SBI in RBI Talks for Lower CRR on Green Deposits
State Bank of India (SBI), the nation’s largest lender, is in talks with the Reserve Bank of India (RBI) to lower the cash reserve ratio (CRR) requirement on green deposits, a new scheme launched by the bank to fund green and climate-friendly projects. The bank hopes that a reduction in CRR will make green deposits […]
Centralised Processing Centre Begins for Company Filings
The government has launched a new initiative to process various forms and applications filed by companies and LLPs in a centralised and faceless manner. The initiative is called the Central Processing Centre and it aims to provide ease of doing business and faster processing of corporate filings What is Centralised Processing Centre and how does […]
Japan Now World’s Fourth-Largest Economy
Japan has lost its spot as the world’s third-largest economy to Germany, after slipping into recession in 2023. The country’s GDP in dollar terms fell to $4.2 trillion, compared with $4.5 trillion for Germany, according to data released on Thursday. Japan’s economy contracted by 0.1% in the fourth quarter of 2023, following a revised 0.8% […]
Informal Micro Enterprises Get Upto Rs 20 Lakh Loans
The government has launched a special scheme for Informal Micro Enterprises (IMEs) to provide them easy access to credit without collateral or third-party guarantee. The scheme is expected to empower individual entrepreneurs and create an inclusive, dynamic, and resilient economic ecosystem. What are Informal Micro Enterprises? Informal Micro Enterprises (IMEs) are small businesses that operate […]
Banks, Fintechs Offer Zero Forex Cards to Young Indian Tourists
The problem of forex markup fees Traveling abroad is no longer a luxury for young Indian professionals, who are increasingly exploring new destinations and cultures. However, one of the biggest challenges they face is the high cost of foreign exchange transactions, which can eat into their travel budget. Typically, when you use a credit or […]
Govt’s PLI scheme Draws Rs 12,900 Cr for Steel
The government of India has launched a Production Linked Incentive (PLI) scheme for specialty steel in October 2021, with an outlay of Rs 6,322 crore over five years. The scheme aims to promote the production and export of high-grade steel products that have higher value addition and lower import dependence. Overview of the PLI scheme […]
PM Modi UAE Visit: UPI, CBSE, and BAPS Highlights
PM Modi concluded his two-day official visit to the United Arab Emirates (UAE) on Wednesday, where he met with the top leadership of the country, addressed the World Government Summit in Dubai, inaugurated the first Hindu temple in Abu Dhabi and launched several initiatives to boost cooperation in various fields. Here are some of the […]
GeM Milestone: Defence Ministry’s Rs 1 Lakh Cr Orders
The Ministry of Defence (MoD) has achieved a remarkable feat by surpassing the Rs 1 lakh crore mark in terms of total order value transacted through the Government e-Marketplace (GeM) portal. This is the first central government entity to cross this figure, demonstrating its commitment to optimise public spending and promote self-reliance in the defence […]
Bima Sugam: IRDAI’s New E-Marketplace for Insurance
Bima Sugam is an electronic insurance marketplace proposed by the Insurance Regulatory and Development Authority of India (IRDAI) to provide a one-stop online shop for all insurance policies. The IRDAI has released draft regulations for Bima Sugam, which aims to protect and empower policyholders’ interests, increase insurance penetration in India, and enhance availability, affordability, and […]
BIT & IGA on IMEC: Highlights of India-UAE Pacts
India and the UAE have signed seven agreements, including a Bilateral Investment Treaty (BIT) and an Intergovernmental Framework Agreement on the India-Middle East-Europe Economic Corridor (IMEC). These pacts will enhance trade, investment, energy and digital cooperation between the two countries and beyond. What is IMEC? The IMEC is a visionary initiative that aims to connect […]