India’s Budgeting: A Look at the Process and Legal Mandates
The budget is an annual financial statement of the government’s revenues and expenditures for a financial year. It is a crucial document that reflects the government’s priorities, policies and programmes. The budget also serves as a tool for accountability, transparency and fiscal discipline. Process of Budgeting The process of budgeting in India involves several stages, […]
AIBI’s 9 Initiatives: A New Dawn for Investors and Merchant Bankers in India
The Association of Investment Bankers of India (AIBI) has unveiled nine game-changing initiatives to boost investor awareness, merchant banker’s capacity building and ease of capital formation in India. The initiatives were launched at AIBI’s Annual Convention 2023-24, which was centered on the theme ‘Ease of Capital Formation’ in India. The convention was attended by Ms. […]
Red Sea Turmoil Triggers 20-25% Hike in Marine Insurance
The Red Sea crisis has triggered a 20-25% hike in marine insurance premiums, as shipping companies face increased risks of attacks by Houthi rebels in Yemen. The conflict has also disrupted global trade, forcing some vessels to reroute around Africa and adding to inflationary pressures. What is the Red Sea crisis? The Red Sea is […]
Vishwakarma Scheme: 4.78M Registration
Vishwakarma Scheme: A Boost for Indian Artisans and Craftspeople The Vishwakarma Scheme, launched by Prime Minister Narendra Modi in September 2023, is a landmark initiative to empower millions of artisans and craftspeople who work with their hands and tools in various trades. The scheme aims to provide end-to-end support to these skilled workers, who are […]
Pension Funds’ Total Corpus Surpasses Rs 11 Lakh Crore: PFRDA
The Pension Fund Regulatory and Development Authority (PFRDA) has announced that the total corpus under the National Pension System (NPS) and Atal Pension Yojana (APY) has crossed Rs 11 lakh crore as of January 10, 2024. This is a significant achievement for the pension sector in India, which aims to provide social security and retirement […]
Crypto Regulation Mechanism: Centre’s Final Decision Pending, Supreme Court Informed
The Centre has told the Supreme Court that it is yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences. A bench of justices Surya Kant and KV Viswanathan was told by Additional Solicitor General Vikramjit Banerjee, appearing for the Centre, that the issues related to the digital currency […]
Jio Financial Services Launches Laptop, Phone, Airfiber Rentals
Jio Financial Services, a subsidiary of Reliance Industries, has launched a new service that allows businesses to rent laptops, phones, airfiber and other tech devices. The service, called Device as a Service (DaaS), is a corporate financing model that aims to improve cash flow and IT fleet management for companies. What is DaaS? DaaS is […]
NPS Ditching States: Employee Corpus Continues Earning Returns
The National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme that offers a range of investment options to its subscribers. The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and aims to provide financial security to the citizens of India in their old age. However, some of the […]
LIC’s Jeevan Dhara II: A New Era of Deferred Annuity Plans
The Life Insurance Corporation of India (LIC) has launched a new individual, savings, deferred annuity plan called Jeevan Dhara II. The plan was unveiled by LIC Chairperson Siddhartha Mohanty on January 19, 2024, and will be available for sale from January 22, 2024. The plan offers a range of benefits and features to suit the […]
HDFC Bank Targets Singapore Market: The Journey Begins with a Banking License Application
HDFC Bank, India’s largest private sector lender, has applied for a banking license in Singapore, signaling its overseas ambitions after a landmark merger with Housing Development Finance Corp. last year. The bank is awaiting approval from the Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator. Why Singapore? Singapore is one of […]