Category: Economics Current Affairs

Enhanced Certificates of Origin 2.0 System: The Directorate General of Foreign Trade (DGFT) has launched the enhanced Certificate of Origin (eCoO) 2.0 System. Enhanced Certificates of Origin 2.0 System is an upgrade designed to simplify the certification process for exporters and enhance trade efficiency. It offers several user-friendly features, such as multi-user access, which enables […]

IDBI Bank Reappoints Rakesh Sharma as MD & CEO for 3 Years: IDBI Bank’s Board of Directors has approved the reappointment of Rakesh Sharma as Managing Director and Chief Executive Officer (MD & CEO) for a three-year term, effective March 19, 2025. This decision follows the necessary approval from the Reserve Bank of India (RBI).

Government Approves ₹500 Crore Capital Infusion into IFCI for FY 2024-25: The Government of India has approved a ₹500 crore capital infusion into the Industrial Finance Corporation of India (IFCI) for FY 2024-25. This infusion, part of the supplementary demand for grants, aims to strengthen IFCI’s financial position.This strategic move aims to bolster IFCI’s financial […]

Unified Pension Scheme : In News The Union Finance Ministry recently notified operationalization of the Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for central government employees. UPS will apply to Central Government employees who are covered under the National Pension System (NPS) and who choose this option under the […]

Reserve Bank-Integrated Ombudsman Scheme: The Reserve Bank of India (RBI) resolved 95 per cent of complaints received under the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS) between April 1, 2023, and March 31, 2024. Reserve Bank-Integrated Ombudsman Scheme was launched on November 12, 2021. It adopts ‘One Nation – One Ombudsman’ approach by making the RBI’s Ombudsman […]

India has significantly reduced its fiscal deficit: India has significantly reduced its fiscal deficit from a pandemic high of 9.2% of GDP in FY 2020-21 to an estimated 5.6% in FY 2023-24, with a target of 4.9% for FY 2024-25.Through targeted spending and enhanced revenue collection, the country has made substantial progress in fiscal consolidation […]

External Commercial Borrowing: A recent State Bank of India (SBI) report highlights the rising contributions of private sector investments and the role of External Commercial Borrowing (ECBs) in driving corporate financing, modernization, and capital expansion.External Commercial Borrowing (ECB) refers to loans or funding raised by Indian entities from foreign sources, including commercial banks, export credit […]

P. Suriaraj Appointed Executive Director of Dhanlaxmi Bank: P. Suriaraj has assumed the role of Executive Director at Dhanlaxmi Bank, bringing with him a wealth of experience from his tenure at Tamilnad Mercantile Bank Ltd. His appointment is expected to bolster the bank’s strategic initiatives and operational efficiency.

Punjab National Bank (PNB) has become the first Indian bank to launch Clari5’s National Cybercrime Reporting Portal (NCRP) Integration Solution: Punjab National Bank (PNB) has become the first Indian bank to implement Clari5’s National Cybercrime Reporting Portal (NCRP) Integration Solution, marking a significant advancement in fraud prevention and complaint management. This state-of-the-art system, developed in […]

RBI Fines Canara, BOI, and J&K Bank: RBI penalized Canara Bank (₹1.63 crore), J&K Bank (₹3.31 crore), and Bank of India (₹1 crore) for regulatory non-compliance in areas like loans, data, and KYC.These penalties underscore the RBI’s ongoing efforts to enforce regulatory compliance within the banking sector.