✅Gs-3 : Money laundering- PMLA amendment
🅾️Context : Click here
➡️Impact- From this article
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🅾️Context : Click here
➡️Impact- From this article
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✅Gs-3 : Economic growth- Mobilization of resources- Banking- SVB collapse
🅾️India has raised a number of issues with credit rating agencies (CRAs) over the years- They give higher ratings to foreign companies than to Indian companies, even when the Indian companies have stronger financials
⚜️ There have been instances where CRAs have downgraded Indian companies without providing sufficient justification or explanation for their actions.
⚠️IFSC, GIFT City – a ready solution-has many private and public sector banks as well as several global MNC banks, which have been in operation for a long time now. The core objective, as envisaged for IFSC in India, was to be a place of substance, rather than a mere tax haven. Accordingly, the regulator, i.e. (“IFSCA”), mandates that necessary personnel have requisite qualifications to be staffed by the IFSC Banking Units - has experience - can help indian startups
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🅾️India has raised a number of issues with credit rating agencies (CRAs) over the years- They give higher ratings to foreign companies than to Indian companies, even when the Indian companies have stronger financials
⚜️ There have been instances where CRAs have downgraded Indian companies without providing sufficient justification or explanation for their actions.
⚠️IFSC, GIFT City – a ready solution-has many private and public sector banks as well as several global MNC banks, which have been in operation for a long time now. The core objective, as envisaged for IFSC in India, was to be a place of substance, rather than a mere tax haven. Accordingly, the regulator, i.e. (“IFSCA”), mandates that necessary personnel have requisite qualifications to be staffed by the IFSC Banking Units - has experience - can help indian startups
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image_2023-03-22_09-23-47.png
2.3 MB
✅GS3- Mobilization of resources- Banking privatization vs Recapitalization
✅GS3- Banking -Role of RBI : Click here
🅾️If we observe the nature of bank failures, you will see how RBI's stringent norms prevent the collapse of 'Too big to fail' banks ( Click here to read more about them)- Now compare that with the ongoing collapse of western banks
🔺You can use this as an example for what our PM advocated during 15th Aug speech- Panch pran- getting rid of colonial mentality - example
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✅GS3- Banking -Role of RBI : Click here
🅾️If we observe the nature of bank failures, you will see how RBI's stringent norms prevent the collapse of 'Too big to fail' banks ( Click here to read more about them)- Now compare that with the ongoing collapse of western banks
🔺You can use this as an example for what our PM advocated during 15th Aug speech- Panch pran- getting rid of colonial mentality - example
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Forwarded from VK IAS- prelims (UPSC highlights)
#Economy
✅The Multi-Fibre Arrangement (MFA)
🅾️What?- It was an international trade agreement that existed from 1974 to 2004.
🅾️Purpose : Allowed developed countries to impose quotas on the import of textiles and clothing from developing countries. The purpose of the MFA was to protect the domestic textile and apparel industry of developed countries and to promote the growth of the textile and apparel industry in developing countries.
🅾️What happened after WTO?- The MFA was replaced by the Agreement on Textiles and Clothing (ATC) in 1995, which aimed to gradually eliminate textile and apparel quotas among World Trade Organization (WTO) member countries by January 1, 2005.The phasing out of the MFA had a significant impact on the Indian textile industry, as it had to adapt to increased competition in the global market.
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✅The Multi-Fibre Arrangement (MFA)
🅾️What?- It was an international trade agreement that existed from 1974 to 2004.
🅾️Purpose : Allowed developed countries to impose quotas on the import of textiles and clothing from developing countries. The purpose of the MFA was to protect the domestic textile and apparel industry of developed countries and to promote the growth of the textile and apparel industry in developing countries.
🅾️What happened after WTO?- The MFA was replaced by the Agreement on Textiles and Clothing (ATC) in 1995, which aimed to gradually eliminate textile and apparel quotas among World Trade Organization (WTO) member countries by January 1, 2005.The phasing out of the MFA had a significant impact on the Indian textile industry, as it had to adapt to increased competition in the global market.
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Key Highlights of FTP 2023 (Booklet).pdf
3.8 MB
✅Gs-3 : Economic growth- Foreign trade policy- exports
🅾️oreign Trade Policy 2023 focuses on shifting from an incentive to a tax remission-based regime, improving the ease of doing business, promoting exports through collaborations, and targeting emerging areas. It aims to achieve $2 trillion in export of goods and services by 2030, up from the previous $900 billion target.
🅾️Why is this important?- Because of India’s small share in global trade (around 1.8% in merchandise exports and roughly 4% in services)- There is significant room for improvement.
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🅾️oreign Trade Policy 2023 focuses on shifting from an incentive to a tax remission-based regime, improving the ease of doing business, promoting exports through collaborations, and targeting emerging areas. It aims to achieve $2 trillion in export of goods and services by 2030, up from the previous $900 billion target.
🅾️Why is this important?- Because of India’s small share in global trade (around 1.8% in merchandise exports and roughly 4% in services)- There is significant room for improvement.
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✅Gs-3 : Economic growth- E banking
🅾️NPCI circular- What transactions does the new interchange charge via UPI apply to? What are prepaid payment instruments and are they currently interoperable? Why did the RBI mandate
interoperability among different PPI issuers? How has this affected customers and merchants?
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🅾️NPCI circular- What transactions does the new interchange charge via UPI apply to? What are prepaid payment instruments and are they currently interoperable? Why did the RBI mandate
interoperability among different PPI issuers? How has this affected customers and merchants?
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Forwarded from VK IAS by Vikas kanukollu (VK)
✅Gs-3 : Economy- External sector- Rupee invoicing
🅾️Q) What are the benefits of Internationalization of Rupee?
➡️What are the challenges of making this happen?
⚜️1. Capital account convertibility- because it limits the ability of foreigners to invest and trade in Indian markets
⚜️2. Exchange rates- their volatility
⚜️3. Development of deep and liquid financial markets- Read this related article
⚜️4. Reducing regulatory cholesterol- to implement policies that support the growth of the financial sector
⚜️5. Lack of offshore INR trading centers and enough currency swap agreements with other countries
⚜️6. Inflation -low inflation rates can make a currency less attractive to foreign investors
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🅾️Q) What are the benefits of Internationalization of Rupee?
➡️What are the challenges of making this happen?
⚜️1. Capital account convertibility- because it limits the ability of foreigners to invest and trade in Indian markets
⚜️2. Exchange rates- their volatility
⚜️3. Development of deep and liquid financial markets- Read this related article
⚜️4. Reducing regulatory cholesterol- to implement policies that support the growth of the financial sector
⚜️5. Lack of offshore INR trading centers and enough currency swap agreements with other countries
⚜️6. Inflation -low inflation rates can make a currency less attractive to foreign investors
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Forwarded from VK IAS- prelims (UPSC highlights)
#Economy
✅National coal index (NCI)
🅾️This topic comes under Gs-3- Infra- Energy sector- Minerals- Coal reforms
🎖To properly understand this article without resorting to rote memory- read this - https://www.tg-me.com/hinduhighlights/11002
🅾️The NCI is an index of the weighted average price of different grades of coal, which is used as fuel for power generation and other industries in India. The NCI is compiled and published by the Coal Controller's Organization, Ministry of Coal, Government of India.
🅾️It tracks the prices of coal sold through various channels such as auctions, notified prices, and imports. The NCI is used as a benchmark to determine the price of coal for various customers such as power plants, industries, and traders.
⚠️NCI was introduced to address a limitation in the WPI - that the WPI for coal does not include prices of imported coal- The WPI for coal tracks the prices of coal produced and sold within India, but it does not include prices of imported coal. This is because imported coal is not considered a part of the domestic production and supply of coal. However, given that India is one of the largest importers of coal in the world, the exclusion of imported coal prices from the WPI for coal can be a limitation- NCI helps in showing the importance of increasing domestic coal production to reduce the exposure of the domestic economy to the price volatility of international markets.
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https://www.tg-me.com/+RJHzZ-IaF4wlGwjr- Prelims Quiz channel
✅National coal index (NCI)
🅾️This topic comes under Gs-3- Infra- Energy sector- Minerals- Coal reforms
🎖To properly understand this article without resorting to rote memory- read this - https://www.tg-me.com/hinduhighlights/11002
🅾️The NCI is an index of the weighted average price of different grades of coal, which is used as fuel for power generation and other industries in India. The NCI is compiled and published by the Coal Controller's Organization, Ministry of Coal, Government of India.
🅾️It tracks the prices of coal sold through various channels such as auctions, notified prices, and imports. The NCI is used as a benchmark to determine the price of coal for various customers such as power plants, industries, and traders.
⚠️NCI was introduced to address a limitation in the WPI - that the WPI for coal does not include prices of imported coal- The WPI for coal tracks the prices of coal produced and sold within India, but it does not include prices of imported coal. This is because imported coal is not considered a part of the domestic production and supply of coal. However, given that India is one of the largest importers of coal in the world, the exclusion of imported coal prices from the WPI for coal can be a limitation- NCI helps in showing the importance of increasing domestic coal production to reduce the exposure of the domestic economy to the price volatility of international markets.
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@upschighlights - Relevant hashtags for Prelims- Click here
https://www.tg-me.com/+RJHzZ-IaF4wlGwjr- Prelims Quiz channel
#Economy
✅Gs-3 : Economic growth- Monetary Policy committee decisions
🅾️Significance of Velocity of money - Explained in this crash course video- https://www.youtube.com/watch?v=DPg9qP1N26Q&list=PLQHWHNQUHjwPae6lSXMC9ley8ONQtd0Km&index=5
🅾️ Monetary policy is a tool used by central banks to manage the economy by controlling the money supply and interest rates. Monetary policy- Inflation and its relation to MPC
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✅Gs-3 : Economic growth- Monetary Policy committee decisions
🅾️Significance of Velocity of money - Explained in this crash course video- https://www.youtube.com/watch?v=DPg9qP1N26Q&list=PLQHWHNQUHjwPae6lSXMC9ley8ONQtd0Km&index=5
🅾️ Monetary policy is a tool used by central banks to manage the economy by controlling the money supply and interest rates. Monetary policy- Inflation and its relation to MPC
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✅Gs-3 : Poverty and unemployment
🅾️Also read -how to create jobs- Extent and facets of Urban unemployment- click here
➡️What is the central idea of this article- Emphasis on the real metric that makes a difference to the quality of life- Real wages- If you have no time- just read the highlights.
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🅾️Also read -how to create jobs- Extent and facets of Urban unemployment- click here
➡️What is the central idea of this article- Emphasis on the real metric that makes a difference to the quality of life- Real wages- If you have no time- just read the highlights.
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✅Gs-3 : Land Reforms- Critical analysis of ULPIN
🅾️ Unique Land Parcel Identification Number (ULPIN)-Once the digitisation process of land records and registration is complete, it will help mitigate the huge pendency of court cases involving land disputes. The GDP loss to the country’s economy is about 1.3 per cent due to projects being stalled over litigation involving land disputes. “Access to Justice Survey” by Daksh study says, 66 per cent of all civil suits in India are related to land or property disputes, and the average pendency of a land acquisition dispute is 20 years
🛑Watch this video to understand the context- entire topic covered in 20 minutes : https://youtu.be/WKsojxHdXkk
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🅾️ Unique Land Parcel Identification Number (ULPIN)-Once the digitisation process of land records and registration is complete, it will help mitigate the huge pendency of court cases involving land disputes. The GDP loss to the country’s economy is about 1.3 per cent due to projects being stalled over litigation involving land disputes. “Access to Justice Survey” by Daksh study says, 66 per cent of all civil suits in India are related to land or property disputes, and the average pendency of a land acquisition dispute is 20 years
🛑Watch this video to understand the context- entire topic covered in 20 minutes : https://youtu.be/WKsojxHdXkk
➡️Follow @economyhighlights for Economy articles.
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Forwarded from VK IAS by Vikas kanukollu (VK)
🎖Prelims Quiz channel - Unmute the channel and solve this imp conceptual questions
⚠️-> Expecting a question on the cyber security basics asked in this question-
please solve- https://www.tg-me.com/Quizhighlights/442
⚠️-> Expecting a question on the cyber security basics asked in this question-
please solve- https://www.tg-me.com/Quizhighlights/442
Forwarded from VK IAS by Vikas kanukollu (VK)
✅Gs-3 : Economic growth- External sector
🅾️How should the Indian economy tread in times of this age of globalisation and geo political shocks of deglobalisation and black swan events- Link this news to the fact that India is trying to position itself as a dominant player in global value chains
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🅾️How should the Indian economy tread in times of this age of globalisation and geo political shocks of deglobalisation and black swan events- Link this news to the fact that India is trying to position itself as a dominant player in global value chains
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#Economy
✅Financial stability report
🅾️According to the Reserve Bank of India’s latest financial stability report, gross non-performing loans (GNPAs) of the banking system have declined from 7.4 per cent in March 2021 to a six-year low of 5.9 per cent in March 2022
🅾️While public sector banks continue to be more stressed than private banks — for the former, bad loans stood at 7.6 per cent of advances, while for the latter, the figure is lower at 3.7 per cent — the improvement is broadbased. Alongside, banks have also witnessed an improvement in their capital position, with the capital to risk weighted assets ratio rising to 16.7 per cent at the end of March 2022
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✅Financial stability report
🅾️According to the Reserve Bank of India’s latest financial stability report, gross non-performing loans (GNPAs) of the banking system have declined from 7.4 per cent in March 2021 to a six-year low of 5.9 per cent in March 2022
🅾️While public sector banks continue to be more stressed than private banks — for the former, bad loans stood at 7.6 per cent of advances, while for the latter, the figure is lower at 3.7 per cent — the improvement is broadbased. Alongside, banks have also witnessed an improvement in their capital position, with the capital to risk weighted assets ratio rising to 16.7 per cent at the end of March 2022
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#Economy
✅Gs-3 : Economy- GST - Federalism
🅾️ Fiscal federalism - Financial accountability- Click here
✅Gs3- Economic growth/Infra- Power sector- Click here for a background
🅾️How to generate power cost effectively? - Read this article
⚠️What is the issue here?- Can states imposes cess or duty on electricity generation or not?- They can impose Taxes on the consumption or sale of electricity- this is given in 7th schedule - but not on generation- because ultimately , when this power is sold- it may be brought by residents who are not in that state- because power generated will be transmitted through the power grid. States dont have such taxation power.
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✅Gs-3 : Economy- GST - Federalism
🅾️ Fiscal federalism - Financial accountability- Click here
✅Gs3- Economic growth/Infra- Power sector- Click here for a background
🅾️How to generate power cost effectively? - Read this article
⚠️What is the issue here?- Can states imposes cess or duty on electricity generation or not?- They can impose Taxes on the consumption or sale of electricity- this is given in 7th schedule - but not on generation- because ultimately , when this power is sold- it may be brought by residents who are not in that state- because power generated will be transmitted through the power grid. States dont have such taxation power.
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Forwarded from VK IAS- prelims (UPSC highlights)
#Economy
✅National Electronic Toll Collection (NETC) system,
🅾️Also note : “NETC FASTag operates only for person-to-merchant (P2M) transactions. No person-to-person (P2P) transactions are facilitated through NETC FASTag network. This means an individual cannot receive the money in NETC FASTag ecosystem from fraudulent transactions. Only authorised system integrators (SI) on behalf of concessionaires are allowed to participate for specific plazas and initiate payment transactions
🅾️Every acquirer bank is provided with a unique acquire ID (AID). The combination of the plaza code and bank acquirer ID is mapped at the NPCI end. Geo-location of every merchant (plaza) has been stored at respective acquirer banks and NPCI
👆Other details- Read the info in the pictures.
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✅National Electronic Toll Collection (NETC) system,
🅾️Also note : “NETC FASTag operates only for person-to-merchant (P2M) transactions. No person-to-person (P2P) transactions are facilitated through NETC FASTag network. This means an individual cannot receive the money in NETC FASTag ecosystem from fraudulent transactions. Only authorised system integrators (SI) on behalf of concessionaires are allowed to participate for specific plazas and initiate payment transactions
🅾️Every acquirer bank is provided with a unique acquire ID (AID). The combination of the plaza code and bank acquirer ID is mapped at the NPCI end. Geo-location of every merchant (plaza) has been stored at respective acquirer banks and NPCI
👆Other details- Read the info in the pictures.
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Forwarded from VK IAS by Vikas kanukollu (VK)
🔶3.5 years ago, i started something with a motto- Dream big, start small- ACT NOW! Little did i realise that consistency can bring me close to so many people .. and touch so many lives..... 4 years... here is something that that i am unveiling to the world——
UPSC HIGHLIGHTS IS NOW
VK IAS 🙂
Need your support for this new beginning....
Welcome to the world of Vikas Kanukollu (VK) 🙂
COMING SOON- Prelims MOCK EXAM !
UPSC HIGHLIGHTS IS NOW
Need your support for this new beginning....
Welcome to the world of Vikas Kanukollu (VK) 🙂
Forwarded from VK IAS by Vikas kanukollu (VK)
✅Thank you so much Sir for the unconditional support you have extended till now :) Means a lot coming from an IPS officer and a mentor for 1000s
🔰I am not someone who takes compliments gracefully- So i avoid posting appreciative feedback😅 But when we get unprecedented support like this, it should be acknowledged publicly, because It gives hope.
🔰Life has not been easy - A decade ago- when I wanted to be a writer- ( If you are interested you can read one of my short story - click here😁 ) there were many naysayers- over this 10 years there were multiple failures, mistakes, heartbreaks- Life felt cruel - today- the same writing gave me this hope- So if this can help anyone reading this.... THERE IS HOPE, if we can make the stones hurled at us into milestones- To Every single soul who found value in my work and inspired me to push myself, A BIG THANK YOU- This is a new beginning🙏
🔰Will strive to maintain this work ethic and will continue to learn from my mistakes 🙂
Gratitude forever
VK
🔰I am not someone who takes compliments gracefully- So i avoid posting appreciative feedback😅 But when we get unprecedented support like this, it should be acknowledged publicly, because It gives hope.
🔰Life has not been easy - A decade ago- when I wanted to be a writer- ( If you are interested you can read one of my short story - click here😁 ) there were many naysayers- over this 10 years there were multiple failures, mistakes, heartbreaks- Life felt cruel - today- the same writing gave me this hope- So if this can help anyone reading this.... THERE IS HOPE, if we can make the stones hurled at us into milestones- To Every single soul who found value in my work and inspired me to push myself, A BIG THANK YOU- This is a new beginning🙏
🔰Will strive to maintain this work ethic and will continue to learn from my mistakes 🙂
Gratitude forever
VK