Page-68 of Economy & Banking Current Affairs

Exemption for PSUs from Minimum Public Float Rules

January 4, 2023

The Indian government has announced that public sector entities will be exempt from the Minimum Public Shareholding (MPS) norm. The MPS norm mandates that listed companies must have at least 25% of their shares held by the public. However, this ..

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Hydrogen for Heritage: Indian Railways Introducing Hydrogen Power Trains on Heritage Lines

January 3, 2023

At the start of the New Year 2023, Indian Railways has set a goal to modernize its heritage lines with the latest technology. To achieve this, the Ministry of Railways has announced a plan to introduce hydrogen power trains on ..

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RBI’s Systemic Risk Survey (SRS)

January 3, 2023

The Reserve Bank of India’s (RBI) latest Systemic Risk Survey (SRS) has shown that global spillovers, financial market and general risks have increased, while macroeconomic risks have moderated. The survey, which was conducted in November 2022 and solicited the perceptions ..

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Domestic Systemically Important Banks (D-SIBs) – Update (January, 2023)

January 3, 2023

The Reserve Bank of India (RBI) has named the top three lenders in India – State Bank of India (SBI), ICICI Bank, and HDFC Bank – as Domestic Systemically Important Banks (D-SIBs), or banks that are too big to fail. ..

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India’s Unemployment Rate Reaches Highest Level in 16 Months

January 2, 2023

According to data from the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate reached 8.30% in December, the highest level in 16 months. This marks an increase from the 8.00% recorded in November. The urban unemployment rate also saw ..

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RBI’s Launch of Utkarsh 2.0

January 2, 2023

The Reserve Bank of India (RBI) has launched Utkarsh 2.0, the second phase of its medium-term strategy for strengthening regulatory and supervisory mechanisms. Utkarsh 2.0 builds upon the foundation laid by Utkarsh 2022, which was launched in July 2019 and ..

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Draft Statement on Industrial Policy 2022

January 2, 2023

The Department for Promotion of Industry and Internal Trade (DPIIT) in India is currently working on a new industrial policy that aims to increase financing options for industry and promote the “Made in India” brand. This policy, titled the “Statement ..

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UPI Reaches Record High in December

January 2, 2023

India’s Unified Payments Interface (UPI) processed a record 7.82 billion transactions in December, worth a total of INR 12.82tn ($174.6bn). This represents an increase of 7.12% in volume and 7.73% in value compared to November. On a year-on-year basis, volume ..

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Supreme Court Verdict on Demonetisation Case

January 2, 2023

The Supreme Court of India has upheld the 2016 decision of the Narendra Modi government to demonetize currency notes of INR 500 and INR 1,000 denominations. The decision, which was taken by a 4:1 majority of the Constitution Bench, stated ..

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Six years of ‘Bharat Interface for Money’

January 2, 2023

On the 30th of December 2016, the Prime Minister of India, Narendra Modi, launched the Bharat Interface for Money (BHIM) payment app. Six years later, BHIM is still going strong, with a steadily increasing user base and a high volume ..

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