Page-17 of Economy & Banking Current Affairs

Indians Permitted to Hedge Gold Price Risk Overseas Markets

April 16, 2024

Reserve Bank of India (RBI) has allowed Indian residents to hedge their gold price risk on recognised exchanges in the International Financial Services Centre (IFSC). Governor Shaktikanta Das announced the decision during the Monetary Policy Committee (MPC) meeting where the ..

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Government to Establish Cotton Test Labs in 6 States for Kasturi Cotton

April 15, 2024

The central government is planning to establish dedicated testing labs for high-grade Kasturi cotton in six states as part of a push to promote the Indian cotton brand globally. Currently, the certification of Kasturi cotton is conducted through a limited ..

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UPI Rule Change: Money in PPI Wallets Can Be Spent Using Any UPI

April 13, 2024

Unified Payments Interface (UPI) and wallets have become an integral part of our daily lives in recent years, thanks to the efforts of companies like Paytm, PhonePe, and Amazon. However, users have often complained about the limitation of using wallet ..

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 HDFC Bank opens branch in Lakshadweep’s Kavaratti Island

April 11, 2024

HDFC Bank has become the first private sector bank to establish a branch in Kavaratti Island, part of the Union Territory of Lakshadweep. The bank aims to improve banking infrastructure in the region by offering a variety of services, with ..

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SWAMIH Fund Helps in Completion of 28,000 Homes Since 2019

April 9, 2024

The Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, backed by the central government, has played a crucial role in the completion of over 28,000 homes since its inception in 2019. The fund, managed by SBICap Ventures Ltd, has ..

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Cochin Shipyard Signs Master Shipyard Repair Agreement with U.S. Navy

April 9, 2024

Cochin Shipyard Limited (CSL), a state-run shipbuilding facility in Kochi, has become the third Indian shipyard to enter into a Master Shipyard Repair Agreement (MRSA) with the U.S. Navy. This agreement enables CSL to repair U.S. Navy ships, following in ..

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Government Releases Guidelines for Green Hydrogen Use in Transport Sector

April 8, 2024

Recently, Indian Government has announced a Rs. 496 crore scheme (until 2025-26) to support pilot projects testing the viability of green hydrogen as a fuel for cars and heavy vehicles. The scheme, under the Ministry of New and Renewable Energy ..

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RBI Decides to Keep Policy Rates Unchanged

April 6, 2024

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), which met recently, decided to keep the repo rate – the main policy rate – unchanged at 6.5 per cent and maintain the policy stance of ‘withdrawal of ..

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