Page-31 of Economy & Banking Current Affairs

Committee of Experts to ‘Onshoring the Indian Innovation to GIFT IFSC

August 26, 2023

The International Financial Services Centres Authority (IFSCA) received a report from the “Committee of Experts to Onshoring the Indian Innovation to GIFT IFSC.” The committee, chaired by Shri G. Padmanabhan, Former Executive Director of RBI, aimed to understand why Indian ..

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‘Mera Bill Mera Adhikaar’ Initiative

August 25, 2023

The government has announced the launch of the ‘Mera Bill Mera Adhikaar’ initiative, aimed at fostering a culture of customers requesting invoices for all purchases. Starting on a pilot basis for 12 months from September 1, the initiative will be ..

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What is Bharat-NCAP?

August 22, 2023

Union Minister Nitin Gadkari announced the launch of India’s own crash-testing program, Bharat New Car Assessment Programme (Bharat NCAP), aimed at improving road safety standards for motor vehicles up to 3.5 tonnes. The program will award star ratings to vehicles ..

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RBI Sets Guidelines for Penal Charges on Loan Defaults

August 19, 2023

The Reserve Bank of India (RBI) has issued guidelines to lenders, directing them to categorize penalties for borrower defaults as ‘penal charges’ rather than ‘penal interest.’ The RBI’s guidelines emphasize that these charges must be “reasonable” and proportional to the ..

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RBI Mandates Flexible Options for Personal Loan Borrowers

August 19, 2023

The Reserve Bank of India (RBI) has directed regulated entities, including banks and NBFCs, to provide personal loan borrowers the flexibility to switch from floating to fixed rate interest regimes at the time of interest rate resets. In a circular, ..

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Credit Suisse and UBS Global Wealth Report

August 18, 2023

For the first time since the 2008 financial crisis, global household wealth has experienced a decline due to rising interest rates and persistent inflation. However, amidst the challenges, the situation offers a glimmer of hope. The annual Credit Suisse and ..

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UDGAM (Unclaimed Deposits – Gateway to Access inforMation)

August 18, 2023

The Reserve Bank of India (RBI) has introduced a Centralised Web Portal named UDGAM (Unclaimed Deposits – Gateway to Access inforMation). This portal, developed by the RBI, enables the public to conveniently search for unclaimed deposits across multiple banks from ..

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SEBI Cuts IPO Listing Time to Three Days

August 10, 2023

In a landmark decision aimed at streamlining the capital market operations, the Securities and Exchange Board of India (SEBI) has ushered in a new era for public issues. Revamped Listing Time-Frame SEBI recently announced a crucial reduction in the time ..

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