Nirmala Sitharaman Attends 9th AIIB Board of Governors Meeting in Samarkand: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman represented India at the 9th Asian Infrastructure Investment Bank (AIIB) Board of Governors meeting held in Samarkand, Uzbekistan, on September 25-26, 2024.
Category: Economics Current Affairs
India’s Largest Blast Furnace in Kalinganagar
India’s Largest Blast Furnace in Kalinganagar: Tata Steel has successfully commissioned India’s largest blast furnace at its Kalinganagar facility in Odisha, marking a significant milestone for the steel sector. With a total investment of Rs 27,000 crore, this Phase II expansion will increase the plant’s capacity from 3 million tonnes per annum (MTPA) to 8 […]
Managing Director and CEO of Federal Bank
Managing Director and CEO of Federal Bank: KVS Manian has officially taken charge as the Managing Director and CEO of Federal Bank, effective September 23, 2024. He succeeds Shyam Srinivasan, who retired after successfully leading the bank since 2010.
Credit Default Swaps
Credit Default Swaps: Securities and Exchange Board of India (SEBI) announced that mutual funds can now sell credit default swaps (CDS) citing the need to aid liquidity growth in corporate bond market, according to its latest circular. The move follows RBI’s directive in 2022 to provide revised regulatory framework for debt derivatives. So far, only […]
Deposit Crunch
Deposit Crunch: Banks are currently experiencing a deposit crunch, which is limiting their ability to extend credit. The Reserve Bank of India Governor Shaktikanta Das had, in July, raised concerns over slower deposit mobilisation compared to credit growth stating that as it may create structural liquidity issues. India is among the fastest-growing large economies of […]
FCRA Licence of International Cooperative Alliance Cancelled
FCRA Licence of International Cooperative Alliance Cancelled: The Foreign Contribution Regulation Act (FCRA) licence of the International Cooperative Alliance (ICA) was cancelled by the Union Home Ministry for alleged rule violations. The ICA, established in 1895, is an apex body representing cooperatives worldwide and has over 1 billion members.
Credit Default Swaps
Credit Default Swaps: The Securities and Exchange Board of India (SEBI) announced that mutual funds can now sell credit default swaps (CDS) citing the need to aid liquidity growth in corporate bond market. Credit Default Swaps is a financial derivative that allows an investor to swap or offset their credit risk with that of another […]
Financial Action Task Force (FATF) released its Mutual Evaluation Report on India
Financial Action Task Force (FATF) released its Mutual Evaluation Report on India: India was found partially compliant in three areas. Non-Profit Organisations (NPOs): NPOs registered as charitable organizations and enjoying tax exemptions could be vulnerable to terror funding. The system requires better measures to address risks associated with these organisations. Politically Exposed Persons (PEPs): Ambiguities […]
NCERT Textbook
NCERT Textbook: A chapter titled ‘Veer Abdul Hameed’ and a poem titled ‘National War Memorial’ have been included in the NCERT curriculum of Class VI.
YES BANK and Paisabazaar Launch Feature-rich ‘PaisaSave’ Cashback Credit Card
YES BANK and Paisabazaar Launch Feature-rich ‘PaisaSave’ Cashback Credit Card: Paisabazaar, India’s leading online marketplace for consumer credit and free credit score platform, has partnered with YES BANK, India’s sixth largest private sector bank, to unveil their co-branded credit card – YES BANK Paisabazaar PaisaSave Credit Card.
