Category: Economics Current Affairs

Govt Plans 1-Year Free-Look Period for Insurance: The Indian government has proposed extending the ‘free-look’ period for insurance policies from the current 30 days to one year. This move is expected to help policyholders review their insurance terms carefully and prevent mis-selling in the industry. The proposal, announced by the Department of Financial Services Secretary […]

Kisan Credit Card (KCC) Amount Crosses ₹10 Lakh Crore Benefiting 7.72 Crore Farmers: The Kisan Credit Card (KCC) scheme has played a crucial role in ensuring that farmers in India have timely access to affordable credit for agricultural and allied activities. Over the years, the scheme has undergone several modifications to enhance credit penetration in […]

Qualified Institutional Placement: Shareholders of the Indian Renewable Energy Development Agency Ltd. (IREDA) recently approved the company’s proposal to raise up to ₹5,000 crore through the Qualified Institutional Placement (QIP) of equity shares in one or multiple tranches. Qualified Institutional Placement (QIP) is a capital-raising mechanism through which public listed companies use to issue equity […]

IndusInd Bank Becomes Official Banking Partner of PGTI: IndusInd Bank has announced its partnership with the Professional Golf Tour of India (PGTI) as its official Banking Partner. This collaboration aims to enhance the banking experience for Ultra High Net Worth Individuals (UHNIs) and High Net Worth Individuals (HNIs) under the PIONEER banking program. The partnership […]

Rupee & Dollar Swap Auctions: RBI announced a $10 billion USD/INR buy/sell swap auction to inject ₹86,000 crore into the banking system.It is a tool used by RBI to manage liquidity in the economy and stabilize currency volatility. Banks sell US dollars to RBI in exchange for rupees in the first leg and agree to […]

Sabyasachi Kar Named Director of Institute of Economic Growth: Professor Sabyasachi Kar has been appointed as the new Director of the Institute of Economic Growth (IEG), New Delhi, effective February 6, 2025. He takes over from Professor Chetan Ghate, bringing with him vast academic and policy-making experience. IEG, known for its contributions to economic and […]

Ex Gratia Payment: The Ministry of Railways handed over wads of cash in bundles of notes of Rs 100 and 50 after announcing that it would provide Rs 10 lakh ex-gratia to the kin of the 18 deceased in the stampede at the New Delhi Railway Station recently. It is a type of payment made […]

Shaktikanta Das Appointed Principal Secretary-2 to PM Modi: The government has appointed retired IAS officer and former Reserve Bank of India (RBI) Governor Shaktikanta Das as Principal Secretary-2 to Prime Minister Narendra Modi. Das is the first Principal Secretary to have extensive experience in both fiscal and monetary policy, making his appointment crucial at a […]

Bank Credit to NBFCs Falls to 4-Year Low at 6.7% in 2024: RBI Bank lending to Non-Banking Financial Companies (NBFCs) has slowed significantly, hitting a four-year low of 6.7% in 2024, according to the latest data from the Reserve Bank of India (RBI). This decline is mainly due to higher risk weights imposed on such […]

HAL & DIAT Collaborate for Aerospace Innovation: Hindustan Aeronautics Limited (HAL) has taken a significant step in bridging the gap between industry and academia by signing a Memorandum of Understanding (MoU) with the Defence Institute of Advanced Technology (DIAT), Pune. The collaboration aims to foster cutting-edge research, skill development, and technological advancements in the aerospace […]