Economy Current Affairs and Top Headlines

Economy Related Current Affairs: In this chapter, information has been given about the latest current affairs based on India and the world in the month from the point of view of upcoming competitive examinations.

India's largest bank, the Reserve Bank of India (RBI) has announced that it will buy four government securities (G-Sec) worth Rs 20,000 crore. The central bank will buy it on 10 February 2021 under Open Market Operation (OMO). The move was announced recently after rising yields to touch intra-day of 6.1634 percent. After the announcement of the purchase of OMO, the yield on the benchmark 10-year G-Sec slowed by 3-4 basis points. It now carries a coupon rate of 5.77 percent as opposed to the previous closing yield of 6.1283 percent.
22 February 2021Economy
To be introduced this year Budget 2021-22 Finance Minister Nirmala Sitharaman Was the third budget of People had high expectations from this budget. The interim budget was presented by Piyush Goyal on 1 February 2019. After this, on July 5, 2019, Nirmala Sitharaman presented her first general budget. On February 1, 2020, he presented his second budget. The government had also sought suggestions for budget 2021 from common people. Along with this, the government had facilitated the MyGov platform to ensure maximum participation of people in the discussions of Budget 2021-22. The budget for 2021-22 is divided into two parts, the first part of which is divided into 6 parts, the next part (b) is divided into direct tax proposals, indirect tax proposals and contracts.
2 February 2021Economy
The National Rating Agency Rating ICRA has projected to grow at a rate of 10.1% of India's real gross domestic product (GDP) in FY 2021-22 (FY2022). Last year too, the rating agency ICRA had earlier projected India's GDP to be -7.8% in the current financial year 2020-21. With the announcement of continued normalization of economic activity and the introduction of Kovid-19 vaccine, the economy is expected to grow rapidly.
21 January 2021Economy
The Reserve Bank of India has relaxed the daily ATM withdrawal limit to Rs 4500 from the limit of Rs 2500 on 30 December 2016. The new limit would be applicable from January 1, 2017.However, the weekly withdrawal limit of Rs 24,000 remains unchanged.
0 December 2016Economy
According to agency Carat, India’s 2016 advertising growth rate will be the fastest at 12%, which is ahead of global average of 4.5%. The agency Carat is the part of the Dentsu Aegis Network. It urge the marketers of India to promote their goods and services, that is expected to propel the country’s advertising growth rate by a significant margin in 2016. It has also better India’s performance last year, when the advertising growth rate was 11%.
19 April 2016Economy
Reliance Industries director Nita Ambani and State Bank of India chairman Arundhati Bhattacharya have been ranked top two in Forbes’ “Asia 50 Power Businesswomen 2016” list, which acknowledges the inroads women are making in the business world, despite gender inequalities. American magazine Forbes has released 2016 “Asia’s 50 Power Businesswomen” list featuring business women from 14 countries.
8 April 2016Economy
Governor of Reserve Bank of India, Raghuram Rajan, has said that the apex bank is expecting the US Fed to hike its near-zero short-term interest rate next week by anywhere from 0.01 per cent to 0.25 per cent. 
12 December 2015Economy
Improved investor sentiment and resilience to external shocks are expected to increase India's GDP growth rate to 7.5 percent during 2015-16 and further to 7.8 percent in the next fiscal year, predicts the World Bank. The Gross Domestic Product (GDP) growth, as per the bank, is lifted by cheap oil prices and the country's limited exposure to the global financial turmoil.
5 October 2015Economy
RBI Governor Raghuram Rajan has raised hopes of India Inc as he hinted on another round of rate cut this year by saying India’s apex bank is still under “accommodative mode”. However, he also added that the final decision of any rate cut will be undertaken only after inflation data and other macroeconomic economic factors.
30 August 2015Economy
Anticipating tougher competition after RBI granted payments banking licences to 11 entities, State Bank of India (SBI) has said it will increase the number of its Customer Service Points (CSP) to assert its position in the rural unbanked segment.'We are seeing a lot of competition,' SBI chairperson Arundhati Bhattacharya said at a FICCI Banking Conclave.
21 August 2015Economy
Government data shows that retail inflation, measured by Consumer Price Index, has gone up to 5.4 per cent in the month of June 2015 from 5.01 per cent in May 2015. The actual data has even surpassed the forecast of 5.1 per cent CPI by Reuters poll of 30 economists. Reports say that 5.4 per cent CPI is the highest retail inflation witnessed in 8 months period, thereby dampening rate cut hopes. 
14 July 2015Economy
Data published by Reserve Bank of India show that up to June 19, foreign exchange reserve has increased to a record high of $355.46 billion, an increase of $1.17 billion. Gold reserves of India in the week to June 19 remained unchanged at $19.34 billion. Special drawing rights with IMF has increased to $4.07 billion, an increase of $26.6 million, and India’s reserve position with IMF jumped to $1.32 billion, an increase of $8.5 million.
28 June 2015Economy
Senior Vice President and Chief Economist of World Bank, Kaushik Basu, said after the release of the latest Global Economic Prospects report that India tops the list of major economies having highest growth rate. India’s growth rate this year is expected to be 7.5 per cent. The official figures of World Bank show that in terms of growth rate India may overtake China officially as the latter is expected to grow at 7.1 per cent this year. 
11 June 2015Economy
After RBI gave permission to domestic companies for raising offshore bonds in rupees, Indian Railways Finance Corp is going to become the first ever domestic issuer of such bonds as it plans of raising up to $1 billion through offshore rupee bonds.
23 April 2015Economy
National Supercomputing Mission has been approved by the Cabinet Committee on Economic Affairs that is chaired by the Prime Minister. The mission is intended to connect national academic as well as Research and Development institutions with 73 high performance computing facilities. The total cost of the project is estimated at Rs. 4,500 crore. 
26 March 2015Economy
In line with Finance Minister Arun Jaitley's announcement during Budget 2015-16, RBI governor Raghuram Rajan cut repo rate by 25 basis points to bring it down to 7.5 per cent. Indian bourses witnessed early morning rally. NSE Nifty and BSE Sensex touched new highs of 9,119.20 and 30,024.74 respectively. 
4 March 2015Economy
With the rise in international oil rates, Petrol price in country has been increased by Rs 3.18 per litre and diesel by Rs 3.09 making it month's second raise. With effect from Saturday midnight, the new petrol price is Rs 60.49 per litre and that of diesel are Rs 49.71 per litre.
1 March 2015Economy
During monetary policy review, Reserve Bank of India has not tinkered with the key rates. While repo and reverse repo rates remain at 7.75 per cent and 6.75 per cent respectively, SLR or statutory liquidity ratio has been decreased to 21.5 per cent, a cut of 50 basis points. The new SLR will be effective from February 7. SLR has been decreased to increase monetary liquidity in the economy. 
3 February 2015Economy
Axis bank has released its Q3 report, revealing a significant jump in its net profit. Available data shows that net profit during third quarter of 2014-15 financial year has increased by 18.5 per cent when compared with that of corresponding period last year. Net profit increased from Rs. 1,604 crore during Q3 2013-14 to Rs. 1,900 crore during Q4 2014-15. 
16 January 2015Economy
World Bank has predicted that Indian Economy will increase at the rate of 7 per cent by the financial year 2016-17, thereby catching up with the growth rate of China. The three factors that World Bank believes recovered the economy are Modi government’s economic measures undertaken in the last six months, lower interest rates, and dipping international crude oil price.
14 January 2015Economy
The restructured Planning Commission of India will be known as ‘Neeti Ayog,’ according to media reports. Sources indicate that the new body will comprise 4 Union Ministers along with 5 Full-time members, who will be experts from different fields. To give a final shape to the new planning body, PM held discussion with chief ministers of various states during early-December 2014.
1 January 2015Economy
The Reserve Bank of India (RBI) is planning to launch the plastic currency notes next year. It will introduce these notes on a pilot basis and will improve the security features so as to avoid the situations of counterfeit. As per reports RBI, is also seeking other alternatives which can be used to improve the quality of the bank notes. RBI governor Raghuram Rajan said that tender for 1 billion notes have been released.
22 August 2014Economy
The Reserve Bank of India (RBI) is planning to launch the plastic currency notes next year. It will introduce these notes on a pilot basis and will improve the security features so as to avoid the situations of counterfeit. As per reports RBI, is also seeking other alternatives which can be used to improve the quality of the bank notes. RBI governor Raghuram Rajan said that tender for 1 billion notes have been released.
21 August 2014Economy
The BRICS launched a development bank with a currency reserve pool worth $100 billion. The bank will be based in Shanghai and its operations will be controlled by India for the initial five years. Afterwards the operations will be presided over by Brazil followed by Russia. The bank has been named as New Development Bank.
15 July 2014Economy
RBI announced that 22 banks that include the SBI, PNB have been penalized for KYC norms violation and money laundering. This was done after the central bank did an investigation of account books, processes and compliance followed in the banks.
15 July 2013Economy
Larsen & Toubro recorded a 15 percent year-on-year growth in net profit for the quarter ended on Sep 30. The company announced that recurring net profit rose to Rs.9.15 billion during the second quarter of the current fiscal from Rs.7.98 billion a year earlier.
22 October 2012Economy
The Reserve Bank of India (RBI) data shows India's foreign exchange (forex) reserves down by $163.7 million to $294.87 billion for the week ended Oct 12. Forex went up by $227.3 million for the week ended Oct 5. Foreign currency assets (FCA) which is the biggest component of the forex reserves fell $150.1 billion to $260.02 billion in the week.
21 October 2012Economy
Officers in the petroleum ministry have stated that the leading gas producing fields at the KG-D6 block owned by Reliance Industries in the Bay of Bengal may be shut down in the near future.
9 October 2012Economy
State-run oil marketing companies slashed petrol prices by Rs.0.56 a litre (excluding state levies in Delhi) with effect from midnight. Petrol will now cost around Rs.67.90 per litre at Delhi. The rates will vary in the cities depending on local taxes. 
8 October 2012Economy
With regards to exports of marine products India achieved an unprecedented figure of 3.5 billion dollars in 2011-12 but so far till August 2012 there has been a reduction of 30 percent in seafood exports.
7 October 2012Economy
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