News In Shorts (Economy)

Question 1

Q. What are some key facts about the Financial Stability Board (FSB) ?

Answer 1

Ans : * established in 2009 under the aegis of G20.
* Comprises central banks, finance ministries Nd supervisory authorities from G20 countries .

Question 2

Q. What are some key facts about OECD ?

Answer 2

Ans : * International organisation which superseded the OEEC in 1961.
* OEEC was established in 1948 to help administer the Marshall Plan for European reconstruction.
* Motto - “better policies for better lives”.
* India is not a member but a key partner .
* Flagship indices - international migration outlook, OECD better life index.

Question 3

Q. What are some key facts about “Global survey on digital and sustainable trade facilitation” ?

Answer 3

Ans * release by UNESCAP.
* Bi-annual survey that deals with trade facilitation measures taken by individual countries .
* India’s score increased to 93.55% in 2023 from 90.32% in 2021.

Question 4

Q. Who releases ‘A world of debt’ report ?

Answer 4

Ans : UNCTAD

Question 5

Q. What are some key facts about Mahila Samman Savings Certificate?

Answer 5

Ans: * to provide financial security to young girls and women in India enabling financial inclusion and empowerment.
* Key features :
- small savings scheme
- available for subscription in post offices and scheduled banks.
- maturity date is 2 years .

Question 6

Q. What are some steps taken to solve the twin balance sheet problem ?

Answer 6

Ans : 1. 4R Strategy : recognising the problem of NPA, recapitalizing banks, resolving their problems, reforming them.
2. Insolvency and bankruptcy code, 2016.
3. Central repository of information on large credits (CRILC) : to enable banks to share information on large loans .
4. National asset reconstruction company (NARCL) : to handle bad debt.

Question 7

Q. What are some key facts about centralised information management system (CIMS) ?

Answer 7

Ans: * introduced by RBI.
* platform for data mining, text mining and statistical analysis.
* Will improve monetary policymaking .
* Will disseminate mode data for public use and support online statistical analysis by external users.

Question 8

Q. What are some key facts about “Project Wave” ?

Answer 8

Ans : * Indian Bank has unveiled new services under its digital transformation initiative.
* In collaboration with national e-governance services Ltd.

Question 9

Q. Which institution releases “Export Preparedness Index (EPI)” ?

Answer 9

Ans : * NITI Aayog
* Challenges identified : absence of air connectivity in several regions, lower performance in R&D, lack of capacity-building workshops for exporters, absence of reliable statistics.
* Recommendations:
1. Location-specific strategies to boast exports .
2. Diversification of export markets ( such as based on GI products) and leveraging foreign markets using FTAs.
3. Identifying high-growth sectors such as IT, pharmaceuticals, automotive, textiles, and renewable energy.
4. Improvement in data availability.