Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Queries:
• Technical issues: In LIVE comment box so the Staff can look into it.
• Educational issues: In google form – http://bit.ly/mrufaq1
Absenteeism Binge-Watching
Patience Overconfidence
Faith Risk
DAY#1 Attendance • Remain present in live class to cultivate
discipline in your weekly studies.
• “today not in ‘mood’, cousin’s wedding, I’m
busy with finishing Art & Culture syllabus.
so I will watch entire months recordings at
once later on” #EPICFAIL.
• Binge-Watching: students watch at 1.75x
speed / glance over all EPISODES. All finer
details will not get absorbed, memorized
and reflected in mind.
• Daily 1 almond each= nutritional
absorption will be more compared to eating
+2 months = ~40% drop 30 almonds only once in a month.
Freshers
• 1st Attempt in UPSC-2019
“I can skip this class, already know this WTO
theory from past youtube videos. This is too
basic for 1st attempt-walla”, will check it
later, because Rajya Sabha TV & Mains
Answer writing this the only important thing
Senior Players for me!!!!= #ABSENTISM= #EPICFAIL.
Mid-July Prelims
Result 20th Sept: Mains
UPSC Prelims Paper-1 General Studies: 100 Qs x 2 marks = 200m. 2019
Mid-July Prelims
Polity & IR History Science Tech Current Result 20th Sept: Mains
UPSC Prelims Paper-1 General Studies: 100 Qs x 2 marks = 200m. 2019
Mid-July Prelims
Polity & IR History Science Tech Current Result 20th Sept: Mains
Ans.
25 30
• BoP- CAD, Exchange rate, Currency • Trivial figures – monthly up and down of Rs vs $
convertibility or crude price. Only trend should be known.
• Notable intl. organizations, summits, treaties,
0
agreements, WTO, IMF, SDR etc.
4) Sectors of
• Oil price, currency manipulation, protectionism, Economy 5) Infrastructure 6) HRD
2016
trade war etc. 2017 2018
In Prelims out of (100 MCQs)
11
4 4
1) MBFI 2) Budget 3) Intl. Trade
2016 2017 2018
Mains GSM1-2-3 (Out of 750 m)
What has been asked:
25 30 • GSM2: WTO, Protectionism & WTO (2018)
• GSM3: How to improve FDI, Protectionism &
Currency Manipulation (2018)
0 4) Sectors of
• Indirectly
Economy also helps- globalization, IR
5) Infrastructure 6) HRD
2016 2017 2018
What we’ll study for UPSC (list not exhaustive) What we’ll not study for UPSC (list not exhaustive)
• Schemes, policies for agri, mfg, service: incl. • Trivial figures & petty announcements.
latest budget & Survey, subsidies, loan waivers. • IMF brings down the forecast of India's growth
• Planning Commission, NITI Ayog etc. rate to _ _ % India’s tourism sector is estimated
• GDP, inflation, WPI-CPI etc. theory & current to be _ _ billion$ industry.
issues. • GSM3: Food processing Industry (given in
1) MBFI Mrunal.org/economy)
2) Budget 3) Intl. Trade
• Microeconomics I count here.
• Transport, Energy, Communication, Rural & Urban • Railway Budget – because there is no such thing.
Infrastructure- Issues, Policies & Schemes & OR even how many new train routes announced in
APPs new General budget.
• Including notable environment treaties & clean • TRAI’s technical consultation papers for
energy initiatives spectrums, call drops. Only basics should be
• Investment models for Mains/GSM3 1) MBFI known 2) Budget 3) Intl. Trade
50 60
40
4) Sectors of
5) Infrastructure 6) HRD
2016 2017 2018 Economy
In Prelims out of (100 MCQs)
29 29
~20/100= ~1/5th
25
1) MBFI 2) Budget 3) Intl. Trade
2016 2017 2018
Mains GSM1-2-3 (Out of 750 m)
175 140 180
~150/750= ~1/5th
4) Sectors of
5) Infrastructure 6) HRD
2016 2017 2018 Economy
Refer to Topicwise Papers & Trend analysis available:
Mrunal.org/Prelims and Mrunal.org/Mains
Ans. No. we’ll re-learn those things, in a more structured, more compact
format, with new updates, new budget, new survey.
IYB chapter no.s are given in Handout
page1 so no need to write this.
1) MBFI 2) Budget 3) Intl. Trade
4) Sectors of
5) Infrastructure 6) HRD
Economy
My 500gms Pros/ लाभ
tomatoes for
your 5 kg wheat •Simplest form of trade
•Foreign Exchange: Iraq –oil,
India- wheat, no need to worry
for Rs-$ exchange rate or US
sanctions on Iran!
Cons/ नक
ु सान
Pros/ लाभ
My 500gms
tomatoes for •Simplest form of trade
your 5 kg wheat •Foreign Exchange: Iraq India
Cons/ नक
ु सान
But I want
mangoes for my •Double co-incidence of wants
wheat (आवश्यकताओ का दोहरा संयोग)
•Search cost / Cost of Transaction ↑
•Storage of perishable commodities, Loss
of Value.
•Divisibility & Fungibility problems
• Buying more than needed =
Suboptimal use of resources
• Specialization & division of labor
discouraged because everyone
tries to grow daily necessities-
milk, egg, vegetables.
Sum of these will not equal the big
diamond in terms of value
division yes
mutual
substitution
yes
Diamonds
are forever
but not
Sum of these will not equal the big fungible.
diamond in terms of value
division yes
1 bar = 250gm
mutual
substitution
yes
25 bars x 10 gm
= 250gm
division yes
mutual
substitution
yes
Micromax’s
poor battery
basic phone
Mukesh Ambani’s Mukesh Ambani’s
Co. share Rs.10 Co. ordinary share
face value Rs.10 face value
Medium of
exchange 3) Std. of Deferred Payments
•स्थगगत भुगतानो का मानक
• Tomatoes->sell->$
•Airtel buy iphoneX @3499 only per month x 24
• $->buy->wheat •(Time value of Money / interest)
Store
Transfer
1 mango = 5 $
Pause Video to
Attempt it Yourself
Full ans @ Mrunal.org/Mains
Pepper (Yavanpriya), spices,
Gold, silver, wine, slave girls
ivory, silk, sandlewood
cupronickel = less attractive for smugglers + putting higher face value on smaller sized coins.
Salary to 29 Mansabdars
20 gm
Temptation to smuggled out Self-study Mughal Mansabdari system in NEW
for metal for intrinsic value? NCERT Class7 ch4.
Salary to 29 Mansabdars Salary to 79 Mansabdars
This is not
13 gm
20 gm “Demonetization”
Temptation to smuggled out Self-study Mughal Mansabdari system in NEW
for metal for intrinsic value? NCERT Class7 ch4.
Salary to 29 Mansabdars Salary to 79 Mansabdars
1. Barter system ▲
2. Tax collection ▼
3. East India co
4. Post mutiny: Rupee with
British monarch & queen
face. (Sanskrit word
“Rupyak”) This is not
20 gm “Demonetization” 13 gm
Temptation to smuggled out Self-study Mughal Mansabdari system in NEW
for metal for intrinsic value? NCERT Class7 ch4.
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There is no end to such COIN
GK, we’ll end the matter here.
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Intrinsic
Chinmayanand coin
notified as legal tender.
Ref:
https://timesofindia.indiatimes.com/city/lucknow/R
efusing-Rs-10-coin-in-UP-may-invite-sedition-
case/articleshow/54504222.cms
Coins = low value
transactions. If used Currency Notes = Unlimited L.T.
Coins = Limited L.T.(सीमित) in large transaction
=shortage, • RBI Act 1934- Section 26: Every bank note is
• Pay only a limited amount inconvenience. legal tender in India. Settle any amount of
• Coinage Act 2011 debt.
• Rs. 1 / above => Rs.1000 • But Finance Act’17: “less than 2 lakh only” **
• 50 paisa x 20 coins=> Rs.10 Beyond use Cheque, DD, NEFT etc. else
• Below 50 paisa withdrawn (2011) penalty: entire amount.
Exact section, act or years also not imp.
- Fiat money : issued by the fiat (order) of Government
- Legal tender: “when it can’t be refused to settle transactions & debts in a country.”
In UPSC prelims, for economy MCQs, better to read English version than
Hindi, because must easier to comprehend. Their Hindi is too heavy.
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Doesn’t
mention
currency notes.
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50 paise not withdrawn, just ‘rare’
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• UPSC will not ask which
note- which color / photo in
Prelims, because candidate
could be carrying in wallet!
• IN interview- could ask
because you’ve to remove Mahatma Gandhi New Series of Notes
wallet, wristwatch etc.
outside!
- New Rupee symbol: through competition by Dept of
Eco.Affairs
- D.Udaya Kumar (Associate Professor @IIT Guwahati)
- 15/July/2010. although not imp for UPSC
Further self-study
from here
1. Colonial / imperial era: “Full bodied” silver /gold coins worth value Rs. 2000 in weight
2. Modern: conversion to other notes and “TOKEN coins” of equal FACE value.
I promise to
exchange this note
for
Another Rs.2000
Or Rs.500 x 4 Nos
Or Rs. 10x 200 Nos
Modern: conversion to other notes and “TOKEN coins” of equal FACE value. Real Value
inflation adj. purchasing power not adjusted with inflation or time or interest rate, you just
get purchasing power worth value printing on note.
RBI Governor not bound
to honor this. So, to
avoid legal
complications
Specified Bank Notes
(Cessation of Liabilities)
Ordinance, 2016
then Act in Budget
session of 2017
Figures, punishment values
not imp. for exam.
More on
demonetization-
Blackmoney (pill2),
GDP (pill3)
Commodity Metallic Paper /Token / Bank Money, Crypto
Money Money Representative deposit Currency
/ Fiat Money / money blockchain
legal tender
digital
payment
NEXT is..
Fiat money
•Current Account of a bizman (0% interest Bank / Deposit •Spot
but no minimum balance req., overdraft
facility, large chequebook etc.*) Money •Deferred (recall 3rd
•Savings Account (~4% interest, penalty on secondary function of
•Paper order (Cheque, DD…) money..S-T-D)
not keeping minimum balance*)
•Electronic Orders (NEFT,
•FD (~6%/> interest, but can’t withdraw RTGS, Card / App based…)
before time, else penalty)
Post
Bank account demonetization, Payment
Will study more with UPI-BHIM etc
monetary policy-> CRR. gained hotness in
MCQs
Who and why?
Crossing
•No crossing, Open Cheque, “Bearer”. Anyone who presents can encash
from bank. Theft, Misuse
•Crossed. “Payee’s AC only”.
•Further technical subtypes not imp. For UPSC
Outstation cheque, if deposited outside branch
collection charges 25-50-more depending on
amount + Service tax / GST
At par
Scanned image
of cheque
एक्सीडेंट हो गया
रब्बा रब्बा...
Sending From SBI to Axis From Axis to SBI
customer#1 5 5
customer#2 5 3
Total (8AM-8:30AM) 10 8
NET (incoming) -2 (transfer 2 L to Axis)Gained +2
ATM + this
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Technical factoid, I’ve not taught you this YET.
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Prelims-2017: GS1 Correct answer 2 marks, wrong (-0.66)
42 23 35
100 Q
EasyQ Medium Tough
49 18 33
2016 100 Q
EasyQ Medium Tough
42 23 35
2017 Medium Tough
100 Q
EasyQ
32 22 46
100 Q
2018 EasyQ Medium Tough
And nature of Q was such that 50:50 was
very tough in Prelims 2018.
BHIM Chip based Cards
3 factors
Some clickbait guessmasters will
even say “extreme worded
statements’ always wrong so #2
must be wrong but such ‘meta-
keyword-analysis’ more useful in
Pause Video
Pre-2016, but backstabbing in Pre-to
Attempt
2018, even with law it Yourself
of averages.
Interoperability
Can’t scan payTM QR code with Phonepe, and hence
can’t use Phonepe app wallet balance for paying a
Paytm merchant.
NPCi’s BharatQR
Interoperability Works with all UPI based Bank
Can’t scan payTM QR code with Phonepe, and hence apps and BHIM app.
can’t use Phonepe app wallet balance for paying a Money stays in bank. So ‘wallets’
Paytm merchant. are not necessary’.
Merchant / retail
transactions.
Digital Payment Systems
Merchant
Client
Merchant
Merchant
Visacard,
Payment gateway
Merchant
300 cr./ year
Merchant Discount
Annual charges of
rate (MDR) per
Merchant credit / debit card
transaction Client
NPCi’s RuPay
Merchant
300 cr./ year
40% less
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Attempt it Yourself
Magnetic (60s technology)
•Data on magnetic strip.
•Has to be ‘swiped’. Data can be
duplicated, cloned, skimmed = fraud.
•RBI Stopped this from
1/1/2019.Payment & Settlement Act
Magnetic (60s technology)
•Data on magnetic strip.
•Has to be ‘swiped’. Data can be duplicated, cloned, skimmed = fraud.
•RBI Stopped this from 1/1/2019.Payment & Settlement Act
EMV: Europay+Mastercard+Visa
•chip infrastructure with encryption. Dynamic data storage. RBI ordered
migration (2013- finally 1/1/2019)
•EMV-contact: must remain inside terminal.
•EMV-contactless: simply tap the card on terminal. (RFID)
•3D Secure technology-Bank interview. Chip&PIN | Chip&Signature.
RFID: Radio frequency Identification
• logistic, vehicle detection. Toll pay ICICI-
FAStag prepaid card
• no power source: range ~25m
• With power source: upto 100m
Europay+Mastercard+Visa
Size change and software update:
ATM can work on Windows Linux.
Bank label Brown 2016-17: Hitachi machines with Win7 got hacked. CDAC
project: Bharat Operating Systems Solutions (BOSS) LINUX
• Itself • Outsourced could be used in future. But not import for Prelims.
2017: 100% FDI allowed in this , to encourage digital economy.
When did RBI allow this, which was the first company to launch?
IBPS GK not important for us.
Budget 2017
0% Custom, excise duty
PoS
Adoption MDR ▲
▼
Rs. 10,000-Rs.90
Rs. 10,000/- paid (less if turnover below
20lakh pa)
If 10,000 bill then entirely
merchant has to bear MDR
… but 2000 x 5 =
Government will bear MDR
subsidy. ;-)
BCTT declining from 585 crores to 50 crores. So people withdrawing cash less- behavior changed.
May be withdrawing in smaller batches <10k, but we don’t have to do PHD)
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Official MEITY notification
says only this.
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Front 70-80 words Back 70-80 words
We can define or explain
this term, and then
connect it with ‘less cash
economy’.
Not required to memorize to such depth for Mains.
Concise expression : If not this, Then this bad thing happens. If this
Then this good thing will happen.
Front 70-80 words Back 70-80 words
Paan-ki-dukaan expression “
more mobiles than toilets,
Don’t digress to peripheral bullets still people don’t use wallets
they’ve become payment bank license due to interoperability
so don’t suffer from interoperability. problems
with UPI enabled mechanisms / BHIM
app now interoperability is not a
challenge. = “SPOTLIGHT” on peripheral Word limit. No need to
things you’ll run out of word limit without explain what are the
touching the core question. guidelines.
Merchant Discount Rate
व्यापाररक छूट दर (MDR)- not required.
2017-Budget
• Replace BPSS with Payments Regulatory Board (PRB) in RBI
• Ratan Watal Committee on digital payment recommended
• 2018- October: RBI opposes this move.
Controversy 2018, Sept/Oct:
Chief Economic Affairs Secretary S.C.Garg Committee
gave report to finmin. Suggested separate chairman
appointed by Government.
NEXT Part..
Throughout the week, read
other subjects as well from
the book mentioned in
handout page1!