Other Important Economy News- The Hindu
|
News Headline |
Explanation |
|
RBI Enhances Transaction Limits on UPI 123,
UPI Lite |
The Reserve Bank of India (RBI) has increased the
transaction limits for UPI123Pay and UPI Lite to promote wider adoption of
these digital payment services. UPI123Pay’s limit is now raised to ₹10,000
from ₹5,000 per transaction, and the per-transaction limit for UPI Lite has
been doubled from ₹500 to ₹1,000. These changes are expected to enhance
digital payment efficiency. |
|
EU’s CBAM, Deforestation Norms Unilateral,
Arbitrary: FM |
India's Finance Minister Nirmala Sitharaman criticized the
European Union’s Carbon Border Adjustment Mechanism (CBAM) and deforestation
rules, calling them ‘unilateral’ and ‘arbitrary.’ She argued that these
measures could harm developing nations like India by stifling their economic
growth and impeding green energy transitions, urging that international
climate agreements be more inclusive. |
|
ECB Policymakers Press Case for Another Rate
Cut in October |
Policymakers at the European Central Bank (ECB) are
advocating for another interest rate cut in the upcoming October meeting.
This follows previous cuts made to address rising inflation and energy costs,
exacerbated by geopolitical tensions in the Middle East. Despite some
opposition, many officials argue that another rate cut is necessary to combat
inflation and ensure economic stability. |
MCQs
1. What is the new transaction limit for UPI123Pay as per
RBI’s latest announcement?
- A)
₹5,000
- B)
₹7,500
- C)
₹10,000
- D)
₹15,000
Answer: C) ₹10,000
2. Why did Finance Minister Nirmala Sitharaman criticize the
EU’s CBAM and deforestation rules?
- A)
They are beneficial to developing nations.
- B)
They are unilateral and arbitrary.
- C)
They promote economic growth for all nations.
- D)
They help reduce carbon emissions globally.
Answer: B) They are unilateral and arbitrary.
3. What is one of the potential impacts of the EU’s Carbon
Border Adjustment Mechanism (CBAM) according to India’s Finance Minister?
- A) It
will accelerate India’s economic growth.
- B) It
will stifle the economic growth of developing countries.
- C) It
will lower carbon emissions in developing nations.
- D) It
will promote better trade relations with India.
Answer: B) It will stifle the economic growth of developing countries.
4. What reason did ECB policymakers give for proposing
another rate cut in October?
- A) To
boost exports to developing nations.
- B) To
address rising inflation and energy costs.
- C) To
increase the value of the Euro.
- D) To
reduce the economic dependency on other nations.
Answer: B) To address rising inflation and energy costs.
5. What limit has the RBI set for UPI Lite’s per-transaction
amount after the recent enhancement?
- A)
₹1,000
- B)
₹2,000
- C)
₹3,000
- D)
₹5,000
Answer: A) ₹1,000
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