Category: Economics Current Affairs

Bengaluru Unveils First Digital Population Clock at ISEC: Bengaluru marked a milestone with the inauguration of its first digital population clock at the Institute for Social and Economic Change (ISEC). This innovative installation will display real-time population estimates for both Karnataka and the entire country, providing citizens, researchers, and policymakers with up-to-date demographic data.

Global collaborative platform for financial institutions and FinTechs : SBI State Bank of India (SBI), in partnership with APIX—a global collaborative platform for financial institutions and FinTechs—has launched the ‘SBI Innovation Hub’ at the Singapore Fintech Festival from November 6-8, 2024. The hub provides a dedicated space for global FinTechs, startups, and innovators to create […]

Reserve Bank of India (RBI) has expanded the list of Government securities available for non-resident investment under the Fully Accessible Route: The Reserve Bank of India (RBI) has expanded the list of Government securities available for non-resident investment under the Fully Accessible Route (FAR) by designating 10-year Sovereign Green Bonds (SGrBs) as ‘specified securities.’ These […]

Deutsche Bank has injected ₹5,113 crore: Deutsche Bank has injected ₹5,113 crore into its Indian operations, marking its largest capital infusion into the country in recent years. This move, aimed at funding growth and expanding services across corporate, investment, and private banking, demonstrates the bank’s long-term commitment to India.

Increase in rural wages: The Indian economy and farm sector have grown at an average annual rate of 4.6% and 4.2% respectively from 2019-20 to 2023-24 but it has not led to an increase in rural wages. Nominal Wages: From April 2019 to August 2024, rural wages grew at an average annual rate of 5.2% […]

Equity infusion of ₹10,700 crore: The Union Cabinet approved an equity infusion of ₹10,700 crore for the Food Corporation of India (FCI) on Wednesday. This move is expected to reduce FCI’s dependency on high-interest debt for funding its large-scale food distribution efforts. It aligns with the government’s ongoing strategy to enhance food security and minimize […]

Centralised Asset Liquidation Auction Platform: The Insolvency and Bankruptcy Board of India (IBBI) and Indian Banks’ Association (IBA) plans to create a centralised platform for auctioning of assets under the Insolvency and Bankruptcy Code (IBC).Auction of assets will be conducted via the eBKray platform which has been operating auctions for mortgaged assets under the SARFAESI […]

IDFC FIRST Bank Launches Real-Time International Money Transfer Tracking: IDFC FIRST Bank, in partnership with Swift, has introduced a groundbreaking real-time tracking service for international money transfers. Available on its award-winning mobile app and internet banking platforms, this service positions IDFC FIRST Bank as the first Indian bank to offer end-to-end traceability for cross-border payments. […]

Union Minister Dr. Virendra Kumar Launches ‘Shilp Samagam Mela 2024’ and Unveils ‘TULIP’ Platform: The Union Ministry of Social Justice and Empowerment inaugurated the ‘Shilp Samagam Mela 2024’ with a grand opening at Dilli Haat, New Delhi. Organized by key Corporations under the Ministry, including the National Scheduled Castes Finance and Development Corporation (NSFDC), National […]

SBI Mutual Fund : In News SBI Mutual Fund (SBI MF) has made headlines by becoming the first fund house in India to surpass the ₹10 lakh crore mark in assets under management (AUM), reaching ₹10.99 lakh crore in the September quarter, a notable increase from ₹9.88 lakh crore in June. This achievement places SBI […]