The Economic Advisory Council to the Prime Minister has advocated an urban job guarantee scheme on the lines of MGNREGA. So far, six states have framed urban employment programmes. However, one big drawback of all the schemes, pointed out by civil society members, is that they do not provide a legal guarantee for employment

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Who is eligible to take GATE Examination?
#GATE2023
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What is Pledging?

Pledging shares means taking loans against the shares that one holds.

When promoter requires funds, they may approach banks & NBFCs to offer them loans against shares as collateral.

Among major economies, India has the second-worst NPA ratio! 😲
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India's foreign exchange reserves drops by $5.22 billion to $545.65 billion for the week ending Sep 16. With this, forex reserves falls by close to $100 billion from its peak. For week ending Sept 16, foreign currency assets falls by 4.70 billion to $484.90 billion.

Yet another cooperative bank bites the dust, RBI cancels permit of Laxmi Co-operative bank 🏦

-As per the data submitted by the bank, about 99 percent of the depositors are entitled to receive the full amount of their deposits from DICGC.

-On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rupees five lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961, the RBI said.

-As of September 13, 2022, DICGC has already paid Rs193.68 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank, the RBI said.