Adani Group Acquires 85.8% Stake in Air Works: The Adani Group has announced the acquisition of an 85.8% stake in Air Works, India’s largest private-sector Maintenance, Repair, and Overhaul (MRO) company, at an enterprise value of Rs 400 crore. This move solidifies Adani’s position in the defence and civil aviation MRO sectors, marking a strategic […]
Category: Economics Current Affairs
Indians in Forbes’ 2024 Power Women List
Indians in Forbes’ 2024 Power Women List: Forbes has unveiled its 21st annual list of the World’s 100 Most Powerful Women, a prestigious ranking that celebrates influential figures across business, entertainment, politics, philanthropy, and policymaking. This year, three Indian women have made their mark on the global stage with remarkable achievements in their respective fields. […]
Free Trade Agreement (FTA)
Free Trade Agreement (FTA): The External Affairs Minister stated that India is taking a cautious approach to FTAs to protect farmers and MSMEs, as discussed at the Bharat@100 Summit by ASSOCHAM. Free Trade Agreements are comprehensive trade deals between two or more countries, aimed at reducing or eliminating trade barriers such as tariffs and import/export […]
Specialised Investment Fund
Specialised Investment Fund: SEBI has introduced a new asset class called Specialised Investment Fund (SIF). It is designed for informed investors willing to take on riskier investments. Specialised Investment Fund (SIF) bridges the gap between mutual funds (MFs) and portfolio management services (PMS). It requires a minimum investment of Rs 10 lakh, with lower thresholds […]
Loan Write-Offs by Banks
Loan Write-Offs by Banks: A large-scale loan write-off by banks over the past few years has contributed to a significant reduction in non-performing assets (NPAs).As a result, banks have achieved a 12-year low NPA ratio of 2.8% of advances by March 2024.Between FY2015 and FY2024, Indian commercial banks wrote off loans amounting to Rs 12.3 […]
RBI Enhances Collateral-Free Loan for Farmers
RBI Enhances Collateral-Free Loan for Farmers: The Reserve Bank of India (RBI) has increased the collateral-free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh to support small and marginal farmers amidst rising input costs.Over 86% of farmers, primarily small and marginal landholders, are expected to benefit.Includes loans for allied agricultural activities, […]
State Fiscal Prudence
State Fiscal Prudence: The Reserve Bank of India (RBI) released its report on state finances, highlighting the fiscal performance of Indian states.Gross Fiscal Deficit (GFD): States contained GFD within 3% of GDP in 2022-23 and 2023-24; budgeted at 3.2% for 2024-25. Revenue Deficit: Limited to 0.2% of GDP in 2023-24. Capital Expenditure: Increased from 2.4% […]
Net Direct Tax Collection Sees Robust 16.45% Growth to Rs 15.82 Lakh Crore
Net Direct Tax Collection Sees Robust 16.45% Growth to Rs 15.82 Lakh Crore: The net direct tax collections for the fiscal year 2023-24 have surged by 16.45% to Rs 15.82 lakh crore by December 17, driven primarily by a strong 21% rise in advance tax payments. This growth reflects the government’s improved tax collection mechanism […]
Rama Mohan Rao Amara Appointed as SBI’s New Managing Director
Rama Mohan Rao Amara Appointed as SBI’s New Managing Director: The Indian government has appointed Rama Mohan Rao Amara as the new Managing Director (MD) of State Bank of India (SBI) for a period of three years. His appointment was approved by the Appointments Committee of the Cabinet (ACC) and follows a recommendation by the […]
India’s rise from 23rd in global smartphone exports in 2019 to 3rd in 2024
India’s rise from 23rd in global smartphone exports in 2019 to 3rd in 2024: India’s ascent from the 23rd position in global smartphone exports in 2019 to securing the 3rd spot in 2024 marks a monumental achievement in its manufacturing and export capabilities. With smartphone exports crossing ₹20,000 crore in November 2024, this growth highlights […]
