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This report explained that India is expected to show the highest population increase between now and , overtaking China as the world's most populous country, by around India, along with eight other countries, will make up over half of the estimated population growth between now and In all, the population of sub-Saharan Africa is expected to practically double by The world population report, released by the UN two years ago, had estimated that the population of India will surpass that of China's by around China, with 1. Decrease in population size As per the World Population Prospects , a growing number of countries are experiencing a decrease in population size.
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- Facebook’s cryptocurrency ‘Libra’
- Central Bank Digital Currency (CBDC)
- Current Affairs for UPSC IAS
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- UPSC IES 2021 Notification To Be Released Today, Check Exam Pattern And Steps To Apply
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Facebook’s cryptocurrency ‘Libra’
Money is a commonly accepted medium of exchange. Money is anything that can be generally accepted as payment for goods and services or settlement of debts.
Money is the most liquid it is easy to sell in the market like gold, silver etc. Fungible — Fungibility is the ability of a good or asset to be interchanged with other individual goods or assets of the same type.
For example, 1 note of Rs. It is an economic phenomenon where two parties each hold an item the other wants, so they exchange these items directly without any monetary medium. Hyper-inflation is a situation when inflation rises at an extremely faster rate. The rate of inflation can increase from 50 times to times.
Deferred Payment — It is temporary postponement of the payment of an outstanding bill or debt, usually involving repayment by instalments. Money is the most liquid of all assets. Liquidity Order is as following —. A boom refers to a period of increased commercial activity within a business, market, industry, or economy as a whole.
Business cycle is fluctuations in economic activity that an economy experiences over a period of time. Business cycles are generally measured using the rise and fall in the real gross domestic product GDP or the GDP adjusted for inflation.
It is also known as the economic cycle or trade cycle. Primary deposits refer to that sum of money which is deposited in the bank accounts while opening such accounts. Secondary deposit or derivative deposit is the deposit of credit created by the bank to the borrower while lending loan. The need for credit comes from demand and supply side of the economy.
The consumers of demand side require credit to acquire simple assets like consumer durables. The demand for credit from supply side corporate houses arises due to their needs for long-term investments. Types of loans:. The Chakravarty committee has emphasized that price stability, growth, equity, social justice, promoting and nurturing the new monetary and financial institutions have been important objectives of the monetary policy in India.
The Government of India is the issuing authority of coins and supplies coins to the Reserve. Asset-backed cryptocurrencies are crypto coins that have a link to an object with economic value.
Document published by RBI. The broad contours of Vision revolve around 5 Cs — coverage , convenience ,. To achieve these, Vision will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity.
This demonstrates a steep shift towards digital payments. MMID is a 7 digit number , issued by banks. Every bank account has only one MMID. MMID is one of the input which when clubbed with mobile number facilitates fund transfer. Combination of Mobile no. Currency-to-GDP ratio as of March was Higher the tax to GDP ratio the better financial position the country will be in. Divisible — Money can be easily divided into small increments so that it can match commodity values more precisely.
For example, 4 notes of Rs. Simplest in form No foreign exchange regime No concentration of wealth. Double coincidence of wants was a must Exchange of perishable goods No saving capital No circular flow of income No Divisibility or Fungibility of the same value. It is not perishable so it can be stored.
It will remain intact for a long time. Coins and paper currency. Metallic money has intrinsic value and it has non-perishable nature — can be stored for long time.
Divisible— Item used as money can be easily divided into small increments so that it can match commodity values more precisely. Consider the following liquid assets: UPSC Demand deposits with the banks Time deposits with the banks Savings deposits with the banks Currency The correct sequence of these assets in decreasing order of liquidity is Which of the following is not included in the assets of a commercial bank in India? Collection and payment of various items e. Which of the following measures would result in an increase in the money supply in the economy?
Consider the following: Currency with the public Demand deposits with banks Time deposits with banks Which of these are included in Broad Money M3 1 and 2 1 and 3 2 and 3 1, 2 and 3. Supply of money remaining the same when there is an increase in demand for money, there will be CSE A fall in the level of prices An increase in the rate of interest A decrease in the rate of interest An increase in the level of income and employment.
The money multiplier in an economy increases with which one of the following? Increase in the cash reserve ratio Increase in the banking habit of the population Increase in the statutory liquidity ratio Increase in the population of the country.
Deposit of currency in commercial banks by the public. Borrowing by the government from the Central Bank. Sale of government securities to the public by the Central Bank. Answer Codes: 1 only 2 and 4 only 1 and 3 2, 3 and 4. With reference to inflation in India, find correct statement: Controlling the inflation in India is the responsibility of the Government of India only The Reserve Bank of India has no role in controlling the inflation Decreased money circulation helps in controlling the inflation Increased money circulation helps in controlling the inflation.
Receivable finance Commercial loans Individual loans Installment credit Operating credit. Central Bank is no longer making loans to commercial banks. Central Bank is following an easy money policy. Central Bank is following a tight money policy. Governor, One nominated person -will be from RBI side. It is a member body including the Governor of RBI and is reconstituted every year. It functions under the chairmanship of the Union Finance Minister. Select the correct answer using the code given below: 1 only 1 and 2 only 3 only 2 and 3 only.
The Government of India is the issuing authority of coins and supplies coins to the Reserve Bank on demand The Reserve Bank puts the coins into circulation on behalf of the Central Government.
Which one of the following statements correctly describes the meaning of legal tender money? The money which is tendered in courts of law to defray the fee of legal cases. The money which a creditor is under compulsion to accept in settlement of his claims.
The bank money in the forms of cheque, drafts, bills of exchange, etc. The metallic money in circulation in a country. This is a form of money, which can be paid in discharge of a debt up to a certain limit, and beyond this limit, a person may refuse to accept the payment and no legal action can be taken against. Coins are limited legal tender in India. In this form of money, this can be paid in discharge of a debt of any amount. A person who refuses to accept this money a legal action can be taken against.
Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address. Online payments can be sent without either side knowing the identity of the other. Select the correct answer using the code given below. Decentralized Transparent Traded digitally Non-repudiable. Cryptocurrencies are decentralized , and the regulations inside the network are governed by the majority of the community. Digital currencies are centralized , meaning that transaction within the network is regulated in a centralized location, like a bank.
Cryptocurrencies are transparent. Anyone and everyone is able to see any and all transactions made and received by any user, as all revenue streams are placed in a public chain — the blockchain.
Digital currencies are not transparent. With digital currencies, you cannot choose the address of the wallet and see all money transfers since the beginning of time. This information is kept strictly confidential and private. Cryptocurrencies are regulated by their respective communities. Most countries have some legal framework surrounding digital currencies. Digital currencies have a central authority that can deal with any problems or issues.
This central body can, for example, freeze or cancel transactions on the request of the participant or the authorities. Which one of the following links all the ATMs in India? Digital currency will totally replace the physical currency in about two decades. FDI inflows will drastically increase. Direct transfer of subsidies to poor people will become very effective.
CSE The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank. The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services. The incentive is given by the Government to merchants for promoting digital payments by their customers through Point of Sale PoS machines and debit cards.
These are owned by third party a non-banking firm. They are interconnected with the entire ATM network in the country.
Illegitimate activities.
Central Bank Digital Currency (CBDC)
FDI in multi-brand retail. In News: Commerce Minister Piyush Goyal reiterated that the central government will not allow foreign direct investment in multi-brand retail, and also assured small traders that he would not allow predatory pricing by multinationals. More on the Topic:. Arguments in favor of allowing FDI in multi brand retail:. Internet of Things. Model Mains Question: Discuss Internet of things and its applications. Libra Crypto Currency.
Current Affairs for UPSC IAS
Topics covered:. For prelims and mains: various cryptocurrencies, their uses, concerns over their regulation and issues associated. In other words, it is a digital asset built by Facebook and powered by a new Facebook-created version of blockchain , the encrypted technology used by bitcoin and other cryptocurrencies. The name Libra comes from the basic Roman measurement of weight. The Libra Association is described by Facebook as an independent, not-for-profit organisation based in Switzerland. It serves two main functions: to validate transactions on the Libra blockchain and to manage the reserve Libra is tied to and allocate funds to social causes. Facebook claims that although it created the Libra Association and the Libra Blockchain, once the currency is launched in the company will withdraw from a leadership role and all members of the association will have equal votes in governance of Libra. What you need to know about the cryptocurrencies?
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Karnataka's heritage: High on WiFi, low on toilets. Bonjour Paris: Olympic focus switches to Anand Mahindra recalls when a room at Taj cost Rs 6. Five youngest medal winners of the Tokyo Olympics.
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Horoscope Rashifal 29 January A total of 12 zodiac signs have been described in Vedic astrology. Every zodiac sign is ruled by a planet. Trayodashi will remain after in the evening. Ekadashi is on Saturday. Donating khichdi and urad is of great importance on this day. In the night, worship Mata Kali ji duly and recite Bhairon Stotra.
UPSC IES 2021 Notification To Be Released Today, Check Exam Pattern And Steps To Apply
PlentyOfFish sorted through , users to find trends in matches between certain astrological signs. Click through to find out. Your ideal date is Taurus because you two share the strongest compatibility. Your worst match is Aquarius. When it comes down to choosing the right one, Cancers are most harmonious with each other.
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6 Candidates from Manipur Cracks UPSC Civil Services Examination 2020
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The launch of Digital currency "Libra" by privately owned firm "Facebook" has raised concerns among the Central Banks across the World. They are quite worried that the launch of cryptocurrencies by large number of private sector entities would pose a threat to the existing paper-based currencies and may have an adverse impact on the monetary stability. Accordingly, a number of Central banks across the World have been experimenting with the idea of issuing their own digital Currency i. China has finally decided to experiment CBDC in a pilot mode. Firstly, It is a digital currency backed by the Central bank of a country. Just like currency notes issued by the Central Bank, the CDBC is a legal tender and accepted for the payment of various transactions within a country.
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