GS paper 3

Demonetisation 2.0, Reason, Declining Circulation & Clean Note Policy

Demonetisation 2.0 The Reserve Bank of India (RBI) has made a momentous decision to stop issuing banknotes with the denomination of 2000 and it is also being said as Demonetisation 2.0. These notes will no longer be printed, although they...

Private Sector Banks in India, Functions, Advantages, Disadvantages

Private Sector Banks Private Sector Banks are financial institutions that are owned and operated by private individuals or corporations, rather than the government. These banks operate with the objective of making profits for their shareholders. Private Sector Banks play a...

Public Sector Banks in India, Definition, Functions, Advantages, Disadvantages

Public Sector Banks Public Sector Banks are financial institutions that are owned and operated by the government. These banks play a significant role in the economy by providing banking services to individuals, businesses, and government entities. Public sector banks are...

List of Scheduled Commercial Banks in India, Functions, Examples

Scheduled Commercial Banks Scheduled Commercial Banks in India are banks that are listed under the Second Schedule of the Reserve Bank of India Act, 1934. These banks are regulated by the Reserve Bank of India (RBI) and are authorized to...

Banking System in India, History, Structure, Types, Reforms

Banking System in India The Banking System in India is a well-developed and regulated system that plays a crucial role in the country's economy. It comprises various types of banks, including public sector banks, private sector banks, foreign banks, regional...

Insurance Regulatory and Development Authority of India (IRDAI)

Insurance Regulatory and Development Authority The Insurance Regulatory and Development Authority of India (IRDAI or IRDA) was established in India in 2000 under the Insurance Regulatory and Development Authority Act, of 1999. It was formed based on the recommendations of...

Water Pollution, Meaning, Causes, Effects and Preventions

Water pollution According to the definition of water pollution, it occurs when chemicals contaminate water sources, making the water unfit for swimming, cooking, cleaning, and other uses. Pollutants include things like chemicals, garbage, bacteria, and parasites, among others. All forms...

Insurance Sector in India, Objective, Reforms, Regulators

Insurance Sector in India The Insurance Sector in India is a vital part of the country's financial industry, offering a diverse range of insurance products and services to mitigate risks and provide financial protection. It is regulated by the Insurance...

List of Financial Regulatory Bodies in India, Role, Types, Functions

Financial Regulatory Bodies in India Financial regulators are government or non-governmental organizations responsible for overseeing and regulating financial markets and institutions to ensure their stability, integrity, and fair operation. They establish and enforce rules and regulations that govern various aspects...

Planning Commission of India, Objective, Functions, Achievements

Planning Commission of India The Planning Commission of India was an institution established in 1950 with the aim of formulating Five-Year Plans for the country's economic development. It served as the central planning body that coordinated and assessed various economic...