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Economy Current Affairs

Current Affairs in: हिंदी

Moody's upgrades India's sovereign rating after 14 years

1 day ago
Important for Exam: 3 people agreed

US credit rating agency Moody's raised India's sovereign rating to Baa2 from its lowest investment grade of Baa, while changing the outlook for the country's rating to stable from positive. Since 2004, Moody raised the sovereign rating for the first time ignoring a haze of short-term economic uncertainties to bet on the nation’s prospects from a raft of policy changes by the government.

Cabinet approves the establishment of the National Anti-profiteering Authority under GST

1 day ago
Important for Exam: 1 people agreed

The Union Cabinet led by the Prime Minister Narendra Modi has given its consent for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority (NAA) under GST. The decision was followed up immediately after the sharp reduction in the GST rates of a large number of items of mass consumption. This paves the way for the immediate establishment of this apex body, which is mandated to ensure that the benefits of the reduction in GST rates on goods or services are passed on to the ultimate consumers by way of a reduction in prices.

Union Government launches BHARAT-22 Exchange Traded Fund

3 days ago
Important for Exam: 0 people agreed

Union Government's key Economic Reforms may also benefit ETF. These reforms are Insolvency and Bankruptcy Code 2016, Digital Economy, Bank recapitalization, GST, Liberalization of FDI, Introduction of Daily Fuel pricing, Revival package for DISCOMs, etc.

India to be third largest economy by 2028, says report

Nov 14, 2017
Important for Exam: 1 people agreed

India is likely to achieve strong growth over the next decade and emerge as the world’s third-largest economy, overtaking Japan in nominal GDP by 2028, says a report titled ‘India 2028’ by Bank of America Merrill Lynch.

Cabinet approves Joint Interpretative Declaration between India and Colombia

Nov 12, 2017
Important for Exam: 1 people agreed

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for signing the Joint Interpretative Declaration (JID) between India and Colombia.

RBI directs banks to provide doorstep banking facilities to senior citizens, differently-abled

Nov 10, 2017
Important for Exam: 0 people agreed

The Reserve Bank of India has asked banks to provide doorstep banking facilities to senior citizens who are more than 70 years of age and differently-abled persons by December 2017.

GST rate on various mass consumption items reduced to 18 per cent

Nov 10, 2017
Important for Exam: 5 people agreed

All types of chewing gum, chocolates, preparation for facial make-up, shaving and after-shave items, shampoo deodorants, washing powder detergent and granite and marble will now attract 18 per cent GST rate.

RBI to launch public awareness campaign through text messages

Nov 9, 2017
Important for Exam: 0 people agreed

The Reserve Bank of India would soon be launching a new public awareness campaign through text messages to educate public about various banking regulations and available facilities.

India slips to 7th position in Business Optimism Ranking

Nov 9, 2017
Important for Exam: 0 people agreed


According to the most recent Grant Thornton International Business Report India has slipped to the 7th position in the Business Optimism Index (BOI) in the September quarter, from the second position in the previous three months. The survey suggests that this ranking is showing the clear signs of lag in the economy.

Haryana government signs Rs 20,000 Cr worth MoU to set up trading hub

Nov 3, 2017
Important for Exam: 1 people agreed

The state government Haryana on 2 November 2017 signed a memorandum of understanding (MoU) with an integrated trade facilitation services organisation - Verbind - to set up a logistics and trading hub in the state.

CBDT notifies rules for furnishing Master File and Country-by-Country Report

Nov 2, 2017
Important for Exam: 0 people agreed

The report of Master File needs to be submitted in Form 3CEAA and the Country-by-Country Report in Form 3CEAD. An international group having multiple Indian constituent entities can designate one constituent entity to furnish the Master File.

PFRDA increases maximum age of joining under NPS-Private Sector to 65 years

Nov 2, 2017
Important for Exam: 1 people agreed

With this, any Indian Citizen, resident or non-resident, between the age of 60- 65 years can now join NPS and continue up to the age of 70 years in NPS. Moreover, the subscribers who are willing to join NPS at the later stage of life will be able to avail the benefits of NPS.

CCEA approves Special Banking Arrangement for payment to fertilizer companies

Nov 2, 2017
Important for Exam: 0 people agreed

Union Government is making fertilizers available to farmers at subsidized prices through fertilizer manufacturers or importers. For making funds available to the fertilizer companies against the subsidy claims, Union Ministry of Finance had approved SBA for an amount of Rs 10000 crore with Government interest liability limited to G-Sec rate.

World Bank releases Doing Business Report 2018: India ranks 100 among 190 countries

Nov 1, 2017
Important for Exam: 7 people agreed

India jumped over 30 ranks this year to attain 100th spot in the ease of doing business list. It was ranked at 130th position in the 2017 Doing Business Report. India is the only country in South Asia and BRICS economies to feature among most improved economies of the DB Report this year.

Union Government constitutes Arun Jaitley led committee to oversee PSU bank mergers

Nov 1, 2017
Important for Exam: 0 people agreed

Earlier in 2017 itself, the banking sector witnessed the consolidation of State Bank of India (SBI), which merged operations of its five associate banks and Bharatiya Mahila Bank with itself, marking the first consolidation move following the bad loan crisis.

India sends first shipment to Afghanistan through Iran’s Chabahar port

Oct 30, 2017
Important for Exam: 2 people agreed

India has sent its first consignment of wheat to Afghanistan through Iran’s Chabahar port. The move has been seen as a landmark one to operationalise the new strategic transit route, bypassing Pakistan. The shipment was flagged off from Kandla port in Gujarat by Indian External Affairs Minister Sushma Swaraj and her Afghan counterpart Salahuddin Rabbani.

India imposes anti-dumping duty on stainless steel from US, EU and China

Oct 26, 2017
Important for Exam: 1 people agreed

India has imposed anti-dumping duty on certain stainless steel products from the European Union and other nations including China and Korea, in order to protect the domestic industry from cheap imports.

Qatar to introduce minimum wage for workers

Oct 26, 2017
Important for Exam: 1 people agreed

Qatar has announced that it would be introducing a minimum wage for workers. The country has been under global scrutiny over its alleged ill-treatment of migrant labourers.

RBI sets up task force on Public Credit Registry

Oct 24, 2017
Important for Exam: 0 people agreed

The task force will be headed by YM Deosthalee, ex-CMD of L&T Finance Holdings. The other members of the task force are Sekar Karnam, Vishaka Mulye, Rashesh Shah, Sriram Kalyanaraman, Bidisha Ganguly, Sharad Sharma, Vivek Srivastava, Parvathy V. Sundaram and Anujit Mitra.

GSTN launches offline option for GSTR-3B returns filing

Oct 23, 2017
Important for Exam: 0 people agreed

This offline facility will provide an opportunity to the taxpayer to verify the details of GSTR 3B before filing GSTR-3B returns and minimise chances of error. It is designed to help taxpayers to prepare their GSTR-3B return on their computer system.

Banks to now match original IDs with photocopies: PMLA

Oct 23, 2017
Important for Exam: 1 people agreed

The Government has set a mandatory rule for banks and financial institutions (FIs) to check the original identification documents of individual person dealing in cash above the prescribed threshold of fifty thousand rupees, to tackle the use of forged or fake copies.

Three- pronged approach for structural reform in India: IMF

Oct 14, 2017
Important for Exam: 1 people agreed

The IMF has suggested a 3-pronged approach for structural reform in India that includes Addressing the banking and corporate sector weaknesses, continued fiscal consolidation through revenue measure, and Improving the efficiency of labour and product markets.

Union Minister launches Sampoorna Bima Gram Yojana

Oct 13, 2017
Important for Exam: 5 people agreed

The Union Minister for Communications, Manoj Sinha has launched the Sampoorna Bima Gram Yojana, an initiative for expansion of client base of Postal Life Insurance.  The main objective of the scheme is to cover all households in the identified Sampoorna Bima Gram village.

RBI introduces strict KYC guidelines for Prepaid Payment Instruments

Oct 13, 2017
Important for Exam: 3 people agreed

RBI has announced a fresh guideline on the issuance and operation of PPI (Prepaid Payment Instruments). It has also has issued stricter Know Your Customer (KYC) norms for the users of prepaid instrument or mobile wallets. With these guidelines to complete full KYC formalities, the mobile wallet user can now send-receive money between wallets of different companies and banks seamlessly through Unified Payments Interface (UPI).

Tamil Nadu Cabinet approves implementation of 7th Pay Commission recommendations

Oct 12, 2017
Important for Exam: 0 people agreed

The Tamil Nadu Cabinet has approved the implementation of the 7th Pay Commission recommendations to benefit the state government employees and teachers. The decision was taken at a cabinet meeting after receiving a report from a high-level committee led by State Finance Department Principal Secretary K Shanmugam.

CCEA approves SANKALP & STRIVE Schemes to boost Skill India Mission

Oct 12, 2017
Important for Exam: 0 people agreed

SANKALP is Rs 4455 crore centrally sponsored scheme including Rs 3300 crore loan support from World Bank whereas STRIVE is a Rs 2200 crore central sector scheme with half of the scheme outlay as World bank loan assistance.

Gujarat Government to set up 16 new townships to encourage SMEs growth

Oct 11, 2017
Important for Exam: 0 people agreed

Gujarat Government would be setting up 16 new Gujarat Industrial Development Corporation (GIDC) townships in 2400 hectare area to encourage the Small and Medium Enterprises (SMEs).

RBI to soon launch financial literacy drive in 9 states

Oct 11, 2017
Important for Exam: 2 people agreed

The Reserve Bank of India (RBI) has decided to launch a financial literacy drive in 80 blocks in 9 states on a pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases.

RBI issues guidelines for Peer to Peer lending platform

Oct 9, 2017
Important for Exam: 1 people agreed

The RBI (Reserve Bank of India), issued instructions for NBFC (Non-banking Financial Companies) that operate peer-to-peer (P2P) lending platforms. According to the new guidelines, no NBFC can start or carry on the business of a P2P lending platform without attaining a Certificate of Registration from now onwards. These guidelines issued by Reserve Bank of India will be known as the Non-Banking Financial Company - Peer to Peer Lending Platform and will come into force with immediate effect.

India signs €300 million agreement with EIB for Bangalore Metro Phase II

Oct 6, 2017
Important for Exam: 0 people agreed

Government of India and European Investment Bank (EIB) on 5 October 2017 signed the Finance Contract for lending of €300 million for Bangalore Metro Rail Project Phase II Line R6. The agreement was signed by S. Selvakumar, Joint Secretary (BC), Department of Economic Affairs, Ministry of Finance and Andrew McDowell, Vice President of EIB.

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