Context: During the Shanghai Cooperation Organisation (SCO) Defence Ministers’ meeting held in China, India refused to endorse the joint statement, citing the absence of strong language against terrorism, particularly in the wake of the Pahalgam attack on April 22. Shanghai Cooperation Organisation (SCO) The Shanghai Cooperation Organisation (SCO) is a multilateral political, economic, security, and defence organization comprising 10 member states across Eurasia. It represents the world’s largest regional organization by area and population, covering approximately 24% of the world’s landmass and 42% of its population. Member States Origins and Development Structure and Governance Key Principles TH
Bank of Baroda Launches “bob Flexi SDP” with Variable Contributions
Context: Bank of Baroda (a leading PSU) has introduced a new savings product called the bob Flexi Systematic Deposit Plan (SDP). This enhanced version of their Systematic Deposit Plan allows flexible monthly deposits and lock-in interest rates for the full tenure of the plan. Key Features
SBI Partners with FPSB India to Integrate CFP Certification into Employee Training
Context: The State Bank of India (SBI) has entered into a strategic partnership with the Financial Planning Standards Board (FPSB) India to incorporate the Certified Financial Planner (CFP) certification into its internal employee training program. Key Highlights About FPSB India About SBI
Equitas SFB and Edelweiss Life Insurance Forge Strategic Bancassurance Partnership
Context: Equitas Small Finance Bank (SFB) and Edelweiss Life Insurance have entered into a strategic bancassurance partnership to offer life insurance products to Equitas Bank customers. The move aims to deepen insurance penetration and provide holistic financial solutions, especially in underserved regions. Key Highlights
IRDAI Flags Concerns During Inspections of Eight Health Insurers
Context: The Insurance Regulatory and Development Authority of India (IRDAI) has conducted routine inspections of several health and general insurance companies to review their adherence to regulatory norms, especially provisions under the new Health Insurance Master Circular issued earlier. Concerns Highlighted Regulatory Background Implications BS
MSME Credit Crosses â‚ą40 Trillion Mark in FY25
Context: Credit to India’s Micro, Small, and Medium Enterprises (MSME) sector crossed ₹40 trillion as of March 2025, recording a robust 20% year-on-year (YoY) growth, according to a report by CRIF High Mark, a leading credit information bureau. Key Drivers of Growth Credit Distribution Implications BS
Poverty Line
Context: The World Bank’s updated poverty estimates for India have sparked renewed debate over how poverty is measured and understood in the country. Using a revised methodology and a new $3-a-day poverty line based on 2021 purchasing power parity (PPP), the Bank estimates that just 5.75% of Indians lived in abject (extreme) poverty in 2022–23, a sharp decline from 27% in 2011–12. This translates to: India’s Outdated Domestic Poverty Line India last revised its official poverty line in 2011–12, based on the Tendulkar Committee’s recommendations. Since then: Understanding Poverty Beyond Numbers Two lenses to interpret World Bank’s data: Free food to one-third of India’s population under the National Food Security Act raises questions about the actual material well-being of people not classified as “poor.” Key Takeaways The Indian Express
India Launches First Maritime Sector NBFC – Sagarmala Finance Corporation Ltd (SMFCL)
Context: The Union Minister of Shipping inaugurated India’s first dedicated maritime sector NBFC, Sagarmala Finance Corporation Limited (SMFCL), aimed at bridging financing gaps in maritime infrastructure and boosting sectoral growth in line with the Maritime Amrit Kaal Vision 2047. Key Highlights Core Objectives Key Functions of SMFCL TOI
India to Launch Nationwide Household Income Survey
Context: The Ministry of Statistics and Programme Implementation (MoSPI) has announced plans to conduct a comprehensive nationwide household income survey beginning next year. This will mark the first systematic attempt in decades to directly measure household income distribution across India. Purpose and Significance Why It Matters Historical Attempts and Challenges Concerns The Indian Express
Keeladi Excavation
Context: The Keeladi archaeological site in Tamil Nadu has become a focal point of both archaeological significance and political contention. The excavations, first launched by archaeologist K. Amarnath Ramakrishna in 2014, unearthed evidence of a sophisticated urban civilisation along the Vaigai River, possibly dating back to the Sangam period (2nd century BCE). Keeladi Excavation Keeladi, a village in Sivaganga district, Tamil Nadu, is located on the banks of the Vaigai River, about 12 km southeast of Madurai. Excavation Highlights Civilisational Significance About the Sangam Age
