GS paper 3

Foreign Capital, Meaning, Types, Role in Economic Development

Foreign Capital Foreign capital holds significant importance for the economic development of countries, and governments worldwide actively seek to attract it. It refers to the influx of capital from international sources into the domestic economy, and its contribution is recognized...

National Development Council, Objectives, Members, Functions

National Development Council The National Development Council (NDC), also known as the Rashtriya Vikas Parishad, is the highest authority responsible for making decisions and engaging in discussions regarding development issues in India, with the Prime Minister as its presiding member....

Tax System in India, Types, Tax Structure, Tax Slabs

Tax System in India In India, the taxation system is designed to distribute the responsibility of levying taxes between the Central Government, State Governments, and local authorities such as Municipalities and Local Governments. This collective approach ensures that the government...

Gold Monetisation Scheme, Objectives, Features, Benefits

Gold Monetisation Scheme The Gold Monetisation Scheme is a program launched in November 2015 by the then Minister of Finance, Late Shri Arun Jaitley, under the Ministry of Finance. The objective of the scheme is to mobilize the idle gold...

Bad Bank, Definition, Concept, Examples, Pros & Cons

Bad Bank A bad bank is a financial institution that is specifically created to address the issue of non-performing assets (NPAs) or bad loans held by commercial banks. The primary goal of a bad bank is to relieve the burden...

Banking Ombudsman Scheme, Definition, Functions

Banking Ombudsman The Banking Ombudsman is designated to resolve complaints and disputes between banks and their customers. This includes issues related to banking services, such as non-adherence to regulations, improper account handling, unauthorized transactions, and other grievances faced by bank...

National Pension Scheme for Traders and The Self-employed Persons

National Pension Scheme for Traders and The Self-employed Persons (NPS) The Pradhan Mantri Laghu Vyapari Maan-dhan Yojana, also known as the National Pension Scheme for Traders and Self-Employed Persons, is a pension programme that offers shopkeepers, retail traders, and self-employed...

Micro ATMs in India, Definition, Features, Benefits

Micro ATMs Micro ATMs are compact electronic devices that provide basic banking services in areas with limited banking infrastructure. They enable customers to perform transactions such as cash withdrawals, balance inquiries, and fund transfers using their debit cards or biometric...

Priority Sector Lending, Definition, Targets, RBI Guidelines

Priority Sector Lending Priority Sector Lending (PSL) refers to a regulatory framework implemented by central banks or financial authorities in many countries to ensure that a certain portion of bank loans are directed towards specific sectors of the economy that...

Labour Laws in India, Four Labour Codes and its Benefits

Labour Laws in India Due to the fact that it did not match the record employment growth, India's growth story has remained unfinished. Although there was a slowdown in employment from 2000 to 2009, the Indian economy expanded on average...