About RRBs Regional Rural Banks are jointly owned by the Government of India, the concerned State Government and Sponsor Banks with the issued capital shared in the proportion of 50%, 15% and 35% respectively. RRBs were set up with the …
About the Scheme Launched effectively from October 1, 2020, the Aatmanirbhar Bharat Rozgar Yojana (ABRY) was designed to stimulate the creation of new job opportunities by extending financial support to employers of establishments registered with the Employees’ Provident Fund Organization …
Context India’s logistics costs add up to around 13 per cent of gross domestic product which is significantly higher than developed countries like China, US and Europe, where the global average is somewhere around 8 percent. It shows that there’s …
About PMJDY In 2014, the government launched Pradhan Mantri Jan Dhan Yojana (PMJDY) to bring about comprehensive financial inclusion in the country. PMJDY envisages universal access to banking facilities with at least one basic banking account for ‘every adult’, financial …
Context India is one of the fastest-growing economies in the world. The country needs to expand its economic and strategic activities globally and GIFT City, an emerging global financial hub and India’s first operational smart city, has a pivotal role …
About GeM Launched in 2016, the Government e-Marketplace (GeM) is a 100 percent government-owned company setup under the aegis of the Ministry of Commerce and Industry. It is a completely paperless, cashless and system driven e-market place that enables procurement …
About IFSC An International Financial Services Centre (IFSC) is a jurisdiction that provides world class financial services to non-residents and residents in a currency other than the domestic currency (Indian Rupee) of the location where the IFSC is located. Services …
What’s in the news? Remittances to the country by non-resident Indians rose 26% on year to about $112.5 billion in FY23, underscoring the surge in demand for Indian professionals globally after the pandemic. Remittances to India were $89.1 billion in …
What’s in the news? Corporate Affairs Ministry (MCA) is in the process of finalising Rules for operationalising the provisions of the Competition (Amendment) Act, 2023 enacted this year post receipt of Presidential assent on April 11. This amendment Act was …