The steel ministry has urged the Ministry of Finance to double the basic Customs duty on imported finished steel products to 15 per cent from the current 7.5 per cent in the upcoming Union Budget for 2025–26, people aware of the matter said.
Govt. will boost spending quality, cut fiscal deficit
Context: The government will continue its focus on improving quality spending, strengthening the social security net and bring down the fiscal deficit to 4.5% of the GDP in FY26, a Finance Ministry document said. Comparing GVA and GDP Fiscal Deficit
Banking Sector Show Sustained Profit Growth
Context: The banking sector reported a record quarterly net profit for the September quarter amid improving stability in net interest margins (NIMs) and sustained double-digit growth in pre-provisioning operating profit (PPOP). Net interest margin (NIM) Net interest margin (NIM) is a financial indicator that measures the profitability of a bank or other financial institution. It is calculated by dividing the net interest income (interest income minus interest expense) by the total earning assets. NIM is a main indicator of a financial entity’s health and efficiency. It can help investors determine whether to invest in a financial services firm, and can provide insight into a firm’s cost structure: Pre-Provision Operating Profit (PPOP)
Foreign Currency Spending in India Dips
Context: India’s foreign currency expenditure shrank 14% to USD 2.4 billion in October, marking the lowest influx since June 2024. Key Highlights: Foreign currency expenditure Foreign currency expenditure is an expense incurred in a foreign currency, such as when a business makes regular payments in a foreign currency for imports or exports. UPI: Revolutionizing Digital Paym
Surety Bonds in India
A surety bond is a legally binding contract that provides financial protection and assurance that a party will fulfill their obligations. The Surety bond market is evolving in India, which offers an alternative to traditional bank guarantees and play a important role in managing risks associated with non-performing assets (NPAs) in the banking sector. Surety Bonds in India: Surety Bonds as an Alternative to Bank Guarantees:
Micro Insurance Premium in Life
Context: The number of micro-insurance agents at the end of FY24 stood at 102,000, of whom 19,166 belonged to public-sector life insurers and the rest to private ones. Key Highlights: Micro Life Insurance Premium Rule of Government and Supporting Policies
RBI review of state government finances
Context: The latest report by the Reserve Bank of India on the finances of state governments gives quite a few signals about having gone in an impressive manner at the aggregate level. Context:
EPFO adds 750k new members in October
Context: The Employees’ Provident Fund Organisation (EPFO) reported a net addition of 1.34 million members in October. The surge reflects growing job opportunities and heightened awareness of social security benefits among workers. The Employees’ Provident Fund Organisation (EPFO)
Centre Transferring Management of Environment Relief Fund to CPCB
Context: Starting January 1, 2010, the Central Pollution Control Board (CPCB) will take over the responsibility of administering the Environment Relief Fund Scheme by taking it over from the United India Insurance Company Limited (UIICL). Key Highlights: United India Insurance Company Limited (UIICL) United India Insurance Company Limited (UIICL) is one of the leading public sector general insurance companies in India. Central Pollution Control Board (C
Food Price Inflation in India
Context: A Cabinet Minister suggested in November that the Reserve Bank of India should have a growth-oriented target rather than food price inflation. Retail and Food Inflation
