Context: Compared to the credit growth during the same fortnight of 2023, the credit growth for the NBFC sector shrank to 7.8% for the fortnight ending November 29, 2024. Non-Banking Financial Company (NBFC)
Major Developments of RBI in 2024
Context: Lists all major developments of RBI in 2024 such as: Next Generation Data Warehouse, RBI Retail Direct Mobile Application, Fintech Repository, PRAVAAH portal, and Internationalization of UPI. 1. Next Generation Data Warehouse (NGDW): 2. RBI Retail Direct Mobile Application 3. Fintech Repository 4. PRAVAAH Portal 5. Internationalization of UPI (Unified Payments Interface)
Resolution of Public Grievances in Banking
Context: The Finance Ministry on Wednesday urged public sector banks and insurance companies to expedite the resolution of public grievances. Resolution of Public Grievances in Banking The resolution of public grievances in banking is crucial for ensuring consumer satisfaction and maintaining trust in the financial system. India has established several frameworks and regulatory mechanisms to address complaints and disputes related to banking services. Banking Ombudsman Scheme and RBI’s Consumer Protection and Complaints Redressal Mechanism
Bank Loan Growth Dropped for the Fifth Month
Context: For the fifth month, Indian banks reported a drop in their loan growth in November due to continued “crackdown” by the Reserve Bank of India (RBI) on “exuberant” lending activities. Bank Loan Growth Bank loan growth is the change in the total amount of credit that banks provide to the economy over a year. It includes loans for food, non-food, cash, and overdrafts
Organic Standard Review Revised in India
Fasal Bima Scheme and DAP Price
Context: Union cabinet has approved the continuation of Pradhan Mantri Fasal Bima Yojana or PMFBY till 2025-26. This implies that crop insurance coverage is in force. Key Highlights: Revised Restructured Weather-Based Crop Insurance Scheme (RWBCIS) Pradhan Mantri Fasal Bima Yojana Diammonium Phosphat
Groundwater Pollution in India and Nitrate Contamination
Context: In 2023, the number of districts found to be excessively nitrate-contaminated is 440, as against 359 in 2017.
Mineral Exploration Progress Report by GSI
Context: The Geological Survey of India (GSI) conducted 195 mineral exploration programs in 2024, which is a growth of 53% from that in the previous year. Geological Survey of India Geological Survey of India is one of the foremost scientific institutions in India and ranks second across the globe for being the oldest organization in this field. The aim is to take geological surveys and studies apart from providing baseline data regarding earth science.
Will Accept SC Decision: Centre
Context: According to Shivraj Singh Chouhan, Union Minister of Agriculture, it would abide by whatever going happen as a result of the Supreme Court directive regarding the indefinite hunger strike by farmer leader Jagjit Singh Dallewal. Key Highlights: Some Government Loan Waiver Schemes The Minimum Suppor
Pakistan as Non-Permanent Member of UNSC
Context: Pakistan has commenced its two-year term as a non-permanent member of the United Nations Security Council (UNSC) on Wednesday. The United Nations Security Council (UNSC) The UNSC is a core organ of the UN responsible for the maintenance of international peace and security, recommendation of new members to the General Assembly, and approval of amendments to the UN Charter. It has powers such as creating peacekeeping missions, imposing sanctions, and conducting military operations.
