Category: Economics Current Affairs

RuPay Card : Permit Banks To Issue RuPay Prepaid Forex Cards The Reserve Bank of India (RBI), in a bid to broaden the scope of RuPay cards has decided to permit banks to issue RuPay Prepaid forex cards to customers and to issue such cards abroad. RuPay card is an Indian domestic card scheme conceived […]

First Loss Default Guarantee : RBI The Reserve Bank of India (RBI) has recently granted its approval for First Loss Default Guarantee (FLDG) framework. FLDG is a lending model between fintech firms and their partner banks and non-banking finance companies where the initial hit on a default is taken by the fintech firm that originated […]

‘Antardrishti’ : Financial Inclusion Dashboard The Reserve Bank of India Governor launched a financial inclusion dashboard named ‘Antardrishti’. Antardrishti dashboard provides the necessary knowledge to evaluate and track the development of financial inclusion by recording relevant data. It will also make it possible to assess the degree of financial exclusion at a local level across […]

Trade Receivables Discounting System (TReDS) Platform : RBI The Reserve Bank on Wednesday expanded the trade receivables discounting system (TReDS) by permitting insurance companies to function as participants. Trade Receivables Discounting System (TReDS) platform is an electronic platform for facilitating the financing/discounting of trade receivables of Micro, Small, and Medium Enterprises (MSMEs) through multiple financiers. […]

Prepaid Payment Instruments: RBI A committee set up to review the Customer Service Standards in RBI Regulated Entities has recommended that the central bank should examine the extension of Deposit Insurance and Credit Guarantee Corporation (DICGC) cover to PPI. Prepaid Payment Instruments are instruments that facilitate the purchase of goods and services, conduct of financial […]

Peer-To-Peer (P2P) Lending: After digital payments and digital lending, the Reserve Bank of India is looking closely at platforms that facilitate direct, or peer-to-peer (P2P), lending between individuals. Peer-to-Peer (P2P) lending is done through a website that connects borrowers and lenders directly. Those who want to lend money, open an account with a P2P platform […]

National Institutional Ranking Framework (NIRF) 2023: The Minister of State for Education released the National Institutional Ranking Framework (NIRF) 2023. Highlights of NIRF 2023: Indian Institute of Technology Madras retains its 1st position in Overall Category and Engineering. Indian Institute of Science, Bengaluru tops the Universities Category and stood first in Research Institutions Category. IIM […]

National E-Commerce Policy: The Indian government is set to introduce a national e-commerce policy that aims to create a favorable environment for the development of the sector and drive exports. The e-commerce policy was first proposed in 2018 and in 2019, a draft of the e-commerce policy was released. Department for Promotion of Industry and […]

Draft Guidelines For Bima Vahak: IRDAI (Insurance Regulatory and Development Authority of India) has issued a draft Guidelines for Bima Vahak, which is a dedicated distribution channel to reach out to rural areas with the aim to improve insurance penetration in the Hinterland. Bima Vahak Program is one of the components of IRDAI’s “Insurance for […]