RBI Sticks to Repo Rate: Seventh Unchanged Period
In a move closely watched by financial markets and businesses, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to hold the key repo rate unchanged at 6.5% for the seventh consecutive time on April 5, 2024. This decision underscores the RBI’s unwavering commitment to reining in inflation and maintaining financial stability. Inflation […]
SEBI Launches SCORES 2.0: Improving Investor Complaints
The Securities and Exchange Board of India (SEBI) recently unveiled a significant upgrade to its SCORES platform – SCORES 2.0. This revamped system aims to empower investors in the securities market by streamlining the complaint redressal process. Faster Resolutions and Streamlined Processes SCORES (SEBI Complaint Redress System) is an online portal designed for investors to […]
MGNREGS : 4-10% Raise in Rural Job Scheme Wages
In a move that will bring much-needed relief to millions of rural households grappling with rising inflation, the central government announced a revision to MGNREGS wages, effective March 27, 2024. This revision promises a significant boost to livelihoods, with wage hikes ranging from 4% to 10% depending on the state. State-wise Disparity: A Cause for […]
Government Plans ₹7.5 Lakh Crore Market Borrowing FY25
The Indian government has unveiled an ambitious borrowing plan, targeting Rs 7.5 lakh crore from the domestic market in the first half of the financial year 2024-25 (FY25). This figure marks a significant portion (53%) of the total borrowing target of Rs 14.13 lakh crore set for FY25. The raised funds will be used to […]
MUDRA Loan Scheme: Rs 27.75 Lakh Crore Disbursed
The Pradhan Mantri MUDRA Yojana (PMMY), a game-changing initiative launched in 2015 to provide institutional credit to micro and small enterprises (MSEs), has achieved a remarkable milestone. As of November 24, 2023, over Rs 27.75 lakh crore worth of loans have been disbursed under the scheme, significantly impacting over 47 crore small and new entrepreneurs […]
FPIs’ March Investments: Rs 50,000 Cr in Equity, Debt
Foreign Portfolio Investors (FPIs) have exhibited sustained optimism in the Indian economy by injecting a net investment of Rs 50,493 crore ($6.3 billion) into the Indian stock and debt markets during March 2024. This positive stance comes in the face of significant volatility that roiled the stock market throughout the month. Data gleaned from the […]
T+0 Settlement Beta: SEBI Begins Trading with 25 Scrips
The Indian stock market is set for a potential shakeup with the introduction of T+0 settlement beta. Announced by the Securities and Exchange Board of India (SEBI) in March 2024, this program marks a significant shift from the existing T+1 settlement cycle, where trades settle one business day after execution. T+0 Explained: Same-Day Settlement Under […]
India, ADB Sign $181M Loan to Boost Ahmedabad’s Livability
In a significant move for urban development in India, the Government of India and the Asian Development Bank (ADB) have signed a loan agreement valued at $181 million. This strategic partnership targets the Ahmedabad Peri-urban Livability Improvement Project, a comprehensive initiative designed to elevate living standards for an estimated 2.6 million residents in Ahmedabad, Gujarat’s […]
TEPA Parliamentary Approval Initiated by Swiss Govt
The Swiss government has announced that it will start the parliamentary approval process for the Trade and Economic Partnership Agreement (TEPA) with India, which was signed on Sunday after 16 years of negotiations. The TEPA aims to boost trade and investment between the European Free Trade Association (EFTA) states and India, by reducing tariffs, improving […]
Bank Staff Set for 17% Wage Boost, Pending Sat Holidays
Bank employees in India have agreed to a 17% annual wage hike, which will benefit 8 lakh workers and cost public sector banks around Rs 8,284 crore more per year. The agreement also recognises all Saturdays as holidays, subject to government approval. Wage Hike Details Bank employees in India have something to cheer about as […]