UPSC Daily Important Topic

Primary Agriculture Credit Societies (PACS) 1) PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by RBI. PACS are regulated by State Government and the Registrar of Co-operative Societies appointed by the State. 2) A PACS is organized at the grass roots level of a village or a group

What is so unique about MGNREGA? ✓MGNREGA is unique in not only ensuring at least 100 days of employment to the willing unskilled workers, but also in ensuring an enforceable commitment on the implementing machinery i.e., the State Governments, and providing a bargaining power to the labourers. ✓The failure of provision for employment within 15

Shrinkflation Shrinkflation is the practice of reducing the size of a product while the price of the product remains the same. So, this effectively increases the price per amount or per unit or per kg. For example, recently ‘Parle G’ Biscuits size (quantity) was reduced slightly retaining the same price of Rs. 5. Raising the

Fiscal Dominance Fiscal dominance occurs when central banks use their monetary powers to support the prices of government securities and to keep interest rates at low levels to reduce the costs of servicing sovereign/government debt. Fiscal dominance implies that Fiscal considerations limit the scope for an independent and prudent monetary policy. The have posted the

RMS: Rabi Marketing Season RMS 2022-23 starts from 1st April 2022 and goes on till mid June. This marketing is of the crops grown in Rabi 2021-22. Kharif Marketing Season starts from 1st Oct and goes till Dec. Here Marketing actually means procurement by FCI. Procurement of Wheat by FCI has declined in RMS 2022-23.

IMF Members Any other state, whether or not a member of the UN, may become a member of the IMF in accordance with IMF Articles of Agreement and terms prescribed by the Board of Governors. ✓Membership in the IMF is a prerequisite to membership in the IBRD. ✓Pay a quota subscription: On joining the IMF,

SLR ✓SLR stands for Statutory Liquidity ✓Ratio which is a percentage of deposit that all the commercial banks in the country are required to maintain. ✓The commercial banks can maintain their SLR in forms of gold, liquid cash or any type of securities. ✓The Statutory Liquidity Ratio commonly known as SLR is a monetary tool

The Evolution of Democratic Process in Nepal ✓End of monarchy: In December 2007 – Parliament approved the abolition of monarchy as part of peace deal with Maoists, who agree to rejoin government. ✓Elections to New Constituent Assembly: In April 2008 – Former Maoist rebels won the largest bloc of seats in elections to the new

The Sir Creek Issue: Significance ✓Over the years, the creek has also changed its course considerably. If one country agrees to the other’s traditional position, then the former will end up losing a vast amount of Exclusive Economic Zone (EEZ). ✓A vital reason for two countries locking horns over this creek is the possible presence