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Comprehensive Coverage on Economics-Currency War (in Hindi)
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Comprehensive coverage on economics- Currency war Devaluation of currency

Komal Shekhawat
Written two UPSC Mains (2017-2018) love to teach and learn.

U
Unacademy user
slide 8. I seriously don't expect any spelling mistakes, by such highly educated professors. I am sorry but please do care, it's a very large education platform. so people must fill confident of these sources.
hii Manish, definitely it will be noted, it was a typing error and hope the content in this particular lesson has not put down your confidence. And also because Students have confidence regarding the quality of the content they follow the courses at unacademy
Superb video maim God bless you and may you live long maim this video will help me in my upsc preparation maim
thank you very much mam
  1. 2 9 6 Comprehensive Coverage on Economics 2 3 2 5


  2. 2 Content created by: Komal Shekhawat 0 Comprehensive current affairs coverage for Economy Portion Lucid analysis and Explanation 2 - Problem Solving MCQs to increase engagement 4


  3. 5 Currency War 1 0 News: Reserve Bank of India (RBI) Governor Urjit Patel has flagged the risks to macroeconomic stability from a potential 'currency war' in the wake of rising global trade tensions 2


  4. 6 Facts: . When nations allow their currency to weaken appreciably or 1 0 devalue them to gain competitive edge over rival nations, it is known as Currency war. If other countries react by devaluing their respective currencies to retain competitiveness, this could lead to instability in markets. Devaluation: policy tool to reduce the value of a currency, relative to other currencies, in a fixed exchange rate. This is different from depreciation where currency decreases due to market forces. Reasons for devaluation: o To boost export:s o To shrink a trade deficit . 2 . o o To reduce the debt servicing burden


  5. 7 Additional Facts: 1 India has devalued its currency twice: 0 once in 1966 owing to drought after wars with Pakistan and China, in 1991, due to BoP crisis caused due to spike in oil prices owing to Gulf Wars. o o 2


  6. 8 KITE Economy (Gig Economy) 1 0 News: Reserve Bank of India (RBI) Governor Urjit Patel has flagged the risks to macroeconomic stability from a potential 'currency war' in the wake of rising global trade tensions 2


  7. 9 KITE economy - knowledge and information technology-based, 1 intellectual property-focussed and entrepreneurially-led economy 0 GIG economy - In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. 2


  8. 10 White Label ATM 0 News: Cash supply stress, cost pressures hurting growth of white label ATMs (Automated Teller Machine) 2


  9. Facts: . White label ATMs, are the ATMs permitted by RBI which are 1 0 operated by non - bank entities. They don't have any bank logo. Cash deposits are not accepted at White Label ATMs. White Label ATMs were conceptualised to foster financial inclusion . . 2


  10. 12 1 0 Orange Label ATM ATM Provided for Share Transactions Yellow Label ATM 2 ATM provided for E-commerce Pink Label ATM ATM for women banking 4+


  11. 13 1 0 Brown Label ATM ATM are those Automated Teller Machines where hardware and the lease of the ATM machine is owned by a service provider but cash management and connectivity to banking networks is provided by a sponsor bank. 2 4


  12. 14 LOUs and LOCs 0 News: RBI must resume issuing LoUs, LoCs, says parliamentary panel 2


  13. UPI 2.0 1 0 News: News: National Payments Corporation of India (NPCI) has launched UPI 2.0 as an upgrade to Unified Payment Interface (UPI) 2 1> UNIFIED PAYMENTS INTERFACE THE FUTURE OF PAYMENTS


  14. 20 UPI 2.0 New Features 1 0 upipayments.co.in One Time Mandate Higher Transaction Limit Overdraft Account 2 UPI 2.0 QR Code 4 See Invoice Security Check


  15. 21 Concession Financing Scheme 1 0 News: The first extension of Concessional Financing Scheme(CFS) have been approved by Union Cabinet 2


  16. Facts: 1 0 CFS is aimed to support Indian Entities bidding for strategically Under the Scheme, MEA selects the specific projects keeping in . The Scheme is presently being operated through the important infrastructure projects abroad since 2015-16 view strategic interest of India Export-lmport Bank of India. 2


  17. 23 Financial Implications: Financial implication is towards payment of Interest Equalization Support (IES) to the lending Bank for which budgetary provision will be made by the Department of Economic Affairs 1 0 2


  18. 24 Unconventional Hydrocarbons Exploratiorn 1 0 News: The Union Cabinet has approved the policy to permit exploration and exploitation of unconventional hydrocarbons such as Shale oil/gas, Coal Bed Methane (CBM) etc. 2


  19. 25 Facts: 1 It will be carried out under the existing Production Sharing 0 Contracts (PSCs) Production Sharing Contracts (PSCs)- It is an agreement between Contractor and Government whereby Contractor bears all exploration risks, production and development costs in return for its stipulated share of (profit from) production resulting from this effort. . 2 Production Sharing Contracts became widely adopted as part of the New Exploration and Licensing Policy (NELP) .


  20. 27 In 2015, the Cabinet had approved the Marginal Field Policy (MFP)/DSF policy with the objective to bring marginal fields, that could not be monetized for years due to various reasons such as isolated locations, small size, prohibitive development costs, technological constraints, unfavourable fiscal regime, to the production at the earliest so as to augment the domestic production of oil and gas. . 0 Open Acreage Licensing Policy (OALP): Setting up of National Data Repository. OALP enables upstream companies to bid for any oil and gas block without waiting for the announcement of bidding Shift towards a gas based economy: The Government wants to make India a gas-based economy 'by boosting domestic production and buying cheap LNG'. India has set a target to raise the share of gas in its primary energy mix to 15% by 2022, Gol has adopted a systematic approach to focus on all aspects of the gas sector: Development of gas sources either through domestic gas exploration & production (E&P) activities or through building up facilities to import natural gas in the form of LNG Development of adequate gas pipeline infrastructure including nationwide gas grid and Secondary distribution network Development of gas consuming markets including fertilizer, power, transport and industries, etc o o


  21. 29 Blockchain Bond 1 0 News: The World Bank launched world's first blockchain bond named Bond I 2


  22. 30 Facts: 1 0 Bond -I will be created, allocated, transferred and managed by using blockchain technology . o Bond I stands for Blockchain Offered New Debt Instrument as well as a reference to Australia's famous Bondi beach in Sydney Bond-I is Ethereum blockchain bond dominated in Australian dollars. Funds raised from this bond will go towards sustainable development initiatives. World Bank has chosen Commonwealth Bank of Australia as a sole arranger for this bond. Maturity period of bond is two-year 2 o . .


  23. 31 Additional Facts: 1 0 Blockchain: it is a growing set/list of records called as blocks which are secured by cryptographic encryption. Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. contract functionalitytem 2


  24. 32 HOW DOES BLOCKCHAIN WORK? 0 Requested transactions are funneled into a P2P network and broadcast Individual nodes recieve the request and validate the transaction using an algorithm. to each individual computer (or node) One party requests a transaction Once the block is added to an existing chain, transactions are complete and permanent are represented as blocks and added to a public ledger


  25. Aadhar 1 0 News: Axis Bank has become the first bank in the county to introduce Iris Scan Authentication feature for Aadhar-based transactions through its micro ATM tablets 2


  26. 34 Facts: 1 Micro ATMs completely eliminate the requirement of debit cards, passwords, PINs and user IDs. This service requires a customer to scan their iris on a tablet. This will boost the bank's financial inclusion efforts by offering easier access to digital banking for consumers especially in the rural parts of the country Iris scan technology is completely contactless and provides up to 98.2% authentication success rate. 0 2


  27. 35 Proposal for City Level GDP 1 0 News: The Centre hopes to bring out city-level GDP data as the urban India is responsible for an increasingly large share of the national GDP. 2


  28. 40 C. Global Liveability Index News: Global Liveability Index 2018 was released in August. Facts: 1 0 Published annually by Economist Intelligence Unit (EIU) Delhi was ranked 112 and Mumbai five places behind at 117 are the only Indian cities on the list. The index assigns cities scores on five broad parameters stability, healthcare, culture/environment, education, and infrastructure using 30 indicators. Austria's capital Vienna has been ranked first and Syrian capital Damascus has been ranked at the bottom. . 2 .


  29. D. State Energy Efficiency Preparedness Index News: Bureau of Energy Efficiency (BEE) and Alliance for an Energy Efficient Economy (AEEE), released the 'State Energy Efficiency Preparedness Index' 1 0 Facts: . The nationwide Index is a joint effort of the NITI Aayog and BEE 2 based upon their efforts and achievements towards energy efficiency implementation states have been categorised as - front runner, achiever, contender and aspirant Five states were enumerated in the front runner list- Andhra Pradesh, Rajasthan, Punjab, Maharashtra and Kerala It seeks to create awareness about emergency efficiency and inculcate energy conservation *


  30. 42 Additional Facts: 1 0 The Government of India set up Bureau of Energy Efficiency (BEE) in 2002 under the provisions of the Energy Conservation Act, 2001. 2


  31. 43 GOODS AND SERVICES TAX NETWORK 1 0 News The Union Cabinet has approved increasing of Government ownership in Goods and Services Tax Network (GSTN) 2


  32. More 1 It has decided that the entire 51% equity held by the Non-Government Institutions in GSTN will be acquired equally by the Centre and the State Governments Hence the restructure GSTN will have 100% government ownership equally distributed between the Centre (50%) and the States (50%). There will also be a change in the existing composition of the Board of GSTN. It will have total 11 Directors: o 1 Chairman o 1 CECO o 3 directors from the Centre O 3 from the States o 3 other independent directors to be nominated by the 0 S. 2 . Board of Directors


  33. 46 GSTN SHAREHOLDING 0 NSE Strategic Investment Corporation HDFC Bank Union govt 10 24.5 10 2 10 HDFC 10 24.5 State govts along with empowered group of state finance ministers ICICI Bank 4+ LIC Housing Finance Source: GSTN