Revised Prompt Corrective Action (PCA) Framework For Banks: The RBI has issued a revised Prompt Corrective Action (PCA) framework for banks to enable supervisory intervention at “appropriate time” and also act as a tool for effective market discipline. The revised PCA framework will be effective from January 1, 2022. Capital, asset quality and leverage will […]
Category: Economics Current Affairs
Asset Reconstruction Companies (ARCs): RBI
Asset Reconstruction Companies (ARCs):RBI To streamline the functioning of asset reconstruction companies (ARCs), the Reserve Bank panel has come out with a host of suggestions. The RBI had set up a committee headed by Sudarshan Sen to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and […]
PM Gati Shakti National Master Plan (NMP)
PM Gati Shakti National Master Plan (NMP): The Centre has constituted a 20-member Empowered Group of Secretaries (EGoS), which will be a monitoring mechanism for the development and implementation of the PM Gati Shakti National Master Plan (NMP). The Cabinet Secretary will be its Chairperson. The Members of this Empowered Group include Chairman, Railway Board, […]
Informal Sector
Informal Sector: Signalling a greater shift towards formalisation of the economy, the share of the large informal sector in overall economic activity dipped sharply in 2020-21 even as informal workers continue to bear the brunt of the pandemic’s adverse effects, the SBI said in a research report. The share of the informal economy may have […]
MGNREGA Runs Out of Fund
MGNREGA: The Centre’s flagship rural employment scheme (MGNREGA) has run out of funds halfway through the financial year. This means that payments for MGNREGA workers as well as material costs will be delayed, unless the States dip into their own funds. Earlier, the government introduced the category-wise wage payment system for SC, ST and others, […]
SWAMIH Fund
SWAMIH Fund: The SWAMIH (Special Window for Affordable & Mid-Income Housing) fund has made its first complete exit from an investment made for completion of a residential project in Mumbai. It has already completed over 1,500 homes in seven projects and is on track to complete at least 10,000 homes every year. This is a […]
RBI Eased Current Account Rules
Current Account Rules: The Reserve Bank of India eased Current Account Rules for bank exposures less than five crore rupees allowing lenders to open current accounts, cash credit and overdraft facilities without any restriction. The Apex Bank asked banks to implement the changes within one month. For borrowers, where the exposure of the banking system […]
Countering America’s Adversaries Through Sanctions Act (CAATSA)
Countering America’s Adversaries Through Sanctions Act (CAATSA): Key lawmakers continue to voice their support for a sanctions waiver for India for its purchase of the S-400 missile defence system from Russia. India is likely to begin taking delivery of the S-400 in November, potentially activating U.S. sanctions under a 2017 law, Countering America’s Adversaries Through […]
GST Compensation
GST Compensation: The Ministry of Finance has released ₹44,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. After taking into account earlier release of ₹ 1,15,000 crore (₹ 75,000 crore released on 15th July, 2021 and ₹ 40,000 crore released on 07th October, 2021), total […]
Project Readiness Financing (PRF) Loan for Mizoram
Asian Development Bank (ADB): The Indian government and the Asian Development Bank (ADB) signed a USD 4.5 million Project Readiness Financing (PRF) loan to support urban mobility in Mizoram. Earlier, the ADB and the Government of India signed a USD 484 million loan to improve transport connectivity and industrial development in the Chennai – Kanyakumari […]
