Page-16 of Economy & Banking Current Affairs

India’s Economic Growth Forecast for 2024

December 12, 2024

The Reserve Bank of India (RBI) has recently revised its growth forecast for 2024-25 and estimate stands at 6.6%. In contrast, S&P Global maintains a slightly higher projection of 6.8%, marking differing perspectives on India’s economic trajectory. Current Economic Landscape ..

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Consumer Confidence Survey(CCS)

December 12, 2024

The Reserve Bank of India (RBI) conducted a survey, Consumer Confidence Survey, from November 2-11, 2024, indicating concerns about the economy, employment, income, and spending. Expectations for rising inflation further contribute to this sentiment. Survey Overview The RBI’s survey gathered ..

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RBI Releases Handbook of Statistics on Indian States 2023-24

December 11, 2024

The Reserve Bank of India has published the latest edition of the Handbook of Statistics on Indian States for 2023-24, which presents crucial data on the regional economies of India. It includes vital information about demographics, health, and economic indicators. ..

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India Surpasses $1 Trillion in FDI

December 10, 2024

India has achieved the milestone in foreign direct investment (FDI), with inflows surpassing $1 trillion between April 2000 and September 2024. This achievement puts stress on India’s status as a secure investment destination. FDI Inflows Overview FDI inflows totaled $1,033.40 ..

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RBI Launches Podcast Series for Public Communication

December 9, 2024

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced a new podcast series to enhance public communication. This initiative aims to improve financial literacy and will provide clear vital information about monetary policy. Key Interest Rate and CRR Decisions ..

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World Bank Pledges $100 Billion to Support Poorest Nations

December 9, 2024

Donor countries pledged $100 billion to the World Bank’s International Development Association (IDA), which targets 78 low-income nations. It aims to provide grants and low-interest loans and the new total exceeds the previous $93 billion from 2021. Funding Breakdown Countries ..

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India’s Forex Reserves Show Significant Increase

December 7, 2024

India’s foreign exchange reserves have experienced a notable rise. on November 09, the reserves reached 658.09 billion dollars, an increase of 1.51 billion dollars. This marks the first rise in nine weeks after the reserves had previously fallen to a ..

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Insurance Amendment Bill

December 7, 2024

A parliamentary committee has endorsed reforms in the insurance sector, aiming to enhance the industry’s efficiency and competitiveness. The Insurance Amendment Bill proposes several key changes. Composite Licenses for Insurers The committee supports allowing composite licenses. Insurers would be able ..

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What is MuleHunter.AI?

December 7, 2024

The Reserve Bank of India’s innovation unit, RBIH, has introduced MuleHunter.AI, which aims to combat financial fraud effectively and specifically targets mule accounts used in illegal activities. Recent statistics show that online financial frauds account for 67.8% of cybercrime complaints, ..

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RBI Increases UPI Lite Wallet and Transaction Limits

December 6, 2024

The Reserve Bank of India (RBI) has raised the UPI Lite wallet limit from ₹2,000 to ₹5,000, which aims to encourage digital transactions. The new rules were announced recently and are effective immediately. New Wallet Limit The wallet limit for ..

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