Indian Economy

Islamic Banking and the recent RBI’s decision: All you need to know

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Islamic Banking is banking that complies with the Islamic law. According to the Islamic/ Sharia law: Interest is prohibited. Investment in business that deals with goods and services considered ‘haram’ is prohibited. Example: pork, alcohol, gambling, pornography etc. Gambling or speculation has to be minimised. Hence, it rules out investment in derivatives, options and futures …

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Does India actually need a Bullet train?

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[This post was written by Piyush Goyal, the Minister of Railways and Coal on Quora. You can read the answer here] India is a rapidly developing economy with numerous developmental needs. A major component of India’s developmental plan is the upgradation of current rail networks as well as the development of new high-speed rail corridors popularly …

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Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana – Explained

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The Credit Linked Subsidy Scheme (CLSS) was launched by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) in June 2015. The purpose of the scheme is to provide interest subsidy on housing loans. This scheme was launched under Pradhan Mantri Awas Yojana (Urban). Updated on 15/05/2020: The deadline for CLSS for the middle-income group expired …

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What is Bharatmala project ?

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The Bharatmala project is the second largest highways construction project in India since the National Highways Development Programme (NHDP). The National Highways Development Programme (NHDP) was launched by the Atal Bihari Vajpayee Government in the year 1998. Under NHDP, almost 50,000 km of highway roads were targeted across the country.  About 10,000 km of roads under the programme is …

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Derivatives meaning – Forward, Futures, Option & Swap Explained

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Derivatives meaning A derivative is a financial instrument that derives its value/ price from the value of another asset, known as an underlying asset. The common underlying assets are stocks, bonds, commodities, currencies, interest rates, etc. The basic types of derivatives are forward, futures, options,  and swap. Forward A forward contract is a contract between …

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Applications of the Blockchain technology in India

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The blockchain is the technology behind bitcoins. Though, people are divided on the opinion about the future of bitcoin, the technology behind it can have applications in many areas and have profound implications for commerce. Blockchain can be used to record and verify transactions, ownership etc without the involvement of any intermediary. (Read: Bitcoin & Blockchain- What …

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