SBI celebrates 70 years since its formation in 1955: July 1 marks a historic milestone in India’s financial landscape as the State Bank of India (SBI) celebrates its 70th anniversary. Established in 1955, SBI is more than a banking institution—it’s a symbol of India’s economic journey and a trusted partner in national development. From financing […]
Category: Economics Current Affairs
Goods and Services Tax Day 2025
Goods and Services Tax Day 2025: Every year on July 1st, India celebrates Goods and Services Tax (GST) Day to commemorate the implementation of one of the country’s most transformative economic reforms. Introduced on July 1, 2017, the Goods and Services Tax subsumed multiple indirect taxes and unified the Indian market under a single taxation […]
Bank Lending to Industry Slows to 4.9%
Bank Lending to Industry Slows to 4.9%: The Reserve Bank of India (RBI) reported a significant slowdown in bank credit growth to various sectors, including industry, services, and personal loans. According to the RBI’s sectoral credit report for the fortnight ended May 30, 2025, bank lending to industry grew by only 4.9%, a stark drop […]
India’s Bank GNPAs Fall to Multi-Decade Low of 2.3%
India’s Bank GNPAs Fall to Multi-Decade Low of 2.3%: The Reserve Bank of India (RBI) has reported that gross non-performing assets (GNPAs) in the banking sector declined to a multi-decade low of 2.3% in March 2025, down from 2.6% in September 2024. However, the central bank warned that GNPAs could rise to 2.6% by March […]
India’s GST Collections Hit Record ₹22.08 Lakh Crore in FY25
India’s GST Collections Hit Record ₹22.08 Lakh Crore in FY25: India’s Goods and Services Tax (GST) regime, implemented in 2017, has shown remarkable growth in revenue collections. In a landmark achievement, gross GST collections reached a record high of ₹22.08 lakh crore in the financial year 2024–25 (FY25), doubling from ₹11.37 lakh crore in FY21. […]
Ravi Agrawal’s Tenure as CBDT Chairman Extended Till June 2026
Ravi Agrawal’s Tenure as CBDT Chairman Extended Till June 2026: The Government of India has extended the tenure of Ravi Agrawal as the Chairman of the Central Board of Direct Taxes (CBDT) till June 2026. This reappointment, approved by the Appointments Committee of the Cabinet (ACC), ensures leadership continuity in India’s apex direct tax policy-making […]
Post Offices to Accept UPI Payments Nationwide by August 2025
Post Offices to Accept UPI Payments Nationwide by August 2025: The Department of Posts has announced that all post offices in India will start accepting digital payments at their counters by August 2025. This transformation is enabled by a robust IT infrastructure upgrade known as IT 2.0, which introduces dynamic QR code-based payment integration with […]
RBI Tightens AePS Rules to Combat Fraud From January 2026
RBI Tightens AePS Rules to Combat Fraud From January 2026: The Reserve Bank of India (RBI) has issued a set of stringent new guidelines aimed at strengthening the operational framework of AePS touchpoints. Effective from January 1, 2026, the revised norms require stricter KYC, activity monitoring, and a ‘one operator-one acquiring bank’ rule for touchpoint […]
India’s External Debt Rises 10% to $736.3 Billion: RBI Data
India’s External Debt Rises 10% to $736.3 Billion: RBI Data: India’s external debt surged by 10% to reach $736.3 billion at the end of March 2025, up from $668.8 billion a year earlier, according to the latest data released by the Reserve Bank of India (RBI). This increase has also pushed the external debt-to-GDP ratio […]
Karnataka Bank MD and Executive Director resign
Karnataka Bank MD and Executive Director resign: Karnataka Bank’s Managing Director & CEO, Srikrishnan Hari Hara Sarma, and Executive Director Sekhar Rao have tendered their resignations, both citing personal reasons. The resignations, effective in July 2025, come amid the bank’s ongoing transformation drive. In response, the Board of Directors has formed a search committee to […]
