National Bank for Financing Infrastructure and Development: In News The National Bank for Agriculture and Rural Development and the National Bank for Financing Infrastructure and Development (NaBFID) have signed an MoU for financing infrastructure projects with significant rural impact. It is a specialized Development Finance Institution in India. It is aimed at supporting the country’s […]
Category: Economics Current Affairs
Information Technology Resilience Index
Information Technology Resilience Index: The Securities and Exchange Board of India (SEBI) has introduced an Information Technology Resilience Index (ITRI) for market infrastructure institutions (MIIs). Information Technology Resilience Index is introduced to assess the functioning and resilience of information technology systems of market infrastructure institutions (MIIs), including stock exchanges, depositories and clearing corporations. It is […]
Surge in India’s Merchandise Exports
Surge in India’s Merchandise Exports: Data released by the Ministry of Commerce and Industry revealed that India’s merchandise exports surged by nearly 20% year-on-year in July 2026, reaching USD 44.2 billion. This growth has been achieved despite the ongoing geopolitical turmoil in West Asia, driven largely by strategic market diversification and the rerouting of maritime […]
India Becomes World’s 2nd-Largest Supplier of Seafarers
India Becomes World’s 2nd-Largest Supplier of Seafarers: India has emerged as the world’s second-largest supplier of seafarers to the global shipping industry, according to the BIMCO-ICS Seafarer Workforce Report 2026, marking a major milestone in India’s maritime sector. India contributes 311,936 seafarers, accounting for 12.16% of the global seafaring workforce. The Philippines remains the largest […]
Centre’s FY 2026–27 Fiscal Outlook
Centre’s FY 2026–27 Fiscal Outlook: Former RBI Governor C. Rangarajan and D.K. Srivastava assessed the Centre’s FY 2026–27 fiscal outlook, noting that strong non-tax revenues and capital spending could keep the fiscal deficit near the 4.6% target, despite tax, subsidy and geopolitical pressures. The Centre’s fiscal outlook represents the projected health of Union government finances […]
India’s Trade Agreements in Action
India’s Trade Agreements in Action: The Government has highlighted India’s growing use of Free Trade Agreements, showing early export gains, rising preferential Certificate of Origin issuance and wider product diversification across FTA partner markets.Over the past decade, India has expanded its network of Free Trade Agreements (FTAs) across major global markets, reflecting its growing economic […]
Regional Rural Banks
Regional Rural Banks: The Ministry of Finance recently said that Regional Rural Banks (RRBs) have recorded strong growth in credit delivery during the financial year 2025-26. RRBs are financial institutions established to provide financial services to rural areas. They are formed in collaboration by the Central Government, State Governments, and Sponsoring Commercial Banks to give […]
The Foreign Currency Non-Resident (Bank) — FCNR(B) Deposits
The Foreign Currency Non-Resident (Bank) — FCNR(B) Deposits: The Reserve Bank of India (RBI) advanced the deadline for fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits to qualify for its special USD–INR forex swap window to August 31, 2026.An FCNR(B) deposit is a term/fixed deposit account maintained in approved foreign currencies by Non-Resident Indians (NRIs) and […]
Government Approves Polymer Banknotes for Field Trials
Government Approves Polymer Banknotes for Field Trials: The Government has approved the Reserve Bank of India (RBI) proposal under Section 25 of the Reserve Bank of India Act, 1934 to introduce one billion pieces each of Rs 10 and Rs 20 polymer banknotes for field trials. Polymer notes will be issued alongside existing paper-substrate banknotes […]
What Is Cess?
What Is Cess? The Himachal Pradesh government imposed a widow and orphan cess of 60 paise per litre on petrol and high-speed diesel. A cess is a specialized, targeted tax levied by the government over and above basic taxes to generate revenue for a specific, pre-determined purpose (e.g., education, road development, worker welfare). Once the […]
