Category: GK and Current Affairs

BHIM: UPI-based mobile app launched

BHIM
Prime Minister Narendra Modi has recently launched a mobile app called ‘BHIM’ (BHarat Interface for Mobile), as he urges people to make digital payments a “routine” to help make India a cashless economy. The BHIM app is a modernised version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary...

ICC Test and ODI Teams 2016 announced

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The International Cricket Council (ICC) recently announced its Test and ODI Teams of 2016. Former Test stalwarts Rahul Dravid, Gary Kirsten and Kumar Sangakkara selected the sides based on players’ performances in the period from September 14, 2015 to September 20, 2016. Also read: Mithali Raj takes India to Asia Cup...

CRR tweak by RBI derails bankers

RBI
In a swift move, the Reserve Bank of India (RBI) raised the Cash Reserve Ratio (CRR) to 100% specifically on deposits received by banks between 16th September and 11th November,2016. What prompted the regulator to take this drastic step? The RBI controls the flow of money and cost of...

RBI launches Sachet to curb defrauds

The Sachet website
The Reserve Bank of India on August 5, 2016 launched a website called “Sachet”. The website will help people obtain information about entities allowed to collect deposits, lodge complaints and also share information regarding illegal acceptance of deposits by unscrupulous entities. The government has taken this step to curb illegal...

Parliament passes GST Bill

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After months of debate and dissension, the Goods and Services Tax (GST) Bill was finally passed on August 8, 2016 by the Indian Parliament. According to Prime Minister Narendra Modi, the GST is “crucial” for ending tax terrorism, besides reducing corruption and black money, and will make the consumer the “king”....