UN Allocates $100 Million for Humanitarian Crises in 10 Countries: The United Nations has allocated $100 million from the Central Emergency Response Fund (CERF) to address critical humanitarian needs in 10 countries across Africa, the Middle East, Asia, and the Caribbean.
Category: Economics Current Affairs
RBI Imposes Penalties on UCO Bank and Cent Bank Home Finance Ltd
RBI Imposes Penalties on UCO Bank and Cent Bank Home Finance Ltd: The Reserve Bank of India (RBI) has levied penalties on two financial entities for regulatory non-compliance. UCO Bank has been fined Rs 2.68 crore for violating provisions related to current account openings, deposit interest rates, and fraud classification.
NHPC, SECI, Railtel, and SJVN Gain Navratna Status
NHPC, SECI, Railtel, and SJVN Gain Navratna Status: Finance Minister Nirmala Sitharaman granted ‘Navratna’ status to four Central Public Sector Enterprises (CPSEs): NHPC, Solar Energy Corporation of India (SECI), Railtel Corporation of India (RCIL), and Satluj Jal Vidyut Nigam (SJVN).
Bonus Issue
Bonus Issue: Reliance Industries Chairman recently announced a bonus issue for the company’s shareholders in a 1:1 criterion. A bonus issue, also known as a scrip issue or a capitalization issue, occurs when a company listed on a stock exchange decides to offer free additional shares to the existing shareholders. The company decides the number […]
Unified Payments Interface (UPI) block mechanism
Unified Payments Interface (UPI) block mechanism: Securities and Exchange Board of India (SEBI) proposed mandatory Unified Payments Interface (UPI) block mechanism facility for secondary market trading using the UPI-based block mechanism to their clients.It is similar to the Application Supported by Blocked Amount (ASBA) facility that allows trading with blocked amounts.
National Council of Applied Economic Research
National Council of Applied Economic Research: Monthly Economic Review of the National Council of Applied Economic Research (NCAER) for August acknowledges that the domestic economy remains resilient. However, it highlighted moderation in certain high-frequency indicators, such as industrial output and core sectors’ performance in June.
LIC Pays ₹3,662 Crore Dividend To Indian Government
LIC Pays ₹3,662 Crore Dividend to Indian Government: Life Insurance Corporation of India (LIC) presented a dividend cheque of ₹3,662.17 crore to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. This follows the shareholder approval of a final dividend of ₹6 per share for 2023-24, up from ₹3 per share in the previous fiscal year
Agriculture Infrastructure Fund (AIF) Scheme
Agriculture Infrastructure Fund (AIF) Scheme: The Central Government recently expanded the scope of the Agricultural Infrastructure Fund (AIF) scheme to make it more attractive, as part of its objective to strengthen farm-related infrastructure facilities in the country. Agriculture Infrastructure Fund (AIF) Scheme is a Central Sector Schemewhich was launched in 2020. The scheme shall provide […]
Perpetual bond
Perpetual bond: Canara Bank issued India’s first Additional Tier I perpetual bonds since recent rule changes, attracting strong investor interest with a lower-than-expected coupon of 8.27%.This marks a revival in demand for these bonds, which had declined due to regulatory challenges. The Securities and Exchange Board of India’s (SEBI) recent valuation tweak, allowing mutual funds […]
Unified Lending Interface : RBI
Unified Lending Interface: RBI Governor announced that the Unified Lending Interface (ULI), designed for seamless and quick credit access, particularly for MSMEs and farmers, is currently in the pilot stage.The platform integrates diverse data sources to reduce loan appraisal times and simplify processes. It is expected to be launched nationwide soon, with the potential to […]
