Category: Economics Current Affairs

RBI Fines Federal Bank & Karur Vysya Bank for Rule Violations: The RBI has imposed a total penalty of ₹35.60 lakh on Federal Bank (₹27.30 lakh) and Karur Vysya Bank (₹8.30 lakh) for regulatory non-compliance. FB was fined for opening savings accounts for ineligible entities, violating deposit rules, while Karur Vysya Bank failed to meet […]

Over 54.5 Crore Jan Dhan Accounts Opened till Jan 15: As of January 15, 2025, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has surpassed a significant milestone, with over 54.58 crore bank accounts opened. What makes this achievement even more remarkable is that 55.7% of these accounts belong to women, highlighting the scheme’s role in […]

RBI Defers Liquidity Coverage Ratio and Project Financing Norms to 2026: The RBI has deferred the implementation of Liquidity Coverage Ratio (LCR) and project financing norms by a year, now set for March 31, 2026. Originally planned for April 1, 2025, these norms required banks to maintain higher liquid assets, potentially impacting ₹4 lakh crore […]

RBI Clears Tata Communications’ Payment Arm Sale to Findi: The Reserve Bank of India has approved Tata Communications’ sale of its entire stake in Tata Communications Payment Solutions Ltd to Australian fintech Findi’s subsidiary, Transaction Solutions International for ₹330 crore, with an additional ₹75 crore contingent on interchange rate adjustments.

India Secures Place on UN’s Honour Roll for Timely Budget Payment: India has once again demonstrated its commitment to global cooperation by making a timely payment to the United Nations (UN) regular budget. On January 31, 2024, India contributed USD 32.895 million to the UN, securing its place on the prestigious Honour Roll, which acknowledges […]

SEBI Penalizes DB Realty and Associates for Financial Misstatements: The Securities and Exchange Board of India (SEBI) has imposed a total fine of ₹25 lakh on DB Realty Ltd (now known as Valor Estate Ltd) and seven associated individuals for violations related to financial misstatements and non-disclosures. The penalties were levied due to the company’s […]

SBI’s Q3 FY25: State Bank of India (SBI) reported an 84% rise in net profit for Q3 FY25, surpassing market expectations. The bank’s net interest income (NII) increased by 4%, while employee expenses declined significantly. SBI demonstrated strong loan growth, improved asset quality, and higher deposit mobilization. Despite a dip in CASA ratio, the overall […]

Social Security Cover for Gig Workers:   The 2025 Budget introduced health insurance and identity registration for gig workers to improve their social security. While this addresses basic welfare needs, challenges in enforcement and sustainability remain.The gig workforce constitutes 12% of the global labour market (World Bank) and is expected to reach 23.5 million in […]

RBI Launches ‘Bank.in’ & ‘Fin.in’ for Secure Digital Banking: The Reserve Bank of India (RBI) has announced the introduction of exclusive internet domain names for Indian banks and financial institutions. Indian banks will now have the domain ‘Bank.in’, while non-banking financial entities will be assigned ‘Fin.in’.This initiative, unveiled by RBI Governor Sanjay Malhotra during the […]

K Balasubramanian Appointed as New Citibank India Head: K Balasubramanian has been named Citibank’s India Subcontinent Sub-Cluster and Banking Head, replacing Ashu Khullar, pending RBI approval. He will report to Amol Gupte, marking a key leadership transition amid Citi India’s strong growth under Khullar.