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Why in the news? Government Review: Sovereign Gold Bond (SGB) Scheme may be discontinued due to high fiscal financing costs. Policy Alignment: Budget 2024-25 reduced gold import duty, achieving the objective of boosting gold demand, initially addressed by SGBs. Market Adjustment: No SGB issuances have been made in the current financial year despite budget allocation …
Read MoreWhy in the news? RBI has rolled out new guidelines requiring FPIs to seek government approval if their stake in Indian companies exceeds 10%, amid increased scrutiny of foreign investments. About the New RBI Rules for FPI and FDI Classification: The Reserve Bank of India (RBI) introduced updated rules to guide foreign portfolio investors (FPIs) …
Read MoreRelevance: GS – 3 – Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Why in the News? The Reserve Bank of India (RBI) has retrieved approximately 130 metric tonnes of gold previously held in safe custody with the Bank of England over the last two-and-a-half years. This strategic shift …
Read MoreWhy in the news? The RBI keeps the interest rate at 6.5% but shifts to a “neutral” stance, indicating potential rate cuts amid balanced inflation and growth parameters. RBI Maintains Interest Rate Current Rate: The Reserve Bank of India (RBI) has kept the benchmark interest rate at 6.5% for the tenth consecutive monetary policy review. …
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