Overseas remittances by Indian residents under the Liberalised Remittance Scheme (LRS) witnessed a significant decline in February 2025. According to data released by the Reserve Bank of India (RBI), outward remittances dropped by 29% to $1,964.21 million compared to $2,768.89 million recorded in January. A closer examination reveals multiple factors contributing to this sharp fall, …
In an effort to fast-track the Pradhan Mantri Surya Ghar Muft Bijli Yojana (PMSGMBY), the Union Finance Ministry has instructed banks to rely exclusively on the National Portal for all consumer validation, installation verification, and site feasibility assessments. According to a recent report, physical verification, often cited as time-consuming, will be phased out in favour …
The Prime Minister Internship Scheme (PMIS) is a flagship initiative by the Government of India aimed at equipping young individuals with practical work experience, industry exposure, and improved employability. Designed as a year-long program, PMIS offers structured internship opportunities across India’s top 500 companies, helping bridge the gap between academic learning and real-world job …
The New India Co-operative Bank (NICB) has been grappling with severe challenges since the Reserve Bank of India (RBI) imposed restrictions on its operations on 13 February. The situation stems from a ₹122 crore embezzlement case, leading to the arrest of eight individuals so far. This financial scandal has left thousands of depositors anxious about …
Residential transactions across key Indian cities witnessed a notable 77% increase between FY19 and FY25, reaching a total of 5.44 lakh units, according to a report by Square Yards. This data underscores a strong resurgence in homebuying activity, reflecting changing consumer preferences and robust demand for housing post-pandemic. Primary and Secondary Markets: A Closer Look …
In a significant move to safeguard market integrity, the Securities and Exchange Board of India (SEBI) has directed Patel Wealth Advisors Pvt Ltd (PWAPL) and its associates to return over ₹3.22 crore in illegal gains. This follows an extensive investigation into large-scale “spoofing” practices, a manipulative trading tactic previously seen in limited instances in Indian …
The Reserve Bank of India (RBI) has introduced new regulations requiring banks and White Label ATM Operators (WLAOs) to ensure better public access to ₹100 and ₹200 denomination notes. This move seeks to increase the circulation of frequently used banknotes and must be implemented in a phased manner. Banks and WLAOs to Ensure Dispensation of …
The Reserve Bank of India (RBI) has announced open market operation (OMO) purchase auctions of Government of India securities, with a total value of ₹1.25 lakh crore. The auctions will be conducted in four phases between May 6 and May 19, 2025. Auction Details Auction Date Amount (₹ crore) May 6, 2025 50,000 May 9, …
The Delhi government has introduced the Ayushman Vay Vandana scheme, offering health coverage of up to ₹10 lakh for residents aged 70 and above. The scheme was launched on Monday, with Chief Minister Rekha Gupta and Union Minister Hardeep Singh Puri distributing the first set of health cards to beneficiaries at Thyagraj Stadium. Scheme Details …
India spent $86.1 billion on defence in 2024, according to a report by the Stockholm International Peace Research Institute (SIPRI). This represents a 1.6% increase compared to 2023 and a 42% rise since 2015. India ranked 5th among the world’s highest military spenders, following the United States, China, Russia, and Germany. Pakistan’s Defence Expenditure Pakistan …
