Category: Economics Current Affairs

State Bank of India (SBI) and India Exim Bank are actively supporting businesses in African countries: The State Bank of India (SBI) and India Exim Bank are actively supporting businesses in African countries by addressing the trade finance gap, as highlighted by the South African heads of the two organizations during the India Entrepreneurs Forum […]

Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank: The Financial Services Institutions Bureau (FSIB) has recommended Ashok Chandra as the next Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB). Currently serving as Executive Director at Canara Bank since November 2022, Chandra’s banking career began in September […]

State Contingent Debt Instruments (SCDIs): The Global Sovereign Debt Roundtable (GSDR), which addresses challenges in debt restructuring processes, is set to discuss State Contingent Debt Instruments (SCDIs). SCDIs helps speed up debt restructuring by offering bonds with payouts contingent on countries meeting specific economic or fiscal targets. E.g., GDP-linked bonds issued by Ukraine that are […]

Shaktikanta Das Earns A+ in Central Bank Report Card 2024: Reserve Bank of India (RBI) Governor Shaktikanta Das has been awarded an A+ grade in the Central Bank Report Cards 2024, marking his second consecutive year of recognition. This accolade was presented by Global Finance during an event in Washington, D.C. The grades, ranging from […]

Drop in India’s Foreign Exchange Reserves: India’s foreign exchange reserves decreased by $2.163 billion, bringing the total to $688.267 billion for the week ending October 18, as reported by the Reserve Bank of India. This decline follows a significant drop of $10.746 billion in the previous week, marking one of the largest reductions in reserves […]

SBI for Solar Project Financing: Solex Energy has partnered with the State Bank of India (SBI) to provide financing options for solar projects, targeting commercial, industrial, and institutional customers. Under this collaboration, SBI will offer loans up to ₹10 crore through its Surya Shakti Solar Finance Scheme, aiming to make solar energy more accessible and […]

State Bank of India (SBI) has been recognized as the Best Bank in India for 2024: State Bank of India (SBI) has been awarded the title of Best Bank in India for 2024 by Global Finance Magazine during its 31st Annual Best Bank Awards, held in Washington, coinciding with the Annual Meetings of the IMF […]

Mudra loans: The government has doubled the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh, introducing a new ‘Tarun Plus’ category. This change, announced by Finance Minister Nirmala Sitharaman in her July 2024 Budget speech, aims to promote entrepreneurship and support emerging business owners. […]

National Institute of Public Finance and Policy: The National Institute of Public Finance and Policy (NIPFP) has revised its growth forecast for India to 6.9-7.1% for FY25, citing a notable moderation in growth during the June quarter. This slowdown is attributed to a significant contraction in net exports and reduced government consumption due to the […]

Amitabh Chaudhry Managing Director and Chief Executive Office Of Axis Bank: Axis Bank has officially announced the re-appointment of Amitabh Chaudhry as its Managing Director and Chief Executive Officer for a new three-year term, effective from January 1, 2025, to December 31, 2027. Key Points Approval Timeline The re-appointment was approved by shareholders during the […]