RBI proposes setting up of web portal for quick Agri Loans

The report of the RBI Internal Working Group to Review Agricultural Credit has recommended the Indian Banks’ Association to introduce a web portal on the lines of PSB Loans in 59 Minutes to allow quicker credit access for the agriculture ..

RBI increases banks’ loan exposure limit to single NBFC

The Reserve Bank of India (RBI) has increased loan exposure limit of banks to a single NBFC. This is expected to help increase credit supply to the crisis-ridden shadow banking sector. Relaxation of Norms As per the Large Exposures Framework ..

PM Modi Launches Pradhan Mantri Kisan Maan Dhan Yojana

Prime Minister Narendra Modi launched the Pradhan Mantri Kisan Maan Dhan Yojana, a pension scheme for farmers in Jharkhand. About the Scheme The scheme is voluntary and contribution-based for farmers in the age group of 18 to 40 years. Monthly ..

Steering Committee on Fintech-related issues suggests new laws for consumer protection

The Steering Committee on fintech-related issues has recommended a new legal framework for consumer protection and has also suggested new cash flow-based financing options for micro, small and medium enterprises. What has happened? A new panel established to explore issues ..

Government e Marketplace (GeM) signs pact with SIDBI to enable growth of MSMEs, Start-ups and Women Entrepreneurs

The Government e Marketplace (GeM) has signed an MoU with Small Industries Development Bank of India (SIDBI) to benefit MSMEs, women entrepreneurs, Self Help Groups (SHGs), Women Self Help Groups (WSHGs) and various loan beneficiaries under MUDRA and Stand-up India ..

RBI Surplus Transfer to Government

The Reserve Bank of India (RBI) has decided to transfer Rs 1.76 lakh crore to the Central government from its own reserves. RBI Reserves The following three funds of RBI constitute the Reserves. They are: Currency and Gold Revaluation Account (CGRA), ..

Bimal Jalan Committee Report on Economic Capital Framework

The Reserve Bank of India (RBI) had constituted an Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India. The committee was chaired by Dr Bimal Jalan. The committee has submitted its report. Recommendations of ..

EPFO payroll data for June 2019

The Employees Provident Fund Organization (EPFO) has released the payroll enrollment data for the month of June 2019. The data has shown a net payroll addition of 43% for this month. What does the data say? As per the released ..