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RBI’s Monetary Policy Committee (MPC) meeting was scheduled from 5 – 7 June, 2024. The key lending rate at which the RBI lends to commercial banks currently stands at 6.5%. The rate hike cycle was initiated by RBI two years back in 2022 and since then, the repo rate has been increased by 250 basis […]
Union Health Ministry, under the chairmanship of the Directorate General of Health Services (DGHS) Dr. Atul Goel, conducted a virtual meeting with States/UTs to evaluate the preparedness of heatwave conditions and fire & electrical safety measures adopted by various health care facilities across India. As per IMD-issued long-range outlook forecast on 27th May, 2024, it […]
Zurich Insurance Company has received the approval of the Reserve Bank of India (RBI) for the acquisition of 70 percent stake in Kotak Mahindra General Insurance Company for Rs. 5,560 crore. Kotak General is Kotak Mahindra Bank’s 100 percent subsidiary. The RBI’s approval was received on 4th June, 2024. The private bank stated that all […]
Quacquarelli Symonds, on 4th June, 2024, released its QS World University Rankings 2025 wherein IIT Bombay and IIT Delhi made it to the top 150 universities across the world. While IIT Bombay secured the 118th spot, IIT Delhi got the 150th rank in the list. The third place among the Indian universities was taken by […]
In a recent incident, SEBI (Securities & Exchange Board of India) came to know the some people have been providing investment advisory or portfolio management services without registering their firms in SEBI. According to the SEBI, no person or business is allowed to offer investment advisory or portfolio management services to others without seeking the […]
After raising the Dearness Allowance (DA) by 4 per cent in March, 2024, the Government of India (GOI) has now taken the decision to increase the gratuity limit. The maximum limit of retirement gratuity and death gratuity has been raised by the GOI from Rs. 20 lakh to Rs. 25 lakh, with effect from 1st […]
In a press release on 31st May, 2024, the Bank of India (BOI) said that it had launched a 666 Days Fixed Deposit (FD) offering returns of up to 7.95 percent per annum for senior citizens on deposit amounts not exceeding Rs. 2 crore. The investment opportunity is open to the public and all Bank […]
India’s Space Startup Agnikul Cosmos launched its Agnibaan rocket for the first time on 30th May, 2024, powered by the only Indian rocket engine to use both gas and liquid fuel in the country’s second flight of a privately-made rocket. In the last two months, the Agnibaan’s first flight had been called off four times […]
On 30th May, 2024, the Reserve Bank of India (RBI) allowed the opening of rupee accounts outside India as part of its strategic plan to internationalize the domestic currency. The Central Bank stated in its annual report that the rationalization of various guidelines would be the main priority, with an emphasis on continual synchronization of […]
Whether you are a salaried person, a businessman, a housewife, a pensioner, or anyone else, having a savings bank account is one of the basic necessities of life in terms of finance. A savings bank account is not just meant to help in investing. This type of bank account can be opened by both individuals […]