This week, regulators took action against 4 NBFCs, stopping them from issuing new loans as they charged high interest rates on microfinance loans. 

RBI's crackdown on 4 NBFCs, bank boards, HDFC's loan growth & LIC to enter FRA market

RBI’s crackdown on 4 NBFCs, bank boards, HDFC’s loan growth & LIC to enter FRA market

The budgetary allocation for this scheme is Rs 25,938 crore

The NPCI subsidiary, which will follow the model similar to TPAPs, is conducting pilots with eight companies

India emerged as the second most targeted nation in terms of cyber attacks in the world as 95 Indian entities came under data theft attacks in 2024, cyber intelligence firm CloudSEK said in a report.
According to the company's ThreatLandscape Report 2024 based on data monitoring in dark web, the US was the most targeted country, with 140 attacks, due to its economic dominance and digital infrastructure followed by India where data of 95 entities were attacked in 2024.
"India: Rapid digitization exposed 95 entities, making it the second most attacked nation," the report said. Israel was on the third spot where 57 entities faced attacks due to geopolitical tensions.
"The threat actors impacted various sectors in India, with the finance and banking sectors experiencing the highest number of victims at 20. This was followed by the government sector with 13 victims, telecommunications with 12, and the healthcare and pharma and education sectors with 10 and 9 victims, respectively," the .

"India: Rapid digitization exposed 95 entities, making it the second most attacked nation," the report said. Israel was on the third spot where 57 entities faced attacks due to geopolitical tensions

LG Gram laptops launching at CES 2025. Samsung Good Lock coming to Play Store with One UI 7. Realme 14 Pro series camera. POCO X7 series. Vivo T3x 5G price cut

Leaders from across the political spectrum will pay their tributes to former prime minister Manmohan Singh at a prayer meeting on Friday.
The 'Shabadv Kirtan and Antim Ardas' of Dr Singh would be held at the Gurdwara Rakab Ganj Sahib at 3 pm.
Before the prayer meet, the family of the former PM would also hold a 'bhog' of the 'Akhand Path' kept in the memory of Singh at their 3, Motilal Nehru Marg residence.
Singh, who steered the country as prime minister from 2004 to 2014, was considered the architect of India's economic reforms in the 1990s.
He died at AIIMS Delhi December 26. He was 92.

Before the prayer meet, the family of the former PM would also hold a 'bhog' of the 'Akhand Path' kept in the memory of Singh at their 3, Motilal Nehru Marg residence

Union minister Giriraj Singh on Thursday said his goal is to increase the price of finished jute bags from Rs 1,15,000 per tonne to Rs 2 lakh in the near future, driven by value addition through innovations and modernisation efforts.
Speaking to reporters here, the Union minister of textiles said, "This is possible with close coordination between all stakeholders, including the government, mills, and farmers."
He also informed that the Centre had approved a new pricing formula for jute bags meant for government procurement for foodgrains packaging.
Singh said, "the sale of jute products is expected to cross Rs 14,000 crore this year," demonstrating the growth and potential of the industry.
The growth of the golden fibre, he said, "will benefit around 4 lakh jute mill workers and 40 lakh farmer families engaged in its cultivation, primarily in West Bengal."
During his visit to ICAR-CRIJAF, Barrackpore, the minister met industry representatives to review the sector and discussed "va

Singh informed that his ministry has "taken several initiatives to strengthen the sector's contribution to growth and enhance India's position in the global textile industry"

One of the primary requests made by the FIDC was for a reduction in the loan amount threshold for enforcing security interest under the SARFAESI Act, from Rs 20 lakh to just Rs 1 lakh

India's growing external and internal threats demand urgent shifts in fiscal focus to strengthen defence, policing, and cyber capabilities

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

RBI’s crackdown on 4 NBFCs, bank boards, HDFC’s loan growth & LIC to enter FRA market

This week, regulators took action against 4 NBFCs, stopping them from issuing new loans as they charged high interest rates on microfinance loans.

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