RBI Permits Minors Above 10 to Operate Bank Accounts Independently: Reserve Bank of India (RBI) issued revised directions allowing minors aged 10 years and above to independently open and operate savings and term deposit accounts. This move, aimed at promoting early financial literacy, will empower minors to manage money responsibly, within a safe and supervised […]
Category: Economics Current Affairs
India Imposes 12% Tariff on Steel Imports
India Imposes 12% Tariff on Steel Imports: The Government of India has announced the imposition of a 12% provisional safeguard duty on select categories of steel imports. The decision, which came into effect on April 21, 2025, is aimed at countering a surge in low-cost steel imports, especially from China, South Korea, and Japan. The […]
SBI Deploys ‘Grahak Mitras’ to Boost Alternate Banking Channel Adoption
SBI Deploys ‘Grahak Mitras’ to Boost Alternate Banking Channel Adoption: The State Bank of India (SBI), India’s largest public sector bank, has unveiled a new customer engagement initiative by introducing ‘Grahak Mitras’ at select branches. These specially trained personnel, drawn from SBI’s subsidiary, State Bank Operations Support Services (SBOSS), will assist walk-in customers with alternate […]
Launch of ‘Sanskriti Ka Paanchva Adhyay’
Launch of ‘Sanskriti Ka Paanchva Adhyay’: A new book titled ‘Sanskriti Ka Paanchva Adhyay’ was officially launched on April 18, 2025, at the Samvet Auditorium of the Indira Gandhi National Centre for the Arts (IGNCA), Janpath, New Delhi. This book is a curated compilation of speeches and thoughts by Prime Minister Shri Narendra Modi, focused […]
Zepto Renames Parent Entity Ahead of IPO: Aligning Brand and Business Strategy
Zepto Renames Parent Entity Ahead of IPO: Aligning Brand and Business Strategy Zepto, one of India’s fastest-growing quick-commerce startups, has taken a significant step toward its Initial Public Offer (IPO) by officially changing the name of its parent company. The company has rebranded from Kiranakart Technologies Private Limited to Zepto Private Limited, aligning its corporate […]
Global Trade Outlook and Statistics 2025
Global Trade Outlook and Statistics 2025: The World Trade Organization’s (WTO) Global Trade Outlook and Statistics 2025 reveals that global merchandise trade is projected to decline by 0.2% in 2025. The WTO’s revised forecast for global merchandise trade shows a 0.2% decline in 2025. If trade tensions escalate further, especially with new tariff measures, the […]
India’s Economy to Grow by 6.5% in 2025 : UNCTAD Forecast
India’s Economy to Grow by 6.5% in 2025 : UNCTAD Forecast India is set to maintain its position as the fastest-growing major economy in 2025 with an impressive 6.5% GDP growth, according to the latest “Trade and Development Foresights 2025” report released by the United Nations Conference on Trade and Development (UNCTAD). While global economic […]
Government Clarifies No GST on UPI Transactions Above ₹2,000
Government Clarifies No GST on UPI Transactions Above ₹2,000: The Finance Ministry of India has categorically denied any plans to impose Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions over ₹2,000. The Ministry termed such claims as false, baseless, and misleading. Reinforcing the government’s commitment to promoting digital payments, the clarification emphasizes […]
India’s Exports Rise Marginally by 0.7% in March 2025
India’s Exports Rise Marginally by 0.7% in March 2025: India witnessed marginal growth in exports and a notable rise in imports in March 2025. The trade deficit for the month widened to $21.54 billion, reflecting pressure on the current account. For the fiscal year 2024–25, merchandise exports showed almost stagnant growth, while overall trade, including […]
Santosh Kumar Appointed Deputy CFO of IndusInd Bank
Santosh Kumar Appointed Deputy CFO of IndusInd Bank: IndusInd Bank has appointed Santosh Kumar as its Deputy Chief Financial Officer (CFO). This move comes following the end of Deputy CEO Arun Khurana’s tenure as acting CFO. The bank has been facing mounting challenges due to elevated bad loans in the microfinance sector and accounting discrepancies […]
