The Reserve Bank of India (RBI) has proposed new guidelines to eliminate prepayment penalties and foreclosure charges on floating-rate loans. The draft guidelines, released on Friday, invite public feedback until March 21, 2025. Once finalised, the new rules will apply to loans closed after the specified date in the final circular. Who Will Be Affected? …
India’s economy is expected to remain the fastest-growing major economy in 2025-26, with GDP growth projections of 6.5% (IMF) and 6.7% (World Bank), according to the latest RBI bulletin. Despite global uncertainties, indicators suggest that economic activity picked up in the second half of 2024-25, and this momentum is likely to continue, as per the …
On February 20, 2025, the government relaunched the Prime Minister Internship Scheme (PMIS) with the introduction of Round 2 in its pilot phase. After receiving over 6,00,000 applications in Round 1, Round 2 offers more than 100,000 internship opportunities in leading companies across over 730 districts in India. What is Prime Minister Internship Scheme? The …
The Reserve Bank of India (RBI) staff has released a report stating that the Union Budget 2025-26 (FY26) effectively balances fiscal consolidation and economic growth. The Budget sets a fiscal deficit target of 4.4% of GDP, lower than the revised estimate of 4.8% for FY25. This aligns with the government’s goal of keeping the deficit …
Rajasthan Deputy Chief Minister and Finance Minister Diya Kumari presented the state budget for 2025-26, introducing major initiatives to boost employment, infrastructure, and electricity access. The government aims to improve connectivity, support farmers, and enhance basic amenities across the state. Power Sector: Free Electricity and New Connections The government will provide 5 lakh new domestic …
The Central government has confirmed the formation of the 8th Pay Commission, bringing hopes of a salary increase for its employees. Union Minister Ashwini Vaishnaw announced that Prime Minister Narendra Modi has approved the commission’s establishment. While the exact financial impact is yet to be disclosed, the commission is expected to be set up by …
The Ministry of Statistics and Programme Implementation (MoSPI) is poised to improve the frequency and timeliness of key economic data, introducing a private sector capital expenditure (capex) survey, monthly labour force reports, and a revised schedule for factory output data starting in FY26. Change in Timeline of Key Economic Data From April 2025, the Index …
With the 8th Pay Commission appointment on the horizon, curiosity is growing over who will be chosen as its chairman and members. The Pay Commission, a government-appointed body, is responsible for reviewing and revising the salary structures of central government employees, defence personnel, public sector workers, and pensioners. These revisions take into account inflation, economic …
The EPFO Board is set to meet on February 28 likely to discuss and finalise the interest rate for provident fund deposits for the 2024-25 financial year. The rate is likely to remain close to 8.25%, despite increased claims and returns, as per news reports. EPFO Set to Decide 2024-25 Interest Rate The Employees’ Provident …
In a significant move to strengthen India’s mineral supply chain, the country has entered into a formal partnership with Argentina to boost cooperation in lithium exploration and development. Given Argentina’s vast lithium reserves, this collaboration is crucial for India’s push towards clean energy and electric mobility. The agreement underscores India’s commitment to securing critical raw …
