Banking

Concept The article examines critical reforms in NPS Lite aimed at including the informal sector in the National Pension Scheme. This is significant as workers in this sector typically lack access to benefits like provident funds or gratuity. National Pension System-Lite (NPS-Lite) Launched by the Pension Fund Regulatory and Development …

Context: Indian industry bodies have expressed concerns regarding the Angel Tax, particularly its recent expansion in the Finance Bill 2023. This development comes amidst a decline in startup funding and job losses. Understanding Angel Tax: Angel Tax refers to the income tax levied on unlisted companies that issue shares to …

Introduction: The GREAT Scheme is an initiative by the Ministry of Textiles, Government of India. It aims to boost innovation and entrepreneurship in the technical textiles sector. Objectives: Promote research and development: GREAT encourages scientists, technologists, and startups to translate their ideas into commercially viable products and technologies for technical …

Reserve Bank of India Surplus Transfer: A Boon or Bane? GS3 :Reserve Bank Of India (RBI), Income and Expenditure of Central Bank, RBI Surplus Transfer To Government, Sources and Uses of RBI Surplus, Significance of RBI’s Surplus Transfer The Reserve Bank of India’s (RBI) recent announcement of a record-breaking ₹2.11 …

Concept Green bonds have emerged as a financial instrument aimed at channeling investments into environmentally sustainable projects. As the world grapples with climate change and environmental degradation, green bonds offer a mechanism to finance initiatives that mitigate environmental impact and promote sustainability. Definition of Green Bonds: Green bonds are debt …

TABLE OF CONTENTS News Concept Calculation Components of PMI PMI Releases News: Business activity in the services sectors likely clocked their fastest expansion in more than 13 and a half years in March, aided by a record uptick in export orders, as per the HSBC India Services Purchasing Managers’ Index …

TABLE OF CONTENTS News Concept Types of Exchange-Traded Currency Derivatives Currency Options News: The Reserve Bank of India (RBI) Thursday deferred the implementation of norms on exchange-traded currency derivatives (ETCDs) linked to Indian rupee until May 3 following concerns by investors. Concept : Derivatives are financial instruments whose value is …

AI chatbots’ advancement in India’s banking sector The Reserve Bank of India (RBI) published its 2022–2023 report on the trends and advancements in Indian banking. It examines the application of artificial intelligence (AI) in banks and how it has developed over time. About 80% of banks in India have adopted …

Introduction Microfinance is a method of lending very small sums to individuals to start or expand a small business. These borrowers tend to be low-income individuals. Features of Microfinance in India The principal amount borrowed is less than Rs 1 lakh Interest rates are lower than normal banks Does not …

The number of cases of fraud reported by banks increased both in terms of numbers and value in 2017-18, the Reserve Bank of India said in its annual report. Fraud cases, which were generally hovering at about 4,500 in the last 10 years, increased to 5,835 in 2017-18, the report …