IDBI Bank Launches OTS scheme for retail NPA borrowers to Boost Recovery: IDBI Bank has launched the ‘Sugam Rinn Bhugtan Yojana (SUGAM Scheme)‘, a one-time settlement (OTS)/Negotiated Settlement scheme aimed at recovering non-performing retail loans. The scheme is available to borrowers with outstanding principal between Rs 10 lakh and Rs 10 crore, offering relaxed terms […]
Category: Economics Current Affairs
MMRDA Secured Rs 31,673.79 Crore Loan from PFC to Fast Track Mumbai’s 9 Infrastructure Projects
MMRDA secures Rs 31,673.79 crore loan from PFC to fast-track Mumbai infrastructure projects: The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a loan worth Rs 31,673.79 crores from the Power Finance Corporation (PFC) under the Ministry of Power (MoP) to fast track the development of 9 key infrastructure projects in the Mumbai Metropolitan Region(MMR). […]
Arundhati Roy’s first memoir ‘Mother Mary Comes to Me’ to release in September 2025
Arundhati Roy’s first memoir ‘Mother Mary Comes to Me’ to release in September 2025: Renowned Indian Author and 1997 Booker Prize winner Arundhati Roy, is set to publish her first memoir titled “Mother Mary Comes to Me” in September 2025. The book will be published by Penguin Random House.The book offers an intimate account of […]
IBBI to Celebrate Its 8th Annual Day
IBBI to Celebrate Its 8th Annual Day: The Insolvency and Bankruptcy Board of India (IBBI) celebrates its Eighth Annual Day on 1st October 2024. Senior officers of the Government and regulatory bodies will grace the occasion. Over the past eight years, the IBC has significantly accelerated the resolution of insolvency cases.
Current Account Deficit Widens to $9.7 Billion in April-June Quarter
Current Account Deficit Widens to $9.7 Billion in April-June Quarter: In the April-June 2024 quarter, India’s current account deficit (CAD) increased to $9.7 billion, or 1.1% of GDP, up from $8.9 billion (1% of GDP) in Q1 FY2024, according to the Reserve Bank of India (RBI).
New asset class and a liberalized Mutual Funds Lite
New asset class and a liberalized Mutual Funds Lite: The Securities and Exchange Board of India (SEBI) has announced the introduction of a new asset class and a liberalized Mutual Funds Lite (MF Lite) framework, aimed at enhancing the investment landscape in India.
BSE and NSE have announced revisions to their transaction fees
BSE and NSE have announced revisions to their transaction fees: BSE and NSE have announced revisions to their transaction fees, effective from October 1, 2024. The changes, which impact various segments, align with SEBI’s July directive mandating a uniform fee structure across market infrastructure institutions (MIIs). This move eliminates the previous slab-based structure and ensures […]
GST Council Establishes GoM on Compensation Cess
GST Council Establishes GoM on Compensation Cess: The Goods and Services Tax (GST) Council has formed a 10-member Group of Ministers (GoM), chaired by Minister of State for Finance Pankaj Chaudhary, to address the future taxation of luxury, sin, and demerit goods as the compensation cess is set to expire in March 2026.
T+0 Settlement
T+0 Settlement: Stock exchanges have decided to delay the implementation of T+0 (same-day) settlement cycle for institutional clients, which was set to start on September 30, 2024, on a voluntary basis. T+0 was introduced for retail clients in 25 securities as a beta version in March 2024. T+0 Settlement refers to same-day settlement of trades […]
SEBI Launches FPI Outreach Cell
SEBI Launches FPI Outreach Cell: The Securities and Exchange Board of India (SEBI) has launched a dedicated Foreign Portfolio Investor Outreach Cell as part of the Alternative Investment Fund and Foreign Portfolio Investors Department (AFD). This cell will focus on direct engagement with Foreign Portfolio Investors (FPIs), and supporting them in accessing the Indian securities […]
