Category: Economics Current Affairs

INDIAsize Initiative: The government will soon roll out the much-awaited ‘INDIAsize’ initiative, the Union Textiles Minister said recently. INDIAsize Initiative is an initiative of the Ministry of Textiles which aims to establish standardized measurements designed to better suit Indian body types. Presently, international and domestic brands available in India use measurements from the US or […]

Indian-Americans featured in TIME 100 Most Influential People in AI 2024: TIME Magazine’s ‘TIME100 Most Influential People in AI 2024’ list celebrates 15 Indian or Indian-origin individuals, showcasing their contributions to the AI landscape.

SBI Foundation Launches 3rd Edition of Asha Scholarship Program: The State Bank of India (SBI) Foundation has unveiled the third edition of its flagship initiative, the SBI Asha Scholarship Programme. This ambitious program aims to support 10,000 talented students from underprivileged backgrounds across India, offering substantial financial assistance to help them pursue their educational dreams.

Centralized Pension Payment System: The Union Minister of Labour and Employment and Chairperson, Central Board of Trustees, EPF has approved the proposal for a Centralized Pension Payment System (CPPS) for the Employees’ Pension Scheme, 1995. Centralized Pension Payment System provides a national-level centralized system allowing pension payouts through any bank or branch in India. This […]

Vertical Fiscal Imbalance: There is the problem of Vertical Fiscal Imbalance (VFI) in Indian fiscal federalism, where expenditure decentralization overwhelms the revenue-raising powers of the States. Vertical Fiscal Imbalance (VFI) is defined as the share of sub-national governments’ own spending not financed through their own revenues. A VFI describes a situation in which revenues do […]

Tamil Nadu’s Rising Fintech Paysharp Secures RBI Authorization: In a significant development for India’s fintech landscape, Paysharp, an emerging startup from Tamil Nadu, has achieved a major milestone. On August 30, 2024, the Reserve Bank of India (RBI) granted Paysharp its final authorization, cementing the company’s position in India’s dynamic payment system ecosystem.

AgriSURE Fund: The Union Minister for Agriculture and Farmers’ Welfare and Rural Development launched the AgriSURE Scheme in New Delhi. AgriSURE Fund for Start-ups & Rural Enterprises (AgriSURE) is an innovative fund which is a pioneering step toward revolutionizing the agricultural landscape in India. It mainly focuses on technology-driven, high-risk, high-impact ventures. It is designed […]

Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore: The Union Ministry of Finance plans to divest a 6.78% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale (OFS) to raise approximately Rs 4,700 crore. This will be the first stake sale since GIC Re’s listing in 2017.

‘Navratna’ Status To The State-Owned Companies: SJVN, NHPC, and RailTel Corporation of India saw their shares rise by up to 5.2% following the Indian government’s decision to grant them ‘Navratna’ status. This designation, which enhances their financial and operational autonomy, was also awarded to Solar Energy Corporation of India (SECI), bringing the total number of […]