Framework Or Recognising Self-Regulatory Organisation For The FinTech Sector (SRO-FT) : RBI The Reserve Bank of India (RBI) recently issued the Framework for Recognising Self-Regulatory Organisation for the FinTech Sector (SRO-FT) for better self-governance and compliance by firms in this space. The framework defines fintech as entities providing technological solutions for delivery of financial products […]
Category: Economics Current Affairs
New System To Identify Scam/Fraud Calls
New System To Identify Scam/Fraud Calls: Department of Telecom (DoT) recently introduced a new tool to identify genuine calls from those made by fraudsters. The DoT has allocated a dedicated 10-digit numbering series starting with 160 for service and transactional calls made by the government, regulators, and financial entities. These 10-digit numbers will include additional […]
RBI New Initiatives
RBI New Initiatives: RBI Governor recently unveiled three major initiatives of the Reserve Bank, namely the Pravaah portal, the Retail Direct Mobile App and a FinTech Repository. Pravaah Portal: Pravaah (Platform for Regulatory Application, Validation, and AutHorisation) is a secure and centralised web-based portal for any individual or entity to seek authorisation, license, or regulatory […]
ZiG : Reserve Bank Of Zimbabwe
ZiG : Reserve Bank Of Zimbabwe To address its long-standing economic instability, the Reserve Bank of Zimbabwe (RBZ) has launched a new gold-backed currency called the ZiG. The Zimbabwe Gold (ZiG) is a new gold-backed currency launched by Zimbabwe. The ZiG, now the sixth currency used by Zimbabwe, has been in circulation since April 5, […]
Business Responsibility And Sustainability Reporting Initiative
Business Responsibility And Sustainability Reporting Initiative: Delhi-based think tank Centre for Science and Environment (CSE) welcomed the Business Responsibility and Sustainability Reporting (BRSR) initiative by the Securities and Exchange Board of India (SEBI). Business Responsibility and Sustainability Reporting Initiative is a mandatory disclosure mechanism for top 1000 listed companies or businesses to report their performance […]
India’s Top Trading Partners
India’s Top Trading Partners: India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners in 2023-24, according to official data. China has emerged as India’s largest trading partner with $118.4 billion of two-way commerce in 2023-24, surpassing the US. The bilateral trade between India and […]
Cost Inflation Index
Cost Inflation Index: The income tax department has notified the Cost Inflation Index for the current fiscal beginning April 2024. Cost Inflation Index is used to adjust the purchase price of assets on the basis of inflation. It is notified under the Income-tax Act, 1961 every year. It helps an individual to ascertain the inflation-adjusted […]
RBI Surplus Transfer To Government
RBI Surplus Transfer To Government: The surplus calculation was based on the Economic Capital Framework (ECF) recommended by the Bimal Jalan committee, which advised the RBI to maintain a Contingent Risk Buffer (CRB) between 5.5% and 6.5% of its balance sheet. This risk provisioning is made primarily from retained earnings and only then is the […]
Asset Reconstruction Companies
Asset Reconstruction Companies: The Reserve Bank of India (RBI) has raised supervisory concerns regarding the functioning of asset reconstruction companies (ARCs). Asset Reconstruction Companies (ARCs) are financial institutions that acquire and manage stressed assets from banks and financial institutions. Registered under Section 3 of the SARFAESI Act, 2002, ARCs face several challenges, including issues like […]
National Savings Certificate: Investment
National Savings Certificate: Investment The Prime Minister recently declared Rs 9.12 lakh investment in the National Savings Certificate (NSC) scheme in his nomination filing. National Savings Certificate (NSC) is a fixed-income investment scheme launched by the government of India. It aims at encouraging users, who are primarily low- to mid-income investors, to invest as well […]
