CURRENT AFFAIRS

India’s digital payments system has shown phenomenal growth in recent years, reflecting the country’s rapid progress towards a digital economy. According to the recent data released by the Reserve Bank of India (RBI), the RBI Digital Payments Index (RBI-DPI) reached 493.22 in March 2025, up significantly from 465.33 in September 2024.

Global Capability Centers (GCC) have become an important strategic hub for global companies in India. Union Finance Minister Nirmala Sitharaman recently announced that the GCC sector in India currently employs 21.6 lakh professionals and this number is expected to reach 28 lakh by the year 2030.

State Bank of India (SBI) is preparing a Qualified Institutional Placement (QIP) financing strategy to raise up to Rs 25,000 crore by 2025.

Despite consistent growth in India's Gross Domestic Product (GDP), rising public capital expenditure, and an improvement in consumption, the pace of private corporate investment remains sluggish, raising concerns about the long-term sustainability of economic growth.

The Fourth Industrial Revolution (Industry 4.0) includes cyber-physical systems such as the Internet of Things (IoT) and Artificial Intelligence (AI), which enable the creation of "smart factories" where machines self-adapt, take autonomous decisions, and collaborate with humans.

Given the increasing impact of climate change and natural disasters, it has become necessary for the Indian financial system to adopt the concept of Disaster Risk Insurance. Most of the population of India is facing unexpected damage and loss. Catastrophe Bonds or Cat Bonds can be an effective solution to deal with this situation.

The Indian government is deciding to boost exports through Quality Control Orders (QCOs) instead of providing subsidies to the export sector.

What is it: The Securities and Exchange Board of India (SEBI) has decided to make a valid UPI address mandatory for registered intermediaries.

Reserve Bank of India (RBI) Governor Sanjay Malhotra has announced a cut in the repo rate by 50 basis points.

On May 28, 2025, the Union Cabinet approved the continuation of the Interest Subvention component of the Modified Interest Subvention Scheme for the financial year 2025-26.