Importance of Current Affairs in Competitive Exams The session begins with an overview of upcoming exams and classes, emphasizing the importance of current affairs for competitive examinations. The focus is on various banking instruments like government securities and payment banks, explaining their roles in financial inclusion.
Understanding Government Securities Government securities are defined as tradable debt instruments issued by central or state governments to finance fiscal deficits. They carry minimal risk due to government backing, making them a safe investment option for the public.
Role and Functionality of Payment Banks Payment banks were introduced by RBI in 2014 to enhance financial inclusion among unbanked populations. These specialized banks offer basic services but cannot issue loans beyond certain limits or accept deposits over specified amounts.
Regulatory Framework for Fintech Sector Key regulatory bodies overseeing fintech operations include RBI, SEBI, and IRDAI. Each body has distinct responsibilities related to different sectors within financial technology such as insurance regulation and stock market oversight.
'Article 270' Tax Distribution Explained. 'Article 270' outlines tax revenue distribution between union states; currently states receive a share from divisible pool taxes based on recommendations from Finance Commissions which assess fiscal needs periodically without including specific charges collected at federal levels
.Growth Potential In India's Space Economy. .India's space sector allows up to 100% foreign direct investment (FDI) aiming at attracting global investors while ISRO leads globally representing significant portions compared with other countries’ contributions towards space economy growth projections through strategic investments until2030 .