Modi Launches Green Credits: A New Era of Eco-Recovery on Degraded Lands
The Green Credit Program was officially notified on October 13, 2023, as part of India’s pro-active approach to address climate change and promote eco-conscious practices. It was announced during the COP28 climate talks.
RBI Reports: Over Rs 9,000 Crore in Rs 2,000 Notes Still with Public
Approximately 97.26% of Rs 2,000 banknotes have been returned to the banking system. This leaves about Rs 9,760 crore worth of these notes still with the public.
Revolution in Textiles: India’s Man-Made Fibre Sector Targets $11.4B by 2030
This sector’s expansion is forecasted to result in a 75% surge in exports, rising from approximately $6.5 billion in 2021-2022 to an impressive $11.4 billion by 2030.
India’s Retail Boom: Shopping Malls to Grow by 35%
The sector is expected to attract investments upwards of Rs 20,000 crore in the coming years. This capital influx is primarily driven by the resumption of previously stalled projects and the robust operating performance of existing malls.
Balancing Act: The 16th Finance Commission and India’s Tax Devolution
The terms of reference (ToR) for the 16th Finance Commission have been approved by the Union Cabinet, chaired by Prime Minister Narendra Modi. The Commission will review the devolution of taxes between the Centre and states for the five-year period from April 1, 2026, to March 31, 2031. Its report is expected to be submitted by October 31, 2025.
Navigating the Housing Crisis: RBI’s Plan for Stalled Real Estate Projects
The recent decision by the Reserve Bank of India (RBI) to allow additional housing loans for stalled real estate projects to be treated as standard credit is a significant move in the Indian real estate sector.
Karnataka’s Industrial Revolution: 62 Projects, Rs 3,607 Crore Investment
The Karnataka government has recently approved a significant influx of industrial investment, totaling 62 proposals worth Rs 3,607.19 crore. This substantial economic boost promises to create 10,755 jobs within the state.
RBI’s New Rule: ₹100 Daily Penalty for Credit Bureaus Over Complaint Delays
The RBI has mandated that CIs and CICs must resolve complaints filed by customers within 30 calendar days. If they fail to do so, they are required to pay a fine of ₹100 per day for every day of delay beyond this period.
RBI Expands Digital Reach: PM Vishwakarma Scheme Joins PIDF
The PIDF Scheme, operationalized in January 2021, initially had a duration of three years, set to end in December 2023. However, its success and potential impact led to an extension up to December 31, 2025.
Ayush and Waterways: A Rs 1,100 Crore Leap Towards Northeast’s Transformation
The Indian government, under the leadership of Union Minister Sarbananda Sonowal, has announced a significant investment of Rs 1,100 crore for the development of 25 inland waterway projects and various Ayush projects in the Northeast region.