFRASTRUCTURE

#Infrastructure

💡 Postal service

💡 Telephone networks, including mobile phone networks

💡 Television and radio transmission stations

💡 Internet

💡 Communication satellites

💡 Undersea cables



📍CRITICAL INFRASTRUCTURE

#Infrastructure 

Critical infrastructure consists of those assets on which the rest of the economy depends:

💡 Electricity generation, transmission and distribution

💡 Gas production, transport and distribution

💡 Oil and oil products production, transport and distribution.

💡 Telecommunication

💡 Water supply (drinking water, waste water/sewage, stemming of surface water, such as dikes and sluices)

💡 Agriculture, food production and distribution

💡 Public health (hospitals, ambulances)

💡 Transportation systems (fuel supply, railway network, airports, harbours, inland shipping)

💡 Financial services (banking, clearing)

💡 Security services (police, military)



📍 URBAN INFRASTRUCTURE

#Infrastructure

💡 Urban or municipal infrastructure refers to hard infrastructure systems owned and operated by municipalities, such as streets, water distribution and sewerage.

💡 It may also include some of the facilities associated with soft infrastructure, such as parks, public pools and libraries.


📍 GREEN INFRASTRUCTURE

#Infrastructure

💡 Green infrastructure is a concept that highlights the importance of the natural environment. There is an emphasis on the life support functions provided by a network of natural ecosystems.

💡 Examples include green belts, wildlife sanctuaries, eco sensitive regions, tiger, lion and elephant reserves, bird sanctuaries, Western Ghats being conserved, etc.



📍 NATIONAL CRITICAL INFORMATION INFRASTRUCTURE  (NCIIPC)

#Infrastructure

💡 NCIIPC is an organization of the Government of India created under Information Technology Act, 2000. Based in New Delhi, it is designated as the National Nodal Authority with respect to Critical Information Infrastructure Protection.

💡 The Information Technology Act, 2000 defines Critical Information Infrastructure (CII) as 'those computer resource, the incapacitation or destruction of which, shall have debilitating impact on national security, economy, public health or safety'. NCIIPC broadly identified the following as Critical Sectors:

▪︎ Power and Energy

▪︎ Banking, Financial Services and Insurance

▪︎ Telecom

▪︎ Read aloud

▪︎ Transport

▪︎ Government

▪︎ Strategic and Public Enterprises



📍 FINANCING INFRASTRUCTURE

#Infrastructure

💡 Investment in infrastructure builds capital stock needed for economic development.

💡 Traditionally, infrastructure is financed by the government.

💡 However, given the scarcity of public resources and the need to shift scarce public resources to health and education, efforts have been made to bring in private participation in the development of this infrastructure.

💡 Currently, the source of financing varies significantly across sectors. Some are government monopolies, such as the railways and nuclear power. Some sectors are dominated by government spending, others by Overseas Development Aid (ODA) and yet others by private investors. PPP is emerging as the dominant model

💡 Debt and equity are, like anywhere else, ways of raising resources.

UPSC Economics Quiz Notes PDF

16 Jun 2024 13:05

UPSC PRELIMS 16 June GS 2024 Question Hindi.pdf

UPSC Economics Quiz Notes PDF

07 Jun 2024 08:07

✅List of Abbreviations Used in Economics

👉🏻 National Income and Related Aggregates

GDP: Gross Domestic Product
GDP MP: Gross Domestic Product at Market Price
GDP FC: Gross Domestic Product at Factor Cost
NNP MP: Net National Product at Market Price
NNP FC: Net National Product at Factor Cost
NDP MP: Net Domestic Product at Market Price
NDP FC: Net Domestic Product at Factor Cost
PI: Personal Income
PDI: Personal disposable Income
GVA: Gross value added
NVA: Net value added

👉🏻 Money and Banking

LRR: Legal Reserve Requirement
CRR: Cash Reserve Ratio
SLR: Statutory Liquidity Ratio
OMO: Open Market Operation
RBI: Reserve Bank of India
GOI: Government of India
MD: Money Demand
MS: Money Supply

👉🏻Income and Employment Determination

APC:  Average Propensity to Consume
APS: Average Propensity to Save
MPC: Marginal Propensity to Consume
MPS: Marginal Propensity to Save
AD: Aggregate Demand
AS: Aggregate Supply

👉🏻Government Budget and Economy

PSUs: Public Sector Undertakings
FRBMA: Fiscal Responsibility and Budget Management Act

👉🏻Balance of Payment

BOP: Balance of Payment
BOT: Balance of Trade
PPP: Purchasing Power Parity
NEER: Nominal Effective Exchange Rate
FDI: Foreign Direct Investment

UPSC Economics Quiz Notes PDF

05 Jun 2024 09:58

📌 अर्थव्यवस्था के प्रकार –

✍️ कृषक अर्थव्यवस्था – अगर किसी अर्थव्यवस्था के सकल उत्पादन (सकल घरेलू उत्पाद) में प्राथमिक क्षेत्र का योगदान 50% या इससे अधिक हो तो वह कृषक अर्थव्यवस्था कही जाती है।

✍️ औद्योगिक अर्थव्यवस्था – ऐसी अर्थव्यवस्था में उसकी सकल आय में द्वितीयक क्षेत्र का हिस्सा 50% या इससे अधिक रहता है तथा इसी अनुपात में इस क्षेत्रक पर लोगों की निर्भरता भी रहती है। पूरा का पूरा यूरोप-अमेरिका इस स्थिति में रहा था, जब उन्हें औद्योगिक अर्थव्यवस्था का नाम दिया गया था। यह स्थिति भारत में अभी तक नहीं आयी न तो द्वितीयक क्षेत्र का योगदान इस स्तर तक बढ़ा न ही इस पर जनसंख्या की निर्भरता ही बढ़ी।

✍️ सेवा अर्थव्यवस्था – ऐसी अर्थव्यवस्था जिसके अंतर्गत सकल आय में तृतीयक क्षेत्र का योगदान 50% या उससे ज्यादा होता है, उसे सेवा अर्थव्यवस्था कहा जाता है।

📌 Types of Economy –

✍️ Agrarian Economy – If the contribution of the primary sector in the gross production (Gross Domestic Product) of an economy is 50% or more, then it is called agrarian economy.

✍️ Industrial Economy - In such an economy, the share of the secondary sector in its gross income is 50% or more and in the same proportion the dependence of the people on this sector is also there. The whole of Europe-America had been in this state when they were named industrial economies. This situation has not yet come in India, neither the contribution of the secondary sector has increased to this level nor the dependence of the population on it has increased.

✍️ Service Economy - An economy in which the tertiary sector contributes 50% or more to the gross income is called a service economy.

UPSC Economics Quiz Notes PDF

03 Jun 2024 08:47

📍 POTENTIAL GDP

#Nationalincome

💡 Potential output is what the economy can produce without destabilizing the macroeconomic fundamentals like inflation, interest rates, fiscal deficit and so on.

💡 It is the optimum production that can be achieved over the long term.

💡 The actual GDP is what is produced, and the difference between potential output and actual output is referred to as output gap or GDP gap. It indicates the policies that need to be followed, either to accelerate or decelerate the growth rate.

💡 Sustainability is crucial in deciding on potential output. Sustainability is in terms of prices, fiscal deficit, current account deficit (exports cannot be boosted by devaluing the exchange rate as it can be dysfunctional), financial sector not accumulating Non- Performing Assets (NPAs), etc.

UPSC Economics Quiz Notes PDF

03 Jun 2024 08:47

📍 MARKET STABILIZATION BONDS

#Monetarypolicy

💡 For normal liquidity management, there are open market operations of the RBI when the RBI tolls and buys G-secs as the market conditions demand.

💡 But when the need to absorb huge amounts of cash arises, for example post demonetization in 2016, normal OMOS do not work.

💡 When foreign currency comes into the country, it gets converted into rupees and enters the economy. RBI prints rupees to buy the foreign currency. Thus, the rupee flow increases and is inflationary.

💡 It needs to be absorbed by the RBI. In 2004, RBI floated large amount of Government securities, as a part of the Market Stabilization Scheme (MSS), to absorb excess liquidity from the market. MSS is a sterilization effort of the central bank.

💡 The normally available government securities are not enough for the RBI to draw out the huge rupee supply (printed money) that was created for buying the dollar. Therefore, the MSS was started.


📍 LIQUIDITY TRAP

#Monetarypolicy

💡 A liquidity trap is a situation when rates and reserve requirements are lowered to stimulate demand, but it does not have the positive impact on reviving demand and growth. There are no takers for bank credit.

💡 It happens in times of recession that is getting worse. There are deflationary expectations and the economy can be faced with the problem of short-term interest rates reaching or nearing zero. This makes the monetary policy ineffective.

💡 Money supply can be increased by printing more to make credit cheap and de-risk lending. Otherwise, recession can turn into depression. It is called the Zero Lower Bound (ZLB).



📍ANCHOR INVESTOR

#Stockmarket

💡 Anchor investors or cornerstone investors (as they are called globally) are institutional investors like sovereign wealth funds, mutual funds and pension funds that are invited to subscribe for shares ahead of the IPO to boost the popularity of the issue and provide confidence to potential IPO investors.

💡 The benefit for institutional investors applying in anchor quota is that they get guaranteed allotment.

💡 Anchor investors, however, can- not sell their shares for a period of 30 days from the date of allotment as against IPO investors who can sell on listing day.

UPSC Economics Quiz Notes PDF

30 May 2024 16:17

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UPSC Economics Quiz Notes PDF

29 May 2024 10:20

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UPSC Economics Quiz Notes PDF

26 May 2024 19:33

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UPSC Economics Quiz Notes PDF

19 May 2024 07:50

Four Currencies Note Printing Presses

☀️Nashik in Maharashtra owned by govt of India.

🎉Dewas in Madhya Pradesh owned by govt of India

🎊Mysuru in Karnataka owned by RBI

✨Salboni in West Bengal owned by RBI

☀️Four Mints owned by the Government of India Mumbai, Hyderabad, Calcutta and 
Noida.

UPSC Economics Quiz Notes PDF

24 Jul 2024 05:31

🔥UNION BUDGET

1. James Wilson, the British economist, presented the first-ever budget in India in 1860.
2. According to Article 112 of the Constitution of India, the Union Budget of a year is called the Annual Financial Statement. Nowhere in the constitution is the word "budget" mentioned.
3. The first Union Budget of Independent India was presented by the first Union FM, R.K. Shanmukham Chetty.
4. From 1924 to 2016, the General Budget and the Railway Budget were presented separately.
5. India stopped presenting a separate Railway Budget in 2017 after the Union Cabinet approved its merger with the General Budget in 2016.
6. Nirmala Sitharaman is the first full-time woman Union Finance Minister.
7. Nirmala Sitharaman will present her seventh consecutive Union Budget as the Finance Minister.
8. She will break the record of Morarji Desai, who consecutively presented the Union Budget six times.
9. Overall, Morarji Desai holds the record for presenting the Union Budget the most number of times.

UPSC Economics Quiz Notes PDF

18 Jul 2024 10:06

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UPSC Economics Quiz Notes PDF

14 Jul 2024 04:38

🔹Board for Financial Supervision(BFS)🔹

The Reserve Bank of India performs the supervisory function under the guidance of the Board for Financial Supervision (BFS). The Board was constituted in November 1994 as a committee of the Central Board of Directors of the Reserve Bank of India under the Reserve Bank of India (Board for Financial Supervision) Regulations, 1994.

➡️Objective
The primary objective of BFS is to undertake consolidated supervision of the financial sector comprising Scheduled Commercial and Co-operative Banks, All India Financial Institutions, Local Area Banks, Small Finance Banks, Payments Banks, Credit Information Companies, Non-Banking Finance Companies and Primary Dealers.

➡️Constitution
The Board is constituted by co-opting four Directors from the Central Board as Members and is chaired by the Governor. The Deputy Governors of the Reserve Bank are ex-officio members. One Deputy Governor, traditionally, the Deputy Governor in charge of supervision, is nominated as the Vice-Chairman of the Board.

In April 2018, a Sub-committee of the Board for Financial Supervision was constituted, under Para 11 & 12 of the Reserve Bank of India (Board for Financial Supervision) Regulations, 1994. The Sub-committee performs the functions and exercises the powers of supervision and inspection under the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949, in relation to Payments Banks, Small Finance Banks, Local Area Banks, small Foreign Banks, select scheduled Urban Co-operative Banks, select Non-Banking Financial Companies and Credit Information Companies. The Sub-committee is chaired by the Deputy Governor in charge of supervision and includes the three Deputy Governors and two Directors of the Central Board as Members.

➡️BFS Meetings
The Board is required to meet normally once every month. It deliberates on inspection reports, periodic reviews related to banking and non-banking sectors and policy matters arising out of or having relevance to the supervisory functions of the Reserve Bank.

The BFS oversees the functioning of Department of Banking Supervision (DBS), Department of Non-Banking Supervision (DNBS) and Department of Co-operative Bank Supervision (DCBS) and gives directions on regulatory and supervisory issues.

➡️Functions

➖Fine-tuning the supervisory processes adopted by the Bank for regulated entities;

➖Introduction of off-site surveillance system to complement the on-site supervision of regulated entities;

➖Strengthening the statutory audit processes of banks and enlarging the role of auditors in the supervisory process;

➖Strengthening the internal defences within supervised institutions such as corporate governance, internal control and audit functions, management information and risk control systems, review of housekeeping in banks;

➖Introduction of supervisory rating system for banks and financial institutions;

➖Supervision of overseas operations of Indian banks, consolidated supervision of banks;

➖Technical assistance programme for cooperative banks;

➖Introduction of scheme of Prompt Corrective Action Framework for weak banks;

➖Guidance regarding fraud risk management framework in banks;

➖Introduction of risk based supervision of banks;

➖Introduction of an enforcement framework in respect of banks;

➖Establishment of a credit registry in respect of large borrowers of supervised institutions; and

➖Setting up a subsidiary of RBI to take care of the IT requirements, including the cyber security needs of the Reserve Bank and its regulated entities, etc.

UPSC Economics Quiz Notes PDF

01 Jul 2024 03:41

✅ Useful Commerce Abbreviations

ASSOCHAM: Associated Chambers of Commerce and Industry of India
VAT: Value Added Tax
UNCTAD: United Nations Conference on Trade and Development
TDS: Tax Deduction at Source
TIN: Tax Information Network
TAN: Tax Deduction and Collection Account Number
STT: Securities Transaction Tax
SDR: Special Drawing Rights
RTP: Reverse Tranche Position
PAN: Permanent Account Number
OLTAS: Online Tax Accounting System
NYSE: New York Stock Exchange
NSDL: National Securities Depository Limited
NAV: Net Asset Value
NASDAQ: National Association of Securities Dealers Automated Quotation
IPO: Initial Public Offering
IMF: International Monetary Fund
GDR: Global Depositary Receipt
GATT: General Agreement for Trade and Tariff
FPO: Follow-on Public Offer
FII: Foreign Institutional Investors
FICCI: Federation of Indian Chambers of Commerce and Industry
FDI: Foreign Direct Investment
FCCB: Foreign Currency Convertible Bond
ECB: External Commercial Borrowing
DICGC: Deposit Insurance and Credit Guarantee Corporation of India
CPI: Consumer Price Index
CII: Confederation of Indian Industries
BIS: Bureau of Indian Standards
BSR: Basic Statistical Return
ASBA: Application Supported by Blocked Amount
INC.: Incorporated
GP: Gross Profit
FOC: Free of Cost
DISC: Discount
CSR: Corporate Social Responsibility
CPU: Cost Per Unit
CIF: Cost Insurance and Freight
C&F: Cost and Freight
ADR: American Depository Receipt
BEP: Break Even Point
CPA: Certified Public Accountant
COGS: Cost of Goods Sold
CCS: Cash Compensatory Scheme
FOB: Freight on Board
IFCI: Industrial Finance Corporation of India
LLP: Limited Liability Partnership
MRTP: Monopoly and Restrictive Trade Practices
NOI: Net Operating Income
PSU: Public Sector Undertakings

UPSC Economics Quiz Notes PDF

21 Jun 2024 08:16

✍️Major areas of priority
🔺पंचवर्षीय योजनाओं मॆ प्राथमिकता के प्रमुख क्षेत्र

▪️ पहली पंचवर्षीय योजना (1951-56)
– कृषि की प्राथमिकता।  
▪️1st Five Year Plan (1951-56)
– Priority of Agriculture.

▪️दूसरी पंचवर्षीय योजना (1956-61)
– उद्योग क्षेत्र की प्राथमिकता।
▪️2nd Five Year Plan (1956-61)
– Priority of Industry Sector.

▪️तीसरी पंचवर्षीय योजना (1961-66)
– कृषि और उद्योग।
▪️3rd Five Year Plan (1961–66)
– Agriculture and Industry.

▪️चौथी पंचवर्षीय योजना (1969-74)
– न्याय के साथ गरीबी के विकास को हटाया।
▪️4th Five Year Plan (1969-74)
– Removed the development of poverty with justice.

▪️5 वीं पंचवर्षीय योजना (1974-79)
– गरीबी और आत्म निर्भरता को हटाया।
▪️5th Five Year Plan (1974-79)
– Removed poverty and self-reliance.

▪️6ठी पंचवर्षीय योजना (1980-85)
– पाँचवीं योजना के रूप में ही जोर दिया।
▪️6th Five Year Plan (1980-85)
– Emphasized only as the Fifth Plan.

▪️7 वीं पंचवर्षीय योजना (1985-90)
– फूड प्रोडक्शन, रोजगार, उत्पादकता
▪️7th Five-Year Plan (1985–90)
– Food production, employment, productivity

▪️8 वीं पंचवर्षीय योजना (1992-97)
– रोजगार सृजन, जनसंख्या का नियंत्रण।
▪️8th Five Year Plan (1992-97)
– Job creation, control of population.

▪️9 वीं पंचवर्षीय योजना (1997-02)
-7 प्रतिशत की विकास दर.
▪️9th Five Year Plan (1997-02)
– 7 percent growth rate.

▪️10 वीं पंचवर्षीय योजना (2002-07)
– स्व रोजगार और संसाधनों का विकास।
▪️10th Five Year Plan (2002-07)
– Self employment and development of resources.

▪️11 वीं पंचवर्षीय योजना (2007-12)
– व्यापक और तेजी से विकास।
▪️11th Five Year Plan (2007-12)
– Comprehensive and rapid development.

▪️12.वीं पंचवर्षीय योजना (2012-17)
-स्वास्थ्य, शिक्षा और स्वच्छता (समग्र विकास) का सुधार।
▪️12th Five Year Plan (2012-17)
– Reform of health, education and sanitation (overall development).

UPSC Economics Quiz Notes PDF

16 Jun 2024 19:49

CSE-2024 Prelims CSAT Paper

UPSC Economics Quiz Notes PDF

16 Jun 2024 13:05

CSE PRELIMS PAPER 1 2024

UPSC Economics Quiz Notes PDF

05 Jun 2024 18:59

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UPSC Economics Quiz Notes PDF

03 Jun 2024 15:07

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UPSC Economics Quiz Notes PDF

03 Jun 2024 08:47

📍 LIQUIDITY ADJUSTMENT FACILITY

#Monetarypolicy

💡 Banks need liquidity to meet their daily mismatches between need and availability.

💡 RBI helps them with a limited amount on a short-term basis through LAF.

💡 Liquidity Adjustment Facility (LAF) was introduced by RBI in 2000. It is the window through which RBI adjusts liquidity (credit) in the market against the collateral of government securities.

💡 When banks borrow under LAF, they do so at Repo rate. Banks undertake to repurchase the security at a later date, be it over night or a few days.

💡 Reverse Repo is when RBI borrows short-term from the market (absorbs excess liquidity) based on government securities and repurchases them. The rate at which it borrows is called Reverse Repo rate as it is the reverse of the Repo.

UPSC Economics Quiz Notes PDF

31 May 2024 18:06

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UPSC Economics Quiz Notes PDF

30 May 2024 08:11

Banking Abbreviations

• FEDAI- Foreign Exchange Dealers Association of India
• ALCO- Asset Liability Committee
• ALM- Asset Liability Management
• KVIC- Khadi and Village Industries Corporation
• KYC- Know Your Customer
• EXIM bank- Export and Import Bank of India
• NABARD- National Bank for Agriculture and Rural Development
• SIDBI- Small Industries Development Bank of India
• EDP- Entrepreneurship Development Programme
• LAMPS- Large Sized Adivasi Multipurpose Societies
• LERMS- Liberalized Exchange Rate Management System
• NABARD- National Bank for Agriculture and Rural Development
• NBFC- Non Banking Finance Companies
• QIB- Qualified Institutional Bankers
• RBI- Reserve Bank of India
• RDBMS- Relational Database Management System
• REC- Rural Electrification Corporation
• RFC- Resident Foreign Currency
• RIDF- Rural Infrastructure Development Fund
• RRB- Regional Rural Bank
• RTGS- Real Time Gross Settlement
• RWA- Risk Weighted Assets
• SBI- State Bank of India
• SCB- Scheduled Commercial Bank
• NRE- Non Resident External Account
• NRI- Non Resident Indian
• SDR- Special Drawing Rights
• YTM-Yield to Maturity
• LAB- Local Area Banks
• ALM- Asset Liability Management
• ANBC- Adjusted Net Bank Credit
• ASBA- Applications Supported Bank Accounts
• DPG- Deferred Payment Guarantee
• DRI- Differential Rate Of Interest
• DSCR- Debt Service Coverage Ratio
• FEDAI- Foreign Exchange Dealers Association Of India
• FOB- Free On Board
• NPV- Net Present Value
• DPN- Demand Promissory Note
• DRAT- Debt Recovery Appellate Tribunal
• OCB- Overseas Corporate Bodies
• POA- Power of Attorney
• OLTAS- Online Tax Accounting System
• OMO- Open Market Operations
• PACS- Primary Agricultural Credit Societies
• LIC- Life Insurance Corporation of India
• IEPF- Investors Education and Protection Fund
• IRDA- Insurance Regulatory and Development Authority
• CCIL- Clearing Corporation of India Limited
• OTCEI- Over the Counter Exchange Of India
• ISCI- International Standard Industrial Classification
• KCC- Kisan Credit Card
• BCSBI- Banking Codes and Standards Board of India
• SEBI- Securities and Exchange Board of India
• SFMS- Structured Financial Messaging Services
• SHG- Self Help Group
• CAR- Capital Adequacy Ratio
• SEBI- Securities and Exchange Board of India
• MICR- Magnetic Ink Character Recognition
• NSE- National Stock Exchange
• FCNR- Foreign Currency Non Resident Deposit Accounts
• CDRS- Corporate Debt Restructuring
• IDRBT- Institute for Development and Research Of Banking Technology
• YTM- Yield To Maturity
• MCA- Ministry Of Company Affairs
• MIS- Management Information System
• CRISIL- Credit Rating Information Services Of India
• ICRA- Investment Information and Credit Rating Agency of India Limited
• CARE- Credit Analysis and Research Limited
• IRDA- Insurance Regulatory and Development Authority of India
• CASA- Current and Savings Accounts
• CBLO- Collateralized Bank Lending Obligations
• CIBIL- Credit Information Bureau of India Limited
• CRR- Cash Reserve Ratio
• KYC- Know Your Customer Guidelines
• IPO- Initial Public Offer
• SLR- Statutory Liquidity Ratio
• SLRS- Scheme for Liberation and Rehabilitation of Scavengers
• EMI- Equated Monthly Instalments
• SSI- Small Scale Industries
• SME- Small and Medium Industries
• UTI- Unit Trust of India
• WPI- Wholesale Price Index
• EDI- Electronic Data Interchange
• EPS- Earning per Share
• ESOP- Employee Stock Options
• PDO- Public Debt Office
• PIN- Personal Identification Number
• NBFC- Non Banking Finance Companies
• NEFT- National Electronic Fund Transfer
• RTGS- Real Time Gross Settlement
• NPA- Non Performing Assets
• QIB- Qualified Institutional Buyers
• BOE- Bill of Exchange
• SMERA- SME Rating Agency of India Limited
• SLR- Statutory Reserve Ratio
• SIDBI- Small Industries Development Bank of India
• SIDC- State Industrial Development Corporation
• SJSRY- Swarna Jayanthi Shahari Rozgar Yojana
• SSSBE- Small Scale Service and Business Enterprises

UPSC Economics Quiz Notes PDF

27 May 2024 10:31

✔️  Key Differences Between FERA and FEMA

❤️ FERA
✔️FERA is an acronym for Foreign Exchange Regulation Act.
✔️It was passed by the Parliament of India in 1973. The act came into force on 1st January 1974.
✔️FERA Act was repealed by the Vajpayee government in 1998.
✔️It was enacted to regulate foreign exchange and payments in India. Its main objective was to conserve forex transactions.
✔️The rules and regulations of FERA on foreign exchange were conservative and restrictive.
✔️This act came into force when the forex position in the country was not good.
✔️Comparatively, FERA Act is lengthier as it has 81 sections.
✔️Under this act, the definition of the term ‘Authorized person’ was narrow.
✔️Under this act, the citizenship of an individual was the basis for determining his/her residential status.
✔️Under FERA, no provisions were made for IT.
✔️Violation of the provisions of FERA has been considered a criminal offence and the punishment for contravention was imprisonment.
✔️Violation of FERA was a non-compoundable offence i.e. the offence cannot be compromised. Moreover, the accused was not allowed any assistance from the lawyer.
✔️The appeals were sent to the Supreme Court.
✔️According to FERA, an individual should obtain permission from the RBI to carry out forex transactions.


❤️ FEMA
✔️FEMA is an acronym for Foreign Exchange Management Act.
✔️FEMA Act was passed by the Parliament of India in 1999 to replace the FERA. It came into force on 1st June 2000.
✔️FEMA is currently active in the country.
✔️It was enacted to remove the stringent regulations on foreign exchange and promote orderly management of foreign exchange and payments. Its main objective was to manage the forex transactions.
✔️The approach of FEMA Act toward foreign exchange is flexible.
✔️This act was introduced when the strict provisions of FERA were hampering the growth of the Indian economy.
✔️FEMA has 49 sections and is shorter than the FERA.
✔️Under this act, the definition of the term ‘Authorized person’ is broad and it has included the banks under it.
✔️Under this act, the basis for determining the residential status was that an individual should be residing in India for the past 6 months.
✔️Provisions on IT were introduced under the FEMA Act.
✔️Violation of the provisions of FEMA has been considered a civil offence and the punishment for contravention was a monetary penalty. If an individual fails to pay the penalty on time, he/she may be imprisoned.
✔️Violation of FEMA is a compoundable offence and the charges can be compromised or removed. FEMA provides the accused the right to obtain legal assistance from a lawyer.
✔️A special director and a special court were introduced under FEMA to address the appeals.
✔️Under FEMA, no such pre-approval or permission of RBI is required to carry out forex transactions.

UPSC Economics Quiz Notes PDF

21 May 2024 10:08

📍 HEDGE FUND

#Capitalmarket  #Moneymarket

A hedge fund is like a Mutual Fund (MFs)-both are investment vehicles which pool investors' money and invest as per the fund's mandate and returns are distributed among unit holders for a commission.

💡 However, hedge funds use strategies far more complex than MFs. Hedge funds are less transparent. SEBI. regulates them under Alternative Investment Fund (AIF).


📍 VENTURE CAPITAL

#Capitalmarket  #Moneymarket

💡 Venture capital is money provided by financial institutions who invest in startups generally that have the potential to develop into significant economic contributors.

💡 The name comes from the fact that the enterprise has certain risk built into it.


📍 ANGEL INVESTORS

#Capitalmarket  #Moneymarket

💡 An angel investor or angel is a wealthy individual or firm that provides capital for a business start-up, usually in exchange for convertible debt or ownership equity.

💡 They invest their own money unlike a venture capitalist who invests public money.

💡 They became popular after the web-based enterprises came up in the 1990's. With an aim to encourage entrepreneurship in the country by financing small start-ups, SEBI in 2013 notified norms for angel investors who are allowed to be registered as Alternative Investment Funds (AIFs).

UPSC Economics Quiz Notes PDF

19 May 2024 07:50

✅OBJECTIVE OF IMPORTANT COMMITTEES 

- Swaminathan Committee: Population Policy
- Janaki Raman Committee: Securities Scam
- Daantwala Committee: Unemployment Estimates
- Sarkaria Committee: Center State Relations
- Goswami Committee: Industrial Sickness
- Mahalanobis Committee: National Income
- Rangarajan Committee: Balance of Payments
- Goi Poria Committee: Bank Service Reforms
- Bhurelal Committee: Increase in Motor Vehicle Tax
- Sachar Committee: Socio-economic and Educational Status of Muslims
- Mahajan Committee: Sugar Industry
- Meera Seth Committee: Development of Handloom