RBI’s Five Strategic Priorities for India’s Financial Future: At the Global Fintech Festival (GFF) 2024 in Mumbai, Reserve Bank of India (RBI) Governor Shaktikanta Das outlined five strategic priorities for India’s financial future, underscoring the country’s ambitious plans to establish itself as a leading global economy
Category: Economics Current Affairs
Payment Passkey Service
Payment Passkey Service: Mastercard has debuted its Payment Passkey Service in India, offering a secure, non-OTP-based solution for online transactions.The Payment Passkey Service is a secure, non-OTP-based method for managing online transactions. Instead of using traditional passwords or one-time passwords (OTPs), this service relies on biometric authentication (fingerprints, facial scans) or PINs available on the […]
UN Allocates $100 Million for Humanitarian Crises in 10 Countries
UN Allocates $100 Million for Humanitarian Crises in 10 Countries: The United Nations has allocated $100 million from the Central Emergency Response Fund (CERF) to address critical humanitarian needs in 10 countries across Africa, the Middle East, Asia, and the Caribbean.
RBI Imposes Penalties on UCO Bank and Cent Bank Home Finance Ltd
RBI Imposes Penalties on UCO Bank and Cent Bank Home Finance Ltd: The Reserve Bank of India (RBI) has levied penalties on two financial entities for regulatory non-compliance. UCO Bank has been fined Rs 2.68 crore for violating provisions related to current account openings, deposit interest rates, and fraud classification.
NHPC, SECI, Railtel, and SJVN Gain Navratna Status
NHPC, SECI, Railtel, and SJVN Gain Navratna Status: Finance Minister Nirmala Sitharaman granted ‘Navratna’ status to four Central Public Sector Enterprises (CPSEs): NHPC, Solar Energy Corporation of India (SECI), Railtel Corporation of India (RCIL), and Satluj Jal Vidyut Nigam (SJVN).
Bonus Issue
Bonus Issue: Reliance Industries Chairman recently announced a bonus issue for the company’s shareholders in a 1:1 criterion. A bonus issue, also known as a scrip issue or a capitalization issue, occurs when a company listed on a stock exchange decides to offer free additional shares to the existing shareholders. The company decides the number […]
Unified Payments Interface (UPI) block mechanism
Unified Payments Interface (UPI) block mechanism: Securities and Exchange Board of India (SEBI) proposed mandatory Unified Payments Interface (UPI) block mechanism facility for secondary market trading using the UPI-based block mechanism to their clients.It is similar to the Application Supported by Blocked Amount (ASBA) facility that allows trading with blocked amounts.
National Council of Applied Economic Research
National Council of Applied Economic Research: Monthly Economic Review of the National Council of Applied Economic Research (NCAER) for August acknowledges that the domestic economy remains resilient. However, it highlighted moderation in certain high-frequency indicators, such as industrial output and core sectors’ performance in June.
LIC Pays ₹3,662 Crore Dividend To Indian Government
LIC Pays ₹3,662 Crore Dividend to Indian Government: Life Insurance Corporation of India (LIC) presented a dividend cheque of ₹3,662.17 crore to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. This follows the shareholder approval of a final dividend of ₹6 per share for 2023-24, up from ₹3 per share in the previous fiscal year
Agriculture Infrastructure Fund (AIF) Scheme
Agriculture Infrastructure Fund (AIF) Scheme: The Central Government recently expanded the scope of the Agricultural Infrastructure Fund (AIF) scheme to make it more attractive, as part of its objective to strengthen farm-related infrastructure facilities in the country. Agriculture Infrastructure Fund (AIF) Scheme is a Central Sector Schemewhich was launched in 2020. The scheme shall provide […]
