India Achieves Fiscal Deficit Target of 4.8% for FY25: The Government of India has successfully met its fiscal deficit target of 4.8% of Gross Domestic Product (GDP) for the financial year 2024–25, as revealed in the provisional data released by the Controller General of Accounts (CGA).The CGA, under the Department of Expenditure, Ministry of Finance, […]
Day: June 5, 2025
India has extended financial support to the Maldives by rolling over (renewing) a USD 50 million Treasury Bill
India has extended financial support to the Maldives by rolling over (renewing) a USD 50 million Treasury Bill: India has extended financial support to the Maldives by rolling over (renewing) a USD 50 million Treasury Bill, under a special government-to-government (G2G) framework that began in 2019. India recognized Maldives in 1965 and established its mission […]
RBI Update: Only 1.74% of ₹2,000 Notes Remain in Circulation
RBI Update: Only 1.74% of ₹2,000 Notes Remain in Circulation The Reserve Bank of India (RBI) has revealed that 98.26% of the ₹2,000 denomination banknotes in circulation have been returned as of May 31, 2025. The note, once introduced post-demonetisation in 2016, is now being gradually withdrawn under the RBI’s Clean Note Policy, though it […]
Deutsche Bank Appoints Stefan Schaffer as CEO of India GCC
Deutsche Bank Appoints Stefan Schaffer as CEO of India GCC: Deutsche Bank has appointed Stefan Schaffer as the new CEO of its India Global Capability Centre (GCC). Schaffer will also take on dual roles as the Global CIO for Corporate Functions and Head of Global Technology Centres, signifying the bank’s strong commitment to its India […]
Tamil Director Vikram Sugumaran Passes Away at 47
Tamil Director Vikram Sugumaran Passes Away at 47: Tamil filmmaker Vikram Sugumaran, best known for his directorial debut Madha Yaanai Koottam, passed away at the age of 47 following a cardiac arrest. The tragic incident occurred during his journey from Madurai to Chennai, where he had recently pitched a script to a producer. Despite being […]
Canara Bank Removes Minimum Balance Rule for All SB Accounts
Canara Bank Removes Minimum Balance Rule for All SB Accounts: Canara Bank has waived the minimum balance requirement across all its savings bank (SB) accounts, including regular savings, salary, and NRI accounts. This decision eliminates Average Monthly Balance (AMB)-related penalties, making Canara Bank the first major public sector bank in India to implement such a […]
RBI Grants In-Principle Approval to PayPal and Worldline for Cross-Border Payment Aggregation
RBI Grants In-Principle Approval to PayPal and Worldline for Cross-Border Payment Aggregation: The Reserve Bank of India (RBI) has granted in-principle approval to PayPal Payments and Worldline ePayments India to operate as cross-border payment aggregators (PAs) under the Payment and Settlement Systems Act, 2007. This move is set to boost India’s position in global trade […]
Germany Becomes the World’s Top Creditor, Overtaking Japan After 34 Years
Germany Becomes the World’s Top Creditor, Overtaking Japan After 34 Years: Germany has overtaken Japan as the world’s top creditor country in 2024, ending Japan’s 34-year reign. This change, driven by current account surpluses, exchange rate dynamics, and structural economic trends, reflects broader transformations in global trade and investment patterns.Germany became the world’s largest net […]
Elon Musk Launches XChat
Elon Musk Launches XChat: Elon Musk’s X (formerly Twitter) has launched XChat, a new messaging service. Designed with an emphasis on security and cross-platform functionality, XChat aims to become a key component of Musk’s vision for an all-in-one super app, combining messaging, file sharing, and video/audio calling.Elon Musk announced the beta rollout of XChat on […]
Annalena Baerbock Elected President of 80th UN General Assembly Session
Annalena Baerbock Elected President of 80th UN General Assembly Session: Former German Foreign Minister Annalena Baerbock was elected as the President of the 80th United Nations General Assembly (UNGA). Her election marks a significant moment in UN history as she becomes the first woman from the Western European group to assume the post and the […]
