Economy & Banking Current Affairs

Kris Gopalakrishnan appointed the first Chairperson of Reserve Bank Innovation Hub

On November 17, 2020, Kris Gopalakrishnan, the former co-chairman and co-founder of Infosys was appointed as the first Chairperson of Reserve Bank Innovation Hub. He was appointed by the Reserve Bank of India. The Reserve Bank Innovation Hub aims to promote innovation across financial sector. Reserve Bank Innovation Hub The RBI set up the hub ..

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First Solar Powered Textile mill in Asia to come up in Parbhani district, Maharashtra

On November 17, 2020, the chairman of Jai Bhawani Women cooperative textile mill announced that the mill will soon operate on solar power. With this, the mill will become the first Solar Power enabled textile mill in Asia. The mill is located in Parbhani district of Maharashtra. Key Highlights The mill is spread across 30 ..

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Why did India not sign the world largest RCEP trade deal?

On November 15, 2020, China and other fourteen Asian countries signed the world largest trade pact under the RCEP of ASEAN grouping. The agreement left the doors open for India. However, in 2019, India walked out of the agreement. Why did India not sign the agreement? According to India, the deal does not address its ..

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WPI inflation at 1.48% in October 2020; Increased for third consecutive month

The Wholesale Price Index (WPI) increased to 1.48% in October 2020. This was the highest in the past eight months. Key Highlights The inflation rate based on WPI Food Index fell from 6.92% in September 2020 t0 5.78% in October 2020. The WPI manufacturing increased to 2.12% in October 2020 as compared to 1.61% in ..

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India contributes 1 million USD to Covid-19 ASEAN Response Fund

On November 12, 2020, Prime Minister Narendra Modi  cochaired India-ASEAN summit along with the Vietnamese Prime Minister Ngyuyen Xuan Phuc. ASEAN is Association of South East Asian Nations. During the summit, PM annoucned that India is to contribute 1 million USD to COVID-19 ASEAN Response Fund. Key Highlights The summit reviewed the status of India-ASEAN ..

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