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.
russia ukraine crisis - impact on india
Posted inCurrent Affairs GD Topics Economic GD Topics

Russia-Ukraine crisis – Impact on India

A rise in crude oil prices means petrol and diesel prices may increase, which can result in price rise of everyday commodities such as grains and vegetables because of the rise in the cost of transporting these commodities. This can increase inflation, which is already on the rise even before the Ukraine crisis due to the covid pandemic. So, a further increase in inflation can affect the Indian economy negatively.
NATO
Posted inCurrent Affairs GD Topics International GD Topics

NATO

NATO was established after the second world war to ensure peace in Europe by protecting the European countries from the former Soviet Union. Even after the Soviet Union’s disintegration, NATO stood the test of time and is working towards ensuring peace in Europe and defence cooperation among member nations.