HDFC Bank Secures RBI Approval to Acquire Stakes in Peer Banks: HDFC Bank, India’s largest private sector lender, has received the Reserve Bank of India’s (RBI) approval to acquire up to a 9.5% stake in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank. This strategic move is facilitated through its group […]
Category: Economics Current Affairs
Ramesh Chand Panel
Ramesh Chand Panel: The government recently announced the formation of an 18-member panel headed by NITI Aayog member Ramesh Chand to revise the base year of the Wholesale Price Index (WPI) and suggest a road map for switching over to the Producer Price Index (PPI). It has been established to revise the base year of […]
RBI’s 2024-25 Report on State Finances
RBI’s 2024-25 Report on State Finances: The Reserve Bank of India’s (RBI) recent report, “State Finances: A Study of Budgets of 2024-25,” highlights significant improvements in the fiscal health of state governments post-pandemic, while also identifying areas requiring further attention. Gross Fiscal Deficit (GFD): States have successfully contained their consolidated GFD within 3% of GDP […]
United District Information System for Education (UDISE+) Report 2023-24
United District Information System for Education (UDISE+) Report 2023-24: The total enrolment of students has dropped by over a crore in 2023-24 as compared to the previous years, Unified District Information System for Education Plus (UDISE+) report released by the Ministry of Education (MoE) said recently. Highlights of UDISE+ Report 2023-24: 8 crore students enrolled […]
Index of Eight Core Industries (ICI) 2024 Report
Index of Eight Core Industries (ICI) 2024 Report: The combined Index of Eight Core Industries (ICI) recorded a 4.3% growth in November 2024 compared to November 2023.The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The eight […]
The State Bank of India (SBI) has launched a fully digital, TAB-based onboarding process for NRIs to open NRE and NRO accounts.
The State Bank of India (SBI) has launched a fully digital, TAB-based onboarding process for NRIs to open NRE and NRO accounts.: The State Bank of India (SBI) has introduced a TAB-based end-to-end digital onboarding process for Non-Resident Indians (NRIs) to streamline the opening of Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. This initiative, […]
RBI’s Guidelines on Government Debt Relief Scheme
RBI’s Guidelines on Government Debt Relief Scheme: The Reserve Bank of India (RBI) has issued detailed guidelines for lenders participating in the Government Debt Relief Scheme, aiming to provide structured relief to borrowers facing financial distress. This initiative aligns with the RBI’s ongoing efforts to enhance financial stability and support economic recovery.
Rajat Verma Appointed CEO of DBS Bank India
Rajat Verma Appointed CEO of DBS Bank India: Rajat Verma, the current head of the Institutional Banking Group at DBS Bank India, has been appointed as the new CEO of DBS Bank India, effective March 1, 2025. This announcement comes after the retirement of Surojit Shome, who has been at the helm since 2015. Verma’s […]
RBI Introduces Name Lookup for NEFT and RTGS
RBI Introduces Name Lookup for NEFT and RTGS: The Reserve Bank of India (RBI) has announced a name lookup facility for Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, aiming to reduce fraud and errors. This feature, similar to what Unified Payments Interface (UPI) and Immediate Payment Service (IMPS) offer, will allow […]
GST Growth Slows to 7.3% in December
GST Growth Slows to 7.3% in December: India’s GST collection growth slowed to 7.3% YoY in December 2024, with gross revenue standing at ₹1.77 lakh crore, compared to ₹1.65 lakh crore in December 2023. This marks the slowest growth in three months and highlights a slight decline in consumer spending post-holiday season. GST revenues have […]
