Eurozone Inflation: Eurozone inflation climbs to 3.2 per cent in May, with energy and services prices driving renewed price pressures across the currency bloc. The eurozone, officially known as the euro area, is a geographic and economic region that consists of countries in the European Union (EU) that have adopted the euro (€) as their […]
Category: Economics Current Affairs
Mule Account
Mule Account: In one of Gujarat Police’s biggest cybercrime crackdowns, investigators recently uncovered a staggering Rs 2,289 crore cyber fraud network by targeting mule accounts, the financial lifeline of online scammers. A mule account is a bank account used to facilitate financial crimes, including money laundering, fraud and illicit fund transfers. The person who owns […]
RBI Forms Q-SAFE Committee
RBI Forms Q-SAFE Committee: The Reserve Bank of India (RBI) constituted an eight-member Expert Committee for a Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE) to explore the benefits, risks and challenges of quantum technology in the financial sector. Rationale: Quantum Technology uses principles of quantum mechanics such as superposition and entanglement, enabling solutions for complex […]
Asian Infrastructure Investment Bank
Asian Infrastructure Investment Bank: The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion fund facility to support member countries affected by ongoing Middle East conflict. Asian Infrastructure Investment Bank is a multilateral development bank established in It focuses on promoting sustainable economic growth, enhancing regional connectivity, and mobilizing both public and private capital […]
India Export Target
India Export Target: Union Commerce and Industry Minister announced India’s target of achieving $1 trillion exports in 2026 and $2 trillion exports within the next five years. The India Export Target is a national export expansion strategy aimed at transforming India into a globally competitive manufacturing and services hub through export-led growth, domestic industrial strengthening, […]
ICRA Cuts India’s FY27 GDP Growth Forecast to 6.2% Amid Rising Crude Oil Prices
ICRA Cuts India’s FY27 GDP Growth Forecast to 6.2% Amid Rising Crude Oil Prices: ICRA has lowered India’s FY27 GDP growth forecast to 6.2% from 6.5%, citing higher crude oil prices due to the West Asia crisis. The revision raises concerns over inflation, exports, industrial growth, and the broader economic outlook.Domestic rating agency ICRA has […]
Common Criteria Development Board
Common Criteria Development Board: India has been nominated as the Chair of the Common Criteria Development Board (CCDB) from April 2026 to April 2028. It serves as the technical core of the Common Criteria Recognition Arrangement (CCRA). It focuses on the technical standards and evaluation criteria that secure global IT products. The Common Criteria Recognition […]
Government Revises SOP for FDI Approvals
Government Revises SOP for FDI Approvals: The Ministry of Commerce issued a revised Standard Operating Procedure (SOP) for processing Foreign Direct Investment (FDI) applications to improve transparency and efficiency. The updated SOP fixes a maximum processing timeline of 12 weeks for FDI applications, compared to the earlier 10-week limit under the 2017 SOP. All FDI […]
India’s Forex Stress and the Call for Economic Austerity
India’s Forex Stress and the Call for Economic Austerity: The Prime Minister urged citizens to reduce non-essential gold purchases, overseas travel and fuel consumption amid concerns over India’s foreign exchange reserves, which declined by USD 38 billion in two months to around USD 691 billion as of May 2026.The pressure was driven largely by a […]
European Central Bank (ECB)
European Central Bank (ECB): The Reserve Bank of India (RBI) and the European Central Bank (ECB) signed a Memorandum of Understanding (MoU) to enhance cooperation in central banking. European Central Bank (ECB) is the prime monetary authority of the European Union and the central component of the Eurosystem and the European System of Central Banks […]
