Regional Rural Bank (RRB) | Current Affairs | Vision IAS
News Today Logo

Also in News

Posted 26 Mar 2025

7 min read

Regional Rural Bank (RRB)

RRBs achieved a record Rs.7,571 crore profit in FY 2023-24; key financial indicators like CRAR, deposits, NPAs CD Ratio also showed steady improvement.

About RRB

  • Genesis: Formed in 1975 under the RRB Act, 1976.
  • Ownership:  Jointly owned by Government of India(GOI), Sponsor Bank and concerned State Government and with share proportion of 50%,35% & 15% respectively.
  • Regulation:  Regulated by Reserve Bank of India (RBI) and supervised by NABARD.
  • Aim: Development of agriculture, trade, commerce, industry and other productive activities in the rural areas.
  • Priority Sector Lending: Revised to 75% in 2016 of total lending within the sub-targets set by RBI.
  • Tags :
  • Agriculture
  • NABARD
  • Regional Rural Banks
  • Rural Areas

Finance Bill

Recently, Lok Sabha passed the Finance Bill 2025. 

About Finance Bill 

  • The Constitution divides financial legislation into two categories viz., Money Bills (Article 110) and Financial Bills (Article 117).
  • Two Categories: 
    • Article 117(1): which make provision for any of the matters which come within the definition of a Money Bill but do not consist solely of these matters;
      • can be introduced only in Lok Sabha and it requires the recommendation of the President for its introduction.
    • Article 117(3): those which, if enacted, and brought into operation, would involve expenditure from the Consolidated Fund of India. 
      • may be introduced in either House and it does not require the recommendation of the President for its introduction.
      • It cannot, however, be passed by either House unless the President has recommended to that House the consideration thereof. 
  • Rajya Sabha can reject or amend these Bills like ordinary Bills.
  • Tags :
  • Article 110
  • Finance Bill
  • Article 117
  • Consolidated Fund of India

BHIM 3.0

National Payments Corporation of India (NPCI) has recently launched the BHIM (BHarat Interface for Money) 3.0.

Salient Features of BHIM 3.0

  • Expanded language support: Now available in 15+ Indian languages.
  • Allows to track, manage, and split expenses with ease.
  • Optimised for low internet areas: Ensures uninterrupted transactions even in regions with weak or unstable network connectivity.
  • Built-in task assistant: To remind users of pending bills, UPI Lite activation, and low balance alerts.
  • BHIM Vega: A seamless in-app payment solution that integrates directly with online merchant platforms, allowing interoperability with third-party applications.
  • Tags :
  • National Payments Corporation of India
  • BHIM 3.0
  • BHIM Vega

Gold Monetisation Scheme

Medium Term and Long Term Government Deposit (MLTGD) components of Gold Monetisation Scheme (GMS) discontinued with effect from March 26, 2025.

About Gold Monetization Scheme

  • Launched in: 2015.
  • Aim: To reduce gold imports and mobilize household & institutional gold for productive use.
  • Implemented by: All Scheduled Commercial Banks excluding Regional Rural Banks (RRBs).
  • Categories under the  scheme
    • Short-Term Bank Deposit (STBD): 1-3 years (Managed by banks).
    • Medium-Term Government Deposit (MTGD): 5-7 years.
    • Long-Term Government Deposit (LTGD): 12-15 years.
  • Existing deposits under Medium Term and Long Term Government Deposit will continue till maturity as per existing RBI guidelines.
  • Tags :
  • Gold Monetisation Scheme
  • Scheduled Commercial Banks

Vikramshila University

A decade after Nalanda University came up in the foothills of Rajgir, work is on to revive another ancient centre of learning in Bihar i.e. Vikramshila.

About Vikramshila University

  • Founded: By Pala king Dharmapala (8th-9th Century AD), it thrived alongside Nalanda.
    • He also founded Somapur Mahavihara in modern Bangladesh.
  • Known for Vajrayana/Tantrayana Buddhism, occult studies, and theological disciplines.
  • Scholars from Tibet came to study here. Many manuscripts were written in Sanskrit and also translated into Tibetan.
  • Atisha Dipankar (980-1054), a Buddhist in the Pala kingdom was an adhyaksha (head of the university)here. 
  • Destroyed in late 12th century by Bakhtiyar Khalji, a military commander of Qutubuddin Aibak.
  • Tags :
  • Vikramshila University
  • Pala Dynasty
  • Dharmapala

Control of Pollution Scheme

Department-related standing committee on science and technology, environment, forests and climate change raised concerns over inadequate expenditure under the Control of Pollution Scheme in the FY 2024-25.

About the Control of Pollution Scheme

  • Administered by: Union Ministry of Environment, Forest & Climate Change.
  • Type: Central Sector Scheme.
  • Operational: Since 2018.
  • Objective: To monitor air quality across the country and take appropriate air pollution mitigation measures, besides monitoring water quality and noise levels in the country.
  • Components:
    • Assistance for Abatement of Pollution to weaker State Pollution Control Boards/ Pollution Control Committees and CPCB. 
    • National Clean Air Programme (NCAP).
    • Environmental Monitoring Network Programm.
    • Research and Outreach Programmes.
  • Tags :
  • Central Sector Scheme
  • National Clean Air Programme
  • Control of Pollution Scheme

Safe Harbour Rule

Recently, Central Board of Direct Taxes (CBDT) notified amendments to Income-tax Rules to increase the threshold for availing safe harbour from Rs 200 crore to Rs 300 crore.

About Safe Harbour Rule

  • Critical component of India’s transfer pricing framework, Aims to reduce litigation by allowing eligible taxpayers to adopt predefined prices for specified international transactions.
  • Safe harbour rules are defined under Section 92CB of the Income-tax Act, 1961 for the determination of arm’s length price.
  • Safe harbour means circumstances in which the income-tax authorities accept the transfer price as declared by the assessee.
    • Transfer Price is actual price charged in a transaction between related entities which are part of same multi national enterprise group.
    • An arm's length price is price that would be agreed upon in a transaction between two independent, unrelated parties, under open market conditions.
  • Tags :
  • Safe harbour Rule
  • Transfer Price
  • Arm's Length Price
Watch News Today
Subscribe for Premium Features