SBI celebrates 70 years since its formation in 1955: July 1 marks a historic milestone in India’s financial landscape as the State Bank of India (SBI) celebrates its 70th anniversary. Established in 1955, SBI is more than a banking institution—it’s a symbol of India’s economic journey and a trusted partner in national development. From financing […]
Day: July 1, 2025
Goods and Services Tax Day 2025
Goods and Services Tax Day 2025: Every year on July 1st, India celebrates Goods and Services Tax (GST) Day to commemorate the implementation of one of the country’s most transformative economic reforms. Introduced on July 1, 2017, the Goods and Services Tax subsumed multiple indirect taxes and unified the Indian market under a single taxation […]
Bank Lending to Industry Slows to 4.9%
Bank Lending to Industry Slows to 4.9%: The Reserve Bank of India (RBI) reported a significant slowdown in bank credit growth to various sectors, including industry, services, and personal loans. According to the RBI’s sectoral credit report for the fortnight ended May 30, 2025, bank lending to industry grew by only 4.9%, a stark drop […]
India’s Bank GNPAs Fall to Multi-Decade Low of 2.3%
India’s Bank GNPAs Fall to Multi-Decade Low of 2.3%: The Reserve Bank of India (RBI) has reported that gross non-performing assets (GNPAs) in the banking sector declined to a multi-decade low of 2.3% in March 2025, down from 2.6% in September 2024. However, the central bank warned that GNPAs could rise to 2.6% by March […]
Reliance Infra and Coastal Mechanics Launch Defence MRO Hub in Maharashtra
Reliance Infra and Coastal Mechanics Launch Defence MRO Hub in Maharashtra: Reliance Defence, a subsidiary of Reliance Infrastructure, has partnered with U.S.-based defence contractor Coastal Mechanics Inc. (CMI) to establish a cutting-edge Maintenance, Repair, and Overhaul (MRO) facility in Maharashtra. The joint venture will focus on upgrading air and land defence platforms for the Indian […]
SBI to Solarize 4 Million Indian Homes by 2027
SBI to Solarize 4 Million Indian Homes by 2027: The State Bank of India (SBI) has announced its ambitious goal of solarizing 4 million homes by the financial year 2026–27. This initiative is part of SBI’s broader sustainability vision aligned with India’s Net Zero 2070 commitments. The announcement came as SBI celebrated its 70th anniversary, […]
India’s GST Collections Hit Record ₹22.08 Lakh Crore in FY25
India’s GST Collections Hit Record ₹22.08 Lakh Crore in FY25: India’s Goods and Services Tax (GST) regime, implemented in 2017, has shown remarkable growth in revenue collections. In a landmark achievement, gross GST collections reached a record high of ₹22.08 lakh crore in the financial year 2024–25 (FY25), doubling from ₹11.37 lakh crore in FY21. […]
India’s first-ever wooden Gurdwara
India’s first-ever wooden Gurdwara: India’s first-ever wooden Gurdwara, Sri Nanak Niwas, has been built in Fazilka, Punjab, inside the police lines. Constructed entirely from imported Finnish Deodhar wood, the shrine stands as a unique architectural marvel and spiritual sanctuary, attracting devotees from across the country and beyond. This one-of-a-kind Gurdwara was the vision of SSP […]
