RBI Reverses Higher Risk Weights on Bank Loans to NBFCs and Microloans: The Reserve Bank of India (RBI) has decided to reverse its 2023 decision to increase risk weights on bank loans to non-banking financial companies (NBFCs) due to the slowdown in bank credit growth. This move, effective from April 1, 2025, is expected to […]
Category: Economics Current Affairs
SBI Cuts India’s FY25 GDP Growth Forecast to 6.3%
SBI Cuts India’s FY25 GDP Growth Forecast to 6.3%: India’s economic growth is expected to slow down in the fiscal year 2024-25, with the State Bank of India (SBI) revising its GDP growth estimate to 6.3%. This is lower than the Reserve Bank of India’s (RBI) projection of 6.6% and a significant drop from last […]
MP Secures ₹30.77 Lakh Cr in Investment Pledges
MP Secures ₹30.77 Lakh Cr in Investment Pledges: Madhya Pradesh has received investment commitments worth ₹30.77 lakh crore at the 8th edition of the Invest Madhya Pradesh Summit, held in Bhopal. This two-day event served as a platform to attract global investors, highlight the state’s strategic advantages, industrial potential, and business-friendly policies, and drive economic […]
SEBI Fines BSE’s ICCL ₹5 Crore for Regulatory Violations
SEBI Fines BSE’s ICCL ₹5 Crore for Regulatory Violations: The Securities and Exchange Board of India (SEBI) has fined the Indian Clearing Corporation Ltd. (ICCL), a subsidiary of BSE Ltd., ₹5.05 crore for regulatory breaches. The penalty was imposed after an inspection uncovered non-compliance with SEBI’s cybersecurity framework, IT asset management.
RBI Raises Small Loan Limit for UCBs to ₹3 Crore
RBI Raises Small Loan Limit for UCBs to ₹3 Crore: The Reserve Bank of India (RBI) has revised the small-value loan ceiling for Urban Co-operative Banks (UCBs), increasing it to ₹3 crore per borrower. This change is part of a broader initiative to redefine small-value loans and strengthen the financial stability of UCBs. While the […]
Govt Plans 1-Year Free-Look Period for Insurance
Govt Plans 1-Year Free-Look Period for Insurance: The Indian government has proposed extending the ‘free-look’ period for insurance policies from the current 30 days to one year. This move is expected to help policyholders review their insurance terms carefully and prevent mis-selling in the industry. The proposal, announced by the Department of Financial Services Secretary […]
Kisan Credit Card (KCC) Amount Crosses ₹10 Lakh Crore Benefiting 7.72 Crore Farmers
Kisan Credit Card (KCC) Amount Crosses ₹10 Lakh Crore Benefiting 7.72 Crore Farmers: The Kisan Credit Card (KCC) scheme has played a crucial role in ensuring that farmers in India have timely access to affordable credit for agricultural and allied activities. Over the years, the scheme has undergone several modifications to enhance credit penetration in […]
Qualified Institutional Placement
Qualified Institutional Placement: Shareholders of the Indian Renewable Energy Development Agency Ltd. (IREDA) recently approved the company’s proposal to raise up to ₹5,000 crore through the Qualified Institutional Placement (QIP) of equity shares in one or multiple tranches. Qualified Institutional Placement (QIP) is a capital-raising mechanism through which public listed companies use to issue equity […]
IndusInd Bank Becomes Official Banking Partner of PGTI
IndusInd Bank Becomes Official Banking Partner of PGTI: IndusInd Bank has announced its partnership with the Professional Golf Tour of India (PGTI) as its official Banking Partner. This collaboration aims to enhance the banking experience for Ultra High Net Worth Individuals (UHNIs) and High Net Worth Individuals (HNIs) under the PIONEER banking program. The partnership […]
Rupee & Dollar Swap Auctions
Rupee & Dollar Swap Auctions: RBI announced a $10 billion USD/INR buy/sell swap auction to inject ₹86,000 crore into the banking system.It is a tool used by RBI to manage liquidity in the economy and stabilize currency volatility. Banks sell US dollars to RBI in exchange for rupees in the first leg and agree to […]
