Budget 2024: Key Highlights

Indian Financial System

In the interim budget 2024, the Finance Minister Mrs.Nirmala Sitharaman today announced the estimates of the government’s expenditure, revenue, fiscal deficit, financial performance, and projections for the upcoming months. Both interim budget and vote on account are interchangeably used. An interim budget contains both the revenue and expenditure details for the period until the new…

Paytm Payments Bank asked to stop onboarding of new customers with immediate effect

Reserve Bank Functions and news

On Wednesday, the Reserve Bank of India directed Paytm Payments Bank to stop onboarding of new customers with immediate effect.The above supervisory action was warranted by the banking regulator given the Comprehensive System Audit report and subsequent compliance validation report of the external auditors that revealed persistent non-compliance and continued material supervisory concerns in the…