Context: The Real Effective Exchange Rate (REER) of the rupee moderated in December to 107.20 after hitting a peak of 108.14 in November, latest data released by the Reserve Bank of India (RBI) showed. The REER was 103.66 in January 2024. Real Effective Exchange Rate (REER): Background and Formula The Real Effective Exchange Rate (REER) is the value of a country’s currency relative to a basket of other currencies, adjusted for inflation. A country’s REER can be indicative of such factors about the country’s outward position and macroeconomic condition. How REER is Calculated What REER is Used For Determinants of REER Source: Business Standard
Credit Costs (CCs)
Context: Private sector banks that announced their earnings for the October-December quarter (Q3) of 2024-25 (FY25) reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans. Credit Costs Credit costs are the sum of the sum that a lender demands from the borrower as repayment, over and above the amount taken. They comprise interest, fees, and other charges related to a credit agreement. What Constitutes Credit Costs? How to Calculate Credit Costs Source: Business Standard
Business Correspondents (BCs)
Context: The Department of Financial Services (DFS) has called a meeting of the monitoring committee on the functioning of business correspondents (BCs) Business Correspondent (BC) A Business Correspondent (BC) is a representative of the bank, who offers banking services to people in the unorganized sectors. BCs are an important constituent of financial inclusion, which means making banking accessible to everyone. Key Agenda Items: Scrutiny of C. S. Setty Report (December 2022) Issues in Business Correspondent (BC) Capacity-Building and Governance Source: Business Standard
Seaweed Farming in India
Seaweed farming in India is an inexpensive and less laborious activity that may help coastal communities find an alternate source of income. Seaweed is high in vitamins and minerals and finds applications in food, cosmetics, and fertilizers. How is seaweed farmed in India? What varieties of seaweeds are cultured in India? Where are the seaweeds cultivated in India? Growing Demand and Cultivation Global Advancement in Seaweed Production Indian Seaweed Sector: Current Situation Research and Facilitation Challenges in Seaweed Industry State Initiatives Pradhan Mantri Matsya Sampada Yojana (PMMSY) PMMSY, introduced as part of the ‘Atma Nirbhar Bharat’ package, aims to develop the sustainable and responsible fisheries sector in India. The scheme is implemented in all States and Union Territories for five years from FY 2020-21 to FY 2024-25.
National Policy Framework on Agricultural Marketing (NPFAM)
National Policy Framework on Agricultural Marketing (NPFAM)
Ayushman Bharat Digital Health Account (ABHA)
Context: The National Health Authority (NHA) has asked the National Medical Commission (NMC) to direct all medical colleges and government and private hospitals to register all patients for an Ayushman Bharat Digital Health Account (ABHAID). Ayushman Bharat Digital Health Account (ABHA) Ayushman Bharat Digital Health Account is a 14-digit number, which allows the people to safely store and share their health records. It’s part of the Ayushman Bharat Digital Mission (ABDM), a government initiative to improve India’s digital healthcare infrastructure. Ayushman Bharat – Pradhan Mantri Jan Aarogya Yojana (AB-PMJAY)
Beti Bachao, Beti Padhao (BBBP) Scheme
It was launched in January 2015 with the aim to address sex selective abortion and the declining child sex ratio which was at 918 girls for every 1,000 boys in 2011. Other Initiatives for Girl Children Beti Bachao Beti Padhao Scheme Achievements
Initiatives by TRAI Against Spam
Blockchain in Anti-Spam Measure Efficacy of Measures Other Government Initiatives The Telecom Regulatory Authority of India (TRAI) The Telecom Regulatory Authority of India (TRAI) is a regulatory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. It is the regulator of the telecommunications sector in India. It consists of a chairperson and not more than two full-time members and not more than two part-time members. The TRAI Act was amended by an ordinance, effective from 24 January 2000, establishing a Telecom Disputes Settlement and Appellate Tribunal to take over the adjudicatory and disputes functions from TRAI.
Insolvency and Bankruptcy Code (IBC)
Context: The Insolvency and Bankruptcy Code, 2016 (IBC) is a significant economic reform in India aimed at structured insolvency resolution. Initially seen as a tool to help India’s business standing, the law has evolved, addressing issues related to institutional capacity and procedural efficiency. The recent Supreme Court of India judgment in Jet Airways has highlighted structural issues in India’s insolvency regime. The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016, is a legislation that pertains to the Indian insolvency resolution of individuals, partnership firms, and corporations. It was enacted in the year 2016 and has been called as the exit law of India. Issue and Drawbacks Too much of work burden for over-stretched NCLT and NCLAT to tackle matters both under IBC as well as Companies Act. Proposed Reforms Sources: The Hindu
Jallikattu (Sallikkattu)
Context: A total of 83 people were injured in the jallikattu organised at Mukkanipatti village in Pudukottai district and Pallapatti village in Tiruchi district. Jallikattu (Sallikkattu) Jallikattu (or Sallikkattu), also known as Eru Taḻuvuṭal and Manju-virattu is an Indian event where a zebu bull is released into a crowd, and people try to grab the large hump on the bull’s back while it tries to escape. It is mostly practiced in southern Tamil Nadu during Pongal celebrations on Mattu Pongal day. Animal rights organizations have called for a ban on the sport due to incidents of injury and death. It was banned several times by the Supreme Court of India but a fresh ordinance was issued in 2017 to make it continue its sporting activities.
