Page-2 of Economy & Banking Current Affairs

Diamond Imprest Authorization Scheme

January 22, 2025

On April 1, 2025, India will implement the Diamond Imprest Authorization (DIA) Scheme. The scheme is a strategic response to global beneficiation policies that require diamond manufacturers to establish local processing facilities. It will take effect from April 1, 2025. ..

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European Banks and NZBA

January 21, 2025

Recent developments have seen European banks reassessing their membership in the Net Zero Banking Alliance (NZBA). This follows a wave of withdrawals by major US banks, leading to concerns over climate collaboration and potential legal ramifications. Executives are now contemplating ..

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India’s Economic Growth Surge

January 21, 2025

India is poised to remain the fastest-growing major economy, with a projected growth rate of 6.7% for fiscal years 2026 and 2027. This growth outstrips the global average of 2.7% and reflects the country’s robust services sector and revitalised manufacturing ..

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India’s GDP Growth Projections

January 20, 2025

Recent estimates indicate a real GDP growth of 6.4% for India in the fiscal year 2024-25, falling short of earlier predictions. This slowdown has raised concerns about the government’s capital expenditure and its impact on future economic performance. The projections ..

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Rupee’s Real Effective Exchange Rate (REER)

January 20, 2025

Recently, the Real Effective Exchange Rate (REER) of the Indian rupee decreased to 107.20 from a peak of 108.14 in November. This change reflects the rupee’s ongoing volatility amidst global economic shifts, including foreign portfolio investor outflows and fluctuating US ..

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Interest Equalisation Scheme Extension

January 18, 2025

The Indian Commerce Ministry is advocating for a further extension of the Interest Equalisation Scheme (IES) in the upcoming Budget. This initiative aims to boost export activities amid ongoing global economic challenges. The scheme, which provides financial support to exporters, ..

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RINL Revival Package Announced

January 18, 2025

Recently, the Government of India announced revival package for Rashtriya Ispat Nigam Ltd (RINL), a state-owned steel manufacturer facing severe financial difficulties. The ₹11,440 crore package aims to restore the company’s operations and safeguard thousands of jobs amid political pressure ..

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India in QS World Future Skills Index

January 17, 2025

Recently, India has been recognised as the second most prepared job market globally, following the United States, according to the QS World Future Skills Index. This inaugural index evaluates countries based on their readiness for future job demands, particularly in ..

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