GS paper 3

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

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Payment Banks in India, Characteristics, Regulations, Functions

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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...

NABARD, History, Functions, Development & Challenges

NABARD The National Bank for Agriculture and Rural Development was founded to provide financing to the agricultural and rural development sectors. With the goal of coordinating the activities of all rural credit institutions and serving as the national apex institution...

Liquidity Adjustment Facility (LAF), Definition, Components

Liquidity Adjustment Facility The Liquidity Adjustment Facility (LAF) is a monetary policy tool used by central banks to manage liquidity in the banking system. It is primarily employed by central banks to influence short-term interest rates and maintain stability in...

Industrial Dispute Act 1947, Introduction, Objective & Feature

Industrial Dispute Act 1947 All workers employed on the Indian mainland are subject to the Industrial Dispute Act of 1947's labour laws. April 1st, 1947 saw the implementation of this Act. Trade unions and employees in any industry in India...