The Union Cabinet, chaired by PM Modi, approved an ordinance on June 24 to bring urban co-operative banks and multi-state co-operative banks, under the direct supervision of the Reserve Bank of India (RBI). It brings 1,540 cooperative banks (1482 urban cooperative banks & 58 multi-state cooperative banks) under the central bank’s supervision. This step has …
Explained: Co-operative Banks under RBI’s supervision now Read More »
The US President Donald Trump has decided to extend the ban on issuing of H-1B and other work permit visas like H-2B and certain categories of H-4, J-1, and L-1 visas until the end of 2020. The US had banned the entry of foreign workers in the country in the last week of April for …
US bans H1B, L1 visas till Dec 2020- what it means for India? Read More »
The recent border skirmish between India and China in the Ladakh border has led to calls for a boycott of goods from China. According to a snap poll conducted by CVoter, as many as 93 % of Indians are in favor of boycotting all Chinese goods. At the same time, China’s smartphone maker OnePlus saw its latest …
Why a complete boycott of Chinese goods is impractical? Read More »
We are familiar with the trade war between the US and China. But, of late, the plummeting relationship between China and Australia has also garnered significant attention. [You may also read: The trade war between the US and China- Explained] Since 2009, the economic and cultural relationship between China and Australia has grown considerably, so …
China and Australia’s relationship has reached new lows Read More »
Petrol and diesel prices have been rising sharply in the past few days Prices of Petrol and Diesel were hiked for the 10th consecutive day since 7th June. In the last 10 days, petrol and diesel prices have increased by ₹5.47 and ₹5.8 respectively. As of 16 June 2020, petrol in Delhi costs ₹76.73/litre while …
Why are petrol & diesel prices rising despite falling crude oil prices? Read More »
India’s foreign exchange (FOREX) reserves rose to $501.70 billion in the week ended June 5. It rose by $8.2 billion in the week to surpass the $500 billion mark for the first time in India’s history. This is also the biggest weekly jump in reserves since September 2007. These reserves are enough to provide import …
Why are FOREX reserves rising despite economic slowdown? Read More »
Foreign direct investment (FDI) in India grew by 14% to a record of $ 49.8 billion in the 2019-20 financial year, according to data by the Department for Promotion of Industry and Internal Trade (DPIIT). Total FDI, (which includes equity capital of unincorporated bodies, reinvested earnings and other capital) rose by 18 % to $73.4 …
FDI in India rises 14 % in 2019-20 to $49.8 bn- Decoded Read More »