FCI Authorised Capital Raised to Rs 21,000 Cr by Govt
The central government has increased the authorised capital of the Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore, according to a notification issued by the Ministry of Food on Friday. This move aims to provide additional equity capital to support the foodgrains stock held by the government-owned firm. What is […]
Paytm Bank Loses FASTAG Issuance Authority from NHAI
The National Highway Authority of India (NHAI) has removed Paytm Bank from its list of authorized banks for FASTag services. FASTag is an electronic toll collection system that uses Radio Frequency Identification (RFID) technology to deduct toll charges directly from the linked bank accounts. Paytm Bank, a subsidiary of One 97 Communications, is one of […]
Defence Acquisition Council Approves Rs 84,560 Cr Proposals
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has given its nod to various capital acquisition proposals worth Rs 84,560 crore to enhance the operational efficiency and self-reliance of the Indian Armed Forces and Coast Guard. The proposals include procurement of new generation anti-tank mines, Air Defence Tactical Control Radar, Heavy Weight […]
Paytm Bank: RBI Extends Restrictions Deadlines to March 15
Paytm Bank, one of the leading payment banks in India, is facing a tough time as the Reserve Bank of India (RBI) has imposed severe restrictions on its operations. The RBI has accused Paytm of persistent non-compliances and material supervisory concerns, and has ordered it to stop accepting new customers, deposits, credit transactions, fund transfers […]
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 […]
South Indian Bank: Winner of Best Tech Bank
South Indian Bank has been honoured with the title of Best Technology Bank of the Year Award at the 19th IBA Annual Banking Technology Conference, Expo & Citations. The bank’s outstanding performance was recognised with a total of six prestigious awards. In this article, we will look at the achievements of South Indian Bank in […]
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 […]
Strata: India’s First Full-Exit Fractional Platform
Strata, India’s largest commercial real estate investment platform, has announced the successful sale of its warehouse asset in Jaipur, delivering a return on investment of 13-14% to its investors over a period of two years. With this sale, Strata becomes the first fractional ownership platform (FOP) in the country to offer a full exit to […]
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% […]
IRDA’s 30-Day Free-Look Period for Insurance
If you have ever bought an insurance policy and regretted it later, you might be aware of the free-look period. It is a provision that allows you to return the policy within a specified time frame and get a refund of the premium paid, subject to certain deductions. The Insurance Regulatory and Development Authority of […]