Source: TOI Context: At the Global Fintech Fest 2025, the Reserve Bank of India (RBI) announced the conceptualisation of a Unified Markets Interface (UMI) a new digital infrastructure aimed at tokenising financial assets and enabling settlements via wholesale Central Bank Digital Currency (CBDC). The initiative marks another milestone in Indiaâs ongoing digital finance transformation. Key Highlights: Tokenisation Tokenisation is the process of representing ownership or rights to an asset in the form of a digital token. Each token acts as a digital certificate of ownership that can be traded or transferred securely. Examples
NITI Aayog Report: Roadmap on AI for Inclusive Societal Development
Release Date: 2025Purpose: Outline a strategic plan to leverage Artificial Intelligence (AI) for empowering Indiaâs informal sector workforce through digital inclusion, skilling, and social security integration. Key Highlights: Informal Sector Challenges Role of AI & Digital Infrastructure Need for Urgent Action Key Recommendations
PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan)
Source: TH Context: The Union Ministry of New and Renewable Energy (MNRE) plans to promote Indiaâs flagship solar energy initiative â the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) scheme â to several African and island nations through the International Solar Alliance (ISA) platform. PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) Launch: 2019 (by Ministry of New & Renewable Energy, Government of India)Aim: Promote solar energy adoption in the agriculture sector, ensure energy security for farmers, and provide additional income through renewable energy. Objectives Components
Draft National Labour and Employment Policy, 2025
Source: TH Context: The Union Ministry of Labour and Employment released the draft National Labour and Employment Policy (NLEP) titled Shram Shakti Niti, 2025 for public consultation on October 8, 2025. The policy envisions a fair, inclusive, and future-ready world of work, aligned with Indiaâs aspiration to become a developed nation by 2047. Key Objective To establish a universal and portable social security system by integrating major national and state-level welfare and employment databases. Universal Social Security Framework The policy proposes creating a universal account integrating: This aims to ensure portability of social security benefits across sectors and geographies, covering formal and informal workers. Core Vision and Principles Major Policy Proposals
Fino Payments Bank Settles SEBI Case for âč5.8 Lakh
Context: Fino Payments Bank has settled a securities law violation case with the Securities and Exchange Board of India (SEBI) by paying a settlement amount of âč5.8 lakh. Details of the Case
PayPal Launches âPayPal Worldâ â Global Interoperable Wallet Platform
Context: At the Global Fintech Fest 2025 in Mumbai, PayPal CEO Alex Chriss announced the launch of âPayPal Worldâ, a globally interoperable digital wallet platform that connects domestic digital wallets across countries. The platformâs first payments partner is Indiaâs Unified Payments Interface (UPI). About PayPal World A cross-border payment interoperability platform that lin
PhonePe and Utkarsh Small Finance Bank Launch âWish Credit Cardâ
Context: Digital payments platform PhonePe and Utkarsh Small Finance Bank (SFB) have jointly launched the âWish Credit Cardâ, aimed at providing affordable and accessible credit to a wider section of users, especially those new to formal credit. About the âWish Credit Cardâ Issuer: Utkarsh Small Finance BankPowered by: Visa NetworkDistributed through: PhonePe app Objective:To expand credit inclusion by offering customised, flexible, and digital-first credit card solutions for both urban and semi-urban users. Key Features
RBI Draft Ombudsman Scheme 2025
Source: TOI Context: The Reserve Bank of India (RBI) has released the draft Ombudsman Scheme 2025, aimed at strengthening grievance redressal mechanisms for customers of regulated entities. The draft seeks to provide a cost-effective, non-adversarial, and comprehensive platform for resolving disputes. Key Highlights: Significance
SEBI to Review âFit and Proper Personâ Rule
Context: The Securities and Exchange Board of India (SEBI) informed the Bombay High Court that it will review a controversial provision in its âfit and proper personâ criteria that disqualifies key managerial personnel (KMPs) and directors at market intermediaries merely for having a chargesheet filed against them. This development follows petitions filed in 2023 by leading brokerage firms, including Motilal Oswal Financial Services and Anand Rathi Shares and Stock Brokers, challenging the rule as unconstitutional. About the âFit and Proper Personâ Criteria Background The Controversial Clause SEBIâs Stand
RBI Prioritises Use Cases Over Mass Rollout of Digital Rupee
Source: Mint Context: At the Global Fintech Fest 2025, Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar said that the central bank is prioritising the development of new use cases for the Central Bank Digital Currency (CBDC), or e-rupee, rather than expanding its user base immediately. Key Highlights: New Functionalities Announced
