Category: Economics Current Affairs

Inquiry Wing of Lokpal: The Lokpal has constituted an inquiry wing to conduct a preliminary probe into graft-related offences committed by public servants. Section 11 of the Lokpal and Lokayuktas Act, 2013, mandates the Lokpal to establish an inquiry wing. This wing is responsible for conducting preliminary inquiries into offences under the Prevention of Corruption […]

National Bank for Financing Infrastructure and Development: The Government of India in consultation with the Reserve Bank of India (RBI) has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a “public financial institution” under the Companies Act, 2013 aiming to boost infrastructure financing in the country.

India’s Foreign Kitty Jumps to Fresh Time High at 689.24bn: The Reserve Bank of India (RBI) announced that India’s forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion till 6th September, 2024.

5 Lakh For Some Transactions: The National Payments Corporation of India (NPCI) has increased the transaction limits for tax payments using UPI (Unified Payment Interface), by allowing people to send 5 lakh in a single transaction.

Maharashtra to establish Tribal University in Nashik: The governor of Maharashtra Shri. C. P. Radhakrishnan has announced in the event that Maharashtra state will establish the tribal university for the development of tribal students and for their better future.

RBI Fines Axis Bank and HDFC Bank for Non-Compliance: The Reserve Bank of India (RBI) has levied fines on HDFC Bank and Axis Bank due to regulatory non-compliance. HDFC Bank has been fined ₹1.91 crore, while Axis Bank has received a ₹1 crore penalty.

Lockheed Martin and Tata Systems Partner for C-130J Expansion in India: Lockheed Martin and Tata Advanced Systems Limited (TASL) announced a significant collaboration to enhance the C-130J Super Hercules program in India.

IMF Upgrades India’s FY24-25 GDP Forecast to 7%: The International Monetary Fund (IMF) has revised its forecast for India’s GDP growth in FY2024-25 upward to 7%, a 20 basis point increase from the previous estimate of 6.8%. This revision reflects the IMF’s updated World Economic Outlook report, driven by enhanced consumption prospects, particularly in rural […]

India Surpasses China in MSCI Emerging Markets Index: India has overtaken China in the Morgan Stanley Capital International (MSCI) Emerging Markets Investable Market Index (EM IMI) with a weightage of 22.27%, surpassing China’s 21.58%. This shift reflects India’s strong market performance and favorable macroeconomic conditions, contrasted with China’s economic challenges.

ADNOC and ExxonMobil Join Forces to Develop World’s Largest Low-Carbon Hydrogen Facility: Abu Dhabi National Oil Company (ADNOC) and ExxonMobil have announced a landmark partnership to develop the world’s largest low-carbon hydrogen facility. This ambitious project, set to be located in Baytown, Texas, marks a significant milestone in the race to lead sustainable energy production […]