Bima Sugam : An Online Insurance Marketplace The Insurance Regulatory and Development Authority of India (IRDAI) has approved the establishment of Bima Sugam, an online insurance marketplace, aimed at simplifying the process of buying, selling, and servicing insurance policies, as well as settling claims. Bima Sugam functions as an e-commerce platform where insurance companies can […]
Category: Economics Current Affairs
Operation Indravati
Operation Indravati: Operation Indravati is an ongoing evacuation mission launched by the Indian government to rescue its nationals from Haiti, a Caribbean nation grappling with widespread gang violence and political instability. The operation, named after the Indravati River in India, aims to ensure the safety and well-being of Indian citizens amidst the escalating crisis in […]
GRID Controller Of India Limited : Miniratna Category-I Status
GRID Controller Of India Limited : Miniratna Category-I Status RID Controller of India Limited (GRID-INDIA) reached a significant milestone as it was designated as a Miniratna Category-I Central Public Sector Enterprise (CPSE) by the Ministry of Power highlighting its pivotal role in the nation’s power sector. Established in 2009, GRID-INDIA oversees the seamless operation of […]
Indo Pacific Economic Framework
Indo Pacific Economic Framework: India has decided to join at least one of the four cooperative work programmes unveiled last week under the ‘clean energy pillar’ of the U.S.-led Indo Pacific Economic Framework (IPEF) – the one on facilitating and promoting carbon-market activities. The Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched […]
Reserve Bank Integrated Ombudsman Scheme : Report
Reserve Bank Integrated Ombudsman Scheme : Report As per a recent report the number of complaints filed under the Reserve Bank’s ombudsman schemes increased by over 68 per cent to 7.03 lakh in the fiscal 2022-23. The complaints pertained to mobile/electronic banking, loans and advances, ATM/debit cards, credit cards, pension payments, remittances, and para banking, […]
ULLAS Initiative
ULLAS Initiative: The Ministry of Education is set to conduct the Foundational Literacy and Numeracy Assessment Test (FLNAT) as part of the ULLAS – Nav Bharat Saaksharta Karyakram. The Understanding Lifelong Learning for All in Society (ULLAS) initiative is poised to revolutionise education and literacy across the nation. It is done by fostering a learning […]
Grievance Redressal Assessment Index : Ranking
Grievance Redressal Assessment Index : Ranking The Ministry of Home Affairs has consistently ranked amongst the top 10 Ministries in 2023-24 in the grievance redressal assessment index (GRAI). Grievance Redressal Assessment Index was conceptualised and designed by the Department of Administrative Reforms and Public Grievances (DARPG), Government of India. Objective is to present an organisation-wise […]
T+0 settlement : SEBI
T+0 settlement : SEBI The Securities and Exchange Board of India (SEBI) recently approved the launch of the beta version of the T+0 settlement on an optional basis. T+0 Settlement means that the funds and securities for a transaction will be settled on the day the trade was entered. At present, the Indian securities markets […]
World Gold Council
World Gold Council: The Reserve Bank of India (RBI) bought 8.7 tonne of gold in January, making it the largest purchase by the central bank since July 2022, according to World Gold Council data. World Gold Council (WGC) is the market development organisation for the gold industry. It is a nonprofit association formed in 1987 […]
What Is Regulatory Sandbox (RS)?
What Is Regulatory Sandbox (RS)? The Reserve Bank of India (RBI) revised the timeline for the completion of various stages of a Regulatory Sandbox (RS) to nine months from the previous seven months. A Regulatory Sandbox (RS) refers to live testing of new products or services in a controlled regulatory environment for which regulators may […]
