Page-2 of Economy & Banking Current Affairs

Fiscal Responsibility and Budget Management (FRBM) Act, 2003

December 21, 2024

The Fiscal Responsibility and Budget Management (FRBM) Act, enacted in 2003, aims to maintain fiscal discipline in India, introduced by Finance Minister Yashwant Sinha in 2000 and became effective on July 5, 2004. The Act mandates the government to manage ..

Month: 

Category: 

India Tops Global Remittances for 2024

December 20, 2024

India continues to lead the world in remittances, with non-resident Indians (NRIs) sending home a remarkable $129 billion in 2024, marking an increase from the previous year’s remittance of Rs 8.95 lakh crore. The World Bank report confirms India’s position ..

Month: 

Category: 

World Bank Approves $2 billion for Ukraine, Including US Loan Funds

December 20, 2024

The World Bank has recently approved a substantial funding package aimed at boosting Ukraine’s financial and economic stability. This initiative, announced on December 18, 2024, includes a combination of grants and loans, reflecting international support for Ukraine amidst ongoing challenges. ..

Month: 

Category: 

Direct Tax Collection Surges in 2024-25

December 19, 2024

The Income Tax Department has reported impressive growth in direct tax collections for the financial year 2024-25, surpassing 19.21 lakh crore rupees, marking a substantial 20.32% increase compared to the previous year. This growth reflects a strong economic recovery and ..

Month: 

Category: 

India’s Alternative Assets Market Set to Reach $2 Trillion by 2034

December 19, 2024

The Alternative Assets market in India is currently valued at $400 billion and is projected to expand to $2 trillion over the next decade. The growth is attributed to sophisticated investors seeking better portfolio diversification and higher returns. Regulatory changes ..

Month: 

Category: 

Delhi and Bengaluru Lead in India’s Crypto Investment

December 19, 2024

Delhi and Bengaluru emerged as players in India’s cryptocurrency landscape, and contributed notably to the national investment portfolio, especially in the Layer-1 category. According to a recent report, Delhi and Bengaluru accounted for 30.5% of India’s overall crypto investments, showcasing ..

Month: 

Category: 

Surge in Indian Capital Markets Post-Covid-19

December 19, 2024

The Indian capital markets have experienced remarkable growth since the Covid-19 pandemic and retail investor participation has transformed the landscape of investment in the country. This trend reflects a broader shift towards financial literacy and investment awareness among the populace. ..

Month: 

Category: 

India Becomes Third Largest Smartphone Exporter

December 18, 2024

India has made strides in the global smartphone market and has risen from 23rd to 3rd place in smartphone exports since 2019. In November 2024, India’s smartphone exports exceeded 20,000 crore rupees in a single month. This achievement has been ..

Month: 

Category: