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BHASHINI-PFRDA Partnership Enhances Multilingual Pension Service Delivery Why in the News ? The Digital India BHASHINI Division and PFRDA have signed an MoU under ‘BHASHINI for Seva–Sanchalan’ to integrate multilingual AI tools into pension systems, improving accessibility, inclusivity, and communication for users across India’s diverse linguistic landscape. 1. Key Features of BHASHINI–PFRDA Collaboration The MoU …
Read MoreWomen Bank Mitras Drive Rural Wealth Creation Why in the News ? With over 57 crore Jan Dhan accounts, including 32 crore held by women, attention has shifted from financial access to economic empowerment. Initiatives like Business Correspondent Sakhi and proposed SHE Marts aim to convert rural women into active wealth creators. From Financial Inclusion …
Read MoreRBI ISSUES DRAFT REVISED GUIDELINES FOR LEAD BANK SCHEME Why in the News? Draft Circular: Reserve Bank of India (RBI) released draft revised guidelines for the Lead Bank Scheme (LBS) seeking public comments. Institutional Reform: The revision aims to strengthen coordination mechanisms under the State Level Bankers’ Committee (SLBC) OBJECTIVES OF REVISED LEAD BANK SCHEME …
Read MoreMadhya Pradesh Hikes Ladli Behna Scheme Allowance Why in the News ? The Madhya Pradesh Cabinet, led by Chief Minister Mohan Yadav, approved a ₹250 hike in the Ladli Behna Yojana monthly allowance. From November 2025, eligible women will receive ₹1,500 per month, benefiting over 1.26 crore women across the State. This increase aligns with …
Read MoreThis image highlights the major milestones in the growth and regulation of Non-Banking Financial Companies (NBFCs) in India, from their inception to their current role in financial inclusion. It covers reforms, digital transformation, and major sectoral shifts relevant for exams and policy understanding.
Read MorePMJDY Crosses 560 Million Accounts in 11 Years Why in the News ? The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in 2014, has completed 11 years, achieving over 560 million bank accounts with deposits exceeding ₹2.68 lakh crore. It is the world’s largest financial inclusion scheme, empowering rural poor, women, and underserved communities through …
Read MoreNAMIBIA TO ROLL OUT SYSTEM BASED ON INDIA’S UPI Why in the News? Historic step: Namibia became the first country to sign a licensing agreement to adopt India’s UPI system in April 2024, showcasing how government services can be improved through international cooperation. High-level talks: PM Narendra Modi and President Netumbo Nandi-Ndaitwah announced UPI rollout …
Read MoreWhy in the News ? The Pradhan Mantri MUDRA Yojana completes 10 years today. To mark the occasion, Prime Minister Narendra Modi will interact with beneficiaries. The scheme has sanctioned over 52 crore loans worth ₹32 lakh crore to boost small enterprises and financial inclusion. About Milestone Celebration of PM MUDRA Yojana: The Pradhan Mantri …
Read MoreWhy in the News? The Finance Ministry calls upon private sector banks to increase lending through schemes like PM SVANidhi and PM Vishwakarma, targeting job creation for artisans and street vendors. Secretary Vivek Joshi leads a review meeting with bank executives to assess the progress of these inclusive initiatives. Source: Samhita About Financial Inclusion Schemes: …
Read MoreWhy in the news? The Reserve Bank of India joined Project Nexus to enable instant cross-border retail payments by interlinking domestic Fast Payments Systems. The initiative aims to connect the FPSs of India, Malaysia, the Philippines, Singapore, and Thailand, enhancing cross-border payments.p source:scribd About Project Nexus: Purpose: Nexus connects multiple national payment systems into a …
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