PRELIMS DATA & FACTS

NPCI Extends Market Cap Deadline for UPI Apps

NPCI Extends Market Cap Deadline for UPI Apps Why in News? The National Payments Corporation of India (NPCI) has extended the deadline for Third-Party App Providers (TPAPs) to comply with the 30% transaction cap on Unified Payments Interface (UPI) transaction volumes until 31st December 2026. Key Points: Impact on Major UPI Players: This extension impacts major TPAPs like PhonePe

Centre for Processing Accelerated Corporate Exit (C-PACE)

Centre for Processing Accelerated Corporate Exit (C-PACE) The Centre for Processing Accelerated Corporate Exit (C-PACE) has been set up to streamline and expedite the process of company closures in India. The initiative aims to significantly reduce the time required for the voluntary winding-up of companies, bringing the process down to 70-90 days. Key Objectives and Functions Accel

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

India's stock market

India overtakes Hong Kong to become 4th-largest stock market recently. India's stock market capitalization crossed USD 4 trillion for the first time, with about half of that reportedly coming in the past 4 years. The top 3 stock markets are the U.S., China, and Japan.

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

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

‘Swayam Siddha’

Swayam Siddha is a financial product from the State Bank of India (SBI) that provides loans to women entrepreneurs from Self Help Groups (SHGs). The loans can be up to 5 lakh rupees.

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

MSMEs in India

A recent report of CBRE-CREDAI says that Maharastra, TamilNadu and Uttar Pradesh (top 3 States) contribute 40% of registered MSMEs in India. Micro, Small and Medium Enterprises are known by the acronym MSME.

Investment bankers

An investment banker is an individual who often works as part of a financial institution and is primarily concerned with raising capital for corporations, governments, or other entities. Examples of investment banker employers - Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan Chase (JPM), Bank of America Merrill Lynch (BAC), and Deutsche Bank (DB).

Show Cause Notice by Financial Intelligence Unit

Context: India’s Financial Intelligence Unit has issued show-cause notices to nine offshore crypto-currency operators, including Binance, for not complying with the Prevention of Money Laundering Act, 2002 (PMLA). News: Show Cause Notices for compliance have been sent to nine offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 o

Small finance bank

Context: Recently, Small finance bank (SFB) campaigns were launched.The initiative aims to showcase the achievements of Small Finance Banks (SFBs) in terms of their business models to various stakeholders. About Small Finance Bank (SFB): Small Finance Banks are financial institutions dedicated to providing financial services in regions that are underserved and unbanked. They are i

Domestic Systemically Important Banks (D-SIBs)

Context: Recently, the Reserve Bank of India (RBI) issued its list of Domestic Systemically Important Banks (D-SIBs). News: In the recent update by the Reserve Bank of India (RBI), both the State Bank of India (SBI) and HDFC Bank have been reclassified to higher tiers, while ICICI Bank maintains its existing categorization from the previous year The revised classifications pla

North India's 1st Biotech Industrial Park

North India’s 1st industrial biotech park inaugurated in Jammu and Kashmir’s Kathua recently. Biotech Parks offer facilities to scientists and small and medium-sized enterprises (SMEs) for technology incubation, demonstration, and pilot plant studies. The parks are established to facilitate product advancement and innovation through the development of biot

Sanjauli-Dhalli Tunnel

Context: Recently, the Chief Minister of Himachal Pradesh inaugurated the newly-constructed Sanjauli-Dhalli tunnel. About  Sanjauli-Dhalli Tunnel: Description: A double-lane tunnel spanning approximately 150 meters, constructed at an estimated cost of Rs 47 crore. Existing Dhalli Tunnel: Originally built in 1852 as a single-lane passage, the older Dhalli tunnel had exceed

Mountain Green Cover Index (MGCI)

Recently National Highways Authority of India (NHAI) signed a 3-year MoU with the National Remote Sensing Centre (NRSC) to develop & report a Green Cover Index for National highways. MGCI is a metric that measures the amount of green vegetation in mountain areas (forest, shrubs, trees, pasture land, crop land, etc.) in order to monitor progress towards the mountain targe

Zero coupon zero principle

Context: Capital markets regulator Sebi on Thursday came out with a procedure for public issuance of 'zero coupon zero principle' instruments by not-for-profit organisations (NPOs) and listing of such instruments on the Social Stock Exchange (SSE). News: Instruments issued in dematerialized form are non-transferable. The minimum issue size for such instruments is set a

South Coast Railway Zone

The South Coast Railway (SCoR) Zone is India's 18th railway zone, and its headquarters are in Visakhapatnam, Andhra Pradesh. It was announced in 2019 and still not started yet.

Inoperative account by RBI

A savings or current account is treated as inoperative, if there are no ‘customer induced transactions’ in the account for a period of over 2 years. A customer induced transaction can be a financial transaction initiated by or done at the Behest of the account holder by the bank or third party, or A non-financial transaction, or A KYC (know your

Rajiv Gandhi International Airport (RGIA)

RGIA in Hyderabad was ranked 2nd among the top 20 global airports with the highest On-Time Performance (OTP), according to Cirium’s annual report released recently. On-time performance (OTP) is a measure of how punctual an airline's flights are compared to their scheduled times. A flight is considered on-time if it arrives or departs within 15 minutes of its sche

Nation’s first interstate multi-modal transport hub coming up near Delhi airport

CONTEXT: The proposed hub located near the GMR Aerocity will provide connectivity through an Interstate Bus Terminus, Delhi Metro, the proposed Passenger Transport Centre, and proposed Rapid Rail Transit System station. Delhi International Airport Limited (DIAL) plans to develop India's first multi-modal interstate transport hub near Aerocity, focusing on integrating bus, metro, and air

DOUBLE TAXATION AVOIDANCE AGREEMENTS (DTAAS)

It is a mutually consented upon agreement between two countries on the taxability of specified incomes which both countries claim to have the right to levy tax on. Most countries have DTAAs to overcome the issue of double taxation arising due to cross border incomes. It is also aimed to promote international trade and amplify economic relations.  DTAAs ensures that the same income is

Global hunger Index

Global hunger Index       India has been ranked 111th out of 125 countries in the Global Hunger Index 2023. The index is published on an annual basis by Concern Worldwide and Welthungerhilfe. India has a score of 28.7, indicating a serious level of hunger, ranking after neighbouring countries of Pakistan (102nd), Bangladesh (81st), Nepal (69th) and Sri Lan

India Steel

India Steel     Indian steel companies plan to raise prices of various grades of the alloy due to rising import costs of coking coal.  Australia accounts for over 50% of its coking coal imports of around 55-60 million metric tonne a year. India also meets its coking coal requirements by importing from Russia and the United States. India su

Open Market Operations (OMO)

Open Market Operations (OMO)     It refers to the purchase and sale of securities (treasury bills and government securities) in open market by the central bank of any country. This is done to regulate money supply in the economy. OMO is one of the most important ways of monetary control that is exercised by the central banks.  The central bank sells securit

Insurance Regulatory and Development Authority of India (IRDAI)

Insurance Regulatory and Development Authority of India (IRDAI) IRDAI cuts minimum capital requirement for foreign reinsurance branches from Rs 100 crore to Rs 50 crores with the provision to repatriate any excess assigned capital. The move is intended to Increase the overall capacity of the reinsurance sector to accommodate growing demand and manage larger risks. broader goa

National Investment Infrastructure Fund (NIIF)

National Investment Infrastructure Fund (NIIF)     The NIIF was launched in 2015 as India’s first state-backed fund. JBIC will contribute 51 per cent of that figure and the rest will be contributed by India. for enhancing infrastructure financing by investing in greenfield (new), brownfield (existing) and stalled projects. The fund was set up as Category II

Purchasing Manager’s Index

Purchasing Manager’s Index   It is an index that reflects the prevailing direction of economic trends in the manufacturing and service sectors. It has a diffusion index that summarizes whether market conditions are expanding, staying the same, or contracting as viewed by purchasing managers. It is a monthly survey released by the Institute for Supply Manag

Short Selling

Short Selling     The Enforcement Directorate’s preliminary investigation has concluded that the “top beneficiaries” of short selling in shares of Adani Group companies, post release of the Hindenburg Research report and the subsequent market crash, are based in tax havens. Short sellers are investors who believe and bet that sh

Sugar industry in ethanol sourcing

Sugar industry in ethanol sourcing The Niti Aayog envisages requirement of 1,400 crore litres of ethanol to achieve 20% blending by 2025-2026.  Nearly 550 crore litres of ethanol have been produced and 450 crore litres of it came from the sugar industry and the remaining from maize and damaged grain, in 2022. Molasses, a byproduct of sugar processing, are currently being used for bi

Multilateral Development Banks (MDBs)

It is an international financial institution established by two or more countries for the purpose of encouraging economic development in poorer nations. It consists of member nations from both developed and developing countries. It intends to provide loans and grants to member nations to fund projects to support social and economic development in the areas of infrastructu

National Deep Tech Startup Policy

A.  Aims to bolster the growth of Startup ecosystem through optimal policy interventions access to funding strengthening Intellectual Property Regime (IPR) Sustaining Deep tech startups. Enabling shared infrastructure and resource sharing. B. The draft outlines four key pillars Securing India’s economic future. Knowledge-driven economy bolstering national c

Engel's law

Engel's law It states that, as income increases, the proportion of income spent on food decreases, even if absolute expenditure on food rises. As the economy grows with increases income in the hands of the people, this trend can be witnessed. This formed the basis for reduction in weightage of food in the CPI basket from 60.9 (1960) to 46.2 (2001).