Category: Economics Current Affairs

Cesses and Surcharges: Arvind Panagariya, Chairman, 16th Finance Commission, recently termed the grievance of States regarding the Centre’s increasing reliance on cesses and surcharges as a “complicated issue.”Cess and surcharges are levied by the Central government for the purposes of the Union under Article 271 of the Constitution of India.

Telugu Woman Banker Honored as Rising Star in Banking 2024: Bharati Kolli, a 43-year-old woman from Vizianagaram district in Andhra Pradesh, has been recognized as one of the Rising Star Women Leaders of Banking for 2024 by the renowned women’s group, Women We Admire. Bharati’s remarkable contribution to the banking sector, particularly in data management, […]

Retail Inflation Eases for Farm and Rural Workers in October 2024: Retail inflation for agricultural and rural workers showed a decline in October 2024, easing to 5.96% for farm workers and 6% for rural labourers, down from 6.36% and 6.39% in September 2024. This shift represents a positive trend from the inflation rates of October […]

De-dollarisation: RBI Governor Shaktikanta Das clarified that India is not taking steps toward de-dollarisation despite discussions within BRICS about a common currency to reduce reliance on the U.S. dollar. The process of reducing reliance on the U.S. dollar in international trade and reserves to mitigate risks associated with currency volatility. Countries like China and Russia […]

Rise in Forex Reserves: India’s foreign exchange rose to USD 658.09 billion in November 2024 after eight weeks of decline, following the peak of USD 704.89 billion in September 2024.The movement in forex reserves is intrinsically linked to India’s merchandise trade deficit and service exports.

Sanjay Malhotra Appointed as New RBI Governor: Sanjay Malhotra, a seasoned bureaucrat and Revenue Secretary, has been appointed as the 26th Governor of the Reserve Bank of India (RBI). A 1990-batch IAS officer from the Rajasthan cadre, he succeeds Shaktikanta Das, whose tenure ends on 10th December 2024. Malhotra brings over three decades of diverse […]

MuleHunter.AI: The Reserve Bank of India asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. MuleHunter.AI is the Artificial Intelligence/ Machine Learning-based model. It has been developed by the Reserve Bank Innovation Hub (RBIH), which is a subsidiary of Reserve Bank of India. This […]

National Council For Vocational Education And Training: The National Council for Vocational Education and Training (NCVET) has officially recognized the Indian National Space Promotion and Authorization Center (IN-SPACe) as an Awarding Body (Dual). It was established by the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India in 2018, as a regulatory body, aimed […]

Indian government bond yields : Study Indian government bond yields witnessed a significant decline, with the 10-year benchmark yield dropping to its lowest level since 2021.This shift is attributed to rising optimism about the Reserve Bank of India (RBI) potentially easing interest rates in its upcoming monetary policy review.

World Bank Approves $188.28 Million Loan for Maharashtra’s Backward Districts: The World Bank has approved a $188.28 million loan to Maharashtra aimed at boosting economic growth in the state’s underdeveloped districts. This loan, provided by the International Bank for Reconstruction and Development (IBRD), comes with a 15-year maturity period, including a five-year grace period. The […]