Page-19 of Economy & Banking Current Affairs

India’s Foreign Exchange Reserves 2024 – Update

November 23, 2024

India’s foreign exchange reserves are crucial for economic stability. On November 15, they stood at $657.89 billion which includes $65.75 billion in gold. The reserves had previously reached $675.65 billion on November 8. A decline of $17.7 billion occurred due ..

Month: 

Category: 

India and Maldives Enhance Currency Cooperation

November 23, 2024

The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have recently signed a very important agreement, which aims to facilitate transactions using local currencies. The Indian Rupee (INR) and the Maldivian Rufiyaa (MVR) will now be used ..

Month: 

Category: 

Supreme Court Rules on Telecom Tax Credits

November 22, 2024

The Supreme Court of India recently made a landmark ruling, which allows telecom companies to claim tax credits for expenses related to mobile towers and pre-fabricated buildings (PFBs). The ruling clarifies the classification of these structures under tax regulations. Context ..

Month: 

Category: 

ASEAN-India Free Trade Agreement (AIFTA) Review

November 21, 2024

The ASEAN-India Free Trade Agreement (AIFTA) was initiated in 2010, which aimed to enhance trade in goods and services. After 15 years, a review is necessary to assess its effectiveness. India has experienced a growing trade deficit with ASEAN countries, ..

Month: 

Category: 

India-Australia Annual Summit 2024

November 21, 2024

Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese met during the G20 summit in Rio de Janeiro. They reviewed their Comprehensive Strategic Partnership as they approach its fifth anniversary in 2025 and discussed various areas of collaboration. Economic ..

Month: 

Category: 

GAIL Wins SAP ACE Award for Financial Innovation

November 20, 2024

GAIL (India) Limited has achieved notable recognition and the company has won the SAP ACE Award 2024 for Best Financial Transformation. This marks the second consecutive year of receiving this award. The accolade was presented to R K Jain, GAIL’s ..

Month: 

Category: 

Income Tax Campaign for Foreign Assets Awareness

November 20, 2024

The Income Tax Department has initiated a new campaign that targets taxpayers with high-value foreign income or assets, which aims to enhance compliance for the Assessment Year 2024-25. The Central Board of Direct Taxes (CBDT) is leading this effort. Campaign ..

Month: 

Category: 

India’s Exports Surge in October 2024

November 19, 2024

India’s export landscape experienced remarkable growth in October 2024 with the core group of exports rising by 27.7% compared to the previous year and this growth spanned various sectors reflecting a robust economic performance. Key Export Sectors Engineering goods led ..

Month: 

Category: