As of March 2024, deposits left unclaimed in banks, insurance plans, mutual funds, pension, and securities collectively amount to around ₹78,213 crore
Ask Anything, Know Better
1 day ago SUMMARY The Reserve Bank of India (RBI) issued new directives on June 12, 2025, to simplify the Know Your Customer (KYC) process, as reported by Business Standard. Key points Mandatory Notifications: Banks must send at least three advance written reminders before the KYC update deadline and three additional reminders, including one physical letter, if the update is not completed post-deadline. These must include clear instructions, support channels, and consequences of non-compliance. Banks are...
2 days ago HOW MUCH IS THE DEBT? India’s household debt has become a growing concern, with recent data showing a significant rise in borrowing. By June 2024, household debt reached 42.9% of GDP, as reported by the Reserve Bank of India (RBI) in its Financial Stability Report (December 2024), a sharp increase from 37.6% in March 2023 and well above the pre-pandemic average of 33% (2015-2019). The government’s push for financial inclusion has increased credit access, but without addressing income inequality or...
5 days ago SUMMARY The article from Business Today, published on June 9, 2025, titled "Rs 500 must go...': Andhra Pradesh Chief Minister N. Chandrababu Naidu links big notes to corruption, backs Rs 100 and Rs 200,". He calls to abolish high-denomination currency notes like the Rs 500 to curb corruption. In an exclusive interview with India Today, Naidu stated, “All big currencies should be abolished. Only then can we eradicate corruption,” advocating for only Rs 100 and Rs 200 notes to remain in...
5 days ago SUMMARY The article from Business Standard, published on June 9, 2025, titled "RBI rate cut: What it means for your money and how you should invest now," discusses the implications of a recent 25-basis-point rate cut by the Reserve Bank of India (RBI), bringing the repo rate to 6.25%. Key points Impact on Borrowing and Savings: Lower rates reduce borrowing costs, benefiting home loan and personal loan borrowers (e.g., EMIs may decrease). However, savings accounts and fixed deposits...
June 06 SUMMARY The article from The Hindu BusinessLine, published on June 6, 2025, titled "Bank deposit rate cut to boost MF inflows," discusses how a recent reduction in bank deposit rates is expected to drive increased investments into mutual funds (MFs), particularly equity schemes, due to investors seeking higher returns amid market volatility. Key points include Repo Rate Cut Impact: The Reserve Bank of India (RBI) reduced the repo rate by 50 basis points to 5.5%, following earlier cuts of 25...
May 30 HOW MUCH IS RBI'S BALANCE SHEET? In its Annual Report for FY2024–25, the Reserve Bank of India (RBI) announced an 8.2% year-on-year expansion of its balance sheet, reaching ₹76.25 lakh crore as of March 31, 2025, up from ₹70.47 lakh crore the previous year. Key Highlights Asset Growth Drivers: The increase on the assets side was led by a rise in gold holdings (up 52.09%), domestic investments (up 14.32%), and foreign investments (up 1.70%). Income and Expenditure:...
May 27 SUMMARY The Sovereign Gold Bond (SGB) 2017–18 Series VI, issued on November 6, 2017, has delivered an impressive return of over 220% upon premature redemption after 7.5 years. The Reserve Bank of India (RBI) has set the redemption price at ₹9,453 per gram for May 6, 2025, reflecting a significant appreciation from the initial issue price. KEY HIGHLIGHTS Issue Details: Launched on November 6, 2017, the SGB 2017–18 Series VI had an initial issue price of ₹2,781 per...
May 26 WHY IN NEWS? Reserve Bank of India (RBI) has transferred a dividend of 2.69 lakh crores to the government for the financial year 2024-25 marking a 50% increase from the ₹2.1 lakh crore distributed in the previous fiscal year. The RBI is a not-for-profit organization then how did it make such huge profits to transfer this huge dividend to the government? SOURCES OF RBI'S INCOME? The Reserve Bank of India's (RBI) surplus primarily originates from its core operations, including interest...
May 07 FEATURES NIIF NaBFID Full Name National Investment and Infrastructure Fund National Bank for Financing Infrastructure and Development Established 2015 2021 Type Government-sponsored equity fund Government-backed development finance institution (DFI) Primary Role Invests in infrastructure via equity and fund management Provides long-term debt financing for infra...
April 29 WHAT IS DIGITAL ECONOMY? The digital economy refers to the economic activities that emerge from connecting individuals, businesses, devices, data and operations through digital technology. It encompasses the online connections and transactions that take place across multiple sectors and technologies, such as the internet, mobile technology, big data and information and communications technology. SIZE AND SHARE OF INDIA’S DIGITAL ECONOMY The Indian economy has been digitalising at a remarkable...
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