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Jan 21 st, 2016
Misc CANo Comments

15 Economy Related Short-Hand Notes (2 Mins) Revision – Current Affairs Sept – Coming Exams – Part II

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• RBI crisis fund > fallen to 8.4% against a target of 12% > no transfer in contingency fund or asset development fund > past two years > 99.9% profit of RBI went to centre

• Mhd. Yunus > Nobel Laureate > proposed independent banks for poor in India > as a large section of them remain cut-off from banking services

• SGBS and GMS > will bring into market 20000 tones of idle gold > GMS- 15 yrs > SGBS – 5 , 10, 50, 100 gms for 5 years

• Technology upgrade > electronic and aadhaar based ITR verification > new initiative by IT dept > fast process and refund to bank accounts within 7-10 days

• India > 3rd largest producer of pharmaceutical drugs > every 3rd on globe is of made in India brand

• Gujarat > 1st rank > World bank’s rank of ease of doing business in India > reason – e-payments – quick construction permits & environmental clearances

• Centre > 20% safeguard duty > select steel products > to protect domestic producers > reason: surge in inward shipment > WTO compatible temporary measure > to avert any damage to domestic market

• Trade related stats of India for August 2014 and 2015 shows that trade deficit been widened, viz.
– Export decreased by 20.66%
– Import decreased by 10%
– Oil imports decreased by 42.6%
– Non-Oil imports increased by 7%”

• SEBI > nationwide investor survey > to understand investment habits of individuals and households

• To facilitate FDI in country > govt. permitted investments through paid shares and warrants

• RBI > allowed 10 companies to set up small finance banks > 18 months to comply with requirements

• USFR > low interest rates > leading to weak economy, low inflation and instable financial markets > slowdown in China another fear > low oil prices and high priced dollar > keep inflation undesirably low

• Small finance banks > focus on small borrowers >target to create one million jobs per month

• RBI > ready for Fed rate hike > because of strong fundamentals

• Federation of Association of Maharashtra > opposed 10% safeguard duty on hot-rolled imports > opinion that it will kill small steel businesses > international prices are low, hence helping them to pay their service debt

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