Category: Economics Current Affairs

De-dollarisation: RBI Governor Shaktikanta Das clarified that India is not taking steps toward de-dollarisation despite discussions within BRICS about a common currency to reduce reliance on the U.S. dollar. The process of reducing reliance on the U.S. dollar in international trade and reserves to mitigate risks associated with currency volatility. Countries like China and Russia […]

Rise in Forex Reserves: India’s foreign exchange rose to USD 658.09 billion in November 2024 after eight weeks of decline, following the peak of USD 704.89 billion in September 2024.The movement in forex reserves is intrinsically linked to India’s merchandise trade deficit and service exports.

Sanjay Malhotra Appointed as New RBI Governor: Sanjay Malhotra, a seasoned bureaucrat and Revenue Secretary, has been appointed as the 26th Governor of the Reserve Bank of India (RBI). A 1990-batch IAS officer from the Rajasthan cadre, he succeeds Shaktikanta Das, whose tenure ends on 10th December 2024. Malhotra brings over three decades of diverse […]

MuleHunter.AI: The Reserve Bank of India asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. MuleHunter.AI is the Artificial Intelligence/ Machine Learning-based model. It has been developed by the Reserve Bank Innovation Hub (RBIH), which is a subsidiary of Reserve Bank of India. This […]

National Council For Vocational Education And Training: The National Council for Vocational Education and Training (NCVET) has officially recognized the Indian National Space Promotion and Authorization Center (IN-SPACe) as an Awarding Body (Dual). It was established by the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India in 2018, as a regulatory body, aimed […]

Indian government bond yields : Study Indian government bond yields witnessed a significant decline, with the 10-year benchmark yield dropping to its lowest level since 2021.This shift is attributed to rising optimism about the Reserve Bank of India (RBI) potentially easing interest rates in its upcoming monetary policy review.

World Bank Approves $188.28 Million Loan for Maharashtra’s Backward Districts: The World Bank has approved a $188.28 million loan to Maharashtra aimed at boosting economic growth in the state’s underdeveloped districts. This loan, provided by the International Bank for Reconstruction and Development (IBRD), comes with a 15-year maturity period, including a five-year grace period. The […]

OECD Raises India’s FY25 Growth Forecast to 6.8%: The Organisation for Economic Co-operation and Development (OECD) has upgraded India’s GDP growth forecast for FY25 to 6.8%, up from 6.7%, citing robust public infrastructure spending, strong private consumption, and recovery in agricultural output. This growth momentum is expected to be sustained through FY25 and FY26, with […]

International Social Security Association: The Employees’ State Insurance Corporation (ESIC) has been awarded one certificate of merit with special mention from the jury for its mobile application (Ask An Appointment – AAA+) at the Regional Social Security Forum for Asia and the Pacific (RSSF Asia-Pacific), organized by the International Social Security Association (ISSA) in Riyadh, […]

Morgan Stanley Cuts India’s FY25 GDP Growth to 6.3%: Morgan Stanley has revised India’s GDP growth projection for FY25 down to 6.3%, from its previous estimate of 6.7%. This downward revision comes after India’s GDP growth slowed to 5.4% in the July-September 2024 quarter, marking its lowest level since March 2023. This reflects a broader […]