Proposal to verify the rumours in the Stock Market – SEBI Subject :Economy Section: Monetary Policy The Industry Standards Forum (ISF), a body established by the Securities and Exchange Board of India (SEBI) under the aegis of stock exchanges, has proposed a change in the criteria for rumour verification for listed firms. The […]
Domestic Systemically Important Banks (D-SIBs) Subject :Economy Section: Monetary Policy The Reserve Bank of India (RBI) has designated State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) and has placed them in specific buckets based on their Systemic Importance Scores (SISs). ICICI Bank: ICICI Bank continues […]
Government Issues PMLA Notice to Offshore Crypto Firms Subject: Economy Section: Monetary Policy Show Cause Notices: The Financial Intelligence Unit India (FIU-IND) issues show cause notices to nine offshore cryptocurrency and virtual digital assets service providers (VDA SPs). Non-Compliance with PMLA: Reason: VDA SPs found non-compliant with the Prevention of Money Laundering Act […]
Force Majeure Request Due to Flood Impact on Chennai and Thoothukudi Ports Subject :Economy Section: Fiscal Policy Unprecedented Rains and Floods: Chennai and Thoothukudi ports faced heavy losses and disruptions in maritime trade due to unprecedented rains in Tamil Nadu. Force Majeure Appeal: Trade members involved in port operations have urged the Chennai […]
Fiscal slippage due to higher spending in MGNREGA Subject :Economy Section: Fiscal Policy Fiscal Slippage Warning: Despite robust tax collections, India Ratings and Research express concerns about a possible fiscal slippage in FY24. Deficit Projection: Forecasts the fiscal deficit for FY24 to be 6%, exceeding the budgetary target of 5.9%. Factors Contributing to […]
ASEAN-India FTA Review Subject: Economy Section: External sector Negotiations in February: India and the ten-member Association of South East Asian Nations (ASEAN) will commence negotiations in February to modernize their 15-year-old free trade agreement (FTA) officially known as the ASEAN India Trade in Goods Agreement (AITGA). Review Objectives: The primary objective of the […]
Stagflation Risk Assessment by RBI Subject : Economy Section: National Income Stagflation Risk Reduction: Officials at the Reserve Bank of India (RBI) have revised down the risk of stagflation, a combination of economic stagnation and high inflation, from 3% in August to 1% based on recent data. Methodology Used: The assessment involved two […]
The IMF’s sovereign debt risk assessment for India has spurred a sharp reaction Subject :Economy Section : External sector Context: The Finance Ministry, last Friday, issued a statement titled ‘Factual position vis-à-vis IMF’s Article IV consultations with India’. The International Monetary Fund (IMF), under its Articles of Agreement, holds bilateral discussions with members, […]
IMF Warning on India’s Debt Subject : Economy Section : External sector The IMF warns that India’s general government debt may exceed 100% of GDP by 2028 in the medium term. Long-term risks are identified due to the need for significant investment in climate resilience New concessional financing, increased private sector investment, and […]