Category: Economics Current Affairs

Increase in rural wages: The Indian economy and farm sector have grown at an average annual rate of 4.6% and 4.2% respectively from 2019-20 to 2023-24 but it has not led to an increase in rural wages. Nominal Wages: From April 2019 to August 2024, rural wages grew at an average annual rate of 5.2% […]

Equity infusion of ₹10,700 crore: The Union Cabinet approved an equity infusion of ₹10,700 crore for the Food Corporation of India (FCI) on Wednesday. This move is expected to reduce FCI’s dependency on high-interest debt for funding its large-scale food distribution efforts. It aligns with the government’s ongoing strategy to enhance food security and minimize […]

Centralised Asset Liquidation Auction Platform: The Insolvency and Bankruptcy Board of India (IBBI) and Indian Banks’ Association (IBA) plans to create a centralised platform for auctioning of assets under the Insolvency and Bankruptcy Code (IBC).Auction of assets will be conducted via the eBKray platform which has been operating auctions for mortgaged assets under the SARFAESI […]

IDFC FIRST Bank Launches Real-Time International Money Transfer Tracking: IDFC FIRST Bank, in partnership with Swift, has introduced a groundbreaking real-time tracking service for international money transfers. Available on its award-winning mobile app and internet banking platforms, this service positions IDFC FIRST Bank as the first Indian bank to offer end-to-end traceability for cross-border payments. […]

Union Minister Dr. Virendra Kumar Launches ‘Shilp Samagam Mela 2024’ and Unveils ‘TULIP’ Platform: The Union Ministry of Social Justice and Empowerment inaugurated the ‘Shilp Samagam Mela 2024’ with a grand opening at Dilli Haat, New Delhi. Organized by key Corporations under the Ministry, including the National Scheduled Castes Finance and Development Corporation (NSFDC), National […]

SBI Mutual Fund : In News SBI Mutual Fund (SBI MF) has made headlines by becoming the first fund house in India to surpass the ₹10 lakh crore mark in assets under management (AUM), reaching ₹10.99 lakh crore in the September quarter, a notable increase from ₹9.88 lakh crore in June. This achievement places SBI […]

National Stock Exchange of India (NSE) has launched its official mobile app: On the occasion of Diwali and to mark its 30th anniversary, the National Stock Exchange of India (NSE) has launched its official mobile app, NSEIndia, and expanded its corporate website to support a total of 12 languages. This initiative aims to create a […]

Canara Bank is setting a significant target for loan recovery: State-owned Canara Bank is setting a significant target for loan recovery, aiming to recoup approximately ₹6,000 crore from bad loans in the second half of the current fiscal year (H2 FY25). This strategic goal reflects the bank’s ongoing efforts to improve asset quality while building […]

Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), and Small and Medium REITs (SM REITs): The Securities and Exchange Board of India (SEBI) has introduced a range of proposed changes for Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), and Small and Medium REITs (SM REITs) aimed at enhancing market flexibility and investor […]

Indian Council of Social Science Research : Implementation of the 7th Central Pay Commission revised pay scales Faculty and staff members from Indian Council of Social Science Research (ICSSR) institutions have written to the Minister of Education expressing concern over the delay in implementation of the 7th Central Pay Commission revised pay scales. Indian Council […]