Category: Economics Current Affairs

BoB to Sell Oman Operations to Bank Dhofar: State-owned Bank of Baroda (BoB) has announced its decision to sell its Oman operations to Bank Dhofar as part of a broader strategy to rationalize its foreign business footprint. This acquisition will take place on a going concern basis, pending approval from regulatory authorities.

HDFC Bank Divests 100% Stake in HDFC Edu for ₹192 Crore: HDFC Bank has officially announced the divestment of its entire 100% stake in HDFC Education and Development Services Pvt. Ltd (HDFC Edu) to Vama Sundari Investments for ₹192 crore.

UPI and AANI Link-Up: Union Commerce Minister Piyush Goyal has informed that the Indian and UAE governments are working on interlinking the UPI of India and the AANI of UAE. It will facilitate seamless cross-border transactions between two countries.

RBI and Maldives Monetary Authority Sign $400 Million Currency Swap Agreement: The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have signed a currency swap agreement under the SAARC Currency Swap Framework for 2024-2027. This agreement allows the Maldives to access up to $400 million under the US Dollar/Euro Swap Window and […]

RBI Deputy Governor M. Rajeshwar Rao’s Tenure Extended for One Year: The government has approved a one-year extension for M. Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI), effective October 9, 2024. This decision was made by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, following […]

EnviStats India 2024: The Ministry of Statistics and Programme Implementation (MoSPI) compiled and released the 7th consecutive issue of the publication “EnviStats India 2024: Environment Accounts”. EnviStats India 2024 is compiled in accordance with the System of Environmental-Economic Accounting (SEAA). The current publication which is seventh in the series covers Energy Accounts, Ocean Accounts, Soil […]

Aviral Jain Joins RBI as Executive Director: The Reserve Bank of India (RBI) has appointed Aviral Jain as Executive Director (ED) with effect from October 01, 2024. Prior to being promoted to ED, Jain was serving as Regional Director for Maharashtra. As Executive Director, he will look after the several departments for the smooth functioning […]

Department of Posts and Amazon Unite to Enhance Delivery Services: The Department of Posts (DoP), with its deep reach, and Amazon, one of the world’s largest e-commerce companies, together seek to empower India’s growing e-commerce sector by enhancing logistical capabilities, supporting job creation, and contributing to economic growth, signed a Memorandum of Understanding (MoU).

India’s Forex Reserves Surpass $700 Billion Milestone for the First Time: India’s foreign exchange reserves have exceeded $700 billion for the first time, reaching $704.89 billion in the week ending September 27, 2024. This marks a record increase of $12.58 billion, with foreign currency assets (FCAs) rising by $10.4 billion to $616 billion and gold […]

Federal Bank Teams Up with Bhashini to Add Vernacular Support to Chatbot Feddy: Federal Bank has signed an MoU with Bhashini, an AI-powered language translation platform, to integrate vernacular language support into its AI chatbot, Feddy. This collaboration, inspired by the Reserve Bank Innovation Hub’s (RBIH) initiative for local language banking, aims to make banking […]