Page-30 of Economy & Banking Current Affairs

UPI Rule Change: Money in PPI Wallets Can Be Spent Using Any UPI

April 13, 2024

Unified Payments Interface (UPI) and wallets have become an integral part of our daily lives in recent years, thanks to the efforts of companies like Paytm, PhonePe, and Amazon. However, users have often complained about the limitation of using wallet ..

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 HDFC Bank opens branch in Lakshadweep’s Kavaratti Island

April 11, 2024

HDFC Bank has become the first private sector bank to establish a branch in Kavaratti Island, part of the Union Territory of Lakshadweep. The bank aims to improve banking infrastructure in the region by offering a variety of services, with ..

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SWAMIH Fund Helps in Completion of 28,000 Homes Since 2019

April 9, 2024

The Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, backed by the central government, has played a crucial role in the completion of over 28,000 homes since its inception in 2019. The fund, managed by SBICap Ventures Ltd, has ..

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Cochin Shipyard Signs Master Shipyard Repair Agreement with U.S. Navy

April 9, 2024

Cochin Shipyard Limited (CSL), a state-run shipbuilding facility in Kochi, has become the third Indian shipyard to enter into a Master Shipyard Repair Agreement (MRSA) with the U.S. Navy. This agreement enables CSL to repair U.S. Navy ships, following in ..

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Government Releases Guidelines for Green Hydrogen Use in Transport Sector

April 8, 2024

Recently, Indian Government has announced a Rs. 496 crore scheme (until 2025-26) to support pilot projects testing the viability of green hydrogen as a fuel for cars and heavy vehicles. The scheme, under the Ministry of New and Renewable Energy ..

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RBI Decides to Keep Policy Rates Unchanged

April 6, 2024

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), which met recently, decided to keep the repo rate – the main policy rate – unchanged at 6.5 per cent and maintain the policy stance of ‘withdrawal of ..

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Issue of State Governments Power to Levy Excise Duty on Industrial Alcohol

April 6, 2024

The Supreme Court is currently hearing arguments on whether state governments have the power to regulate and control the sale, distribution, pricing and other factors relating to ‘industrial’ alcohol. The case has been referred to a 9-judge Bench headed by ..

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India’s Market Cap Likely to Hit $10 Trillion by 2030

April 5, 2024

India’s stock market capitalization is currently the fifth largest globally at $4.5 trillion, according to a report titled ‘Recap 2024. Crystal Gaze 2025’ by financial conglomerate Pantomath Group. The report predicts that India’s market cap is likely to hit $10 ..

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22 New Products Added to Geographical Indication (GI) Registry

April 1, 2024

In March 2024, the Geographical Indication (GI) registry of India added 22 new products from the states of Assam, Uttar Pradesh, Tripura, and Meghalaya. These products are now protected under the GI tag, which recognizes their unique qualities and geographical ..

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Digital India Trust Agency (DIGITA)

March 31, 2024

The Reserve Bank of India (RBI) is considering establishing a Digital India Trust Agency (DIGITA) to combat the proliferation of illegal lending apps and curb growing cyber fraud. This proposed agency aims to verify digital lending apps, maintain a public ..

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