Category: Economics Current Affairs

Union Cabinet Approves Major Airport Projects in West Bengal and Bihar: The Union Cabinet has greenlit significant airport infrastructure projects in West Bengal and Bihar, with a total investment of approximately ₹2,962 crore. These developments are set to enhance air travel facilities and address growing passenger demand in these regions.

Windfall Tax On Petroleum Crude Oil: India has reduced the windfall tax on petroleum crude oil to Rs 2,100 per metric tonne, effective August 17, down from Rs 4,600 per tonne. This adjustment follows a previous reduction of 34.2 percent to Rs 4,600 on July 31.

Decline in FDI in India’s Food Processing Sector in 2023-24: Foreign direct investment (FDI) in India’s food processing sector experienced a significant decline of 30% in the fiscal year 2023-24, totaling Rs 5,037.06 crore, down from Rs 7,194.13 crore in 2022-23.

RBI Approves Salee Sukumaran Nair as MD & CEO of Tamilnad Mercantile Bank: The Reserve Bank of India (RBI) has approved the appointment of Salee Sukumaran Nair as the Managing Director and Chief Executive Officer of Tamilnad Mercantile Bank (TMB) for a three-year term.

Urban Unemployment Rate Declines to 6.6% in Q1 FY25: India’s urban unemployment rate slightly decreased to 6.6% in Q1 FY25 from 6.7% in Q4 FY24, as per the Periodic Labour Force Survey (PLFS) data released by the National Statistical Office (NSO).

L&T Finance Achieves NBFC-ICC Status from RBI: L&T Finance Ltd. has transitioned from an NBFC-Core Investment Company (NBFC-CIC) to a Non-Banking Financial Company (Investment and Credit Company) (NBFC-ICC) following the merger of its wholly-owned subsidiaries, including L&T Finance, L&T Infra Credit Ltd., and L&T Mutual Fund Trustee Ltd.

RBL Bank Announces Vijay Fixed Deposits to Honor 78th Independence Day: RBL Bank has introduced a special “Vijay Fixed Deposits” scheme to commemorate India’s 78th Independence Day. The bank offers a 500-day fixed deposit tenor with highly competitive interest rates, providing an opportunity for customers to grow their savings while paying tribute to the nation’s […]

NHA And MUHS Sign MoU To Drive Digital Health Education: In a significant step towards driving Digital Health education across India, a Memorandum of Understanding (MoU) was signed between the National Health Authority (NHA) and Maharashtra University of Health Sciences (MUHS) in the presence of Union Health Minister, Shri J P Nadda, on August 13

Rana Ashutosh Kumar Singh Assumes Role as MD at SBI: Rana Ashutosh Kumar Singh has been appointed as the Managing Director (MD) of the State Bank of India (SBI), overseeing the Risk Compliance and Stressed Assets Resolution Group (SARG) departments.

MoU Signed Between Ministry of MSME And SBA, Government of USA: Ministry of Micro, Small and Medium Enterprises, MSME has signed a Memorandum of Understanding, MoU with the Small Business Administration (SBA) of the Government of the United States of America to promote Cooperation on Small and Medium-size Enterprises (SMEs)