P. Suriaraj Appointed Executive Director of Dhanlaxmi Bank: P. Suriaraj has assumed the role of Executive Director at Dhanlaxmi Bank, bringing with him a wealth of experience from his tenure at Tamilnad Mercantile Bank Ltd. His appointment is expected to bolster the bank’s strategic initiatives and operational efficiency.
Category: Economics Current Affairs
Punjab National Bank (PNB) has become the first Indian bank to launch Clari5’s National Cybercrime Reporting Portal (NCRP) Integration Solution.
Punjab National Bank (PNB) has become the first Indian bank to launch Clari5’s National Cybercrime Reporting Portal (NCRP) Integration Solution: Punjab National Bank (PNB) has become the first Indian bank to implement Clari5’s National Cybercrime Reporting Portal (NCRP) Integration Solution, marking a significant advancement in fraud prevention and complaint management. This state-of-the-art system, developed in […]
RBI Fines Canara, BOI, and J&K Bank
RBI Fines Canara, BOI, and J&K Bank: RBI penalized Canara Bank (₹1.63 crore), J&K Bank (₹3.31 crore), and Bank of India (₹1 crore) for regulatory non-compliance in areas like loans, data, and KYC.These penalties underscore the RBI’s ongoing efforts to enforce regulatory compliance within the banking sector.
Delays in MGNREGA Wages
Delays in MGNREGA Wages: A recent study in the Indian Journal of Labour Economics (IJLE), revealed that the union government owes Rs 39 crore in delayed wages to Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) workers.The study analyzed 31.36 million wage transactions in 2021-22 and found that the Aadhaar-Based Payment System (ABPS) and caste-based […]
Principal Purpose Test
Principal Purpose Test: The Central Board of Direct Taxes (CBDT) has introduced new guidelines for applying the Principal Purpose Test (PPT) under India’s Double Tax Avoidance Agreements (DTAAs), aiming to prevent tax avoidance.These guidelines apply prospectively, with specific exemptions for treaties with Cyprus, Mauritius, and Singapore due to grandfathering provisions.The PPT provisions will apply prospectively, […]
Sachetisation Plan
Sachetisation Plan: The Securities and Exchange Board of India (SEBI) is introducing a sachetisation plan to enable small-ticket systematic investment plans (SIPs) starting at ₹250 per month. Sachetisation is a strategy inspired by FMCG products offering small, affordable units (e.g., shampoo sachets) to penetrate price-sensitive markets. Applied to financial services, it allows low-income investors to […]
Centre Hikes MSP on Jute
Centre Hikes MSP on Jute: The Centre has made a significant decision to increase the Minimum Support Price (MSP) for raw jute by Rs 315, setting it at Rs 5,650 per quintal for the 2025-26 marketing season. This move, approved by the Union Cabinet, aims to provide farmers with a return of 66.8 per cent […]
RBI’s Strategic Liquidity Infusion to Stabilize Money Markets
RBI’s Strategic Liquidity Infusion to Stabilize Money Markets: The Reserve Bank of India (RBI) has conducted a series of Variable Rate Repo (VRR) auctions, infusing a substantial ₹76,000 crore into the financial ecosystem. This initiative aims to alleviate the liquidity deficit and stabilize short-term interest rates, particularly the call money rates, which had been trading […]
RBI Tightens Guidelines for ARCs in Borrower Settlements
RBI Tightens Guidelines for ARCs in Borrower Settlements: The Reserve Bank of India (RBI) has introduced stricter guidelines for Asset Reconstruction Companies (ARCs) to enhance transparency and accountability in borrower settlements. These revisions aim to standardize procedures and align them with practices of banks and non-banking financial companies (NBFCs).ARCs are now mandated to establish board-approved […]
Neeraj Parakh Appointed as CEO and Executive Director of Reliance Power
Neeraj Parakh Appointed as CEO and Executive Director of Reliance Power: Reliance Power Limited has appointed Neeraj Parakh as its Executive Director and Chief Executive Officer (CEO), effective January 20, 2025, for a tenure of three years, subject to shareholder approval.Parakh brings over 29 years of professional experience, with more than 20 years dedicated to […]
