Context: The asset quality of scheduled commercial banks (SCBs) improved further with the gross non-performing asset (GNPA) ratio declining to a 12-year low of 2.6% in September, the Reserve Bank of India (RBI) said in the December Financial Stability Report (FSR) released on Monday. Key Highlights: Gross Non-Performing Assets (GNPA) Gross Non-Performing Assets (GNPA) is the total value of loans that have been in default for more than 90 days, indicating inefficiencies in loan recovery, impacting profitability and credit growth in a bank’s financial health.
Health Insurance in India
Context: Health insurers disallowed â‚ą15,100 crore worth claims, or 12.9% of the total claims filed during fiscal 2023-24, according to data released by regulator IRDAI. Insurance Regulatory and Development Authority of India Insurance Regulatory Authority Report on Health Insurance in India
RBI asks NPCI for the Beneficiary Account Name Look-up facility
Context: RBI asks NPCI to build an infrastructure for online fund transfer systems. Key Highlights: RTGS or Real-Time Gross Settlement RTGS or Real-Time Gross Settlement is another electronic mode of payment that enables funds transfer from one bank account to another. In contrast to NEFT, RTGS settles transactions on a one-to-one basis immediately after the instruction is received. National Electronic Funds Transfer NEFT or National Electronic Funds Transfer is an electronic payment system regulated by the Reserve Bank of India (RBI) that allows funds to be transferred between bank accounts across the country, following RBI guidelines. National Payments Corporation of Indi
Gross Non-Performing Assets (GNPA)
Gross Non-Performing Assets (GNPA) is the total value of loans that have been in default for more than 90 days, indicating inefficiencies in loan recovery, impacting profitability and credit growth in a bank’s financial health.
National Payments Corporation of India (NPCI)
NPCI is an Indian public sector company operating retail payments and settlement systems in India, under the Payment and Settlement Systems Act, 2007, as an initiative of the Reserve Bank of India and the Indian Banks’ Association.
RTGS and NEFT
RTGS or Real-Time Gross Settlement RTGS or Real-Time Gross Settlement is another electronic mode of payment that enables funds transfer from one bank account to another. In contrast to NEFT, RTGS settles transactions on a one-to-one basis immediately after the instruction is received. National Electronic Funds Transfer NEFT or National Electronic Funds Transfer is an electronic payment system regulated by the Reserve Bank of India (RBI) that allows funds to be transferred between bank accounts across the country, following RBI guidelines.
Tele MANAS
Context: Mental health assistance helpline Tele-Manas, which was launched in 2022 to provide 24Ă—7 services, has received 16.6 lakh calls since its inception. All states and UTs have started the service and have 53 functional cells, according to the health ministry. Tele MANAS (Tele Mental Health Assistance and Networking across States) Tele MANAS (Tele Mental Health Assistance and Networking across States) is a program that offers mental health services in India. The program was announced in the 2022 Union Budget and is implemented by the Ministry of Health and Family Welfare.
Wayanad Landslides
Context: The Centre has reiterated that the Inter-Ministerial Central Team (IMCT) considers the Meppadi landslides in Wayanad, Kerala to be a “disaster of severe nature for all practical purposes”. Landslide A landslide is a mass movement of material, such as rock, earth or debris, down a slope. The Inter-Ministerial Central Team (IMCT) The Inter-Ministerial Central Team (IMCT) is a group of ministers from different departments that is sent to observe the damage caused by disasters like cyclones, floods, and landslides. The IMCT is led by the Executive Director of the National Institute of Disaster Management (NIDM). National Institute of Disaster Management (NIDM).
The Inter-Ministerial Central Team (IMCT)
The Inter-Ministerial Central Team (IMCT) is a group of ministers from different departments that is sent to observe the damage caused by disasters like cyclones, floods, and landslides. The IMCT is led by the Executive Director of the National Institute of Disaster Management (NIDM).
Food Security in India
Context: This latest report called the State of Food Security and Nutrition In the World 2023 states the formal record of the estimated number of 74 million undernourished people in India in the period from 2020 until 2022. Key Highlights:
