Source: LM Subject: Economics Context: RBI’s latest “Trend and Progress of Banking in India” report flags a resilient banking system with multi-decadal low NPAs, strong balance-sheet expansion and policy push for safer, more inclusive finance. About Trend and Progress of Banking in India 2024-25 Report: What it is? An annual RBI flagship assessment of banking …
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Syllabus: Multilateral Institution Source: TH Context: At the 16th BRICS Summit in Kazan (2024), member nations unveiled the BRICS Cross-Border Payments Initiative — “BRICS Pay”, signalling an intent to reduce dependence on the U.S.-controlled SWIFT system. About BRICS is Challenging SWIFT: Building a Multipolar Financial Architecture Context and Background: Western dominance in global finance: For …
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Topic: Inclusive growth and issues arising from it Q5. UPI has redefined the architecture of retail payments in India. Assess how UPI has altered household expenditure patterns and its role in accelerating economic formalisation. Evaluate the macroeconomic risks of over-dependence on digital payment infrastructure. (15 M) Difficulty Level: Medium Reference: IE Why the question The …
Topic: Challenges to internal security through communication networks. Q6. The rise of AI-generated financial frauds challenges the resilience of India’s digital payment ecosystem. Assess the scale of the challenge. Suggest mechanisms for balancing innovation with security. (10 M) Difficulty Level: Medium Reference: NIE Why the question AI-generated frauds are rising alongside India’s digital payment surge, …
UPSC CURRENT AFFAIRS – 2 December 2024 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. …
Syllabus: Economy Source: PIB Context: Launched in 2016 by NPCI, India’s UPI has revolutionized digital payments, achieving record usage in October 2024 and showcasing India’s digital financial leadership. UPI and Its Unique Features: Round-the-Clock Transactions: Operates 24/7, including holidays, for seamless fund transfers. Single Interface: Integrates multiple bank accounts in one mobile application. Secure Authentication: …
GS Paper 2 Syllabus: Welfare Schemes for Vulnerable Sections Source: LM Context: It is challenging to achieve financial inclusion (FI) for women until they actively participate in the formal financial industry. What is FI? The process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such …
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 ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
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Context: In the Budget presented for 2022-23, Finance Minister had announced the introduction of India’s Central Bank Digital Currency (CBDC) and that the digital rupee would give a ‘big boost’ to digital economy. Finance Minister had indicated that technologies such as blockchain would be used by the Reserve Bank of India to issue the …
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Introduction: Digital payments have found strong ground, especially in India, increasingly relegating all other modes of payments to the background. It is through a faster system of simultaneous debits and credits that the money value is transferred from one account to the other across banks. It embraces all kinds of operators (including direct benefit transfer …
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