IndusInd Bank Becomes Official Banking Partner of PGTI: IndusInd Bank has announced its partnership with the Professional Golf Tour of India (PGTI) as its official Banking Partner. This collaboration aims to enhance the banking experience for Ultra High Net Worth Individuals (UHNIs) and High Net Worth Individuals (HNIs) under the PIONEER banking program. The partnership […]
Category: Economics Current Affairs
Rupee & Dollar Swap Auctions
Rupee & Dollar Swap Auctions: RBI announced a $10 billion USD/INR buy/sell swap auction to inject ₹86,000 crore into the banking system.It is a tool used by RBI to manage liquidity in the economy and stabilize currency volatility. Banks sell US dollars to RBI in exchange for rupees in the first leg and agree to […]
Sabyasachi Kar Named Director of Institute of Economic Growth
Sabyasachi Kar Named Director of Institute of Economic Growth: Professor Sabyasachi Kar has been appointed as the new Director of the Institute of Economic Growth (IEG), New Delhi, effective February 6, 2025. He takes over from Professor Chetan Ghate, bringing with him vast academic and policy-making experience. IEG, known for its contributions to economic and […]
Ex Gratia Payment
Ex Gratia Payment: The Ministry of Railways handed over wads of cash in bundles of notes of Rs 100 and 50 after announcing that it would provide Rs 10 lakh ex-gratia to the kin of the 18 deceased in the stampede at the New Delhi Railway Station recently. It is a type of payment made […]
Shaktikanta Das Appointed Principal Secretary-2 to PM Modi
Shaktikanta Das Appointed Principal Secretary-2 to PM Modi: The government has appointed retired IAS officer and former Reserve Bank of India (RBI) Governor Shaktikanta Das as Principal Secretary-2 to Prime Minister Narendra Modi. Das is the first Principal Secretary to have extensive experience in both fiscal and monetary policy, making his appointment crucial at a […]
Bank Credit to NBFCs Falls to 4-Year Low at 6.7% in 2024: RBI
Bank Credit to NBFCs Falls to 4-Year Low at 6.7% in 2024: RBI Bank lending to Non-Banking Financial Companies (NBFCs) has slowed significantly, hitting a four-year low of 6.7% in 2024, according to the latest data from the Reserve Bank of India (RBI). This decline is mainly due to higher risk weights imposed on such […]
HAL & DIAT Collaborate for Aerospace Innovation
HAL & DIAT Collaborate for Aerospace Innovation: Hindustan Aeronautics Limited (HAL) has taken a significant step in bridging the gap between industry and academia by signing a Memorandum of Understanding (MoU) with the Defence Institute of Advanced Technology (DIAT), Pune. The collaboration aims to foster cutting-edge research, skill development, and technological advancements in the aerospace […]
Purchasing Managers’ Index
Purchasing Managers’ Index: India’s Purchasing Managers’ Index (PMI) rose for first time after three quarters. It is an indicator of business activity – both in the manufacturing and services sectors. It is a survey-based measure that asks the respondents about changes in their perception of some key business variables from the month before. It is […]
RBI Penalties
RBI Penalties: The RBI has imposed penalties on Citibank (₹39 lakh), Asirvad Micro Finance (₹6.20 lakh), and JM Financial Home Loans (₹1.50 lakh) for regulatory violations. Citibank failed to report large exposure breaches on time and delayed credit data corrections.According to the central bank, these financial institutions were found violating guidelines related to large exposures, […]
SEBI Fines Axis Securities ₹10 Lakh for Rule Violations
SEBI Fines Axis Securities ₹10 Lakh for Rule Violations: The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹10 lakh on Axis Securities for multiple violations of stockbroker regulations. The regulatory action follows an inspection covering the period from April 2021 to November 2022. SEBI found several lapses in compliance, including […]
