India Achieves Fiscal Deficit Target of 4.8% for FY25: The Government of India has successfully met its fiscal deficit target of 4.8% of Gross Domestic Product (GDP) for the financial year 2024–25, as revealed in the provisional data released by the Controller General of Accounts (CGA).The CGA, under the Department of Expenditure, Ministry of Finance, […]
Category: Economics Current Affairs
India has extended financial support to the Maldives by rolling over (renewing) a USD 50 million Treasury Bill
India has extended financial support to the Maldives by rolling over (renewing) a USD 50 million Treasury Bill: India has extended financial support to the Maldives by rolling over (renewing) a USD 50 million Treasury Bill, under a special government-to-government (G2G) framework that began in 2019. India recognized Maldives in 1965 and established its mission […]
RBI Update: Only 1.74% of ₹2,000 Notes Remain in Circulation
RBI Update: Only 1.74% of ₹2,000 Notes Remain in Circulation The Reserve Bank of India (RBI) has revealed that 98.26% of the ₹2,000 denomination banknotes in circulation have been returned as of May 31, 2025. The note, once introduced post-demonetisation in 2016, is now being gradually withdrawn under the RBI’s Clean Note Policy, though it […]
Deutsche Bank Appoints Stefan Schaffer as CEO of India GCC
Deutsche Bank Appoints Stefan Schaffer as CEO of India GCC: Deutsche Bank has appointed Stefan Schaffer as the new CEO of its India Global Capability Centre (GCC). Schaffer will also take on dual roles as the Global CIO for Corporate Functions and Head of Global Technology Centres, signifying the bank’s strong commitment to its India […]
Canara Bank Removes Minimum Balance Rule for All SB Accounts
Canara Bank Removes Minimum Balance Rule for All SB Accounts: Canara Bank has waived the minimum balance requirement across all its savings bank (SB) accounts, including regular savings, salary, and NRI accounts. This decision eliminates Average Monthly Balance (AMB)-related penalties, making Canara Bank the first major public sector bank in India to implement such a […]
RBI Grants In-Principle Approval to PayPal and Worldline for Cross-Border Payment Aggregation
RBI Grants In-Principle Approval to PayPal and Worldline for Cross-Border Payment Aggregation: The Reserve Bank of India (RBI) has granted in-principle approval to PayPal Payments and Worldline ePayments India to operate as cross-border payment aggregators (PAs) under the Payment and Settlement Systems Act, 2007. This move is set to boost India’s position in global trade […]
Germany Becomes the World’s Top Creditor, Overtaking Japan After 34 Years
Germany Becomes the World’s Top Creditor, Overtaking Japan After 34 Years: Germany has overtaken Japan as the world’s top creditor country in 2024, ending Japan’s 34-year reign. This change, driven by current account surpluses, exchange rate dynamics, and structural economic trends, reflects broader transformations in global trade and investment patterns.Germany became the world’s largest net […]
Asian Development Bank : New Initiative
Asian Development Bank : New Initiative The Asian Development Bank (ADB) President recently announced a five-year initiative to transform urban infrastructure across India, with an estimated investment of $10 billion. Asian Development Bank (ADB) is a multilateral development bank established on 19th December 1966. It is the principal international development finance institution for the Asia-Pacific […]
India Green Economy Potential
India Green Economy Potential: A recent NLB Services report forecasts that India will generate 7.29 million green jobs by FY28 and 35 million by 2047.A green economy refers to economic activities that reduce environmental risks, improve ecological sustainability, and generate employment through low-carbon, resource-efficient, and inclusive growth. India is expected to generate 7.29 million green […]
Krishi Nivesh Portal
Krishi Nivesh Portal: In a bid to boost and expedite investments in the agriculture sector, the government is working to integrate schemes from various ministries and state governments under a unified digital platform the Krishi Nivesh portal. It is an initiative by the Ministry of Agriculture & Farmers Welfare to facilitate farmers and investors. The […]
