Current Account Deficit Widens to $9.7 Billion in April-June Quarter: In the April-June 2024 quarter, India’s current account deficit (CAD) increased to $9.7 billion, or 1.1% of GDP, up from $8.9 billion (1% of GDP) in Q1 FY2024, according to the Reserve Bank of India (RBI).
Category: Economics Current Affairs
New asset class and a liberalized Mutual Funds Lite
New asset class and a liberalized Mutual Funds Lite: The Securities and Exchange Board of India (SEBI) has announced the introduction of a new asset class and a liberalized Mutual Funds Lite (MF Lite) framework, aimed at enhancing the investment landscape in India.
BSE and NSE have announced revisions to their transaction fees
BSE and NSE have announced revisions to their transaction fees: BSE and NSE have announced revisions to their transaction fees, effective from October 1, 2024. The changes, which impact various segments, align with SEBI’s July directive mandating a uniform fee structure across market infrastructure institutions (MIIs). This move eliminates the previous slab-based structure and ensures […]
GST Council Establishes GoM on Compensation Cess
GST Council Establishes GoM on Compensation Cess: The Goods and Services Tax (GST) Council has formed a 10-member Group of Ministers (GoM), chaired by Minister of State for Finance Pankaj Chaudhary, to address the future taxation of luxury, sin, and demerit goods as the compensation cess is set to expire in March 2026.
T+0 Settlement
T+0 Settlement: Stock exchanges have decided to delay the implementation of T+0 (same-day) settlement cycle for institutional clients, which was set to start on September 30, 2024, on a voluntary basis. T+0 was introduced for retail clients in 25 securities as a beta version in March 2024. T+0 Settlement refers to same-day settlement of trades […]
SEBI Launches FPI Outreach Cell
SEBI Launches FPI Outreach Cell: The Securities and Exchange Board of India (SEBI) has launched a dedicated Foreign Portfolio Investor Outreach Cell as part of the Alternative Investment Fund and Foreign Portfolio Investors Department (AFD). This cell will focus on direct engagement with Foreign Portfolio Investors (FPIs), and supporting them in accessing the Indian securities […]
Nirmala Sitharaman Attends 9th AIIB Board of Governors Meeting in Samarkand
Nirmala Sitharaman Attends 9th AIIB Board of Governors Meeting in Samarkand: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman represented India at the 9th Asian Infrastructure Investment Bank (AIIB) Board of Governors meeting held in Samarkand, Uzbekistan, on September 25-26, 2024.
India’s Largest Blast Furnace in Kalinganagar
India’s Largest Blast Furnace in Kalinganagar: Tata Steel has successfully commissioned India’s largest blast furnace at its Kalinganagar facility in Odisha, marking a significant milestone for the steel sector. With a total investment of Rs 27,000 crore, this Phase II expansion will increase the plant’s capacity from 3 million tonnes per annum (MTPA) to 8 […]
Managing Director and CEO of Federal Bank
Managing Director and CEO of Federal Bank: KVS Manian has officially taken charge as the Managing Director and CEO of Federal Bank, effective September 23, 2024. He succeeds Shyam Srinivasan, who retired after successfully leading the bank since 2010.
Credit Default Swaps
Credit Default Swaps: Securities and Exchange Board of India (SEBI) announced that mutual funds can now sell credit default swaps (CDS) citing the need to aid liquidity growth in corporate bond market, according to its latest circular. The move follows RBI’s directive in 2022 to provide revised regulatory framework for debt derivatives. So far, only […]
