Reserve Bank Innovation Hub: Bengaluru The Reserve Bank of India (RBI) governor inaugurated the Reserve Bank Innovation Hub (RBIH) in Bengaluru. It has been set up as a Section 8 company under the Companies Act, 2013 with an initial capital contribution of Rs. 100 crore. It is is a wholly owned subsidiary of the RBI. […]
Category: Economics Current Affairs
Labour-Intensive Bharatiya Economic Model : RSS
Labour-Intensive Bharatiya Economic Model : RSS The RSS has passed a resolution calling for a labour-intensive Bharatiya Economic Model in view of rising unemployment in the country. Society must come forward and participate in building an Atmanirbhar Bharat where the economic model is based on Indian values. The model should be human-centric, labour intensive, eco-friendly […]
New Microfinance Lending Norms: RBI
New Microfinance Lending Norms: RBI RBI has released new microfinance lending norms. As per these norms: All entities, banks, non-banking financial companies (NBFCs), and microfinance institutions (MFIs) are subject to the same regulations. A microfinance loan is defined by the RBI as a ‘collateral-free’ loan granted to a household with an annual household income of […]
The Global Entrepreneurship Monitor Project
The Global Entrepreneurship Monitor Project: The Global Entrepreneurship Monitor (GEM) is an international project which seeks to provide information on the entrepreneurial landscape of countries. GEM carries out survey-based research on entrepreneurship and entrepreneurship ecosystems around the world and is being led by Entrepreneurship Development Institute of India, Ahmedabad. As per Global Entrepreneurship Monitor (GEM) […]
Non-Performing Assets of MSMEs Due to COVID-19
What Is a Non-Performing Asset? Despite a host of loan restructuring schemes and packages announced by the Reserve Bank of India (RBI) and the government, the Covid pandemic has hit the Micro, Small and Medium Enterprises (MSMEs) very hard. Gross Non-Performing Assets (NPAs) of MSMEs, or loans defaulted by these enterprises, rose by Rs 20,000 […]
Regulatory Framework For Microfinance Loans: Highlights
Regulatory Framework For Microfinance Loans: Highlights The Reserve Bank of India (RBI) allowed Microfinance Institutions(MFI) the freedom to set interest rates they charge borrowers, with a caveat that the rates should not be usurious. The guidelines will take effect 1st April 02022. Earlier in 2021, the RBI proposed to lift the interest rate cap on […]
37th Foundation Of National Crime Records Bureau
37th Foundation Of National Crime Records Bureau: The 37th Foundation Day of National Crime Records Bureau (NCRB) was celebrated (11th March 1986) . NCRB, headquartered in New Delhi, was set-up in 1986 under the Ministry of Home Affairs to function as a repository of information on crime and criminals so as to assist the investigators […]
Employees’ Provident Fund Organisation (EPFO) Interest Rate 2021-2022
Employees Provident Fund Organisation (EPFO) : Key Points Union Minister for Labour & Employment announced the Employees’ Provident Fund Organisation (EPFO) interest rate for the year 2021-2022 after chairing the two-day long meeting of the 230th Central Board of Trustees (CBT) at Guwahati. The return on workers’ retirement savings parked with the Employees’ Provident Fund […]
Current Account Deficit : Key Points
Current Account Deficit : Key Points An American financial services company Morgan Stanley has predicted that the Current Account Deficit will widen to a 10-year high of 3% of GDP in FY23. In the wake of continued geopolitical tensions, the surge in oil prices is likely to be sustained, which would lead to deterioration […]
MSME Innovative Scheme: Key Points
MSME Innovative Scheme: Key Points The Ministry of MSME (Medium, Small and Micro Enterprises) has launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME IDEA HACKATHON 2022. It is the combination of existing sub-schemes around incubation, design, and Intellectual Property Rights (IPR) for MSMEs. The government also announced equity support of […]
