Page-3 of Economy & Banking Current Affairs

OPEC Fund Approves $1 Billion in Development Aid

December 18, 2024

The OPEC Fund for International Development has recently approved nearly $1 billion in funding to support various development projects worldwide. This decision was made during the 190th Governing Board meeting held in Vienna and aims to address critical areas such ..

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India’s Path to Economic Growth and Investment

December 18, 2024

India is currently navigating economic transitions. Recent discussions in Mumbai focused on strategies for enhancing financial mobilization. The workshop, hosted by NITI Aayog, the University of California, Berkeley, and IGIDR, brought together various stakeholders to address these challenges. India’s Economic ..

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Gujarat’s First Semiconductor Assembly Plant Opens

December 18, 2024

Suchi Semicon has inaugurated Gujarat’s first Outsourced Semiconductor Assembly and Testing (OSAT) plant in Surat, marking an advancement in India’s semiconductor manufacturing landscape. Plant Overview The OSAT plant covers an area of 30,000 square feet and provides essential services like ..

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RBI Tackles Unclaimed Deposits in India

December 16, 2024

The Reserve Bank of India (RBI) has initiated measures to address the growing issue of unclaimed deposits, arising from inactive savings or current accounts, as well as unclaimed term deposits. The RBI aims to safeguard depositor interests while facilitating the ..

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India’s Data Centre set for $100 Billion Investment by 2027

December 16, 2024

India’s data centre industry is transforming, with investments projected to surpass $100 billion by 2027. The sector has attracted approximately $60 billion in investment from 2019 to 2024, reflecting its appeal to global and local investors. Key Investment Destinations Maharashtra ..

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3rd India-UK Financial Markets Dialogue

December 14, 2024

Senior officials from India’s Ministry of Finance and the UK’s HM Treasury convened to discuss financial cooperation. This dialogue involved key regulatory bodies, including the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the ..

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Union Budget 2025: India’s Fiscal Deficit Challenges Ahead

December 14, 2024

India is currently grappling with hurdles in its efforts to reduce the fiscal deficit to 4.5% of GDP by the fiscal year 2025-26. which peaked at 9.5% of GDP during the pandemic, and has seen slow recovery. Analysts expressed skepticism ..

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Banking System Liquidity Tightens Ahead of Tax Payments

December 13, 2024

Liquidity in the banking system is tightening as mid-month payments for GST and advance taxes approach, which has led to increased demand for funds at the Reserve Bank of India’s (RBI) variable rate repo (VRR) auction. The recent VRR auction ..

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