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Why in the News? RBI superseded the board of New India Co-operative Bank due to governance issues and financial irregularities. Revised norms expand small-value loan definition, increase real estate exposure limits, and update provisioning for security receipts (SRs). New regulations aim to enhance operational flexibility while maintaining regulatory oversight. RBI Revises Co-operative Bank Norms: RBI …
Read MoreSyllabus: GS-2: Government Policies & Interventions GS-3: Growth & Development Focus: The Economic Survey 2024-25 forecasts India’s growth between 6.3% and 6.8% for 2025-26, citing strong economic fundamentals but acknowledging uncertainties in urban demand and investment. It emphasizes the need for deregulation, fostering trust, and indigenising key sectors to meet growth aspirations for 2047. India’s …
Read MoreSyllabus: GS-3: Fiscal Policy, Monetary Policy, Capital Market Focus: The Indian rupee has recently experienced sharp devaluation due to rising capital outflows, increasing import costs, and a shift in RBI’s exchange rate policy, raising concerns about inflation, export competitiveness, and economic stability in a global context of financial uncertainties. Understanding Exchange Rate Dynamics: Exchange Rate …
Read MoreWhy in the news? The Supreme Court ruled that only the Reserve Bank of India can regulate credit card interest rates, overturning a 2008 NCDRC order capping rates, and clarified that high rates aren’t “unfair trade practices” under consumer laws. Key Decision Highlights: The Supreme Court ruled that high interest rates on credit card loans …
Read MoreWhy in the news? India’s forex reserves increased by $1.5 billion to $658.1 billion after an eight-week decline, driven by RBI interventions and fluctuating foreign portfolio investments, enhancing economic stability. Forex Reserves Surge After Eight-Week Decline: India’s foreign exchange reserves increased by $1.5 billion, reaching $658.1 billion. The surge follows an eight-week decline in reserves, …
Read MoreWhy in the news? Commerce Minister Piyush Goyal announced India’s forex reserves exceeding $700 billion, highlighting the nation’s economic growth and commitment to sustainable practices during the SHRM India Annual Conference 2024. About India’s Economic Growth and Forex Reserves: Ministerial Announcement: Commerce and Industry Minister Piyush Goyal announced that India’s foreign exchange reserves have exceeded …
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