Food Safety and Standards Authority (FSSAI)
- FSSAI has clarified that currently there are no standards for the term “health drink” in the country.
- About FSSAI
- Established: Under the Food Safety and Standards Act, 2006
- Ministry: Ministry of Health and Family Welfare
- Role: Laying down science-based standards for articles of food and regulating their manufacture, store, distribution, and sale.
- Organizational Structure: It consists of a Chair person appointed by the Centre along with twenty-two members out of which one-third shall be women
- Tags :
- FSSAI
- Food Safety and Standard Authority of India (FSSAI)
- Food safety regulations
India Post (IP) in Antarctica
- India Post opened a post office at its Bharati station in Antarctica.
- The inauguration coincided with the 24th Foundation Day of the National Centre for Polar and Ocean Research (NCPOR), Goa.
- Earlier, IP had set up post offices at Dakshin Gangotri Station in 1984 and another at Maitri Station in 1990.
- About IP/department of post
- It comes under the Ministry of Communications.
- With more than 1,55,000 post offices, it has the most widely distributed postal network in the world.
- Tags :
- Antarctica
- India Post
Special Rupee Vostro Account (SRVA)
- The government simplified the payment mechanism for pulses import from Myanmar through the utilization of Vostro Accounts
- About Vostro Account
- A Vostro account is a bank account that other foreign banks hold with “our” bank in the domestic currency i.e rupees.
- SRVA is an additional arrangement to the existing system that uses freely convertible currencies and works as a complimentary system.
- Prior RBI approval is required for opening of SRVA
- These accounts reduce the need for holding foreign exchange reserves and dependence on foreign currencies for bilateral transactions.
- Tags :
- SRVA
- vostro account
- special rupee vostro account
Shrinkflation
- Rising input costs have made the fast-moving consumer goods (FMCG) segment to adopt shrinkflation.
- About Shrinkflation
- It is the practice of reducing the size of a product while maintaining its current retail price. e.g., reducing the number of biscuits or chips in a packet for the same price.
- It is a form of hidden inflation, which companies adopt to reduce customers' flee due to price rise.
- Causes: Higher production cost, intense market competition, etc.
- Tags :
- Shrinkflation
- inflation