Category: Economics Current Affairs

Decline in Jute Production India: Jute production is projected to decline by 20% this year due to floods in West Bengal and Assam. India produces about 70% of the world’s jute goods. West Bengal contributes about 73% of this production. 90% of jute production is consumed locally.

Anusandhan National Research Foundation: The first meeting of the governing board of the Anusandhan National Research Foundation (ANRF) was chaired by the Prime Minister. It focused on initiatives to enhance India’s research capabilities and establish a strong research culture across institutions. Partnerships for Accelerated Innovation and Research (PAIR), the Mission for Advancement in High-impact Areas […]

Invest India: The Union Ministry of Commerce and Industry recently announced the Centre’s Start-up India initiative will be moved out of the aegis of Invest India to a new non-profit company that could also house the National Start-up Advisory Council. Invest India is the National Investment Promotion and Facilitation Agency of India and acts as […]

WPI Inflation Drops to 4-Month Low of 1.31% in August: India’s wholesale price index (WPI)-based inflation fell to a four-month low of 1.31% in August, down from 2.04% in July. This decline is primarily attributed to reduced prices of manufactured products and food items. According to data from the Commerce Ministry, food price inflation decreased […]

Nidhi Companies: The Registrar of Companies (RoC) under the corporate affairs ministry has penalised over two dozen Nidhi companies in about a fortnight for alleged violations of Companies Act provisions. A NIDHI Company is recognised under Section 406 of the Companies Act 2013 and typically operates in the Non-Banking Financing Sector of India. It is […]

Co-location Trading: Five years after the Securities and Exchange Board of India (SEBI) came down heavily on the National Stock Exchange (NSE) for alleged lapses in high-frequency trading offered through its co-location (colo) facility.

Union Minister Kiren Rijiju Launches 6 Initiatives: The Union Minister Kiren Rijiju, Ministry of Parliamentary Affairs (MPA) launched six initiatives as part of the 100-day achievements of the MPA in New Delhi, Delhi. These initiatives aim to improve decision-making, advance real-time governance, and achieve a paperless legislative environment

Max Life Enters Into Bancassurance Partnership with CSB Bank To Offer Insurance Products: Gurugram (Haryana) based Max Life Insurance Company Limited has entered a bancassurance partnership with Thrissur (Kerala) based CSB Bank Limited (formerly The Catholic Syrian Bank Limited)to offer a wide range of life insurance products.

Inquiry Wing of Lokpal: The Lokpal has constituted an inquiry wing to conduct a preliminary probe into graft-related offences committed by public servants. Section 11 of the Lokpal and Lokayuktas Act, 2013, mandates the Lokpal to establish an inquiry wing. This wing is responsible for conducting preliminary inquiries into offences under the Prevention of Corruption […]

National Bank for Financing Infrastructure and Development: The Government of India in consultation with the Reserve Bank of India (RBI) has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a “public financial institution” under the Companies Act, 2013 aiming to boost infrastructure financing in the country.