Page-5 of Economy & Banking Current Affairs

India’s Forex Reserves Show Significant Increase

December 7, 2024

India’s foreign exchange reserves have experienced a notable rise. on November 09, the reserves reached 658.09 billion dollars, an increase of 1.51 billion dollars. This marks the first rise in nine weeks after the reserves had previously fallen to a ..

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Insurance Amendment Bill

December 7, 2024

A parliamentary committee has endorsed reforms in the insurance sector, aiming to enhance the industry’s efficiency and competitiveness. The Insurance Amendment Bill proposes several key changes. Composite Licenses for Insurers The committee supports allowing composite licenses. Insurers would be able ..

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What is MuleHunter.AI?

December 7, 2024

The Reserve Bank of India’s innovation unit, RBIH, has introduced MuleHunter.AI, which aims to combat financial fraud effectively and specifically targets mule accounts used in illegal activities. Recent statistics show that online financial frauds account for 67.8% of cybercrime complaints, ..

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RBI Increases UPI Lite Wallet and Transaction Limits

December 6, 2024

The Reserve Bank of India (RBI) has raised the UPI Lite wallet limit from ₹2,000 to ₹5,000, which aims to encourage digital transactions. The new rules were announced recently and are effective immediately. New Wallet Limit The wallet limit for ..

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What is National Legal Metrology (eMaap) Portal?

December 6, 2024

The Government of India is developing a unified online platform called the National Legal Metrology Portal (eMaap), which aims to connect all State Legal Metrology Departments. The portal will streamline various processes, enhancing efficiency in legal metrology. Purpose of eMaap ..

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India’s UPI Achieves Record Transactions in October

December 4, 2024

India’s Unified Payments Interface (UPI) reached a milestone in October 2024, recording 16.58 billion transactions in one month. This marks a 45% increase from the previous year. The total amount transacted was ₹23.49 lakh crore. UPI continues to revolutionize India’s ..

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Oilfields (Regulation and Development) Amendment Bill, 2024

December 4, 2024

The Rajya Sabha intended to discuss the Oilfields (Regulation and Development) Amendment Bill, 2024. However, the session concluded without any progress on the matter. The bill aims to stabilise policies for oil and gas companies, which seeks to promote international ..

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CBIC Host Global India Authorised Economic Operator (AEO) Programme

December 2, 2024

The Central Board of Indirect Taxes and Customs (CBIC) recently hosted a global India Authorised Economic Operator (AEO) programme, which took place on November 28-29, 2024, in New Delhi, and involved collaboration with the World Bank. Key figures included CBIC ..

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