Financial Intelligence Unit- India: The Director, Financial Intelligence Unit-India (FIU-IND) has issued notices for non-compliance to following fifteen (15) Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act, 2002(PMLA). It was set by the Government of India in 2004. It is the central national agency responsible for […]
Category: Economics Current Affairs
Digital Hawala
Digital Hawala: The Financial Action Task Force (FATF) has flagged the growing use of digital hawala for money laundering and terror financing.Its latest report notes that nearly 70% of surveyed jurisdictions have detected the use of new technologies in underground banking networks. Digital hawala is the technology-enabled evolution of the traditional informal hawala system, where […]
Asian-Pacific Postal Union
Asian-Pacific Postal Union: Vinaya Prakash Singh, a 1988 batch officer of the Indian Postal Service, has been recently reelected as Secretary-General of the Asian-Pacific Postal Union (APPU) for a second consecutive four-year term. Asian-Pacific Postal Union (APPU) is an intergovernmental organization of 32 member countries of the Asian-Pacific region. Headquarters: Bangkok, Thailand. It is the […]
India’s 7.8% GDP Growth Debate:
India’s 7.8% GDP Growth Debate: The MoSPI rejected claims that India’s Q1 FY 2026–27 real GDP growth of 7.8% was inflated, stating that estimates use the 2022–23 base year, Producer Price Indices (PPI), and double-deflation methodology. Real GDP reached ₹81.36 lakh crore (7.8% YoY growth), while nominal GDP reached ₹88.27 lakh crore (10.3% YoY growth). […]
Banks Seek CRR Cut on Green Deposits
Banks Seek CRR Cut on Green Deposits: In a significant move to accelerate India’s transition towards a net-zero economy, public sector banks have approached the Reserve Bank of India (RBI) seeking a reduction in the Cash Reserve Ratio (CRR) applicable to green deposits. Banks have advocated for an initial CRR reduction of up to 100 […]
9th Foundation Day of India Post Payments Bank (IPPB)
9th Foundation Day of India Post Payments Bank (IPPB): India Post Payments Bank (IPPB) celebrated its 9th Foundation Day (IPPB Day 2026) on 1st September 2026. India Post Payments Bank (IPPB) was launched on 1st September 2018 under the Department of Posts, Ministry of Communications, with 100% equity ownership by the Government of India. IPPB […]
National Bank for Financing Infrastructure and Development : In News
National Bank for Financing Infrastructure and Development: In News The National Bank for Agriculture and Rural Development and the National Bank for Financing Infrastructure and Development (NaBFID) have signed an MoU for financing infrastructure projects with significant rural impact. It is a specialized Development Finance Institution in India. It is aimed at supporting the country’s […]
Information Technology Resilience Index
Information Technology Resilience Index: The Securities and Exchange Board of India (SEBI) has introduced an Information Technology Resilience Index (ITRI) for market infrastructure institutions (MIIs). Information Technology Resilience Index is introduced to assess the functioning and resilience of information technology systems of market infrastructure institutions (MIIs), including stock exchanges, depositories and clearing corporations. It is […]
Surge in India’s Merchandise Exports
Surge in India’s Merchandise Exports: Data released by the Ministry of Commerce and Industry revealed that India’s merchandise exports surged by nearly 20% year-on-year in July 2026, reaching USD 44.2 billion. This growth has been achieved despite the ongoing geopolitical turmoil in West Asia, driven largely by strategic market diversification and the rerouting of maritime […]
India Becomes World’s 2nd-Largest Supplier of Seafarers
India Becomes World’s 2nd-Largest Supplier of Seafarers: India has emerged as the world’s second-largest supplier of seafarers to the global shipping industry, according to the BIMCO-ICS Seafarer Workforce Report 2026, marking a major milestone in India’s maritime sector. India contributes 311,936 seafarers, accounting for 12.16% of the global seafaring workforce. The Philippines remains the largest […]
