Introduction The Government of India has decided to end the Gold Monetisation Scheme (GMS), a program introduced to utilize idle gold reserves in households and institutions. The Reserve Bank of India (RBI) has provided an update regarding the existing deposits under this scheme, ensuring that all commitments made to depositors will be honored. Reasons for…
Introduction Former Cabinet Secretary Rajiv Gauba has been appointed as a full-time member of NITI Aayog, India’s apex policy think tank. Gauba, a 1982-batch Indian Administrative Service (IAS) officer, has held several key positions in the Indian government, contributing significantly to governance and policy-making. His appointment is expected to bring valuable administrative expertise to NITI…
Introduction S&P Global Ratings has revised India’s GDP growth forecast for the fiscal year 2025-26 (FY26) down to 6.5% from its earlier projection. The revision comes amid concerns over global economic conditions, inflationary pressures, and monetary policy adjustments. While India remains one of the fastest-growing major economies, the lowered projection indicates potential headwinds that could…
Introduction The Lok Sabha recently passed the Finance Bill 2025, a crucial legislative measure that determines the government’s taxation policies and financial regulations for the upcoming fiscal year. This bill plays a pivotal role in shaping the country’s economy, affecting taxpayers, businesses, and financial institutions alike. Major Taxation Changes Introduced The Finance Bill 2025 brings…
Introduction Ajay Seth, a 1987-batch Indian Administrative Service (IAS) officer of the Karnataka cadre, has been appointed as India’s new Finance Secretary. He replaces T.V. Somanathan, who recently retired from the position. The appointment comes at a crucial time as the country continues to navigate economic challenges and implement key financial reforms. Ajay Seth’s Professional…
The Reserve Bank of India (RBI) has announced an interest rate of 8.34% for the Government of India (GOI) Floating Rate Bond (FRB) 2033. This announcement is crucial for investors and policymakers, as it reflects current economic conditions and market trends. Floating Rate Bonds (FRBs) are debt instruments with variable interest rates, making them attractive…
India has imposed anti-dumping duties on five Chinese products to curb unfair trade practices and protect domestic industries. The decision was made after thorough investigations by the Directorate General of Trade Remedies (DGTR), which found that these imports were harming Indian manufacturers. The move aligns with India’s broader strategy to safeguard local businesses from unfair…
Introduction The Reserve Bank of India (RBI) has appointed Indranil Bhattacharyya as its new Executive Director (ED). This decision comes as part of the central bank’s effort to strengthen its leadership and enhance financial regulation. With a vast experience in banking and finance, Bhattacharyya’s appointment is expected to play a crucial role in RBI’s future…
Fitch Ratings, a globally recognized credit rating agency, has reaffirmed the ratings of Union Bank of India and Punjab National Bank (PNB) at ‘BBB-’ with a Stable Outlook. This rating reflects the banks’ financial stability, strong government backing, and their role in the Indian banking sector. Significance of Fitch Ratings Fitch Ratings evaluates financial institutions…
The Insurance Regulatory and Development Authority of India (IRDAI) has once again designated Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and The New India Assurance Company as Domestic Systemically Important Insurers (D-SIIs) for the fiscal year 2024-25. This classification underscores the crucial role these companies play in India’s financial…
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