First Loss Default Guarantee (FLDG) System: RBI Two months after the Reserve Bank issued guidelines on digital lending, banks, NBFCs and fintech players are still awaiting clarity on many aspects, including the FLDG system. FLDG is a lending model between a fintech and a regulated entity in which a third party guarantees to compensate up […]
Category: Economics Current Affairs
Four-Tiered Regulatory Framework For Categorisation Of Urban Co-operative Banks
Four-Tiered Regulatory Framework For Categorisation Of Urban Co-operative Banks: The Reserve Bank of India (RBI) recently announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs). According to RBI, such framework is needed to balance the spirit of mutuality and co-operation more prevalent in banks of smaller sizes and those with limited area […]
Community Innovator Fellowship program
Community Innovator Fellowship program: Atal Innovation Mission (AIM), NITI Aayog has recently announced the launch of applications for Community Innovator Fellowship (CIF). The initiative aims at facilitating knowledge building and provides infrastructure support to aspiring community innovators essential for their entrepreneurship journey. Currently there are 22 Community Innovator fellows being incubated at the Atal […]
DigiYatra : Functional At Three Airports In The Country
DigiYatra : Functional At Three Airports In The Country Digi Yatra is now functional at three airports in the country. Digi Yatra is a project conceived to achieve contactless, seamless processing of passengers at Airports, based on Facial Recognition Technology (FRT) Launched by the Ministry of Civil Aviation Digi Yatra Foundation, a not-for-profit company, is […]
India’s Economic Growth Data : FY 2022-23
India’s Economic Growth Data: The Ministry of Statistics and Programme Implementation (MoSPI) released India’s economic growth data for the second quarter of the current financial year (2022-23 or FY23). The second quarter or Q2 refers to the months of July, August and September. India’s Gross Domestic Product (GDP) grew by 6.3 per cent in Q2 […]
Saharsa(Bihar) : First District To Be Declared Paperless
Saharsa(Bihar) : First District To Be Declared Paperless Saharsa became the first district in Bihar to be declared paperless (e-office) with an aim to end the Great Indian Red Tape. Red Tape: It is a derisive term for excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or […]
First Pilot For The Retail Digital Rupee : RBI
First Pilot For The Retail Digital Rupee : RBI The Reserve Bank of India announced the launch of the first pilot for the retail digital Rupee on 1st December 2022. Eight banks have been identified for phase-wise participation in this pilot. The first phase will begin with four banks including State Bank of India, ICICI […]
FIRSTAP : India’s First Sticker-Based Debit Card
FIRSTAP : India’s First Sticker-Based Debit Card IDFC First Bank, in association with the National Payments Corporation of India (NPCI), recently launched FIRSTAP – India’s first sticker-based debit card. The IDFC FIRST Bank was established following the merger of the erstwhile IDFC Bank A sticker-based debit card allows the user to make transactions by simply […]
Data On Daily Wage Payments In India : RBI
Data On Daily Wage Payments In India : RBI The Reserve Bank of India (RBI) released data on daily wage payments in India. Findings: In Madhya Pradesh (MP), male agricultural workers in rural areas got a daily wage of just Rs 217.8 while in Gujarat, it worked out to Rs 220.3 in the year ended […]
NIEPA : Diamond Jubilee Anniversary
NIEPA : Diamond Jubilee Anniversary National Institute of Educational Planning and Administration (NIEPA) recently celebrated the Diamond Jubilee anniversary of its establishment. It was established by the Ministry of Human Resource Development (now Ministry of Education), Government of India. It is a premier organization dealing with capacity building and research in planning and management of […]
