Category: Economics Current Affairs

Public Sector Banks Record Net Profit of Rs 85,520 Crore In First Half FY2024-25: In the first half of FY 2024-25, Public Sector Banks (PSBs), including the State Bank of India (SBI), reported a net profit of ₹85,520 crore, marking an impressive 26% growth compared to ₹67,850 crore during the same period in the previous […]

India’s wholesale inflation eased to 1.9% in November: India’s wholesale inflation moderated to 1.9% in November, down from 2.4% in October, with food price inflation easing significantly from a 25-month high of 11.6% in October to 8.9%. Despite this, prices for manufactured products, such as food products, furniture, pharmaceuticals, and electrical equipment, continued to rise, […]

BOBCARD Launches TIARA Credit Card: BOBCARD has launched the TIARA Credit Card, a premium, women-centric offering designed to empower modern women. This card is packed with rewards across various categories such as travel, lifestyle, dining, entertainment, and health, providing women with the tools to manage their finances without compromising on lifestyle. The launch event, held […]

Manish Jain Appointed Executive Director at YES Bank: YES Bank announced that the Reserve Bank of India (RBI) had approved the appointment of Manish Jain as the Executive Director (Whole-Time Director) of the bank. Jain’s appointment is for a period of three years, starting from December 11, 2024, to December 10, 2027. This move follows […]

Time magazine has honored Donald Trump as its 2024 Person of the Year: Time magazine has named Donald Trump as its Person of the Year for 2024, marking the second time he has received this prestigious recognition. The decision highlights Trump’s substantial political influence, his historic comeback following his victory in the November 5 election […]

India’s GDP Growth Projections for FY25: India’s GDP growth projections for FY25 have been revised downward by multiple agencies, reflecting cautious optimism amid global and domestic challenges. CARE Ratings has lowered its FY25 GDP growth estimate from 6.8% to 6.5%, citing a contraction in corporate profitability, reduced public capital expenditure (capex), and sluggish urban consumption […]

India’s industrial output grew 3.5% in October 2024: India’s industrial output growth slowed to 3.5% in October 2024, a sharp drop from 11.9% recorded in the same month last year. The Index of Industrial Production (IIP) for October 2024 stood at 149.9, up from 144.9 in October 2023. The slowdown was driven by weaker performance […]

India’s retail inflation eased to 5.48% in November: India’s retail inflation moderated to 5.48% in November from 6.21% in October, marking a significant decline driven by easing food prices, particularly vegetables. This shift brought inflation back within the Reserve Bank of India’s (RBI) target range, raising expectations of a potential rate cut in early 2025.

The Asian Development Bank (ADB) has approved a $500 million loan to support India’s renewable energy and climate-resilient infrastructure: The Asian Development Bank (ADB) has approved a $500 million loan to support India’s efforts to expand renewable energy and build climate-resilient infrastructure. The loan is part of ADB’s ongoing commitment to help India meet its […]

SFBs to Offer UPI-Based Credit Lines: The Reserve Bank of India (RBI) has decided to permit Small Finance Banks (SFBs) to extend pre-sanctioned credit (loan) lines through the Unified Payments Interface (UPI).It aims to deepen financial inclusion and enhance formal credit, particularly for ‘new to credit’ customers.