Current Affairs – 07/12/24
Daily Current Affairs – 07/12/24, from Mint and Indian Express. A daily dose of news update is the best strategy for clearing UPSC.
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Latest MPC Review
In the latest MPC review concluded on 6th December, it’s decided to keep the repo rate unchanged but reduced the CRR by 50bps
Unemployment
Unemployment is a situation in which individuals are ready & willing to work at the prevailing rate of wages but are not able to get work.
NAIRU – Non Accelerating Inflation Rate of Unemployment
NAIRU is the lowest unemployment rate that can be sustained without causing inflation to rise. It’s a measure of the economy’s “spare capacity”
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PROBA-3 Mission
Proba-3 mission, a ESA mission consisting of two satellites, is designed to study the solar corona—the outer layer of the Sun’s atmosphere.
Phillips Curve
Phillips Curve states that inflation and unemployment have an inverse relationship; higher inflation is associated with lower unemployment and vice versa.
Rural Poverty
Rural poverty, is characterised by various factors including poor living conditions, heavy reliance on agriculture, landlessness and limited access to basic services.
Multidimensional Poverty Index(MPI)
Global Multidimensional Poverty Index(MPI) was developed by the OPHI and the UNDP and uses different factors to determine poverty beyond income.
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Banking sector reforms
Banking Sector Reforms refer to the series of changes implemented to modernise and strengthen the Indian banking system.
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Banking laws amendment bill – 2024
Banking laws amendment bill allows bank account holders to have up to four nominees in their accounts also proposes changes related to directorship.
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