The International Monetary Fund (IMF) has lauded India’s Unified Payments Interface (UPI) as a game-changer in the nation’s digital payment landscape. With a focus on interoperability and user-centric design, the UPI model has garnered global recognition for its transformative impact on digital transactions. Why in News? On June 25, 2025, the IMF released a paper … Read more
India experienced a significant increase in foreign direct investment (FDI) inflows, hitting $8.8 billion in April 2025, as reported by the Reserve Bank of India (RBI) in its monthly bulletin. This surge marks a notable rise from $5.9 billion in March 2025 and $7.2 billion in April 2024. The spike reflects a growing global trust … Read more
In May 2025, credit card spending in India witnessed a significant growth of 14.5%, totaling ₹1.89 trillion. This surge was fueled by the issuance of 760,000 new credit cards, with major banks like HDFC, ICICI, and SBI Cards leading the trend. Key Highlights Bank-Wise Performance HDFC Bank ICICI Bank SBI Cards Axis Bank Objectives and … Read more
In a move to enhance market liquidity and operational flexibility, the Reserve Bank of India (RBI) has decided to extend trading hours for the call money, market repo, and Tri-Party Repo (TREP) segments. These changes are set to be implemented starting July 1, 2025, and August 1, 2025, respectively. Why is this Important? The RBI’s … Read more
In a significant move to enhance accessibility and improve service delivery, the Employees’ Provident Fund Organisation (EPFO) has raised the auto-settlement limit for advance withdrawal claims from ₹1 lakh to ₹5 lakh. This change allows EPFO members to receive up to ₹5 lakh within three working days, without human intervention, for pre-approved withdrawal purposes. Objective: … Read more
S&P Global Ratings raised India’s GDP growth forecast to 6.5% for the fiscal year, citing economic resilience amid global uncertainties. This article discusses key factors influencing the forecast and implications for India’s economic outlook. Key Assumptions Behind the Forecast India’s Energy Import Dependency India’s heavy reliance on energy imports, especially crude oil, exposes it to … Read more
Indian Railways has introduced a groundbreaking scheme that provides ₹1 crore in compensation to the families of employees in the case of accidental death, without any premium payment. This initiative aims to offer financial security to railway personnel and their loved ones, recognizing the risks associated with their jobs. Why in News? The scheme gained … Read more
In a groundbreaking achievement, a Telugu woman banker has been named the ‘Rising Star in Banking’ for 2024. This prestigious honor, presented by the Banking Association of India (BAI), celebrates her exceptional contributions to the banking sector and her innovative approach to modern banking practices. Key Achievements Why This News Matters Historical Context: Gender Equality … Read more
IDFC FIRST Bank has become a pioneer in India by introducing real-time tracking for international money transfers. This innovative feature, developed in partnership with Swift, is available to customers through the bank’s mobile app and online banking platforms. A New Level of Transparency and Convenience Chinmay Dhoble, Head of Retail Liabilities & Branch Banking at … Read more
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