Category: Economics Current Affairs

SBI Cards’ New Minimum Amount Due (MAD) Formula: State Bank of India Credit Cards (SBI Cards) will implement a revised formula to calculate the Minimum Amount Due (MAD). This is the amount that a cardholder is mandatorily required to pay by the due date to keep their account in good standing. The new approach is […]

India’s Unemployment Rises to 5.6% in May 2025: India’s unemployment rate increased to 5.6% in May 2025, up from 5.1% in April, primarily due to a sharp decline in agricultural jobs following the harvest season, according to data released by the Ministry of Statistics. The jobless rate among urban and rural youth and female workers […]

Anuradha Thakur Appointed to SEBI Board: Anuradha Thakur, a 1994 batch IAS officer of the Himachal Pradesh cadre, has been appointed to the Board of the Securities and Exchange Board of India (SEBI), replacing outgoing Economic Affairs Secretary Ajay Seth. With this appointment, effective July 1, 2025, Thakur becomes the first woman to hold the […]

RBI Hikes Agency Commission for Banks on Government Transactions: The Reserve Bank of India (RBI) has revised the agency commission rates paid to banks for handling government business transactions. Effective from April 1, 2025, the revised structure includes increased payouts for electronic revenue transactions, pension disbursements, and non-pension government payments, signaling RBI’s intent to bolster […]

RBI Relocates Andhra Pradesh Regional Office to Vijayawada: The Reserve Bank of India (RBI) has officially relocated its Andhra Pradesh regional office to Vijayawada. The new office was inaugurated on June 16, 2025, by Deputy Governor T. Rabi Sankar, marking a significant step in enhancing the central bank’s operational effectiveness and outreach in the state.The […]

TCS Joins Hands with CEB to Streamline Financial Operations: Tata Consultancy Services (TCS) has partnered with the Council of Europe Development Bank (CEB), headquartered in Paris, to streamline the bank’s complex financial transactions. As part of this collaboration, TCS will implement its AI-driven solution, TCS BaNCSTM for Reconciliations, to automate and modernise CEB’s reconciliation processes […]

Zero-Coupon Bonds: The Power Finance Corporation withdrew zero-coupon bonds issuance due to weak investor demand. These are a debt instrument that does not pay periodic interest but is issued at a discount rate to its face value. These are also known as discount bonds, are issued at a discount on the bond’s face value and […]

IREDA Bags ‘Excellent’ Ratings: The Indian Renewable Energy Development Agency Ltd. (IREDA) was awarded an ‘Excellent’ rating for its exceptional performance in the Power and NBFC sectors by the Department of Public Enterprises (DPE). IREDA received the ‘Excellent’ rating for the fourth consecutive year, based on its annual performance for FY 2023-24. This recognition highlights […]

RBI’s LTV Norm Revision to Boost NBFC Gold Loan Growth: The Reserve Bank of India (RBI) has issued final directions allowing higher loan-to-value (LTV) ratios for gold loans, a move that is expected to benefit non-banking financial companies (NBFCs) that dominate this lending segment. According to Crisil Ratings, this breather in LTV ceiling especially for […]

SEBI’s New Verified UPI Mechanism: SEBI has announced a new verified UPI ID system for registered market intermediaries, effective from October 1, 2025, to curb rising cases of cyber fraud and impersonation in securities transactions. SEBI’s New Verified UPI Mechanism: A validated UPI payment framework for SEBI-registered intermediaries featuring exclusive UPI handles ending with @valid. […]