Current Affairs - Finance

SBI Mutual Fund achieved a historic milestone by becoming the first fund house in India to surpass Rs 10 trillion in assets under management. This accomplishment was driven by strategic product launches, expanding investor base, and leveraging SBI’s network.

In the RBI Monetary Policy of June 2024, the policy repo rate was maintained at 6.5% by the Monetary Policy Committee. This decision was made with a 4:2 majority.

NPCI International and the Reserve Bank of Peru are collaborating to introduce a UPI-like real-time payments system in Peru, marking a significant advancement in South America's financial landscape. This partnership aims to leverage India's UPI technology to foster economic growth and financial inclusion in Peru, making it the first South American country to embrace such technology.

The Securities and Exchange Board of India (SEBI) launched the Saathi 2.0 app, aimed at simplifying financial concepts and providing reliable information to investors. This initiative reflects SEBI's commitment to empowering investors and enhancing their understanding of the securities market.

The penalty of Rs 3.1 lakh imposed by the RBI for violating fair practices code provisions was on Hero FinCorp. Despite its response and participation in the hearing, the RBI found the charges against the company substantiated, resulting in a penalty.