Bank Credit to NBFCs Falls to 4-Year Low at 6.7% in 2024: RBI Bank lending to Non-Banking Financial Companies (NBFCs) has slowed significantly, hitting a four-year low of 6.7% in 2024, according to the latest data from the Reserve Bank of India (RBI). This decline is mainly due to higher risk weights imposed on such […]
Category: Economics Current Affairs
HAL & DIAT Collaborate for Aerospace Innovation
HAL & DIAT Collaborate for Aerospace Innovation: Hindustan Aeronautics Limited (HAL) has taken a significant step in bridging the gap between industry and academia by signing a Memorandum of Understanding (MoU) with the Defence Institute of Advanced Technology (DIAT), Pune. The collaboration aims to foster cutting-edge research, skill development, and technological advancements in the aerospace […]
Purchasing Managers’ Index
Purchasing Managers’ Index: India’s Purchasing Managers’ Index (PMI) rose for first time after three quarters. It is an indicator of business activity – both in the manufacturing and services sectors. It is a survey-based measure that asks the respondents about changes in their perception of some key business variables from the month before. It is […]
RBI Penalties
RBI Penalties: The RBI has imposed penalties on Citibank (₹39 lakh), Asirvad Micro Finance (₹6.20 lakh), and JM Financial Home Loans (₹1.50 lakh) for regulatory violations. Citibank failed to report large exposure breaches on time and delayed credit data corrections.According to the central bank, these financial institutions were found violating guidelines related to large exposures, […]
SEBI Fines Axis Securities ₹10 Lakh for Rule Violations
SEBI Fines Axis Securities ₹10 Lakh for Rule Violations: The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹10 lakh on Axis Securities for multiple violations of stockbroker regulations. The regulatory action follows an inspection covering the period from April 2021 to November 2022. SEBI found several lapses in compliance, including […]
RBI to Inject $10 Billion Through Forex Swap to Ease Liquidity Crunch
RBI to Inject $10 Billion Through Forex Swap to Ease Liquidity Crunch: The Reserve Bank of India (RBI) has announced a $10 billion foreign exchange (forex) swap to inject liquidity into the banking system and address the prevailing cash crunch. The three-year swap auction is scheduled for February 28, 2025. This move follows a previous […]
Dinesh Khara Committee
Dinesh Khara Committee: The Insurance Regulatory and Development Authority of India (IRDAI) has formed a high-powered committee, led by former SBI chairman Dinesh Khara, to review key provisions of the Insurance Act, 1938. Dinesh Khara Committee Established for Review and update the Insurance Act, 1938 to align with modern needs, Assess the feasibility of 100% […]
RBI Unveils RBIDATA App for Seamless Economic Data Access
RBI Unveils RBIDATA App for Seamless Economic Data Access: The Reserve Bank of India (RBI) has introduced RBIDATA, a new mobile application that provides seamless access to macroeconomic and financial data related to the Indian economy. This app is designed to cater to a wide range of users, including researchers, students, policymakers, and the general […]
India’s Q3 FY25 GDP Growth Set at 6.4%
India’s Q3 FY25 GDP Growth Set at 6.4%: India’s economy is set to grow at 6.4% in Q3 FY25, according to a projection by ICRA, up from 5.4% in the previous quarter. This growth is being driven by higher government spending and a rebound in exports, strengthening key economic sectors. The Gross Value Added (GVA) […]
Karnataka Bank Marks 100 Years with New Product Launches
Karnataka Bank Marks 100 Years with New Product Launches: Karnataka Bank marked its 100th anniversary on February 18, 2024, by unveiling two new financial products aimed at expanding its customer base and strengthening its market presence. The bank introduced a specialized savings account for children and a high-interest term deposit scheme for a limited period. […]
