ECONOMY Updates

ECONOMY Updates

A) NIIF - Additional Investment

• Cabinet approved additional Rs 30,000 Cr - total GoI commitment now Rs 60,000 Cr
• To set up Infrastructure Fund II - successor to Fund I.
• Focus Sectors: Transport, Energy, Digital Infra, Urban Infra, e-mobility
• Future plan: Bilateral & successor funds in FY28-FY30
• Prelims: NIIF - quasi-sovereign wealth fund, set up 2015.

B) Corporate Mitra Scheme

• By MCA + IIT Madras [IIT Pravartak, SWAYAM Plus] + ICAI, ICSI, ICMAI
• Aim: Create pool of trained Corporate Mitras to help MSMEs in compliance, taxation, accounting, financial governance.
• Budget Announcement 2026-27
• Training: 150 hrs online on SWAYAM Plus + 6 months practical
• Eligibility: Indian <30 yrs, graduate/final year
• Fee: Rs 3000 + GST, 50% concession for Women, NE, Himalayan, A&N, Lakshadweep
• Mains: MSME formalization, Ease of Doing Business.

C) Kakinada Cooperative Town Bank - Tier-III UCB

• Deposits > Rs 2000 Cr, Zero net NPA, 2nd largest in AP among 46 UCBs
• RBI UCB Classification [Prelims Important]:
  • Tier I: < Rs 100 Cr deposits
  • Tier II: up to Rs 1000 Cr
  • Tier III: Rs 1000 Cr to Rs 10,000 Cr
  • Tier IV: > Rs 10,000 Cr [introduced in 2022 revised norms]

D) PayGlocal + Google Pay Integration

• India's cross-border payment aggregator, RBI authorized, HQ Bengaluru, founded 2021
• Allows Indian merchants to access 1 Billion customers in 90+ countries
• Google Pay = tokenized, biometric auth. Apple Pay already live.
• GS3: Fintech, cross-border e-commerce.