Internationalisation of the Rupee
Posted inCurrent Affairs GD Topics Economic GD Topics

Internationalization of the Rupee

Sanctions on Russia for its invasion of Ukraine resulted in the possibility of trade agreements in currencies other than the US dollar. This can negatively affect the share of the US dollar in international transactions, which can dilute the dominance of the US dollar in the global financial system. So, making trade agreements with other countries in Rupees can increase the share of the Rupee in international transactions and hence can pave a path to the internationalization of the Rupee.
global warming
Posted inCurrent Affairs GD Topics Environment GD Topics General GD Topics Science GD Topics

Global warming – Causes, Effects & Solutions

Global warming is heating up of earth due to the presence of CO2 and other greenhouse gas emissions in the air. The greenhouse gases trap the sun’s heat. Using renewable energy sources such as solar energy, and wind energy as alternatives to burning fossil fuels can prevent further increases of greenhouse gases in the atmosphere. Moreover, Sustainable and eco-friendly living can reverse global warming.
SWIFT
Posted inCurrent Affairs GD Topics Economic GD Topics

SWIFT

SWIFT (Society for Worldwide Interbank Financial Telecommunication) provides a secure financial messaging system for international payments. Russia’s invasion of Ukraine resulted in several sanctions on Russia, which includes its partial ban from SWIFT. Most Russian banks are now excluded from SWIFT, which makes it difficult and expensive for them to make and receive international payments.