Maharashtra Government Issues New Procedures for Crediting NPS Contributions
Government of Maharashtra issued a circular announcing revised procedures for crediting monthly contributions under the National Pension System (NPS) to the PRAN Accounts of state employees.
RBI releases the Financial Stability Report, December 2024
Reserve Bank released the December 2024 issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system and risks to financial stability.
Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems
Banks which are participants of RTGS and NEFT Systems, shall make this facility available to their customers through Internet banking and Mobile banking. The facility shall also be available to remitters visiting branches for making transactions. Detailed requirements for the same are provided in the Annex.
Unified Payments Interface (UPI) access for Prepaid Payment Instruments (PPIs) through third-party applications
As announced in the Statement on Development and Regulatory Policies dated April 05, 2024, it has been decided to enable UPI payments from / to full-KYC PPIs through third-party UPI applications. This will enable PPI holders to make / receive UPI payments through the mobile application of third-party UPI applications.
RBI committee for Framework for Responsible and Ethical Enablement (FREE) of Artificial Intelligence(AI) in the Financial Sector
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement dated December 06, 2024, the Reserve Bank of India had announced the setting up of a committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the Financial Sector.
Government of West Bengal Revises Minimum Wage Rates for Scheduled Employments (2025)
Government of West Bengal Revised the minimum wage rates for scheduled employments in the state, effective from January 1, 2025 to June 30, 2025.
MOLE Declares Banking Industry as Public Utility Service for Six More Months
MOLE Declares Banking Industry as Public Utility Service until December 15th 2024
ESIC Issues Notification on Bulk Aadhaar Seeding Through Employer Portal
Employees’ State Insurance Corporation (ESIC) has issued a notification regarding the bulk Aadhaar seeding process for ESIC beneficiaries through the Employer Portal.
Uttar Pradesh Government Announces State List of Holidays for 2025
Government of Uttar Pradesh officially notified the Uttar Pradesh State List of Holidays for 2025
Umbrella organization of Urban Cooperative Banks
NUCFDC is envisaged to provide following types of fund-based support and non fund-based services to urban cooperative banks (UCBs) which are its shareholder-members.
