Current Affairs - Current Economic Affairs

India’s GDP Growth Rate Falls to 6.4%

Fitch has revised its 2025 GDP forecast for India from 6.6% to 6.4%, a decrease of 10 basis points. This is the most recent global economic news.While this may

Boosting Opportunities in the Gig Economy

India is witnessing a quiet revolution in how employment is created. The announcement of 12 lakh jobs in India by 2025 is a huge step toward redefining the gig

Nirmala Sitharaman Presents the 2024-25 Economic Survey – An In-Depth Analysis

The Economic Survey 2024-25 emphasizes India's consistent economic growth, forecasting a 6.4% GDP increase in FY25. Key highlights include contr

MoMSME Unveils TEAM Initiative to Enhance Digital Presence of MSMEs in India

The Ministry of Micro, Small, and Medium Enterprises (MoMSME) has introduced the MSME Trade Enablement and Marketing (TEAM) Initiative, a pioneering

Union Budget 2025: Understanding the Concept of 'Bahi Khata'

The ‘bahi khata’ is a traditional Indian ledger employed for accounting and maintaining records. It is typically a bound book, often cov

CRED Introduces e₹ Wallet, Boosting India’s Digital Currency Adoption

CRED has become the first fintech platform to incorporate India’s e₹ wallet, a digital currency supported by the RBI. In partnership with YE

NPCI Introduces Tighter UPI Regulations Starting February 1, 2025

Starting February 1, 2025, NPCI has enforced a new rule requiring all UPI transaction IDs to be strictly alphanumeric, disallowing special character

SEBI Launches iSPOT Portal to Simplify Reporting of Technical Issues

SEBI has launched the Integrated SEBI Portal for Technical Glitches (iSPOT), a unified platform designed to simplify the process of reporting techni

CheQ Launches Wisor: India’s First AI-Driven Credit Card Advisor

CheQ has introduced Wisor, India’s first AI-driven credit card advisor, created to help users manage their credit cards more effectively. Wiso

RBI Approves NUCFDC to Strengthen Urban Cooperative Banks

The Reserve Bank of India (RBI) has given its approval for the creation of the National Urban Cooperative Finance and Development Corporation (NUCFD

P. Suriaraj Named Executive Director of Dhanlaxmi Bank

P. Suriaraj has assumed the role of Executive Director at Dhanlaxmi Bank, bringing with him extensive experience from his prior position at Tamilnad

Banke Bihari Temple Obtains FCRA License to Receive Foreign Donations

The Ministry of Home Affairs (MHA) has granted the FCRA license to the Banke Bihari Temple in Vrindavan, permitting it to accept foreign donations.

India’s First Mini Budget: A Historical Insight

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget on February 1, 2025, marking her eighth consecutive presentation, it is

Tata Tops India, Apple Leads Globally in 2025 Brand Rankings

The 2025 Brand Finance Global 500 report ranks the Tata Group as India's top brand, with a record valuation of $31.6 billion, reflecting a 10% i

Skydo Gets RBI Approval as Cross-Border Payment Aggregator

Skydo Technologies has obtained in-principle approval from the RBI to function as a Cross-Border Payment Aggregator. This approval allows the compan

FIRST EA₹N RuPay Credit Card Debuts with IDFC FIRST Bank

IDFC FIRST Bank, in partnership with RuPay, has introduced the FIRST EA₹N RuPay Credit Card. This secured card offers the advantages of a fixed de

Sebi Introduces New When-Listed Trading Platform: A Breakdown

The Securities and Exchange Board of India (Sebi) is introducing a "when-listed" trading platform aimed at controlling the trading of shar

RBI's Strategic Liquidity Injection Aims to Stabilize Money Markets

The RBI's injection of ₹76,000 crore via Variable Rate Repo (VRR) auctions is designed to alleviate liquidity strains and stabilize short-term

Bajaj Finance and Bharti Airtel Launch Digital Finance Platform

Bharti Airtel and Bajaj Finance have joined forces to develop one of India’s most extensive digital platforms for financial services. This collaborati

RBI Forms New Advisory Committee for Bank Licensing

The Reserve Bank of India (RBI) has set up a Standing External Advisory Committee (SEAC), led by former Deputy Governor M. K. Jain, to assess applic

Mudra Loan Disbursements Reach Record ₹3.39 Lakh Crore in Q3 FY25

In Q3 FY25, the Pradhan Mantri Mudra Yojana (PMMY) achieved a record disbursal of ₹3.39 lakh crore, fueled by higher loan limits, the launch of th

RBI Instructs Banks to Adopt ‘1600xx’ Number Series for Transactional Calls

In a bid to curb financial fraud, the RBI has required banks to utilize the '1600xx' number series for transactional calls and '140xx

Moody’s Revises Forecast, Projects 7% Growth for Indian Economy in FY25

Moody's has revised India's economic growth forecast for the fiscal year 2024-2025 to 7%, a decrease from the 8.2% growth achieved in the pr

RBI Approves HSBC India's Expansion with 20 New Branches

HSBC India has secured RBI approval to launch 20 new branches in key cities, marking a major expansion after ten years. This strategic move highligh

Punjab National Bank and Indian Bank Appoint New Managing Directors and CEOs

The Indian government has appointed Ashok Chandra as the Managing Director and CEO of Punjab National Bank, and Binod Kumar as the Managing Director

India's Projected Economic Expansion

According to the World Bank, India is expected to grow at 6.7% in FY26 and FY27, continuing to be the fastest-growing major economy. This strong gro

Piyush Goyal Unveils PRABHAAV Factbook and Startup Challenge

India marked the 9th Foundation Day of Startup India in New Delhi, highlighting its advancement as a global leader in innovation. Union Minister Shr

FICCI Updates India’s Economic Growth Forecast for FY 2024-25

FICCI has adjusted India’s GDP growth projection to 6.4% for FY 2024-25, lowering it from previous estimates due to global uncertainties and d

M. Rajeshwar Rao Appointed Head of RBI’s Monetary Policy Department

Deputy Governor M. Rajeshwar Rao has taken charge of the RBI's Monetary Policy and Economic Research Departments, succeeding Michael Patra, whos

Wholesale Price Inflation Rises to 2.37% in December 2024

India's wholesale price inflation rose to 2.37% in December, up from 1.89% in November, mainly due to higher costs in manufactured goods, non-fo

Centre Allocates ₹1.73 Trillion to States to Enhance Capital Expenditure

The Indian government has disbursed ₹1.73 trillion in tax devolution to states, almost doubling the ₹89,086 crore allocated in December. Th

India's industrial production rises by 5.2% in November, marking the highest growth since May.

India's factory output, reflected in the Index of Industrial Production (IIP), grew by 5.2% in November 2024, reaching its highest level in

Rupee Reaches All-Time Low of ₹86 Against the US Dollar

On January 10, 2025, the Indian rupee dropped to a record low of ₹86 against the US dollar, ending 14 paise lower. This decline is due to the

E-Way Bills Soar in December, Reaching the Second-Highest Level in Two Years

E-way bill generation in December 2024 hit 112 million, marking a 17.6% year-on-year rise and the second-highest in two years. This increase si

India's Economic Growth Outlook

The UN's "World Economic Situation and Prospects 2025" report predicts India's economy will grow by 6.6% in 2025 and 6.7% in

Bank of Baroda's Economic Growth Forecast for India in FY2025-26

India’s Economy Poised for 6.8% Growth in FY2025-26: Bank of Baroda India's economy is projected to grow at 6.8% in FY2025-26,

Indian Microfinance Sector: 21-Fold Growth Over 12 Years

India’s microfinance sector has seen remarkable growth over the past 12 years, expanding from ₹17,264 crore in March 2012 to ₹3.93 lakh cr

A Decade of NITI Aayog: Driving India's Transformation

NITI Aayog, formed on January 1, 2015, succeeded the Planning Commission to cater to the demands of a market-oriented economy. Announced by Prime Mi

The Snacc app from swiggy

Beginning in Bengaluru, Swiggy has introduced "Snacc," a stand-alone app that provides meals, snacks, and drinks delivered in 15 minutes.

The Equal and OneMoney Advisory Board will be led by Justice B.N. Srikrishna.

Retired Supreme Court Justice B.N. Srikrishna has been appointed Chairman of the Advisory Board for Equal, an identity verification firm, and its in

ICICI Lombard and PhonePe Introduce Maha Kumbh Mela Insurance

In order to provide travelers attending the Maha Kumbh Mela with reasonably priced insurance plans that cover medical costs, personal accidents, and

Jharkhand Chief Minister's Maiya Samman Scheme

Launched in August 2024 by Chief Minister Hemant Soren, the Jharkhand Mukhyamantri Maiya Samman Yojana is a financial assistance program aimed at em

Suzuki’s Investment in NDDB’s Bio-Gas Venture

Suzuki Motor Corporation has decided to acquire a 26% stake in NDDB Mirda Ltd, a bio-gas initiative developed by the National Dairy Development

BharatPe to Sell 25% Stake in Unity Small Finance Bank

BharatPe, a leading fintech player in India, has announced plans to sell 25% of its 49% stake in Unity Small Finance Bank, with an estimated ta

RBI Approves Merger of National and Cosmos Co-operative Banks

The RBI has approved the merger of Bangalore-based National Co-operative Bank with Cosmos Co-operative Bank of Maharashtra, effective

Recap of 2024: Wealthiest Chief Ministers of India

This overview of India’s richest and least wealthy chief ministers offers insight into the financial diversity that exists at the highest

RBI Permits UPI Payments Through Third-Party Apps for PPI Holders

The Reserve Bank of India (RBI) has approved full-KYC Prepaid Payment Instruments (PPIs) holders to make and receive UPI payments through third

Sanjay Malhotra: India's New RBI Governor Takes Charge

Sanjay Malhotra, India's new RBI Governor, has a 33-year administrative career and extensive experience across various sectors. He has held

Banking Laws (Amendment) Bill 2024: Key Reforms Unveiled

Banking Laws Amendment Bill passed in Lok Sabha. Now, Bank account holders can now nominate up to four individuals for their accounts, with two

Parliament Session: Banking, Rail and Infrastructure Reforms

The Indian Parliament's winter session, from November 25 to December 20, 2024, will introduce several significant legislative proposals acr

India's 49th Rank in Network Readiness Index 2024

India has improved its ranking in the NRI 2024, moving from 60th to 49th place across 133 economies. The country ranks 2nd among lower-middle-i

India-Maldives: Local Currencies Boost Economic Ties

India and the Maldives have signed a Memorandum of Understanding (MoU) to promote bilateral financial interactions using local currencies. The

India's Export Surge: Economic Trends in October 2024

India's October 2024 trade data showed a 17.26% increase in merchandise exports to $39.2 billion, driven by pre-Christmas inventory buildup

SBI's $1.25 Billion Loan: India's Largest Loan of 2024

The Indian financial sector has secured a $1.25 billion loan from Gujarat International Finance Tec-City, marking the first major dollar loan f

RBI Unveils New Framework for FPI to FDI Conversion

The Reserve Bank of India (RBI) has introduced a new framework for Foreign Direct Investment (FDI) conversion for Foreign Private Institutions

RBI New KYC Guidelines: Streamlining Financial Security 2024

The RBI has announced updates to its Know Your Customer (KYC) Master Directions, effective November 6, 2024. These changes align with Preventio

Transforming FCI: Government's ₹10,700 Crore Equity Boost

The Cabinet Committee on Economic Affairs (CCEA) has approved an equity infusion of ₹10,700 crore for the Food Corporation of India (FCI). Es

SEBI's New Framework: Major Reforms in Securitisation Market

SEBI has introduced major reforms in the securitisation market, including investment thresholds, participation rules, risk management, liquidit

RBI's Golden Strategy: Major Shift in Reserve Holdings

India's domestic gold holdings increased to 510.46 metric tonnes from 408 metric tonnes between March-September 2024, with 60% of total gol

SBI Crowned Best Bank in India 2024: A Legacy of Excellence

SBI has been awarded 'Best Bank in India 2024' by Global Finance Magazine, recognizing its exceptional services and financial inclusion

India's FY25 GDP Growth to 7.0-7.2%: IMF & Deloitte Outlook

India's growth forecast is 7% for FY25 and 6.5% for FY26, with Deloitte India predicting 7.0-7.2% growth. The IMF expects global headline i

Sitharaman's Vision: Indian Economy Evolution and Challenges

India's Finance Minister, Nirmala Sitharaman, identifies employability as the country's biggest challenge, focusing on emerging technol

Hong Kong Reclaims Top Spot in Global Economic Freedom Index

Hong Kong has regained the top position in Fraser Institute's 2024 Economic Freedom Report, with Singapore dropping to second place. Wherea

Government Announces Significant MSP Increase for Six Crops

The Indian government has announced a significant increase in the Minimum Support Price (MSP) for winter crops, with wheat MSP rising by ₹150

Global Hunger Index (GHI) 2024: India's Hunger Challenge

India ranked 105th out of 127 countries in the Global Hunger Index 2024, with a score of 27.3. India's score is based on four key indicator

HAL Joins Maharatna Elite: Boosting India's Aerospace Sector

Hindustan Aeronautics Limited (HAL) has been elevated to Maharatna status, boosting India's aerospace sector. The upgrade, approved by Fina

Rural India's Financial Leap: NABARD Reveals 57.6% Progress

The NABARD Survey shows that rural India has seen significant financial progress. The average monthly income of rural households increased by 5

RBI Boosts UPI: Higher Limits for Digital Transactions

The Reserve Bank of India (RBI) has increased the limits for UPI transactions, including UPI 123Pay, which enables digital payments for 400 mil

RBI New KYC Guidelines: Streamlining Financial Security 2024

The RBI has announced updates to its Know Your Customer (KYC) Master Directions, effective November 6, 2024. These changes align with Preventio

India's Agriculture Schemes: PM-RKVY and KY Unveiled

The Union Cabinet has approved the rationalization of Centrally Sponsored Schemes (CSS) under the Ministry of Agriculture and Farmer's Welf

India's Forex Reserves Surge Past $700 Billion Milestone

India's foreign exchange reserves have reached $704.89 billion as of September 27, 2024, marking a significant increase of $12.58 billion i

Kerala Tops in Urban Governance Index (UGI) 2024

Kerala has secured the top position in the Urban Governance Index (UGI) 2024, with an overall score of 59.31%. This improvement is attributed t

India becomes third-largest producer and consumer of ethanol

India has become the world's third-largest ethanol producer and consumer, thanks to significant government policy changes. The Ethanol Blen

Ayodhya Leads UP's Tourism Surge: 11 Crore Visitors in 2024

Ayodhya has become the top tourist attraction in Uttar Pradesh, with 11 crore visitors in the first six months, surpassing traditional favorite

SBI's Asha Scholarship Program: Empowering 10,000 Students

SBI Foundation has launched the Asha Scholarship Program, aiming to support 10,000 meritorious students from underprivileged backgrounds nation

World Bank raised India's FY25 GDP growth forecast to 7%

The World Bank has revised India's FY25 GDP growth forecast to 7% from 6.6%, citing strong performance in public infrastructure investment,

Hurun India Rich List 2024 Highlights: India's Wealth Surge

The 2024 Hurun India Rich List has revealed a significant increase in wealth, with 1,539 individuals now having a net worth of over ₹1,000 cr

Global Property Price Index 2024: Mumbai Ranks 2nd Delhi 3rd

Mumbai on 2nd rank leads the Prime Global Cities Index with a 13% annual price increase, while New Delhi on 3rd and Bangalore maintain 15th pos

Power Sector Boost: Three New Online Platforms Launched

Union Minister of Power Manohar Lal Khattar has launched three new online platforms to enhance the efficiency, transparency, and effectiveness

India holds the 8th rank in the Global Agricultural Exports

India remains the 8th largest agricultural exporter globally, but its exports decreased from $55 billion in 2022 to $51 billion in 2023. The to

India Rises to Top Ranks in Global Mineral Production

India achieved record-breaking mineral production in FY 2023-24, with iron ore and limestone accounting for 80% of total MCDR mineral productio

SEBI Launches SEVA: AI Chatbot for Investor Assistance

SEBI has introduced SEVA, an AI-powered chatbot, to assist investors in the securities market. The primary goal is to enhance investor experien

India's first integrated agriculture-export facility of JNPA

India's first integrated agri-export facility, JNPA, is set to be established at Jawaharlal Nehru Port in Mumbai. Proj

IREDA's Investment in Nepal Upper Karnali Hydropower Project

The Indian Renewable Energy Development Agency (IREDA) has announced a Rs 290 crore investment in Nepal's Upper Karnali Hydro-Electric Powe

ICAR's "One Scientist-One Product": Advancing Agriculture

The Indian Council of Agricultural Research (ICAR) is set to launch the 'One Scientist-One Product' program on July 16, 2024, in line w

Thane-Borivali Tunnel Project: Mumbai's Infrastructure Boost

The Thane-Borivali Tunnel Project, a Twin Tube Tunnel between Thane and Borivali, was approved on September 23, 2015, with an estimated cost of

NABARD Launches AgriSURE Fund to Boost Agri-Innovation

The National Bank for Agriculture and Rural Development (NABARD) has launched the AgriSURE Fund, a Category-II Alternative Investment Fund (AIF

India now ranks third in the world's domestic airline market

India's domestic aviation sector has seen a significant transformation in the past decade, becoming the world's third-largest domestic

India Ranks 63rd in Global Energy Transition Index- WEF 2024

The World Economic Forum (WEF) has released its 2024 Global Energy Transition Index, revealing India's improved position in the global ener

Global Gender Gap Report 2024: India Ranks 129th out of 146

The 2024 Global Gender Gap Report highlights the slow progress towards gender equality across 146 economies worldwide. The report reveals that

World Bank Report: Global Growth Stabilizes Amid Challenges

The World Bank's Global Economic Prospects report predicts steady global growth of 2.6% in 2024-2026, with a slight increase to 2.7% in 202

RBI Monetary Policy: 6.5% repo rate for 8th consecutive time

The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has kept the policy repo rate at 6.5% for the eighth consecutive time, signalin

India's GDP Growth Surges to 8.2% in Financial Year 2023-24

India's Gross Domestic Product (GDP) growth rate surged to 8.2% in the financial year 2023-24, surpassing earlier projections by the Reserv

Gautam Adani Reclaims the Title of Asia's Richest Person

Gautam Adani, chairman of the Adani Group, has reclaimed the title of Asia's richest person, surpassing Mukesh Ambani, the chairman of Reli

GAIL India Ltd. Unveiling India's First Green Hydrogen Plant

GAIL (India) Limited has completed the commissioning of its first green hydrogen plant in Vijaipur, Madhya Pradesh. The facility, which uses 10

Travel & Tourism Development Index 2024: India Ranks 39th

India has risen to 39th place on the World Economic Forum's Travel & Tourism Development Index (TTDI) 2024, indicating its efforts to r

Mukesh Ambani and Gautam Adani Join World's Super-Rich List

India's business tycoons Mukesh Ambani and Gautam Adani have secured their place among the world's wealthiest individuals, according to

IFC's $500 Million Loan to HDFC Bank for Women Microfinance

The International Finance Corporation (IFC) has extended a $500 million loan to HDFC Bank, India's largest private sector bank, to support

World Press Freedom Index 2024: India ranks 159 out of 180

The 2024 World Press Freedom Index by Reporters Without Borders (RSF) shows a decline in press freedom globally, with countries like Norway and

Global Report on Food Crises (GRFC) 2024

The Global Report on Food Crises (GRFC) is an annual report by the Food Security Information Network (FSIN), a collaboration between United Nat

Rakesh Mohan Joins World Bank's Elite Economic Advisory Panel

Rakesh Mohan, a former Deputy Governor of the Reserve Bank of India, has been appointed as a member of the World Bank's Economic Advisory P

Paradip Port Dethrones Kandla as India's Top Cargo Handler

Paradip Port Authority (PPA) has become India's highest cargo handling major port, surpassing Deendayal Port Authority in the 2023-24 finan

India Employment Report 2024: Unemployment Raised in India

The India Employment Report 2024, a joint effort by the International Labour Organization and the Institute for Human Development, reveals a ri

Mumbai Surpasses Beijing as Asia's Billionaire Capital

Mumbai has become Asia's new "billionaire epicenter," surpassing Beijing, according to the Hurun Global Rich List 2024. The city&

Sudarshan Setu, the longest cable-stayed bridge in India

The Sudarshan Setu, India's longest cable-stayed bridge, spans the Gulf of Khambhat, connecting Bharuch and Dahej and fostering economic gr

India GDP Growth by 8.4% in Q3; growth at 7.6% in FY24

India's National Statistical Office (NSO) has revised its GDP estimates, predicting a 7.6% growth in 2023-24, despite global instability. T

NRIs and PIOs- Definition, Global Data, Push & Pull Factors and Benefit

The Indian diaspora, comprising over 32 million NRIs and PIOs, is the largest in the world, contributing significantly to India's economy throug

The Indian economy is projected to grow around 7% with GDP Growth: RBI’s State of the Economy Report 2024

The Indian economy is projected to grow around 7% in 2024-25, making it the fastest-growing major economy globally. However, high and sticky inflati

World Economic Forum 2024 Report: Global Risks - Artificial Intelligence, Climate Change, Biodiversity Loss, Cost of Living etc.

The World Economic Forum's Global Risks Report 2024 predicts a precarious outlook for 2023-24, with AI-driven misinformation and disinforma

Understand Complex Budget Terminologies 2024 - Budget Mechanics and Components

The Union Budget 2024, due on February 1, 2024, is the last presentation before the 2024 general elections. It outlines the government'

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