Page-35 of Economy & Banking Current Affairs

Pusa-2090 Offers Hope to Punjab Farmers

In recent times, the issue of stubble burning in Punjab, India, has drawn significant attention due to its severe environmental impact. While farmers resort to burning crop residue to prepare fields for the next wheat crop, this practice contributes to ..

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Reserve Bank of India Launches Surveys for Monetary Policy Insights

On November 1, the Reserve Bank of India (RBI) announced the introduction of two significant surveys, the ‘Inflation Expectations Survey of Households’ and the ‘Consumer Confidence Survey,’ aimed at providing valuable inputs for its bi-monthly monetary policy decisions. The next ..

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RBI Eases Closure Rules for District Central Co-operative Banks

The Reserve Bank of India (RBI) has announced a significant change in its regulations, allowing District Central Co-operative Banks (DCCBs) to close un-remunerative branches without seeking prior permission from the central bank. However, DCCBs will need approval from the Registrar ..

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RBI Mandates Minimum Two Whole-Time Directors for Indian Banks

The Reserve Bank of India (RBI) has introduced a crucial requirement for Indian banks, stating that they must now have a minimum of two whole-time directors (WTDs) on their boards. This mandate extends to the Managing Director and Chief Executive ..

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India’s Macroeconomic Resilience Amid Global Uncertainty

Amidst global uncertainty, India is gaining momentum in its economic performance, thanks to easing inflation and a stable rupee. The Reserve Bank of India (RBI) highlighted these positive trends in its October bulletin, signaling a robust macroeconomic foundation. Easing Inflation ..

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G20 Expert Panel’s Recommendations on Reforming MDBs

A G20 expert panel dedicated to strengthening Multilateral Development Banks (MDBs) has urged these institutions to pivot from financing individual projects to prioritizing sectoral programs aligned with long-term transformation plans proposed by national governments. This strategic shift aims to enhance ..

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UNCTAD Increases India’s 2023 Growth Forecast to 6.6%

The United Nations Conference on Trade and Development (UNCTAD) has raised India’s economic growth forecast for 2023 to 6.6%, up from the 6% predicted earlier. However, it anticipates a slight slowdown to 6.2% growth in 2024. Global Economic Outlook UNCTAD ..

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RBI Forms Working Group for Credit Loss-Based Provisioning Transition

The Reserve Bank of India (RBI) has established a nine-member working group to propose a framework for a smoother transition to the expected credit loss-based provisioning system (ECL). The group, led by R. Narayanaswamy, a former professor of IIM Bangalore, ..

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