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ENERGY SECURITY IN INDIA Increasing the variety of energy sources, expanding India's footprint in exploration and production, India is concentrating on alternative energy sources and tackling the energy transition through a gas-based economy, green hydrogen, and electric vehicles (EVs) . By adding new suppliers including Columbia, Russia, Libya, Gabon, Equatorial Guinea, etc., India increased the number of its crude oil suppliers from 27 nations in 2006–07 to 39 in 2021&nd

India’s Trade with China

India’s Trade with China In 2022, China's imports to India reached a record high, while the trade gap increased to more than $100 billion. Major Points Iron ore, cotton, and other commodities based on raw materials were India's largest exports to China in recent years. China's demand for these commodities recovered last year (2021). India's exports to China: From $28.1 billion to $17.48 billion, India's exports to China decreased. From $69.4 billion

National Green Hydrogen Mission

National Green Hydrogen Mission The National Green Hydrogen Mission was approved by the Cabinet, which stated that it will make India a major producer and supplier of green hydrogen worldwide. Green hydrogen is a form of hydrogen that is created by electrolysing water and utilising an electrolyser that is totally driven by renewable energy sources. What is the National Green Hydrogen Mission? The mission also aims to develop markets for green hydrogen and its derivatives f

Blockchain application in Agriculture

Blockchain application in Agriculture Recently, the government announced plans to implement the technology across all crops grown for export to enhance food shipments and encourage farmers to adopt chemical-free practices. Blockchain could eventually give natural farming in India a technological boost. Agriculture may benefit from ground-breaking innovations and cutting-edge technologies like blockchain and artificial intelligence (AI). Blockchain technology will undoubtedly change t

Bad Bank & NPA

Bad Bank & NPA The Finance Minister recently informed the Parliament that banks had written off bad loans totaling Rs 10,09,511 crore during the previous five fiscal years. What is a bad bank? Non-profitable Assets (NPAs), sometimes known as bad loans, are purchased by bad banks from banks. By removing bad loans from banks' balance sheets and allowing them to lend to clients again without restrictions, bad banks are intended to lessen the pressure on banks. The

Indian Rupee Depreciation

Indian Rupee Depreciation In 2022, the Indian Rupee saw a 10% decline against the US dollar, making it the worst-performing Asian currency. This decrease was mostly caused by the US dollar's rise as a result of its safe-haven appeal during global recession and inflation fears as well as the Russia-Ukraine war. In 2022, How did the rupee perform? The rupee hit a record low against the dollar of 83.2 during the year. Other Asian currencies depreciated to a lower amount than

26th Financial Stability Report (FSR)

26th Financial Stability Report (FSR) The Reserve Bank published the Financial Stability Report's 26th edition. The report details the Sub-Committee of the Financial Stability and Development Council's (FSDC) collective assessment of threats to financial stability and the financial system's resilience. India's banks and non-bank lenders are capable of withstanding even the worst macroeconomic stress, according to the RBI's most recent Financial Stability Repor

Sovereign Green Bonds

Sovereign Green Bonds The Reserve Bank of India (RBI) will issue Sovereign Green Bonds for the first time in the current fiscal year in two tranches of Rs 8,000 crore each. On January 25 and February 9, the RBI would issue green bonds for five and ten years worth Rs 4,000 crore each. In November 2022, the government released the blueprint for the sovereign green bond. About the green bond: Companies, nations, and international organizations all offer green bonds, which guara

National Geospatial Policy 2022

National Geospatial Policy 2022 The National Geospatial Policy 2022 was unveiled by the Ministry of Science and Technology in order to establish India as a world leader in the geospatial industry. With a growth rate of 12.8%, India's geospatial economy is predicted to reach Rs 63,000 crore by 2025 and employ more than 10 lakh people. Geospatial technology: What is it? The term "geospatial technology" is used to describe a wide range of modern tools that aid in ma

Digital Payment In India

Digital Payment In India The Union Government has set aside 2,600 crores as an incentive for banks to promote digital payments. About UPI: The Unified Payments Interface (UPI) provides a simple way to move money from one bank account to another. It has grown in popularity since its debut in 2016. UPI now accounts for more than 40% of all retail digital payments (non-cash and non-paper payments) in India. The National Payments Corporation of India (NPCI) operates the UPI, wh

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