Page-27 of Economy & Banking Current Affairs

Additional Borrowing for National Pension System (NPS) Contribution

December 20, 2023

The Department of Expenditure, under the Ministry of Finance, has granted 22 states the approval for extra borrowing of Rs 60,876.80 crore for their contribution to the National Pension System (NPS) during the fiscal year 2023-24. This additional borrowing is ..

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Parliament Advances Key Tax-Related Bills

December 20, 2023

The Lok Sabha recently approved two vital indirect tax-related bills, addressing various aspects of the tax framework. The Central Goods and Services Tax (Second Amendment) Bill, 2023, and the Provisional Collection of Taxes Bill, 2023, each serve distinct purposes in ..

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India Leads Global Remittances

December 19, 2023

According to the latest report from the World Bank, India is set to become the largest recipient of remittances, with inflows expected to increase by 12.4% to $125 billion in 2023, constituting 3.4% of the country’s gross domestic product. Drivers ..

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World Bank’s Latest International Debt Report

December 15, 2023

Developing countries faced an unprecedented financial challenge in 2022, as they spent a staggering $443.5 billion to service their external public and publicly guaranteed debt. The World Bank’s latest International Debt Report reveals that these costs had far-reaching consequences, diverting ..

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NCRB Data on Farmer Suicides

December 5, 2023

The year 2022 witnessed a distressing surge in farmer suicides across India, according to the latest data from the National Crime Records Bureau (NCRB), released on December 4, 2023. The grim statistics reveal a 3.7% increase in such cases, with ..

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Navigating the Currency Demand Paradox: RBI Paper Emphasizes Cybersecurity and Customer Protection

November 29, 2023

In a recent paper titled ‘Cash versus Digital Payment Transactions in India: Decoding the Currency Demand Paradox,’ the Reserve Bank highlighted the importance of cybersecurity, customer protection, and cost-effectiveness in sustaining the surge in digital payments catalyzed by the Covid-19 ..

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Unprecedented Pest Infestation Devastates Paddy Crops in Assam

November 23, 2023

Continuous warm temperatures in Assam have been identified as a key factor behind a severe pest infestation that has wreaked havoc on approximately 28,000 hectares of paddy crops across at least 15 districts. The affected crops, on the verge of ..

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ICRA Forecasts Sequential Moderation in India’s GDP Growth to 7% in Q2 FY2024

November 22, 2023

ICRA, the rating agency, predicts a sequential moderation in India’s GDP growth to 7% in the July-September 2023 quarter, down from 7.8% in Q1 FY2024. Despite the moderation, the second-quarter expansion is expected to surpass the Monetary Policy Committee’s (MPC) ..

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