Green Deposits
RBI clarified that it is not mandatory for Regulated Entities (REs) to raise green deposits.
- An interest-bearing deposit, received by the RE for a fixed period and the proceeds of which are earmarked for being allocated towards green finance.
- REs under the Framework for acceptance of Green Deposits include –
- Scheduled Commercial Banks including Small Finance Banks (excluding Regional Rural Banks, Local Area Banks, and Payments Banks);
- All Deposit-taking NBFCs registered with the RBI.
- Housing Finance Companies (HFCs).
- At present denominated in Indian Rupees only.
Sukanya Samriddhi Scheme
Government raised interest rates on Sukanya Samriddhi scheme.
- A small deposit scheme for girl child as a part of Beti Bachao Beti Padhao.
- Account can be opened in name of a girl child till her age of 10 years.
- Minimum initial deposit of ₹250, thereafter amount in multiple of ₹50/- can be deposited with annual ceiling of ₹1,50,000 in a financial year.
- Account matures after 21 years from opening date or upon account holder’s marriage, whichever is earlier.
Financial Intelligence Unit India (FIU IND)
Financial Intelligence Unit India (FIU IND) issued compliance Show Cause Notices to 9 Offshore Virtual Digital Assets Service Providers (VDA SPs).
- Show Cause Notices issued under Section 13 of Prevention of Money Laundering Act (PMLA), 2002.
- Ministry – Ministry of Finance.
- It was set up in 2004 as central national agency responsible for receiving, processing, analysing and disseminating information relating to suspect financial transactions.
- An independent body reporting directly to Economic Intelligence Council (EIC) headed by Finance Minister.
One Nation-One Pass
Union Minister launched National Transit Pass System (NTPS) ‘One Nation-One Pass’.
- Ministry – Ministry of Environment, Forest and Climate Change
- Purpose – To facilitate the seamless transit of timber, bamboo, and other Minor Forest Produce(MFP) across the country.
- Currently, transit permits are issued for the transport of timber and forest produce based on state-specific transit rules.