Prepaid Payment Instruments: RBI A committee set up to review the Customer Service Standards in RBI Regulated Entities has recommended that the central bank should examine the extension of Deposit Insurance and Credit Guarantee Corporation (DICGC) cover to PPI. Prepaid Payment Instruments are instruments that facilitate the purchase of goods and services, conduct of financial […]
Category: Economics Current Affairs
Peer-To-Peer (P2P) Lending
Peer-To-Peer (P2P) Lending: After digital payments and digital lending, the Reserve Bank of India is looking closely at platforms that facilitate direct, or peer-to-peer (P2P), lending between individuals. Peer-to-Peer (P2P) lending is done through a website that connects borrowers and lenders directly. Those who want to lend money, open an account with a P2P platform […]
National Institutional Ranking Framework (NIRF) 2023
National Institutional Ranking Framework (NIRF) 2023: The Minister of State for Education released the National Institutional Ranking Framework (NIRF) 2023. Highlights of NIRF 2023: Indian Institute of Technology Madras retains its 1st position in Overall Category and Engineering. Indian Institute of Science, Bengaluru tops the Universities Category and stood first in Research Institutions Category. IIM […]
National E-Commerce Policy
National E-Commerce Policy: The Indian government is set to introduce a national e-commerce policy that aims to create a favorable environment for the development of the sector and drive exports. The e-commerce policy was first proposed in 2018 and in 2019, a draft of the e-commerce policy was released. Department for Promotion of Industry and […]
Draft Guidelines For Bima Vahak
Draft Guidelines For Bima Vahak: IRDAI (Insurance Regulatory and Development Authority of India) has issued a draft Guidelines for Bima Vahak, which is a dedicated distribution channel to reach out to rural areas with the aim to improve insurance penetration in the Hinterland. Bima Vahak Program is one of the components of IRDAI’s “Insurance for […]
Inter-Ministerial Committee (IMC) For World’s Largest Grain Storage Plan
Inter-Ministerial Committee (IMC) For World’s Largest Grain Storage Plan: The Union Cabinet approved forming and empowering an Inter-Ministerial Committee (IMC) to create the world’s largest grain storage plan in the cooperative sector. In order to ensure time-bound and uniform implementation of the Plan in a professional manner, the Ministry of Cooperation will implement a pilot […]
Evergreening Of Loans : RBI
Evergreening Of Loans : RBI The Governor of the Reserve Bank of India (RBI), recently addressed bank boards and expressed concerns about banks adopting over-aggressive growth strategies and engaging in the evergreening of loans. The governor emphasized the need for robust corporate governance and highlighted instances of concealing the true status of stressed loans. Evergreening […]
Lightweight Payment And Settlement System : RBI
Lightweight Payment And Settlement System : RBI The Reserve Bank of India (RBI) recently announced plans to introduce a ‘Lightweight’ Payment and Settlement System (LPSS) for emergencies which was proposed in RBI’s annual report for 2022-23. The lightweight system aims to provide resilience and continuity of payment and settlement systems while ensuring efficiency during emergencies. […]
e-Appeals Scheme 2023
e-Appeals Scheme 2023: The Central Board of Direct Taxes (CBDT) has recently launched the “e appeal” scheme, aimed at addressing the issue of pending appeals related to Tax Deducted at Source (TDS) default and tax collection at source (TCS). This new initiative is expected to streamline the appeal process and expedite the resolution of such […]
Coin Of Rs.75 Denomination
Coin Of Rs.75 Denomination: Prime Minister Narendra Modi unveiled a commemorative coin of Rs 75 denomination. Commemorative coins have been issued by India since the 1960s for various purposes, such as honoring notable personalities, creating awareness about government schemes, or commemorating significant historical events. The newly released Rs 75 coin features a circular shape with […]
