The Reserve Bank of India (RBI) has instructed banks and non-banking financial companies (NBFCs) to promptly review their practices to guarantee fairness and transparency in the interest rates applied to customers. This directive follows the detection of various cases where loans were subject to excessive interest charges. The RBI highlighted in its circular that, during …
The secretary of mines V. L. Kantha Rao informed on Monday that the auction of critical mineral blocks is gaining momentum. The government will put on sale around 20 critical mineral blocks in the fourth round of auction by the end of June. He further said that the process for seven blocks put on sale …
Every year on May 1st, Maharashtra Day, also called Maharashtra Diwas, is observed to mark the state’s creation in 1960 when it was split off from the former Bombay State. On May 1, 1960, the Bombay State was divided between the linguistic states of Maharashtra and Gujarat, leading to the creation of the state of …
UPI Volume Growth Trends Unified Payments Interface (UPI) continues its upward trajectory, showcasing remarkable growth in transaction volume over the past months. According to data, UPI transactions surged from 8,038.59 million in January 2023 to a staggering 13,440 million in March 2024. This consistent rise underscores the increasing popularity and adoption of UPI as the …
The Gati Shakti scheme was introduced to connect infrastructure projects, lower logistics costs, enhance connectivity, and boost job creation. The project has significantly improved Indian Railways’ revenue. The Gati Shakti Cargo Terminal serves commercial needs like freight transport. Gati Shakti Scheme The central government aimed to establish 100 Gati Shakti Terminals within a five-year timeframe …
The Reserve Bank of India (RBI) has highlighted the potential impact of heatwaves on inflation in its recent reports. According to this, the prolonged heat waves could pose a risk to inflation by directly impacting agricultural production and pushing up food prices. Additionally, geopolitical tensions could also contribute to inflationary pressure by affecting commodity prices, …
The Reserve Bank of India has instructed the regulated non-bank Payment System Operators (PSOs) to monitor and report suspicious or high-value transactions due to the ongoing Lok Sabha elections, aiming to prevent misuse of e-fund transfers for voter influence or indirect funding of candidates. RBI seeks to enhance transparency and curb illegal financial activities, especially …
Foreign Portfolio Investors (FPIs) play a crucial role in the Indian stock market. Their investment decisions can significantly impact market volatility and overall health. Our analysis reveals a mixed picture. While there’s no clear, consistent pattern across all elections, the data suggests some interesting trends. In the 2014 elections, FPI net total flows were positive …
Amid tensions between Maldives and India, the Directorate General of Foreign Trade on Monday issued a notification imposing port restrictions for the export of essential commodities to the island nation during the fiscal year 2024-25. What has Happened? The Directorate General of Foreign Trade has imposed port restrictions on exporting essential commodities to the Maldives …
In a bid to enhance transparency and protect consumers, the Reserve Bank of India (RBI) has introduced new regulations for retail and MSME term loans. These changes, effective from October 1, 2024, are set to revolutionize the lending landscape in India. The cornerstone of these regulations is the Key Fact Statement (KFS), which aims to …
