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, […]
Category: Economics Current Affairs
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. […]
India’s smartphone exports
India’s smartphone exports: India’s smartphone exports have reached an all-time high of Rs 1.55 trillion in the April 2024 to January 2025 period, reflecting a 56% surge from Rs 991.2 billion in the same period last year. This growth has been primarily fueled by the Production-Linked Incentive (PLI) scheme, which has strengthened India’s smartphone manufacturing […]
APEDA : In News
APEDA : In News The Agricultural and Processed Food Products Export Development Authority (APEDA), in collaboration with AgroStar and Kay Bee Exports, successfully completed India’s first-ever commercial trial shipments of premium Sangola and Bhagwa pomegranates, respectively, to Australia via sea. APEDA was established by the Government of India under the Agricultural and Processed Food Products […]
Sovereign Green Bonds
Sovereign Green Bonds: Like several emerging markets, India also turned to sovereign green bonds to help fund its transition to a low-carbon economy, but investor demand remains weak. SGBs are debt securities issued by a national government to fund projects that have positive environmental benefits. The proceeds from these bonds are exclusively allocated to green […]
