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Black Swan Event

In News A study by the Reserve Bank of India (RBI) talked about the possibility of capital outflows of $100 billion from India in case of a major global risk scenario or a “black swan” event. What is a “black swan” Event? Unpredictable event:  A black swan is a rare, unpredictable event that comes as a surprise […]

Ban on Single-use Plastic

In News Recently, the Central Pollution Control Board (CPCB) has ordered a ban on the use of single-use plastic from July 1.   About the recent announcement of Central Pollution Control Board (CPCB) Ban: This includes the manufacture, import, stocking, distribution, sale and use of single-use plastic items that are identified as those having low utility […]

Surety Bonds

In News Recently, the Ministry for Road Transport & Highways (MORTH) has asked insurance regulator IRDAI to develop a model product on Surety Bonds in consultation with general insurers. Key Points Several challenging issues which made Surety Bond a complete non-starter with the insurers were discussed and it was proposed to IRDAI that it should […]

Five states need to take steps to stabilise debt levels: RBI

In News The recent RBI study stated that a few of the Indian states are stressed with high debt-GSDP ratios. The study revolves around ten states – Punjab, Rajasthan, Kerala, West Bengal, Bihar, Andhra Pradesh, Jharkhand, Madhya Pradesh, Uttar Pradesh and Haryana. More about the study Debt-GSDP ratio: Based on the debt-GSDP ratio in 2020-21, […]

Revamping of Banks Board Bureau

In Context The Ministry of Finance is planning to bring more representatives from the insurance sector into the Banks Board Bureau (BBB), in a bid to expand and relaunch the body. Objectives and need behind the move  The move to revamp BBB comes after a Delhi High Court bench in 2021 pushed the same, saying […]

12th Ministerial Conference of the World Trade Organization

In News Recently, the World Trade Organization’s 12th Ministerial Conference was held in Geneva, Switzerland. Major Outcomes of  12th Ministerial Conference Meeting Curtailing harmful fishing subsidies: The WTO passed a multilateral agreement that would curb ‘harmful’ subsidies on illegal, unreported and unregulated fishing for the next four years, to better protect global fish stocks.  There […]

Pragati Maidan Integrated Transit Corridor project

In News Recently, the PM of India inaugurated over ?920 crore Pragati Maidan Integrated Transit Corridor Project.  About Pragati Maidan Integrated Transit Corridor project It comprises a 1.3-km-long tunnel and five underpasses and was built over four years. The tunnel is equipped with the latest technologies such as a digital control room with the facility […]

World Day to Combat Desertification and Drought

In News World Day to Combat Desertification and Drought is marked every year on 17 June to turn degraded land into healthy or fertile soil to combat desertification. About The theme of 2022 Desertification and Drought Day “Rising up from drought together”. The Ministry of Environment and Forests (MoEF)  commemorated the day by showcasing presentations […]

Critical Information Infrastructure (CII)

In News Recently, the Union Ministry of Electronics and IT (MeitY) has declared IT resources of ICICI Bank, HDFC Bank and UPI managing entity NPCI as ‘critical information infrastructure (CII)’. Critical Information Infrastructure (CII) Definition:  The Information Technology Act of 2000 defines “Critical Information Infrastructure” as a “computer resource, the incapacitation or destruction of which […]

Impact of COVID-19 worsened matters in Sundarbans: UN ReportI

In News Recently, the United Nations Office for Disaster Risk Reduction study stated that the COVID-19 worsened matters in Sundarbans. About the report Title: “Understanding and managing cascading and systemic risks: lessons from COVID-19” Publisher: United Nations Office for Disaster Risk Reduction Coverage: Indian Sundarbans Bangladesh’s Cox’s Bazar Indonesia Guayaquil, Ecuador Togo Outcome: the pandemic […]

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