Page-30 of Economy & Banking Current Affairs

Government to Divest 7% Stake in NLC India

March 8, 2024

The Government of India is set to offload a 7% stake in state-run lignite producer NLC India Ltd. through the offer-for-sale (OFS) route, which includes a green shoe option of 2%. The OFS is expected to rake in approximately ₹2,058 ..

Month: 

Category: 

RBI Directs Card Issuers to Provide Multiple Network Options 

March 7, 2024

In a significant move to promote customer choice and fair competition, the Reserve Bank of India (RBI) has issued directions to card issuers, instructing them not to enter into any arrangement or agreement with card networks that restrain them from ..

Month: 

Category: 

RBI Pushes for Rupee Payments in Oil Imports

March 6, 2024

 The Reserve Bank of India (RBI) has instructed India’s major state-owned refiners to press Persian Gulf oil suppliers to accept at least 10% of oil payments in rupees in the upcoming financial year. This move is aimed at promoting the ..

Month: 

Category: 

RBI Approves Interoperable Net Banking Payments for Merchants

March 5, 2024

The Reserve Bank of India (RBI) has given the nod for implementing an interoperable payment system for internet banking transactions. This move is expected to streamline the digital payments ecosystem in India, making it easier for customers to pay businesses ..

Month: 

Category: 

Moody’s Raises India’s GDP Growth Forecast for 2024

March 5, 2024

Recently, Moody’s, a prominent global credit rating agency, revised its forecast for India’s GDP growth in 2024 upwards from 6.1% to 6.8%. The agency’s decision reflects both global and domestic optimism in the country’s economy, driven by robust manufacturing activity ..

Month: 

Category: 

Paytm cuts Ties with Payments Bank Arm 

March 2, 2024

On March 1, fintech leader Paytm announced steps to sever certain operating agreements between its parent entity One97 Communications and the group’s payments bank arm Paytm Payments Bank (PPBL). As part of governance changes, the two firms will function with ..

Month: 

Category: 

India’s February GST Revenue Rises 12.5%

March 2, 2024

On March 2nd, official data revealed India’s Goods and Services Tax (GST) gross revenue collection for February 2023 rose sharply by 12.54% year-on-year to cross ₹1.68 lakh crore. This marks both – the third highest monthly receipts from the indirect ..

Month: 

Category: 

NSO Revises India’s GDP Growth Estimates

March 1, 2024

On March 1st, the National Statistical Office (NSO) updated India’s real GDP outlook for the current and previous two fiscal years. The revisions reflect data from the first advance estimates that incorporate latest production trends across sectors. Upward Revision for ..

Month: 

Category: