Forex reserves

Context: Recently, Forex reserves jumped $2.816 billion to $606.859 billion. About forex reserves Foreign Exchange Reserves refer to assets kept in reserve by a central bank, comprising foreign currencies such as bonds, treasury bills, and government securities. These reserves, expressed in the US dollar, the international standard, are managed by the RBI, serving as the cust

Indian start-ups

Context: Funding slowed, jobs were lost, and only 2 unicorns were created in 2023. A number of firms cropped up hoping to ride the ongoing generative AI wave. Background: Indian start-ups experienced a significant drop in funding, reaching $8.3 billion in the past year, marking the lowest since 2016. The compound annual growth rate (CAGR) of funding in the last three years witnessed a s

RBI Governor pushes for group insolvency mechanism

Context: RBI Governor Shaktikanta Das advocates for a specified framework for the group insolvency mechanism and a vibrant market for stressed assets in India to enhance the functionality of the Insolvency and Bankruptcy Code (IBC). News: Legislative changes to establish appropriate principles for the group insolvency mechanism, addressing challenges like intermingling of assets, defining

Logistics costs in India

Context: Accurate data is the first step in bringing down logistics costs in India. Accurate data is crucial for reducing logistics costs in India for several reasons: Improved decision-making: Accurate data enables logistics managers to make informed decisions based on real-time information, leading to more efficient supply chain management and reduced costs Optimized routes: By analyzing

Post Payments Bank

Context: India Post Payments Bank enter into MoU with Hindustan Zinc to offer financial inclusion services to its CSR beneficiaries. Significance of the MOU: The collaboration will ensure in creating a lasting impact on the lives of community beneficiaries around Hindustan Zinc’s operational areas.  The key services provided by the IPPB will ensure Financial Inclusion and ens

National workshop on mental health services

Context:  NITI Aayog organized a National Workshop on "Strengthening Mental Health Services and Care in India" at the National Institute of Mental Health and Neurosciences (NIMHANS), Bangalore. Objective: The purpose of the workshop was to elicit the views of States and other stakeholders on existing gaps and challenges under the District Mental Health Program (DMHP) and

Union Budget 2024-25: Highlights –Interim Budget

Union Budget 2024-25: Highlights –Interim Budget A budget is a forecast of the government’s revenue and expenses for a future period, typically the upcoming financial year. The Union Budget gives a detailed account of the government's finances over the previous fiscal year, summarises new tax proposals for the upcoming fiscal year, and estimates revenue and expend

India’s way forward: Services or manufacturing?

Context: India's economic development strategy has been debated for a long time, with some arguing for a service-led growth model and others for a manufacturing-led model. The country's current development path has seen growth primarily in the service sector, with the manufacturing sector's share of output and employment plateauing at or below 20%. Service sector model: The s

Internet cable project in Lakshadweep

Context: recently Kochi–Lakshadweep submarine optical fibre cable project was inaugurated , implemented at a cost of ₹1,072 crore, which will connect the islands to high-speed internet for the first time, after years of relying on limited satellite bandwidth. About the project: Objective   The KLI project involves extending submarine cable connectivity from Kochi to eleve

Gulf of Aden

Context: The Indian Navy has deployed ships and aircraft to maintain enhanced surveillance and maritime security operations in the North/Central Arabian Sea and Gulf of Aden.  News: The Navy is actively observing the situation in collaboration with national maritime agencies and is dedicated to guaranteeing the well-being of merchant shipping and seafarers in the area. Cu