CURRENT AFFAIRS

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.

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).