Category: Economics Current Affairs

Coca-Cola has sold a 40% stake in Hindustan Coca-Cola Holdings (HCCH) to Jubilant Bhartia Group: Coca-Cola has announced a strategic partnership with Jubilant Bhartia Group, selling a 40% stake in Hindustan Coca-Cola Holdings (HCCH) for ₹12,500 crore. This move is in line with Coca-Cola’s global refranchising strategy and strengthens its presence in India, its fifth-largest […]

The Asian Development Bank (ADB) has revised India’s GDP growth forecast: The Asian Development Bank (ADB) has downgraded India’s GDP growth forecast for FY25 to 6.5% from 7% and for FY26 to 7% from 7.2%, citing weaker-than-expected industrial output, subdued public capital spending, and tight monetary policies.The slowdown in Q2FY25, where GDP growth fell to […]

Consumer Confidence Survey: According to the latest Consumer Confidence Survey of the Reserve Bank of India (RBI)Indian consumers’ confidence about general economic situation, employment scenario, their income and spending have weakened. It is a survey that indicates how optimistic or pessimistic consumers are regarding their expected financial situation. If the consumers are optimistic, spending will […]

Cesses and Surcharges: Arvind Panagariya, Chairman, 16th Finance Commission, recently termed the grievance of States regarding the Centre’s increasing reliance on cesses and surcharges as a “complicated issue.”Cess and surcharges are levied by the Central government for the purposes of the Union under Article 271 of the Constitution of India.

Telugu Woman Banker Honored as Rising Star in Banking 2024: Bharati Kolli, a 43-year-old woman from Vizianagaram district in Andhra Pradesh, has been recognized as one of the Rising Star Women Leaders of Banking for 2024 by the renowned women’s group, Women We Admire. Bharati’s remarkable contribution to the banking sector, particularly in data management, […]

Retail Inflation Eases for Farm and Rural Workers in October 2024: Retail inflation for agricultural and rural workers showed a decline in October 2024, easing to 5.96% for farm workers and 6% for rural labourers, down from 6.36% and 6.39% in September 2024. This shift represents a positive trend from the inflation rates of October […]

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 […]