RBI Sets Up Panel for Ethical AI Framework in Financial Sector: The Reserve Bank of India (RBI) has constituted an eight-member committee to develop the Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. Announced during the RBI’s December monetary policy meeting, this initiative focuses on guiding the adoption of […]
Category: Economics Current Affairs
Farmers Producer Organisations
Farmers Producer Organisations: The Indian Council for Research on International Economic Relations (ICRIER) recently analyzed challenges faced by India’s Farmer Producer Organisations (FPOs) and suggested necessary reforms. An FPO is a type of Producer Organisation (PO) formed by farmers. It operates as an organization of the producers, by the producers, and for the producers. The […]
55th GST Council Meeting
55th GST Council Meeting: The Finance Minister chaired the 55th Goods and Services Tax (GST) Council meeting. GST council decided to raise the rate of tax to 18% from 12% on all used EV sales, just as in case of non-electric vehicles. GST will apply only to the margin value (difference between purchase and selling […]
Govt Infuses ₹500 Cr in IFCI to Boost Financial Health
Govt Infuses ₹500 Cr in IFCI to Boost Financial Health: The Indian government has decided to infuse ₹500 crore into the state-owned Industrial Finance Corporation of India (IFCI) to strengthen its financial health ahead of the company’s restructuring. This infusion will likely increase the government’s stake in IFCI beyond its current holding of 71.72% as […]
SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case
SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case: The Securities and Exchange Board of India (SEBI) has issued an interim order banning Sachin Bakul Dagli, an equity dealer with PNB MetLife, and eight other entities from the securities market for their involvement in a front-running scheme. This fraudulent activity, operational for over three […]
RBI Report on State Finances 2024-25
RBI Report on State Finances 2024-25: The Reserve Bank of India’s (RBI) report, State Finances – A Study of Budgets of 2024-25, highlighted the progress made by state governments in fiscal consolidation, alongside significant challenges such as high debt levels and rising subsidies. Key Highlights of the Report: The average tax buoyancy (responsiveness of tax […]
Green Deposits
Green Deposits: Green deposits in India face sluggish adoption due to pricing issues, low public engagement, and limited interest from private banks.These are interest-bearing deposits earmarked for funding green projects, such as solar energy, clean transportation, and sustainable water management.In June 2023, the Reserve Bank of India’s (RBI) introduced a framework for green deposits to […]
Adani Group Acquires 85.8% Stake in Air Works
Adani Group Acquires 85.8% Stake in Air Works: The Adani Group has announced the acquisition of an 85.8% stake in Air Works, India’s largest private-sector Maintenance, Repair, and Overhaul (MRO) company, at an enterprise value of Rs 400 crore. This move solidifies Adani’s position in the defence and civil aviation MRO sectors, marking a strategic […]
Indians in Forbes’ 2024 Power Women List
Indians in Forbes’ 2024 Power Women List: Forbes has unveiled its 21st annual list of the World’s 100 Most Powerful Women, a prestigious ranking that celebrates influential figures across business, entertainment, politics, philanthropy, and policymaking. This year, three Indian women have made their mark on the global stage with remarkable achievements in their respective fields. […]
Free Trade Agreement (FTA)
Free Trade Agreement (FTA): The External Affairs Minister stated that India is taking a cautious approach to FTAs to protect farmers and MSMEs, as discussed at the Bharat@100 Summit by ASSOCHAM. Free Trade Agreements are comprehensive trade deals between two or more countries, aimed at reducing or eliminating trade barriers such as tariffs and import/export […]
