CURRENT AFFAIRS

The Insolvency and Bankruptcy Code (IBC), 2016 is a comprehensive bankruptcy law enacted to consolidate and amend existing laws related to insolvency and bankruptcy for companies, individuals, and partnership firms. 

Asset Reconstruction Companies (ARCs) are specialized financial institutions that purchase Non-Performing Assets (NPAs) or bad loans from banks and financial institutions. 

Outstanding Dues: Has an outstanding loan amount of ₹25 lakh or more. Deliberate Default: Intentionally defaults on repayment despite having the capacity to repay.

The Household Savings Rate refers to the proportion of household income that is saved rather than consumed. 

An asset (loan or advance) is classified as a Non-Performing Asset if the borrower has failed to make the repayment (interest or principal) for 90 days or more. 

Urban Cooperative Banks (UCBs) are financial institutions operating in urban and semi-urban areas of India. 

On April 9, 2025, the US has imposed new sanctions on Iran's nuclear program ahead of nuclear talks with Iran. Iran's development of nuclear weapons can pose a serious threat to the Middle East as well as overall global security.

Objective: To establish a uniform framework for the recognition and functioning of Self-Regulatory Organisations (SROs) across all financial sectors regulated by the RBI.

Non-Banking Financial Companies (NBFCs) are financial institutions that perform many banking-like functions, but they are not banks. 

Microfinance refers to the provision of financial services such as microcredit, savings, insurance, and remittances to low-income and underserved populations, especially those excluded from traditional banking services.