Economy & Banking Current Affairs

Project Kirana launched by Mastercard and USAID

On November 19, 2020, Mastercard and United States Agency for International Development launched “Project Kirana”. The programme will enable women entrepreneurs to grow, launch and thrive. What is the plan? Under Project Kirana, a two-year programme is to be rolled out in selected cities such as Kanpur, Lucknow and Varanasi of Uttar Pradesh. The project ..

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India-World Bank sign 120 million USD agreement to implement Meghalaya Integrated Transport Project

On November 19, 2020, India and World Bank signed 120 million USD to modernise transport sector in the state of Meghalaya. The project aims to improve 300 km of strategic road segment through climate resilient and nature-based solutions. About Meghalaya Integrated Transport Project The project will help Meghalaya to emerge as the major connecting hub ..

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Why did RBI impose moratorium on Lakshmi Vilas Bank?

The Reserve Bank of India recently imposed a moratorium on Lakshmi Vilas Bank of India for a period of thirty days. The apex bank has also drafted a scheme for the merger of the bank. Under the scheme, the Lakshmi Vilas Bank is to be amalgamated with the DBS Bank of Singapore. Why was Lakshmi ..

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Four Indian Cities selected by World Economic Forum to pioneer roadmap for Smart Cities

On November 18, 2020, the World Economic Forum selected 36 cities from 22 countries for pioneering a policy road map for smart cities. These smart cities are being developed under the G20 Global Smart Cities Alliance. Of the 36 cities selected, four are Indian cities. The four Indian cities selected are Bengaluru, Faridabad, Indore and ..

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First Convergence Project of India to generate green energy

On November 17, 2020 the Energy Efficiency Services Limited signed a Memorandum of Understanding with the Department of New and Renewable Energy, Goa. According to the agreement, the first convergence project of India to generate Green Energy for agriculture and rural areas is to be set up in Goa. About the project The project is ..

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