Replenishment Of Balances In FASTag: The Reserve Bank of India (RBI) has updated its e-mandate framework to include the auto-replenishment of balances in FASTag and the National Common Mobility Card (NCMC). Under the new rules, these auto-replenishment transactions, which occur when balances fall below a customer-defined threshold, will no longer require a pre-debit notification.
Category: Economics Current Affairs
Goldman Sachs Lowers India’s 2024 and 2025 GDP Growth Forecasts
Goldman Sachs Lowers India’s 2024 and 2025 GDP Growth Forecasts: Goldman Sachs has revised India’s GDP growth forecasts for 2024 and 2025, anticipating slower expansion due to reduced government expenditure and other economic factors. The bank now projects a growth rate of 6.7% for 2024 and 6.4% for 2025, down by 20 basis points each […]
Tata Power Solar Systems Ltd
Tata Power Solar Systems Ltd: Tata Power Solar Systems Ltd (TPSSL) has signed an agreement with ICICI Bank to provide financing for solar units to residential and corporate customers. As part of the agreement, the customers can avail themselves of loans up to Rs 90 lakh with collateral-free options and tenure extending up to 5 […]
GoI Approves Unified Pension Scheme for Government Employees
GoI Approves Unified Pension Scheme for Government Employees: To enhance retirement benefits for government employees, the Union Cabinet on Saturday approved the Unified Pension Scheme (UPS). This new scheme is set to benefit approximately 23 lakh government employees and will serve as an alternative to the existing National Pension System (NPS).
RBI Governor Secures
RBI Governor Secures: Prime Minister of India recently congratulated Reserve Bank of India (RBI) Governor Shaktikanta Das for receiving an ‘A+’ rating in the Global Finance Central Banker Report Cards 2024, marking his second consecutive achievement of this high honour. Shaktikanta Das is one of only three central bankers globally to receive an “A+” rating, […]
RBI Intensifies Scrutiny on P2P Lending Platforms
RBI Intensifies Scrutiny on P2P Lending Platforms: The Reserve Bank of India (RBI) has intensified its regulatory scrutiny on Non-Banking Financial Company–Peer to Peer Lending Platform (P2P) lending platforms following the discovery of multiple regulatory violations, including high levels of non-performing assets (NPAs). RBI identified violations, including unauthorised deposit acceptance and unusually high balances in […]
Prime Minister Employment Generation Programme (PMEGP)
Prime Minister Employment Generation Programme (PMEGP): KVIC and Department of Posts collaborate to boost PMEGP Implementation across India. PMEGP is a central sector scheme administered by the Ministry of Micro, Small and Medium Enterprises. Objectives is to generate employment opportunities in rural as well as urban areas of the country through setting up of new […]
PhonePe’s ‘Credit Line On UPI’ Revolutionizes Digital Transactions
PhonePe’s ‘Credit Line On UPI’ Revolutionizes Digital Transactions: PhonePe on August 22, announced the launch of Credit Line on UPI on its platform. Consumers who avail credit lines from their banks can now link these credit lines to UPI on PhonePe and seamlessly make merchant payments.
NCLT Approves Slice-North East Small Finance Bank Merger
NCLT Approves Slice-North East Small Finance Bank Merger: The National Company Law Tribunal (NCLT) has approved the merger of Slice, a leading fintech company in India, with North East Small Finance Bank (NESFB).
NPCI Launches ‘UPI Circle’ for Secure Payments Among Trusted Users
NPCI Launches ‘UPI Circle’ for Secure Payments Among Trusted Users: The National Payments Corporation of India (NPCI) has unveiled a new feature called ‘UPI Circle’ on the Unified Payments Interface (UPI) platform, allowing primary UPI account holders to securely delegate payment responsibilities to trusted secondary users.
