Category: Economics Current Affairs

S&P upgrades ratings of 7 Indian banks and 3 finance firms: S&P Global Ratings has upgraded the credit ratings of 10 Indian financial institutions, including seven banks and three finance companies. This move follows India’s first sovereign credit rating upgrade in 18 years, raising it from ‘BBB-/Positive/A-3’ to ‘BBB/Stable/A-2’. The upgrades reflect improving macroeconomic conditions, […]

India’s Electronics Exports Surge 47% in Q1 2025-26: India’s electronics exports surged by 47% year-on-year in Q1 of FY 2025-26, reaching $12.4 billion, according to Union Commerce and Industry Minister Piyush Goyal. The robust growth reflects the success of ‘Make in India’ and India’s transformation into a global manufacturing hub, particularly in the mobile phone […]

ICICI Bank Reduces Minimum Balance Requirement After Public Outrage: ICICI Bank, India’s second-largest private lender, has revised its minimum average balance (MAB) requirement for new savings account holders after facing widespread criticism. The bank had recently raised the MAB from ₹10,000 to ₹50,000 for new customers in urban areas, but public backlash forced a rollback. […]

Cheque Truncation System: The Reserve Bank of India (RBI) has decided on the transition of the Cheque Truncation System (CTS) from the current approach of batch processing to continuous clearing with settlement on realisation in two phases. It is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of […]

US National Debt Hits Record $37 Trillion Amid Rising Government Spending: The U.S. national debt has reached a historic $37 trillion, according to a recent Treasury Department report. This record-breaking figure has arrived years ahead of projections, highlighting the rapid accumulation of federal debt due to pandemic-related expenditures, tax cuts, and new government spending initiatives. […]

Ravi Narayanan, former Axis Bank executive, has been appointed CEO of SMFG India Credit: Ravi Narayanan, former Group Executive at Axis Bank, has been appointed CEO of SMFG India Credit, according to sources familiar with the matter. This marks a pivotal leadership change since Sumitomo Mitsui Financial Group (SMFG) acquired Fullerton India Credit in 2021.The […]

India Poised to Become the World’s Most Sought-After Consumer Market: Morgan Stanley According to a recent report by Morgan Stanley, India is on track to become the world’s most sought-after consumer market, driven by a mix of economic stability, financial reforms, and shifting investment patterns. The report paints an optimistic picture of India’s economic future, […]

Bank of Baroda Introduces Global UPI Services via bob इ Pay App: Bank of Baroda has rolled out international UPI features on its official app, bob इ Pay. This update enables cross-border UPI transactions, making it easier for resident Indians and NRIs to engage in secure and real-time global payments. With this, the bank becomes […]

Government Appoints Merchant Bankers & Legal Advisors for Minority Stake Sales in LIC and PSBs: Department of Investment and Public Asset Management (DIPAM) finalized the empanelment of merchant bankers and legal advisors for a tenure of three years, with provision for extension up to five years, to lead the government’s minority stake sales in Life […]

Revised Income Tax Bill, 2025: Finance Minister has tabled the revised Income Tax Bill, 2025 in the Lok Sabha, incorporating most of the 566 recommendations made by the Parliamentary Select Committee. A new legislation to consolidate, streamline, and modernise India’s direct tax framework, replacing the six-decade-old Income Tax Act, 1961. Features of the Revised Bill: […]