RBL Bank Teams Up with IndianOil for New Credit Card: Private sector lender RBL Bank has launched a new credit card in collaboration with Indian Oil Corporation, named ‘Xtra Credit Card,‘ as part of its strategy to moderately grow its credit card portfolio and enhance customer engagement.
Category: Economics Current Affairs
RBI imposes penalties on Godrej Housing, HUDCO, and Aadhar Housing Finance
RBI imposes penalties on Godrej Housing, HUDCO, and Aadhar Housing Finance: The Reserve Bank of India (RBI) has levied penalties on three Non-Banking Financial Companies (NBFCs) for failing to comply with its directives on housing finance companies. The penalties are as follows: Godrej Housing Finance Limited and Aadhar Housing Finance Limited were each fined Rs […]
INDIAsize Initiative
INDIAsize Initiative: The government will soon roll out the much-awaited ‘INDIAsize’ initiative, the Union Textiles Minister said recently. INDIAsize Initiative is an initiative of the Ministry of Textiles which aims to establish standardized measurements designed to better suit Indian body types. Presently, international and domestic brands available in India use measurements from the US or […]
Indian-Americans featured in TIME 100 Most Influential People in AI 2024
Indian-Americans featured in TIME 100 Most Influential People in AI 2024: TIME Magazine’s ‘TIME100 Most Influential People in AI 2024’ list celebrates 15 Indian or Indian-origin individuals, showcasing their contributions to the AI landscape.
SBI Foundation Launches 3rd Edition of Asha Scholarship Program
SBI Foundation Launches 3rd Edition of Asha Scholarship Program: The State Bank of India (SBI) Foundation has unveiled the third edition of its flagship initiative, the SBI Asha Scholarship Programme. This ambitious program aims to support 10,000 talented students from underprivileged backgrounds across India, offering substantial financial assistance to help them pursue their educational dreams.
Centralized Pension Payment System
Centralized Pension Payment System: The Union Minister of Labour and Employment and Chairperson, Central Board of Trustees, EPF has approved the proposal for a Centralized Pension Payment System (CPPS) for the Employees’ Pension Scheme, 1995. Centralized Pension Payment System provides a national-level centralized system allowing pension payouts through any bank or branch in India. This […]
Vertical Fiscal Imbalance
Vertical Fiscal Imbalance: There is the problem of Vertical Fiscal Imbalance (VFI) in Indian fiscal federalism, where expenditure decentralization overwhelms the revenue-raising powers of the States. Vertical Fiscal Imbalance (VFI) is defined as the share of sub-national governments’ own spending not financed through their own revenues. A VFI describes a situation in which revenues do […]
Tamil Nadu’s Rising Fintech Paysharp Secures RBI Authorization
Tamil Nadu’s Rising Fintech Paysharp Secures RBI Authorization: In a significant development for India’s fintech landscape, Paysharp, an emerging startup from Tamil Nadu, has achieved a major milestone. On August 30, 2024, the Reserve Bank of India (RBI) granted Paysharp its final authorization, cementing the company’s position in India’s dynamic payment system ecosystem.
AgriSURE Fund
AgriSURE Fund: The Union Minister for Agriculture and Farmers’ Welfare and Rural Development launched the AgriSURE Scheme in New Delhi. AgriSURE Fund for Start-ups & Rural Enterprises (AgriSURE) is an innovative fund which is a pioneering step toward revolutionizing the agricultural landscape in India. It mainly focuses on technology-driven, high-risk, high-impact ventures. It is designed […]
Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore
Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore: The Union Ministry of Finance plans to divest a 6.78% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale (OFS) to raise approximately Rs 4,700 crore. This will be the first stake sale since GIC Re’s listing in 2017.
