RBI’s Transition of Urban Co-operative Banks (UCBs) to the PCA Framework: The Reserve Bank of India (RBI) will transition approximately 500 financially weak Urban Co-operative Banks (UCBs) from the Supervisory Action Framework (SAF) to the Prompt Corrective Action (PCA) framework starting April 1, 2025. This move aims to strengthen regulatory oversight and ensure timely remedial […]
Category: Economics Current Affairs
RBI Revises Norms on Government-Guaranteed Security Receipts
RBI Revises Norms on Government-Guaranteed Security Receipts: The Reserve Bank of India (RBI) has introduced new guidelines for Government of India-guaranteed Security Receipts (SRs) issued by Asset Reconstruction Companies (ARCs). These regulations aim to differentiate sovereign-backed SRs from ordinary SRs, providing banks with greater flexibility in provisioning while ensuring stricter capital discipline. The move is […]
RBI Conference on Strengthening Large NBFCs Held in Chennai
RBI Conference on Strengthening Large NBFCs Held in Chennai: The Reserve Bank of India (RBI) hosted a conference for large-sized Non-Banking Financial Companies (NBFCs) on March 28, 2025, in Chennai. The event was attended by Chairpersons of the Audit Committee of the Board (ACB), MD & CEOs, and Statutory Auditors of various NBFCs. Under the […]
Revision in ATM withdrawal charges
Revision in ATM withdrawal charges: The Reserve Bank of India (RBI) has announced a revision in ATM withdrawal charges, which will come into effect from May 1, 2025. As per the new rule, banks can now charge customers up to Rs 23 per transaction for withdrawals exceeding the monthly free limit. This is an increase […]
EY Report Projects 6.5% Growth in FY26 For India
EY Report Projects 6.5% Growth in FY26 For India: The latest EY Economy Watch report projects India’s GDP growth at 6.5% for FY26 (April 2025 – March 2026), emphasizing the importance of a well-calibrated fiscal strategy that balances economic expansion and fiscal prudence. The report highlights the need for increased government investment in human capital […]
Sivasubramanian Ramann Appointed as New Chairperson of PFRDA
Sivasubramanian Ramann Appointed as New Chairperson of PFRDA: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sivasubramanian Ramann as the new Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) for a tenure of five years. Ramann, who currently serves as the Deputy Comptroller & Auditor General (CAG) and Chief […]
Poonam Gupta Appointed as RBI Deputy Governor Ahead of MPC Meeting
Poonam Gupta Appointed as RBI Deputy Governor Ahead of MPC Meeting: The Reserve Bank of India (RBI) has appointed Poonam Gupta as its new Deputy Governor, succeeding Michael Patra. Her appointment comes just before the Monetary Policy Committee (MPC) meeting, scheduled for April 7-9, 2025. With her vast experience in macroeconomic policy, international financial institutions, […]
Swaminathan S. Iyer Appointed as Whole-Time Member (Life) of IRDAI
Swaminathan S. Iyer Appointed as Whole-Time Member (Life) of IRDAI: The Government of India has approved the appointment of Swaminathan S. Iyer as a whole-time member (life) of the Insurance Regulatory and Development Authority of India (IRDAI). This appointment has significant implications for the insurance sector, as the IRDAI plays a critical role in regulating […]
India’s GST Collections Surge 9.9% YoY in March 2025
India’s GST Collections Surge 9.9% YoY in March 2025: India’s Goods and Services Tax (GST) collections witnessed a strong growth of 9.9% year-on-year (YoY) in March 2025, reaching Rs 1.96 lakh crore. This marks a significant rise in indirect tax revenue, reflecting steady economic activity and increased compliance. The gross GST collection for March stood […]
Decline in India’s Cotton Production
Decline in India’s Cotton Production: India, once the world’s largest cotton producer and exporter, is facing a significant decline in cotton production, primarily due to the lack of technological advancements and policy inaction.Hybrid Cotton Varieties developed by Indian scientists like C.T. Patel and B.H. Katarki in the 1970s, has significantly improved yields. Bt (Bacillus thuringiensis) […]
