FinCEN Subject : Economy Section: External Sector Context: US set to unveil long-awaited crackdown on real estate money laundering What is FinCEN: FinCEN stands for the Financial Crimes Enforcement Network. It is a bureau of the United States Department of the Treasury responsible for combating financial crimes, including money laundering, terrorist financing, and […]

    RBI Policy: Incremental CRR Subject: Economy Section: Monetary Policy In News: RBI announced that all scheduled banks will have to maintain a 10% incremental cash reserve ratio (ICRR) from August 12. Key Points: The ICRR of 10% will be on the increase in the banks’ net demand and time liabilities (NDTL) between May […]

    SAT partly sets aside SEBI order in NSE dark fibre case Subject: Economy Section: Capital Market  In News: Securities Appellate Tribunal (SAT) has partly set aside a SEBI order directing the National Stock Exchange (NSE) to disgorge ₹62.6 crore, along with interest, in the dark-fibre case. Key Points: Securities Appellate Tribunal on Wednesday […]

    RBI arm to develop digital platform to enable frictionless credit delivery Subject: Economy Section: Monetary Policy In News: A digital public tech platform is being developed by its wholly-owned subsidiary, Reserve Bank Innovation Hub (RBIH), to enable the delivery of frictionless credit by facilitating the seamless flow of required digital information to lenders. […]

    EMIs: Reserve Bank plans framework to reset interest on floating rate loans Subject: Economy Section: Monetary Policy In News: Reserve Bank of India has released a key proposal with the goal of improving both the flexibility and transparency of rates of interest on variable-rate loans. Key Points: There have been several instances of […]

    RBI holds repo rate as inflation pressure persists Subject: Economy Section: Monetary Policy In News: Monetary Policy Committee (MPC)’s decides to maintain the repo rate at 6.50 per cent for the third time in a row. Key Points: Factors such as spike in vegetable prices, uncertainties on domestic food price outlook due to […]