Page-23 of Economy & Banking Current Affairs

India Launches UPI Payment System Globally at Eiffel Tower

February 3, 2024

National Payments Corporation of India’s (NPCI) Unified Payment Interface (UPI) was formally launched at the Eiffel Tower in Paris on February 2, 2024. This marks an important step in taking UPI global. The launch coincided with India’s Republic Day celebrations in ..

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RBI’s Digital Payments Index Rises in September 2023

February 2, 2024

Reserve Bank of India’s (RBI) Digital Payments Index, a measure of the extent of digitisation of payments across the country, increased to 418.77 in September 2023 from 395.57 in March 2023. “The RBI-DPI index has increased across all parameters and ..

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Cochin Shipyard Secures ₹500 Crore Hybrid Service Operation Vessel (SOV) Order

February 2, 2024

Public sector company Cochin Shipyard Limited (CSL) has bagged a prestigious international order from a European client for the construction of a hybrid service operation vessel (SOV) for offshore wind renewables market, with an option for a follow-on order. The ..

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RBI Suspends Paytm Payments Bank’s Core Services

February 2, 2024

Reserve Bank of India (RBI) has barred Paytm Payments Bank from onboarding new customers and offering services like digital wallets and UPI transactions from March 1, 2024. This effectively cripples most operations of the payments bank. As per the RBI ..

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Finance Ministry Highlights Key Economic Challenges

January 30, 2024

Ahead of the Interim Budget, the Finance Ministry laid out four key challenges facing India’s economy in the “The Indian Economy: A Review” Report. This comes as India aims to become a $7 trillion economy by 2030 over the next ..

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Focus Sectors for $1 Trillion Exports Target

January 29, 2024

India has identified 6 key sectors – electronics, engineering goods, textiles, marine & agriculture, toys and pharmaceuticals – that could help the country achieve almost 70% of its $1 trillion goods export target by fiscal year 2030. As per a ..

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Kerala’s Lawsuit Against Centre Seeks Relief from Borrowing Limits

January 26, 2024

The state of Kerala filed a lawsuit under Article 131 of the Indian Constitution in the Supreme Court challenging the Centre’s recent actions limiting states’ borrowing capacities. Kerala sought an injunction to prevent curtailment of its ability to borrow over ..

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India Surpasses Hong Kong As World’s Fourth Biggest Stock Market

January 23, 2024

India’s equity market capitalization has surpassed Hong Kong’s for the first time, making it the fourth largest globally. Favorable domestic growth dynamics combined with global capital inflows have powered India’s market rally. Crossing $4 trillion milestone As of January 23th, ..

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