Prelims Revision Program For UPSC 2025 | Day 32 | Economy | StudyIQ IAS

Exploring the basics of economic theory, focusing on conditional nature and conceptual understanding.

Introduction to the concept described by Adam Smith as the invisible hand in market forces.

Discussing the concept of market economics, supply, demand, and free market economy.

Explanation of the key concepts regarding the fire policy of Lazefaire in market economics.

Explaining the paradox related to the value of diamonds and water.

Discussing the paradox of thrift and its implications on savings and the economy.

Exploring the paradox related to crop production and market dynamics.

Understanding the paradox related to theft in economic scenarios.

Introduction to the concept of collective saving and its impact on the economy.

Understanding the concept of marginal propensity to consume and its relevance in economics.

Explaining the output multiplier theory in a closed economy where external factors do not influence the economy.

Discussing the concept of a closed economy with constant features in terms of individual consumption and demand.

Explaining the output multiplier theory and its application in determining the output multiplier value.

Differentiating between a market economy and a closed market where individual demand drives production.

Discusses the impact of incentives on industry production and consumer behavior.

Explains the scenario where individuals may not buy food products despite incentives, affecting market dynamics.

Highlights the potential outcomes of reducing loan interest rates on businesses and the economy.

Discusses the issue of market liquidity and its impact on consumer spending and investment choices.

Explains various economic theories including inflation, income hypothesis, and life cycle hypothesis.

Discusses the evolution of money from cash to metallic currency to plastic money, including ATM cards and digital transactions.

Explains the shift towards advanced versions of currency like Bitcoin and cryptocurrencies and their impact on the market and inflation.

Covers the primary, secondary, and contingent functions of money, emphasizing its role in measuring value and exchange.

Discussions on the intrinsic value token and its significance.

Explanation of the RBI Act 1934 and Coinage Act of 2011 regarding the prohibition of melting Indian coins in India.

Explanation of intrinsic value and fit money types such as commemorative coins, legal tender, and limited legal tender.

Differentiating between legal tender, unlimited legal tender, and types of coins acceptable in transactions in India.

Discussion on practical limits for cash transactions, as per the Finance Act of 2017, and the concept of limited legal tender.

Exploring the concept of legal tender limits and the types of acceptable coins in India, including commemorative coins and fit money.

The coin designed by the National Institute of Design for visually impaired persons, allowing them to feel and identify the coin by touch.

Details about the distinctive identification coin created with 12 sides for recognition, in contrast to regular round-shaped coins like the RBI's identification coin.

Discussion on the mobile added note identifier for verifying currency authenticity, with examples from old Gandhi notes post-demonetization.

Explaining the concept of bonds, such as bearer bonds and their legal tender status, along with the importance of note denomination.

Details on the monetization notification, SB Note specifics, and the removal of denomination to manage inflation.

Insights on the currency demonetization process, removal of denominations, and tackling inflation through monetary measures.

Discussing the process of writing on a check paper and the importance of details like name and date.

Explaining the significance of writing checks under bank money and the introduction of checks in India during Lord Ripon's time.

Briefly mentioning the Instruments Act and the amendments made in the Negotiable Instruments Act 2017.

Discussing the amendments in the Negotiable Instruments Act 2017 and the considerations while issuing checks to various parties.

Explaining the roles of a drawer and drawee in a check transaction, emphasizing the importance of understanding the process.

Exploring the three types of checks including post-dated checks and their implications in financial transactions.

Introducing demand drafts and the process of creating them for various transactions, highlighting the difference between demand drafts and checks.

नीचे सीटीएस का अगला वर्जन पॉजिटिव पे मैकेनिज्म पीपी वाई में टाइम फोटो ड्राफ्ट काउंट कितने हैं।

ओवरड्राफ्ट और लोन के बीच का अंतर और ओवरड्राफ्ट का उपयोग कैसे होता है।

आरबीआई के आर्थिक नियम के बारे में बैंकिंग रेगुलेशन एक्ट ऑफ 1949 की महत्वता।

डिजिटल पेमेंट और बैंकिंग के बीच का अंतर और बैंकिंग सिस्टम की बदलती दुनिया।

नेटबैंकिंग, डिजिटल ट्रांजैक्शन, और भारतीय बैंक के नए डिजिटल अपडेट्स।

क्यूआर बैंकिंग सोल्यूशन के बारे में बैंकिंग के नए तकनीकी उत्पाद।

एनिटीएन पेमेंट सिस्टम और यूपीआई के बीच का अंतर और आर्बीआई के नए डिजिटल अपडेट्स।

डिजिटल ट्रांजैक्शन, वित्तीय सुरक्षा, और बैंकिंग व्यवस्था में नए सुरक्षा कार्य मार्ग।

Discussion on fees and doubts related to operating ability.

Explanation of RTGS, technology, software, and messaging options like Telegram.

Overview of the problem of interoperability and past issues with UPI.

Insights on the establishment and functioning of NPCI.

Information on NPR, technology, and fund transfers through ATMs.

Discussion on digital payment platforms and application development by companies.

Comparison of IMPS and UPI systems for immediate payment settlements.

The conversation revolves around non-feature phones, their features, and operations like star 99 and payment methods.

Comparison between Bhim and SBI, highlighting their similarities and differences in usage and account management.

Explanation of the initiatives by NPCI in relation to ATM cards usage, payment gateways, and the verification process.

Discussion on NPCI initiatives particularly related to payment gateway services and utilization of debit cards.

Exploration of alternatives to using ESBIATM, focusing on Visa and MasterCard, along with emphasis on payment gateways.

Insights into the NPCI initiatives concerning Aadhar Enabled Payment System (AEPS) and its benefits.

Explanation of the technical requirements for using payment systems like micro ATM and bank mitra for seamless transactions.

Discussion about money deducted from the bank account and transactions at toll plazas.

Overview of the initiatives by the National Payments Corporation of India related to direct transferring of money.

Explanation of QR codes, their generation, and the advantages they offer in transactions.

Information about payment systems operators in India, including cross-border transactions and alternative payment methods.

Details about the retail payment segments, licensing requirements, technical qualifications, and criteria.

The video discusses the importance of APY, APS, RuPay, and chip PIN debit cards in relation to payments and settlements.

Introduction to Third-Party Application Providers and their role in developing applications for payment and settlement acts.

Discussion on RBI's actions towards unregistered payment processors and the Supreme Court's involvement in regulating them.

Explanation of hybrid SL duo cards, their functions, and usage in the context of ATM card types.

Comparison between magnetic cards and contactless cards, including their technology and usage.

Explanation of RBI's shift to chip systems, the significance of EMV technology, and its application in MasterCard and Visa.

Explaining the concept of a National Common Mobility Card that can be used for various transportation systems like metros and buses, providing convenience and ease of payment.

Discussion on the project by Bharat Heavy Electronics Limited that involves the development of heavy-level equipment in India, showcasing the advancements made by the company in this sector.

Detailed explanation of different types of cards used for transport such as prepaid, debit, and credit cards, highlighting their functions and usability in various transportation systems like railways.

Introduction to the Automatic Fare Collection System used in metro gates for easy fare payment and entry, enhancing the commuter experience with swift and efficient transactions.