Financial System

Public Credit Registry (PCR)

12/8/2017 | Economic Affairs | Financial System

RBI has announced the creation of a panel to consider creation of a Public Credit Registry (PCR) operated by the regulator. The PCR will be an extensi ...

Indradhanush Scheme for banks not applied as envisaged

5/8/2017 | Economic Affairs | Financial System

According to a report by the CAG, the Centre’s ‘Indradhanush’ scheme to recapitalise public sector banks (PSBs) based on their performance was not imp ...

Bharat Bill Payment Central Unit (BBPCU)

29/7/2017 | Economic Affairs | Financial System

The National Payments Corporation of India (NPCI) has received final nod from the Reserve Bank of India (RBI) to function as the Bharat Bill Payment C ...

Cabinet nod for IWAI bond issue

26/7/2017 | Economic Affairs | Financial System

The Union Cabinet gave its nod to Inland Waterways Authority of India (IWAI) for raising Rs. 660 crore in bonds for extra budgetary resources in 2017- ...

Pradhan Mantri Vaya Vandana Yojana (PMVVY)

22/7/2017 | Economic Affairs | Financial System

PMVVY is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from 4th ...

IBBI notifies rules for bankruptcy probe

19/7/2017 | Economic Affairs | Financial System

The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Insolvency and Bankruptcy Code (IBC), has notified the regulations for ...

Goods and Services Tax Network (GSTN)

3/7/2017 | Economic Affairs | Financial System

Goods and Services Tax Network (GSTN), the information-technology backbone of India's new tax regime, is a data-storage behemoth. Nearly 80 lakh busin ...

Goods and Services Tax (GST)

2/7/2017 | Economic Affairs | Financial System

India has launched its biggest ever fiscal reform with the government promising a stronger, less corrupt economy while businesses are nervous about th ...

Handbook of Statistics on States 2016-17

1/7/2017 | Economic Affairs | Financial System

RBI has released second edition of its statistical publication titled ‘Handbook of Statistics on States 2016-17‘. This report covers all sub-national ...

RBI includes complaints against electronic banking services under ombudsman scheme

26/6/2017 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) has allowed consumers to lodge complaints against banks for non-adherence to norms related to electronic banking servi ...

Basel-III norms

24/6/2017 | Economic Affairs | Financial System

It has been made mandatory for the banks to abide by the Basel-III regulatory norms by March 2019. Government is planning to extend the deadline of it ...

Anti-profiteering authority

22/6/2017 | Economic Affairs | Financial System

The GST Council, chaired by Union Finance Minister has approved the anti-profiteering rules. As per this, a five-member anti-profiteering authority wi ...

Insolvency and Bankruptcy Code (IBC)

21/6/2017 | Economic Affairs | Financial System

Reserve Bank of India’s internal advisory committee (IAC) has identified 12 accounts, which account for 25% of non-performing assets of the Indian ban ...

Financial Resolution and Deposit Insurance Bill, 2017

16/6/2017 | Economic Affairs | Financial System

In line with the bankruptcy code for non-financial firms, the Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insura ...

Centre approves phasing out of 25-year-old FIPB

28/5/2017 | Economic Affairs | Financial System

Cabinet has decided to abolish Foreign Investment Promotion Board (FIPB). This decision is taken by the government because in the last three years 91- ...

Paytm Payments Bank

28/5/2017 | Economic Affairs | Financial System

Paytm has finally rolled out its Payments Bank. The digital wallet and e-commerce service provider received the final license from RBI for the ban. Wi ...

Public Sector Asset Rehabilitation Agency (PARA)

26/5/2017 | Economic Affairs | Financial System

The Public Sector Asset Rehabilitation Agency (PARA) colloquially called “Bad Bank” is a proposed agency to assume the Non-Performing Assets (NPA) of ...

Objectives of Demonetization

22/5/2017 | Economic Affairs | Financial System

Objectives of Demonetization Demonetisation is a radical unprecedented step by the Government to seize the status of 500 and 1000 currency notes. The ...

Impact of Demonetisation

21/5/2017 | Economic Affairs | Financial System

Short term impact Stock of black money fell, as some holders came into the tax net Private sector wealth declined, since some high denomination notes ...

Special Category Status

15/5/2017 | Economic Affairs | Financial System

The concept for first introduced in 1969 to provide disadvantaged states with preferential in the form of centralassistance and tax breaks. The states ...

Reasons of failure to curb NPAs

10/5/2017 | Economic Affairs | Financial System

Loss recognition : The Asset Quality Review was meant to force banks to recognise the true state of their balance sheets. However banks still continue ...

Government gives more power to RBI to identify bad loans and tackle them

9/5/2017 | Economic Affairs | Financial System

The Union Cabinet approved the promulgation of an ordinance to amend the Banking Regulation Act, preparing ground to take tough action against chronic ...

Measures taken by RBI for resolution of NPAs: Economic Survey 2016-17

8/5/2017 | Economic Affairs | Financial System

Measures taken by RBI for resolution of NPAs 5/25 rule of refinancing of Infrastructure : This scheme offered a larger window for revival of stressed ...

Employment under PMEGP falls 9.5%

3/5/2017 | Economic Affairs | Financial System

According to a study conducted by ASSOCHAM job opportunities under the Prime Minister’s Employment Generation Programme (PMEGP) fell over 9.5% year-on ...

One IP- Two Dispensaries scheme And Aadhaar based Online Claim Submission scheme

3/5/2017 | Economic Affairs | Financial System

Minister of State (I/C) for Labour and Employment has launched two schemes “One IP- Two Dispensaries” and “Aadhaar based Online Claim Submission” on t ...

India’s Forex reserve surge by $1.25 Billion

1/5/2017 | Economic Affairs | Financial System

India's foreign exchange (Forex) reserves rose by $1.25 billion till the second week of April month. According to the Reserve Bank of India's weekly s ...

Sovereign Gold Bonds 2017-18

24/4/2017 | Economic Affairs | Financial System

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 – Series I. The Bonds will be s ...

RBI tightens norms on bank performance

18/4/2017 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) has tightened the rules that trigger regulatory action on lenders when they fall short of capital or exceed bad loan l ...

Pradhan Mantri Mudra Yojana (PMMY)

17/4/2017 | Economic Affairs | Financial System

Loans extended under the Pradhan Mantri Mudra Yojana (PMMY) during 2016-17 have crossed the target of Rs. 1,80,000 crore for 2016-17. Of this amount, ...

BHIM-Aadhaar platform

15/4/2017 | Economic Affairs | Financial System

Prime Minister has launched BHIM-Aadhaar platform from Nagpur. BHIM-Aadhaar platform is the merchant interface of the BHIM App that has been launched ...

Smaller states and Trade

19/2/2017 | Economic Affairs | Financial System

According to Economic Survey, Smaller States such as Uttarakhand, Himachal Pradesh and Goa trade more, while the net exporters are the manufacturing p ...

India’s twin balance sheet problem

18/2/2017 | Economic Affairs | Financial System

Economic Survey 2016-17 devotes an entire section to the twin balance sheet problem of stressed corporates and banks. A solution to the NPA problem mu ...

Cabinet approves acquisition of subsidiary banks of State Bank of India

17/2/2017 | Economic Affairs | Financial System

The cabinet approved the proposed merger of State Bank of India (SBI) and five subsidiaries. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hy ...

Indradhanush 2.0

15/2/2017 | Economic Affairs | Financial System

Government plans to come out with ‘Indradhanush 2.0’, a comprehensive plan for recapitalisation of public sector lenders, with a view to make sure the ...

The Central Board of Direct Taxes (CBDT) issued guidelines on the ‘place of effective management’

30/1/2017 | Economic Affairs | Financial System

The Central Board of Direct Taxes (CBDT) issued guidelines on the ‘place of effective management’, or POEM, of a company to determine its tax liabilit ...

Varishtha Pension Bima Yojana

29/1/2017 | Economic Affairs | Financial System

The Union Cabinet has given its approval for the launch of the Varishtha Pension Bima Yojana 2017. Features of Varishtha Pension Bima Yojana 2017 The ...

CMs Committee on Digital Payments

27/1/2017 | Economic Affairs | Financial System

The CMs Committee on Digital Payments led by the convener and Andhra Pradesh Chief Minister, Shri Chandra Babu Naidu has submitted the interim report ...

Cooperative banks cannot accept PMGKY deposits

22/1/2017 | Economic Affairs | Financial System

The government announced that cooperative banks will not be authorised to accept deposits under the Pradhan Mantri Garib Kalyan Deposit Scheme. Accord ...

Bitcoin is the new safe-haven asset

9/1/2017 | Economic Affairs | Financial System

Bitcoin is becoming as safe a haven as gold. The price of the cryptocurrency has been rapidly rising in recent weeks. It traded above $730 per bitcoin ...

India Post Payments Bank

8/1/2017 | Economic Affairs | Financial System

INDIA POST PAYMENT BANK (IPPB) In a bid to boost financial inclusion in the country, the RBI has given approval to the Department of Posts (DoP) to se ...

Financial data management centre (FDMC)

3/1/2017 | Economic Affairs | Financial System

The Committee, headed by Ajay Tyagi , has suggested setting up a financial data management centre (FDMC) for managing the repository of financial regu ...

Unified Payments Interface

2/1/2017 | Economic Affairs | Financial System

UNIFIED PAYMENTS INTERFACE India is still a cash intensive economy with cash to GDP ratio of over 12%. Still around 95% of transactions by volume and ...

‘Google Tax’ detrimental to startup ecosystem

27/12/2016 | Economic Affairs | Financial System

The equalisation levy, also known as Google Tax’ which the government is imposing on online advertising revenue by non-resident e-commerce companies e ...

RBI imposes penalty on five foreign banks for forex violations

25/12/2016 | Economic Affairs | Financial System

RBI imposes penalty on 5 foreign banks for violating FEMA rules The Reserve Bank of India (RBI) has imposed fine on five foreign banks namely, Standar ...

SBI Research report on digital Economy

24/12/2016 | Economic Affairs | Financial System

According to a report released by SBI, the per-value transactions of debit and credit cards at points of sale (PoS) terminals has declined after demon ...

NITI Aayog announces schemes incentivising digital payment

16/12/2016 | Economic Affairs | Financial System

NITI Aayog has announced the launch of the schemes Lucky Grahak Yojana and the Digi-Dhan Vyapar Yojana to give cash awards to consumers and merchants ...

Bitcoins

28/11/2016 | Economic Affairs | Financial System

There is an increase in bitcoin adoption in India which is coupled with the government’s decision to demonetise Rs.500 and Rs.1,000 notes. Recently, U ...

RBI proposes ‘Islamic window’ in banks

23/11/2016 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) has proposed opening of “Islamic window” in conventional banks for “gradual” introduction of Sharia-compliant or inter ...

4-level GST rate structure

5/11/2016 | Economic Affairs | Financial System

GST council has finalized a 4-tier tax structure of 5, 12, 18 and 28%, with lower rates for essential items and the highest for luxury and de-merits g ...

Bitcoins

26/10/2016 | Science Affairs | Financial System

Narcotics Control Bureau (NCB) is set to freeze about 500 Bitcoins in the accounts of traffickers, the first ever seizure of the virtual, unregulated ...

Capital account Convertibility

25/10/2016 | Economic Affairs | Financial System

The government is not yet ready for full capital account convertibility even though former governor of RBI Raghuram rajan had said the central bank wa ...

HDFC raises Rs 500 crore via masala bonds

24/10/2016 | Economic Affairs | Financial System

Mortgage lender HDFC has raised Rs 500 crore through the sale of Masala Bonds. HDFC has raised a total of Rs 5,000 crore through issuance of rupee-den ...

Public Debt Management Cell

12/10/2016 | Economic Affairs | Financial System

The Centre has decided to set up an independent agency to mange its debt. As a precursor, the Finance Ministry will soon set up the Public Debt Manage ...

Centre constitutes Insolvency and Bankruptcy Board

5/10/2016 | Economic Affairs | Financial System

The Centre has constituted a four-member Insolvency and Bankruptcy Board of India (IBBI) under the Chairmanship of MS Sahoo. Now IBBI has only four me ...

Sovereign Gold Bonds issue date extended

25/9/2016 | Economic Affairs | Financial System

Reserve bank of India has shifted the issue date of Sovereign gold bond scheme up to September 30 for “smooth” uploading of the subscriptions in its ‘ ...

Ponzi schemes

14/9/2016 | Economic Affairs | Financial System

The Union Government has issued model guidelines for states to regulate direct selling and multi-level marketing businesses to protect consumers from ...

Municipal bonds

10/9/2016 | Economic Affairs | Financial System

To help the government's 'smart cities' programme, capital markets regulator SEBI notified new norms for listing and trading of municipal bonds on sto ...

Masala bonds

30/8/2016 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) has announced different measures to boost investor participation and market liquidity in both the corporate bond and c ...

Centre injects Rs.22,915 cr into 13 public sector banks

22/7/2016 | Economic Affairs | Financial System

In a bid to boost credit growth in the economy, the Centre announced a sum of Rs.22,915 crore for recapitalisation of 13 public sector banks. State Ba ...

BSE launches online system for Sovereign gold bond

15/7/2016 | Economic Affairs | Financial System

BSE(Bombay Stock Exchange) has launched an online bidding platform for sovereign gold bonds and has begun conducting mock bidding sessions on the syst ...

SEBI(Security Exchange Board Of India) Issues Stricter norms For P-Notes

15/7/2016 | Economic Affairs | Financial System

Markets regulator SEBI has put in place a stricter KYC and disclosure regime for Participatory Notes to make it tougher to use these offshore instrume ...

FCNR get FSDC nod

8/7/2016 | Economic Affairs | Financial System

In September 2013, to shore up foreign exchange reserves and stabilize a rapidly weakening rupee, the RBI had introduced a special scheme under which ...

Payment and Settlement Systems in India: Vision-2018

30/6/2016 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) released the “Payment and Settlement Systems in India: Vision-2018”. The vision reiterates the aims of building a “les ...

The Centre’s big reform push

22/6/2016 | Economic Affairs | Financial System

The government has announced a “radical liberalisation” of the Foreign Direct Investment (FDI) regime by easing norms for a host of important sectors ...

RBI revises Debt Recast Norms: Scheme for Sustainable Structuring of Stressed Assets' (S4A)

15/6/2016 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) has revised the norms for banks to undertake debt restructuring if they feel the project is viable in the long run. Th ...

Corporate Debt

2/6/2016 | Economic Affairs | Financial System

Corporate debt is the biggest threat Indian banking sector and economy is facing . Governor of RBI also highlighted this problem along with urgency to ...

MUDRA(Micro Units Development and Refinance Agency Bank)

1/6/2016 | Economic Affairs | Financial System

Micro Units Development and Refinance Agency Bank (MUDRA Bank), is setup by the Government of India for development of micro units and refinance of MF ...

Payment banks

27/5/2016 | Economic Affairs | Financial System

There is withdrawl of applications to open payment banks by major business houses due to its not so profitable nature. Tech Mahindra/ Sun Pharma promo ...

Gulf remittances to India fall by 2.2%

25/5/2016 | Economic Affairs | Financial System

Remittances from the Gulf Cooperation Council (GCC) region to India declined for the first time in six years, falling by 2.2%, according to a report f ...

Bankruptcy code passed by Lok Sabha

12/5/2016 | Economic Affairs | Financial System

The Insolvency and Bankruptcy Code Bill passed in the Lok Sabha . It is a ‘watershed’ reform that will facilitate ease of doing business by identifyin ...

Banks Board Bureau (BBB): Benefits and challenges

4/5/2016 | Economic Affairs | Financial System

Banks Board Bureau (BBB) was formed in 2016 as a part of Indradhanush programme to revamp state-run banks. Former CAG Vinod Rai was appointed as the f ...

Peer- to- Peer lending

1/5/2016 | Economic Affairs | Financial System

The Reserve Bank of India ( RBI) has come out with a discussion paper to regulate the fast- growing crowd- funding and peer- to- peer ( P2P) lending s ...

Joint parliament standing committee clears bankruptcy law

30/4/2016 | Economic Affairs | Financial System

The joint parliament standing committee has cleared the Bankruptcy and Insolvency Code, 2015. The Bill was introduced in Lok Sabha in December 2015. A ...

RBI to harmonise bank, NBFC norms

27/4/2016 | Economic Affairs | Financial System

Reserve Bank of India (RBI) has decided to simplify the registration process for non-banking finance companies (NBFCs). The new application forms will ...

Budget sets priorities for government spending

2/4/2016 | Economic Affairs | Financial System

Budget 2016-17 has introduced a new classification system for the Centre’s spending. The new system divides Centrally Sponsored Schemes (CSS) into thr ...

SEBI board clears wilful defaulter rules

16/3/2016 | Economic Affairs | Financial System

In an attempt to tighten the regulatory framework, the Securities and Exchange Board of India (SEBI) has barred ‘wilful defaulters’ from accessing the ...

Banks Board Bureau

6/3/2016 | Economic Affairs | Financial System

Former CAG Vinod Rai has been appointed as the first Chairman of the Banks Board Bureau. About Banks Board Bureau. The bureau was announced as part of ...

NPAs(Non Performing Assets) in India: Supreme Court intervention and its possible solutions

29/2/2016 | Economic Affairs | Financial System

The Supreme court asked the Reserve Bank of India to furnish a list of the companies which are in default of loans by the banks and financial institut ...

Spot Exchange Of Gold: Solution For Efficient Gold Ecosystem In India

24/2/2016 | Economic Affairs | Financial System

India is the world’s second largest gold consumer with an annual demand of nearly 1,000 tonnes, but it lacks many key elements of an efficient gold ec ...

New Indian Accounting Standards (Ind-AS)

9/2/2016 | Economic Affairs | Financial System

India is changing its accounting standards from generally accepted accounting principles (GAAP) to Indian Accounting Standards (Ind-AS) from April 201 ...

Regulation Of Small Firms

9/2/2016 | Economic Affairs | Financial System

Recently Government announced Rs. 10,000 fund for startup India campaign. Mainly startup companies are registered as small firms and more prone to the ...

Tapan Ray Report

4/2/2016 | Economic Affairs | Financial System

Tapan Ray panel has submit its suggestions to ministry which was constituted to look into the amendments to Companies Act, 2013. The Committee had ext ...

RBI Simplifies Gold Monetization Scheme

28/1/2016 | Economic Affairs | Financial System

Interest earned on deposits under the central government’s Gold Monetisation Scheme will not attract any tax; gain through trading or redemption will ...

New ECB (External Commercial Borrowing) Norms By RBI

27/1/2016 | Economic Affairs | Financial System

The Reserve Bank of India (RBI) has eased the norms for raising funds through external commercial borrowing (ECB) route. At present, corporates can av ...

Bharat Innovation Fund

19/1/2016 | Economic Affairs | Financial System

The Bharat Fund is an endeavor to bring together government, academia and corporate to create an enabling ecosystem and encourage youth to solve India ...

RBI Links Lending Rates To Loan Tenor

23/12/2015 | Economic Affairs | Financial System

The Reserve Bank of India released the final guidelines on computing interest rates on advances based on the marginal cost of funds. The guidelines co ...

ROHINI

11/12/2015 | Economic Affairs | Financial System

In order to bring all relevant information regarding health insurance policies at one place, IRDAI (Insurance Regulatory Development Authority) has an ...

Straddle and paired options contracts

7/12/2015 | Economic Affairs | Financial System

The BSE (Bombay Stock Exchange) started new specialized contracts, named ‘straddle and paired options’, in its currency derivatives segmen ...

Bhavishya

23/11/2015 | Economic Affairs | Financial System

The Department of Pension & Pensioners’ Welfare has launched a web based Pension Sanction and Payment Tracking System “ BHAVISHYA&rdqu ...

Bonds denominated in Rupees

17/11/2015 | Economic Affairs | Financial System

Indian companies have raised debt funds overseas for decades, including through bond offerings. But these have been borrowings in dollar or other curr ...

Uniform Guidelines on Internet Banking for Cooperative Banks

7/11/2015 | Economic Affairs | Financial System

Reserve Bank of India (RBI) on 5 November 2015 issued revised and uniform guidelines on Internet Banking for all licensed cooperative banks including ...

Global Financial Secrecy Index: 2015

4/11/2015 | Economic Affairs | Financial System

The 2015 Global Financial Secrecy index was recently released by the Tax Justice Network (TJN). This highlights places around the world that provide s ...

Gold Monetisation Scheme- Guidelines

26/10/2015 | Economic Affairs | Financial System

Reserve Bank of India (RBI) has allowed banks to fix their own interest rates on gold deposits under the Gold Monetisation Scheme. In this regard RBI ...

RBI issues direction on implementation of Gold Monetisation Scheme

25/10/2015 | Economic Affairs | Financial System

The Reserve Bank of India today issued a Direction to all Scheduled Commercial Banks (excluding Regional Rural Banks) on implementation of theGold Mon ...

Sovereign Gold Bonds Scheme approved

16/9/2015 | Economic Affairs | Financial System

Sovereign Gold Bonds Scheme has been approved by govt. Modalities of the scheme are as follows: The gold bonds will be issued by the Reserve Bank of I ...

Indradhanush- a plan to revamp state-run banks

14/9/2015 | Economic Affairs | Financial System

The Indian government has launched a sweeping action plan to revamp state-run banks, offering their management teams the promise of performance incent ...

Gold Monetization Schemes (GMS) gets cabinet approval

14/9/2015 | Economic Affairs | Financial System

The Union Cabinet chaired by the Prime Minister has given its approval for introduction of Gold Monetization Schemes (GMS), as announced in the Union ...

Payment Banks

3/9/2015 | Economic Affairs | Financial System

Recently Reserve Bank of India has given in principle approval for 11 entities to set up payments banks. The move has been touted as a harbinger of a ...

Black Monday

26/8/2015 | Economic Affairs | Financial System

The sensex crashed a record 1,625 points to 25,742, a one-year low level, leaving investors poorer by Rs 7 lakh crore (over $100 billion) while the ru ...

Indradhanush Lacks Steps To Tackle NPAs

20/8/2015 | Economic Affairs | Financial System

Project “Indradhanush” unveiled by the government lays down the framework for the revival of public sector banks but worries from the bank ...

  • IAS,PCS,HAS,HCS Online Testing and Evaluation System by Abhimanu
  • Issues and Analysis for civil services
  • IAS Pre 2017 Online Mock Test

Topper Speaks

Khandagale Dhammapal
Khandagale Dhammapal Rank-1020 Year-2017 (IAS)
Dear Sir thank you for your warm wishes. I always had conviction in my abilities and the constant support and guidance from teachers and mentors like you helped me a lot in this strenuous journey , I would also like to thank you from the bottom of the heart for taking pains of providing questions on my DAF for personality test and sending me interview preparation book from Delhi to remote location of Latur in Maharastra. Once again thank you for helping me realize my dream.
View More
my coins