GLOSSARY
- Effective Revenue Deficitis the difference between revenue deficit and grants for creation of capital assets.
- Open market operations is the sale and purchase of government securities and treasury bills by RBI or the central bank of the country.
- NSE co-location scam – The NSE co-location scam relates to the market manipulation at the National Stock Exchange of India, India’s leading stock exchange. Allegedly select players obtained market price information ahead of the rest of the market, enabling them to front run the rest of the market, possibly breaching the NSE’s purpose of demutualisation exchange governance and its robust transparency-based mechanism
- Co-lending – Two banks/Bank+NBFCs giving loans to a borrower.
- Nonfeasance – officer not doing work when required
- Malfeasance – officer doing wrong/illegal action, mainly for Corruption / vendetta / favoritism.
- Overfeasance – officer exceeds the limits of his power regardless of whether the action is for good or ill.
E.g. Life Insurance Corporation (LIC) is a statutory corporation so its employees are not considered Govt employees /Civil servants- like the Traditional Secretariat staff, Tehisildar etc. Gujarat State Election Commission (SEC) ordered them election duty for local bodies election- Citing extraordinary shortage of staff due to Corona vaccination drive.