UPI QR Code-Central Bank Digital Currency interoperability

Facts for Prelims (FFP)   Source: IE  Context: Several Indian banks, have initiated interoperability between the Unified Payments Interface’s (UPI) Quick Response (QR) codes and their central bank digital currency (CBDC) or e₹ applications. This integration allows users of the retail digital rupee to perform transactions by scanning any UPI QR code at a merchant …

[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 17 January 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

MFIs to play a leading role in India’s economic growth: Study

GS Paper 3 Syllabus: Financial Inclusion   Source: Economic Times Context: As per the study conducted by PricewaterhouseCoopers (PwC) and the Association of Microfinance Institutions of India, Microfinance institutions (MFI), will play a leading role in the growth process of India.   What are MFIs? Microfinance institutions (MFIs) are financial companies that provide small loans to …

Digital lending: No clarity say bank and fintech

GS Paper 3 Syllabus: Indian Economy and related issues   Source: IE  Direction: The article discusses the current digital lending ecosystem, the need to regulate it, RBI guidelines and confusion regarding it.  Context: Two months after the RBI issued guidelines on digital lending, Banks, non-banking financial companies (NBFCs) and fintech players are still awaiting clarity …

Insolvency and Bankruptcy Board of India Regulations, 2016 and Insolvency and Bankruptcy Board of India Regulations, 2017 Amendments:

GS Paper 3 Syllabus: Indian economy and issues related to planning, mobilization of resources development and growth, banking reforms etc   Directions: The amendments are highly technical in nature. No need to note or remember. Go through it once. Understand the basics of IBC. Know the difference between basic terms such as liquidation, bankruptcy etc. …

Explained: How should public sector banks be privatized?

GS Paper 3 Syllabus: Banking   Source: Indian Express Direction: This is an editorial explained article. We had already discussed this issue in detail in last month’s article.  This article will add only unique points left out. Just note a few important points on nationalization (not every point should be noted down) Context: In the …

Bank nationalisation: Blunder or masterstroke?

GS Paper 3 Syllabus: Effects of liberalisation on the economy (post-1991 changes)   Source: Indian Express Context: 53rd anniversary of Prime Minister Indira Gandhi nationalising 14 banks. The government will bring legislative changes in the current session of Parliament to enable it to privatise PSBs (denationalization of Banks). This article should be ready solely from …

Bad bank:

GS Paper 3: Topics Covered: Inclusive growth and issues arising from it.   Context: A key proposal announced in this year’s (2021) Budget, a bad bank to deal with stressed assets in the loss-laden banking system, has received all regulatory approvals.   What is NARCL? Setting up of NARCL, the proposed bad bank for taking …

‘Bad bank’ setup and guarantee programme announced by Government to clear the NPA mess:

GS Paper 3 Topics Covered: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Context: The government has set up two new entities to acquire stressed assets from banks and then sell them in the market.   Mechanism envisioned: The “National Asset Reconstruction Company Limited” (NARCL) has already been incorporated …