Liberalised Remittances Scheme : Reserve Bank Of India Twenty per cent tax on Liberalised Remittances Scheme (LRS) of the Reserve Bank of India is set to kick off soon. Liberalised Remittances Scheme (LRS) allows Indian residents to freely remit up to USD $250,000 per financial year for current or capital account transactions or a combination […]
Category: Economics Current Affairs
Riot Provision Of The Reserve Bank Of India : Manipur
Riot Provision Of The Reserve Bank Of India : Manipur The Manipur government has invoked the Riot Provision of the Reserve Bank of India (RBI) in response to a Grave Situation in the State marked by riots and violence. The order acknowledged the borrowers’ inability to repay loans due to the crisis and sought relief […]
Grievance Redressal Assessment And Index (GRAI) 2022
Grievance Redressal Assessment And Index (GRAI) 2022: The Union Minister of Public Grievances, and Pensions, launched the Grievance Redressal Assessment and Index (GRAI) 2022. Grievance Redressal Assessment and Index (GRAI) 2022 was conceptualised and designed by the Department of Administrative Reforms and Public Grievances (DARPG), Govt. of India. Objective is to present an organisation-wise comparative […]
One Nation One Helpline Initiative : For Childline Services
One Nation One Helpline Initiative : For Childline Services The Ministry of Women and Child Development (MoW&CD) in India has undertaken a significant step by merging the successful Childline emergency counselling and distress helpline for children with the Emergency Response Support System (ERSS) number 112. The move aims to enhance the effectiveness and efficiency of […]
Skill Impact Bond Initiative
Skill Impact Bond Initiative: Under the Skill Impact Bond (SIB) initiative, nearly 18,000 first-time job seekers have been skilled, with 72% of them being women The Skill Impact Bond (SIB) is India’s first development impact bond for skilling and employment. Launched by the National Skill Development Corporation (NSDC) in collaboration with global partners Aim is […]
Execution Only Platform
Execution Only Platform: The Securities and Exchange Board of India (SEBI) directed existing Mutual Funds ‘Execution-Only Platforms’ (EOPs) to obtain registration within three months. Execution only platform (EOP )is a digital or online platform which facilitates transactions such as subscription, redemption and switch transactions in direct plans of schemes of mutual funds. Mutual funds is […]
Urban Co-operative Banks : Key Measures Taken By RBI
Urban Co-operative Banks : Key Measures Taken By RBI To strengthen 1,514 urban co-operative banks, the Reserve Bank India has notified four key measures, including giving them two years more to meet the priority sector lending targets. Four Key Measures are: Allowing UCBs to open new branches without prior approval from RBI, up to 10% […]
First Loss Default Guarantee (FLDG) System : RBI
First Loss Default Guarantee (FLDG) System : RBI The Reserve Bank of India (RBI) has recently allowed the First Loss Default Guarantee (FLDG) system in the digital lending space. First Loss Default Guarantee (FLDG) system is also known as default loss guarantee (DLG). FLDG is a lending model between a fintech and a regulated entity. […]
Primary Agricultural Credit Societies : Govt New Decision
Primary Agricultural Credit Societies : Govt New Decision The Government has taken five new decisions to increase the income of Primary Agricultural Credit Societies (PACS), as well as increase the employment opportunities in rural areas. Government aims to achieve overall prosperity in the country through the mantra of “Sahkar Se Samriddhi”. It was proposed to […]
Policy Rates Unchanged : RBI
Policy Rates Unchanged : RBI The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep the policy rates unchanged, taking into account the evolving macroeconomic situation. This is the second consecutive pause after a previous conservative rate hike of 250 basis points aimed at curbing inflation. The decision reflects a cautious approach […]
