CURRENT AFFAIRS

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.

Ways and Means Advances (WMA) refer to the temporary advances provided by the Reserve Bank of India (RBI) to States/Union Territories (UTs) and the Union Government to address temporary mismatches in their cash inflows and outflows. 

The Financial Inclusion Index (FII) is an important metric designed to assess the extent of financial inclusion across the country. 

The Reserve Bank – Integrated Ombudsman Scheme was launched in 2021 as a part of the Alternate Grievance Redress (AGR) Framework of the Reserve Bank of India (RBI).

The Credit-Deposit (CD) Ratio is a significant financial metric that indicates the percentage of total loans a bank has issued relative to its total deposits. 

The Monetary Policy Committee (MPC) of the Reserve Bank of India has cut the repo rate by 25 basis points for the second consecutive time to 6%.

The Archaeological Survey of India (ASI) is investigating the fire in Devagiri Fort. The Archaeological Survey of India is responsible for the conservation of this fort and regulates its activities under the Ancient Monuments and Archaeological Sites and Remains Act, 1958.