RBI Increases UPI Lite Wallet and Transaction Limits: The Reserve Bank of India (RBI) has raised the UPI Lite wallet limit to Rs 5,000, with an increase in the per-transaction limit to Rs 1,000. This adjustment, announced after the RBI’s Monetary Policy Committee (MPC) meeting on October 9, 2024, aims to promote wider adoption of […]
Category: Economics Current Affairs
US Approves $1.17 Billion Deal for Indian Navy Chopper Equipment
US Approves $1.17 Billion Deal for Indian Navy Chopper Equipment: The outgoing Biden administration has approved a $1.17 billion deal under the Foreign Military Sales (FMS) program to supply advanced communication systems, sensors, and logistical support for the Indian Navy’s Sikorsky MH-60R multi-role helicopters. The deal, part of a broader strategy to counter challenges in […]
NSIC Pays Record Dividend of Rs. 37.97 Crore for FY 2023-24
NSIC Pays Record Dividend of Rs. 37.97 Crore for FY 2023-24: The National Small Industries Corporation Limited (NSIC), a Mini Ratna enterprise under the Ministry of MSME, achieved a milestone by paying its highest-ever dividend of Rs. 37.97 crore to the Government of India for the financial year 2023-24. Chairman-cum-Managing Director, Dr. Subhransu Sekhar Acharya, […]
Global One-Stop Centres
Global One-Stop Centres: The Ministry of External Affairs’ proposal to establish nine One-Stop Centres (OSCs) has received approval from the Empowered Committee of the Ministry of Women and Child Development. These centres aim to provide comprehensive assistance to women in vulnerable situations, addressing their immediate needs and offering critical support. Out of the nine proposed […]
National Housing Bank
National Housing Bank: Aviom India Housing Finance has informed its creditors about an ongoing audit by the National Housing Bank (NHB) following the discovery of fraudulent transactions during a recent onsite supervisory inspection. National Housing Bank (NHB) is an apex agency established to promote housing finance companies (HFCs) in India. It is an All-India Financial […]
RBI Lifts Supervisory Restrictions on Navi Finserv
RBI Lifts Supervisory Restrictions on Navi Finserv: The Reserve Bank of India (RBI) lifted the supervisory restrictions imposed on Navi Finserv, a non-banking financial company (NBFC) led by Sachin Bansal. This decision comes after the company took significant corrective measures to address the regulatory concerns that had led to the imposition of restrictions on October […]
Special Assistance to States for Capital Investment (SASCI) – Development of Iconic Tourist Centres to Global Scale.
Special Assistance to States for Capital Investment (SASCI) – Development of Iconic Tourist Centres to Global Scale: The Union Government has allocated Rs 3,295 crore for the development of 40 tourism projects across 23 states under the Special Assistance to States for Capital Investment (SASCI) – Development of Iconic Tourist Centres to Global Scale.While SASCI […]
GST Collection for November
GST Collection for November: India’s Goods and Services Tax (GST) revenue rose by 8.5% to ₹1.82 lakh crore in November 2024, compared to ₹1.68 lakh crore in the same month last year. The growth is primarily driven by higher revenues from domestic transactions, with GST from domestic transactions increasing by 9.4%. This increase is significant, […]
FDI Inflows to India
FDI Inflows to India: In the July-September quarter of 2024-25, Singapore emerged as the largest source of Foreign Direct Investment (FDI) for India, contributing a significant 50% of the total inflows, which amounted to USD 13.6 billion. This marks a 43% increase in overall FDI inflows to India, reflecting a strong recovery after a period […]
Assessing Universal Basic Literacy in India
Assessing Universal Basic Literacy in India: the 79th round of the National Sample Survey (NSS), conducted between July 2022 and June 2023, revealed that 95.9% of individuals in India possess basic literacy and numeracy skills.The survey assesses the literacy and basic numeracy skills of Indians aged 15–29, focusing on reading, writing, and arithmetic abilities.In rural […]
