GS paper 3

Mission Indradhanush for PSBs, Components, 4R Strategy

Mission Indradhanush for PSBs Mission Indradhanush, launched in 2015 by the Ministry of Finance of the Indian government, is a comprehensive program designed to address challenges faced by Public Sector Banks (PSBs). The program, influenced by the P J Nayak...

Official Secrets Act, History, Prosecution, Penalties & Reforms

Official Secrets Act The anti-spying legislation in India is the Official Secrets Act of 1923. It declares that actions that support a hostile state's attack against India are vehemently condemned. A restricted government site or location is likewise prohibited from...

Bank Board Bureau (BBB), Functions, Composition, Chairman

Bank Board Bureau The Banks Board Bureau (BBB) was established in 2016 as a significant measure to bring about reforms in the banking sector, with a particular focus on revitalizing public sector banks. The primary purpose of the BBB was...

Marginal Cost of Funds Based Lending Rate (MCLR)

Marginal Cost of Funds Based Lending Rate MCLR stands for Marginal Cost of Funds Based Lending Rate. It is the benchmark interest rate that commercial banks in India use to determine the lending rates for various loan products. Introduced by...

Informal Economy in India, Definition, Challenges, Initiatives

Informal Economy The Informal Economy refers to economic activities that are not regulated or protected by formal institutions, such as government laws and regulations. It includes unregistered businesses, self-employment, and casual labour that operate outside the scope of official oversight...

National Payments Corporation of India (NPCI), Complete Details

National Payments Corporation of India National Payments Corporation of India or NPCI is an organization that operates and manages the payment systems in India. NPCI was established in 2008 by the Reserve Bank of India (RBI) and Indian Banks' Association...

Payment Banks in India, Characteristics, Regulations, Functions

Payment Banks Payment banks are a type of financial institution that operates in the banking sector, providing basic banking services to individuals and small businesses. Payment banks are licensed by the central bank or financial regulatory authority of a country...

PFRDA, History, Functions, Recommendations & Amendment

PFRDA The Pension Fund Regulatory and Development Authority Act of 2013 created the Pension Fund Regulatory and Development Authority (PFRDA), a statutory regulatory agency. It was created to oversee and control the National Pension System (NPS) and the Indian pension...

Difference between Organised and Unorganised Sector

Difference between Organised and Unorganised Sector The organised sector, as used in the context of the economy, refers to companies and sectors that operate legally and are subject to government regulation. These companies typically have a sizable customer base, a...

World Oceans Day, History, Theme 2023, Significance & Importance

World Oceans Day Every year on June 8, all UN member nations observe World Oceans Day to promote awareness of the value of oceans. The seas, which make up around 70% of the planet, provide a haven for many different...