Category: Economics Current Affairs

Aviral Jain Joins RBI as Executive Director: The Reserve Bank of India (RBI) has appointed Aviral Jain as Executive Director (ED) with effect from October 01, 2024. Prior to being promoted to ED, Jain was serving as Regional Director for Maharashtra. As Executive Director, he will look after the several departments for the smooth functioning […]

Department of Posts and Amazon Unite to Enhance Delivery Services: The Department of Posts (DoP), with its deep reach, and Amazon, one of the world’s largest e-commerce companies, together seek to empower India’s growing e-commerce sector by enhancing logistical capabilities, supporting job creation, and contributing to economic growth, signed a Memorandum of Understanding (MoU).

India’s Forex Reserves Surpass $700 Billion Milestone for the First Time: India’s foreign exchange reserves have exceeded $700 billion for the first time, reaching $704.89 billion in the week ending September 27, 2024. This marks a record increase of $12.58 billion, with foreign currency assets (FCAs) rising by $10.4 billion to $616 billion and gold […]

Federal Bank Teams Up with Bhashini to Add Vernacular Support to Chatbot Feddy: Federal Bank has signed an MoU with Bhashini, an AI-powered language translation platform, to integrate vernacular language support into its AI chatbot, Feddy. This collaboration, inspired by the Reserve Bank Innovation Hub’s (RBIH) initiative for local language banking, aims to make banking […]

ADB Approves $162 Million Loan to Boost Sustainable Tourism Development: the Asian Development Bank (ADB) approved a $162 million loan to enhance tourism development in Himachal Pradesh. This funding, aimed at reviving the tourism economy in the five districts severely affected by the pandemic—Hamirpur, Kangra, Kullu, Mandi, and Shimla—will support the Sustainable and Inclusive Tourism […]

Small Savings Scheme Interest Rates Unchanged for Q3 FY25: The government has announced that interest rates on various small savings schemes, including the Public Provident Fund (PPF) and National Savings Certificate (NSC), will remain unchanged for the third consecutive quarter, starting from October 1, 2024, to December 31, 2024.

SEBI Imposes ₹12 Lakh Fine on NSE Data And Analytics for Regulatory Violations: The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹12 lakh on NSE Data And Analytics Ltd due to multiple regulatory infractions identified during an inspection. This fine highlights ongoing concerns about compliance within financial institutions and the […]

98% of the ₹2,000 notes have been returned : RBI The Reserve Bank of India (RBI) announced that 98% of the ₹2,000 notes have been returned since their withdrawal in May 2023. This has led to the total value of the denomination in circulation dropping significantly from ₹3.56 lakh crore to ₹7,117 crore as of […]

Reconstitution Of Monetary Policy Committee: The central government has reconstituted the Monetary Policy Committee (MPC) ahead of the Reserve Bank of India (RBI) monetary policy review scheduled for October 7-9. This decision comes as part of the RBI’s mandate to maintain consumer price index (CPI) inflation within a target range of 2-6% and aims to […]