Wholesale Price Index (WPI)

Facts for Prelims (FFP)   Source: Business Line    Context: Recently, India’s Wholesale Price Index (WPI)-based inflation surged to a 13-month high of 1.26%, up from 0.5%, driven primarily by increases in food and fuel prices. Economists noted that this spike was influenced by seasonal factors and base effects. Food inflation, specifically, hit an eight-month …

Marrakesh Agreement

Facts for Prelims (FFP)   Source: WTO  Context: The World Trade Organization (WTO) commemorates the 30th anniversary of the Marrakesh Agreement, a milestone in global trade cooperation   About Marrakesh Agreement: The Marrakesh Agreement, also known as the Agreement Establishing the World Trade Organization (WTO), was signed on April 15, 1994, in Marrakesh, Morocco by …

Corporate Sustainability Due Diligence Law

Facts for Prelims (FFP)   Source: Forbes    Context: The European Parliament gave its approval for the Corporate Sustainability Due Diligence Directive (CSDDD), a significant step toward its formal adoption by the European Union. The CSDDD introduces a legal liability for companies regarding environmental and human rights violations within their supply chains. It applies not …

Payments Aggregator

Facts for Prelims (FFP)   Source: TH  Context: PayU, a digital financial services provider, has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA) under the Payment Settlements Act, 2007. With this approval, PayU can onboard new merchants on its platform.  

Compulsory convertible debentures

Facts for Prelims (FFP)   Source: Economic Times  Context: The Competition Commission of India (CCI) has approved the International Finance Corporation’s (IFC) subscription to Compulsory Convertible Debentures (CCDs) of Napino Auto and Electronics Limited (Napino). IFC, established in 1956, aims to promote economic growth in developing countries by fostering private sector development.  

FDI in the space sector

Facts for Prelims (FFP)   Source: Economic Times    Context: The Ministry of Finance has notified Foreign Direct Investment (FDI) regulations in the space sector under the Foreign Exchange Management Rules, allowing Indian space start-ups to access global capital. 74% FDI for satellite manufacturing, up to 49% for launch vehicles, and up to 100% for …

Shrinkflation

Facts for Prelims (FFP)   Source: Financial Express   Context: Shrinkflation, the reduction in product sizes while maintaining prices, is resurfacing in the fast-moving consumer goods (FMCG) industry due to rising input costs. Brands like Clear, Frooti, and Smoodh are introducing smaller packaging at the same or slightly reduced prices to cope with inflation. The …

Financial Services Institutions Bureau (FSIB)

Facts for Prelims (FFP)   Source: Economic Times   Context: The Financial Services Institutions Bureau (FSIB) has recommended Manoj Mittal, currently the Managing Director of IFCI, as the new Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI). Additionally, Sanjay Shukla has been selected as the Managing Director of the National …

CDP-SURAKSHA

Facts for Prelims (FFP)   Source: IE   Context: The CDP-SURAKSHA is a digital platform was launched recently to disburse subsidies to horticulture farmers under the Cluster Development Programme (CDP). It aims to promote the growth of India’s horticulture sector by facilitating instant subsidy disbursal to farmers’ bank accounts using e-RUPI vouchers. The platform integrates …

Peace clause in WTO

Facts for Prelims (FFP)   Source: Business Standard  Context: India has invoked the peace clause at the WTO for the fifth consecutive time for the marketing year 2022-23, as it breached the prescribed subsidy limit for rice. Despite breaching the 10% domestic support ceiling, there are no immediate repercussions due to the peace clause, which …

Bilateral investment treaty

Facts for Prelims (FFP)   Source: Business Standard  Context: The Prime Minister’s Office (PMO) has directed the commerce ministry to review the model text of bilateral investment treaties (BITs) and propose enhancements to facilitate business operations. This move is prompted by India’s previous losses in international arbitration cases against companies like Vodafone and Cairn Energy …

Credit-deposit ratio

Facts for Prelims (FFP)   Source: Live Mint  Context: Banks in India are facing challenges in attracting deposits during the financial year 2023-24. According to data from the RBI, the credit-deposit ratio, indicating the proportion of a bank’s deposit base used for loans, has reached its highest level in at least 20 years due to …

Paira cropping system

Facts for Prelims (FFP)   Source: DTE  Context: Odisha is promoting climate-resilient agriculture through its rice fallow initiative, capitalizing on residual moisture after rice harvest to cultivate short-duration pulses and oilseed crops. This initiative aims to boost land productivity, increase farmers’ income, and ensure food security. The scheme, focuses on optimal resource utilization, increasing cropping …

India’s coal and lignite production

Facts for Prelims (FFP)   Source: Economic Times    Context: India’s coal and lignite production reached an unprecedented milestone, surpassing 1 billion tonnes in the fiscal year 2023-24, compared to 937 million tonnes in the previous fiscal. India aims to eliminate coal imports by 2025-26, with coal imports for blending purposes notably decreasing in FY24 …

RBI@90

Facts for Prelims (FFP)   Source: PIB    Context: The Prime Minister addressed the opening ceremony of RBI@90 in Mumbai, marking 90 years of the Reserve Bank of India (RBI).   Brief History of RBI: Royal Commission on Indian Currency, 1926 (Hilton Young Commission) recommended the establishment of the RBI, a suggestion reiterated by the …