IDBI Bank
Exemption for PSUs from Minimum Public Float Rules
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 ..
Month: Current Affairs - January, 2023
Category: Economy & Banking Current Affairs
FIRSTAP – India’s First Sticker-based Debit Card
IDFC First Bank, in association with the National Payments Corporation of India (NPCI), recently launched FIRSTAP – India’s first sticker-based debit card. What is a sticker-based debit card? A sticker-based debit card allows the user to make transactions by simply ..
Month: Current Affairs – November, 2022
Category: Economy & Banking Current Affairs
LIC introduces Technology Platform ‘e-PGS’
Life Insurance Corporation (LIC) has launched a centralized web-based workflow-based IT platform called “e-PGS”. Why this platform was launched? LIC launched this platform for its group business operations. Project e-PGS was inaugurated by M R Kumar, Chairman of LIC, at ..
Month: Current Affairs - June, 2021
LIC-owned IDBI Bank removed from PCA framework
The Reserve Bank of India (RBI) has removed IDBI Bank from the Prompt Corrective Action (PCA) framework which is the enhanced regulatory supervision of RBI on March 10, 2021. The bank was removed from the framework after four years as ..
Month: Current Affairs - March, 2021
Finance Minister presents First Supplementary Demand of Grants
The Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman on Thursday, 28 November 2019 sought Parliament’s approval for capital infusion as a part of the first supplementary demand of grants for Rs 21,246.16 crore which will include: 1)About Rs, ..
What is the recently launched Credit linked Capital Subsidy Scheme (CLCSS) for MSMEs?
The Indian Government has decided to extend a special Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Upgradation to the MSMEs. This money is to be utilized for the Technology Upgradation. The Indian Government relaizes that the equipping a business ..
SIDBI introduces web-based application system for contribution from Fund of Funds for Startups (FFS)
SIDBI has introduced web-based application system for contribution from Fund of Funds for Startups (FFS). The applications for contribution from various Alternative Investment Funds (AIFs) will now be accepted online and the status of the same shall be accessible to ..
RBI sells entire stake in NABARD, NHB to Government for Rs 1,470 crore
Reserve Bank of India has sell entire stake in NABARD and NHB to Government for Rs 1470 crore. The RBI has exited the National Housing Bank (NHB) and the National Bank for Agriculture & Rural Development (NABARD), by selling its ..