The Revised Income Tax Bill, 2025 introduces key reforms to simplify tax compliance and enhance transparency. Union Finance Minister Nirmala Sitharaman has withdrawn the old draft and introduced a revised version in Parliament, aiming to modernize India’s tax framework. Why Was the Earlier Bill Withdrawn? Structure and Key Features of the New Bill Major Select … Read more
India’s Unified Payments Interface (UPI) achieves a groundbreaking milestone with 707 million daily transactions, showcasing the country’s digital payments revolution and reinforcing its global leadership in real-time payments. The Rise of UPI Transactions Government’s Ambitious Goal UPI’s Dominance in India and Worldwide Mass Adoption and Everyday Usage Key Takeaways for Competitive Exams:
In a significant development, PNB Housing Finance has made crucial changes to its leadership team following the resignation of MD & CEO Girsh Kousgi. The company has appointed Jatul Anand as Executive Director and Valli Sekar as Chief Business Officer. Leadership Appointments These appointments are aimed at ensuring business continuity and advancing the company’s strategic … Read more
The India Post Payments Bank (IPPB) has introduced Aadhaar-based face authentication nationwide, enabling customers to perform banking transactions using facial recognition without fingerprints or OTPs. This move by IPPB revolutionizes digital banking security and inclusivity. How Face Authentication Works Benefits for Vulnerable Groups Security and Inclusivity at Scale Transforming India’s Digital Banking Ecosystem Key Takeaways … Read more
The Reserve Bank of India (RBI) has relaxed investment rules for banks and non-banking financial companies (NBFCs) in Alternative Investment Funds (AIFs), increasing the overall exposure cap to 20% and exempting equity investments from strict provisioning norms starting January 1, 2026. Overview: RBI has eased investment regulations for banks and NBFCs in Alternative Investment Funds, … Read more
Discover the alarming rise in unclaimed bank deposits in India, reaching a staggering ₹67,003 crore as of June 30, 2025. Learn about the key initiatives like the RBI’s UDGAM portal and the Bima Sakhi Yojana addressing this financial challenge. The Scale of Unclaimed Deposits Top Banks with Highest Unclaimed Deposits RBI’s Measures: UDGAM Portal Government’s … Read more
In May 2025, India witnessed a staggering 98% decline in net Foreign Direct Investment (FDI) inflows, dropping to $35 million, as per the RBI’s report. This sharp decrease was primarily driven by increased repatriation and reduced gross inflows, reflecting the volatile nature of global capital flows. Despite this concerning trend, India’s substantial foreign exchange reserves … Read more
Ajay Seth, the former Finance Secretary, has been appointed as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). His appointment is a significant move to enhance regulatory leadership in India’s insurance sector. Background of the Appointment Profile of Ajay Seth Ajay Seth is a seasoned bureaucrat with a background in … Read more
The RBI has approved Warburg Pincus to invest in IDFC First Bank, a move that bolsters investor confidence and supports the bank’s growth. RBI Approval for Warburg Pincus Investment The Reserve Bank of India (RBI) has granted approval to Warburg Pincus, a prominent global private equity firm, to acquire up to 9.99% stake in IDFC … Read more
The State Bank of India (SBI) has been recognized as the World’s Best Consumer Bank for 2025 by Global Finance magazine for its inclusive, tech-enabled, and customer-friendly banking services. Background SBI, India’s largest public sector bank, has been at the forefront of retail banking transformation through technology adoption, rural outreach, and enhanced customer convenience. The … Read more
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