Economy & Banking Current Affairs

Unemployment rate at 6.1% in 2017-18

Minister of State for Labour Santosh Gangwar recently announced that the government is conducting a new Periodic Labour Force Survey (PLFS). The survey conducted this year comprises of new parameters and bigger sample size. As per the results of the PLFS survey being conducted by the government, the Unemployment rate in the country in 2017-18 was ..

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Flipkart shuts down Jabong

E-Commerce major Flipkart recently shut down its Jabong- lifestyle and fashion e-commerce portal. The users are being redirected to the website of its another fashion company, Myntra. Flipkart, which is now owned by Walmart, had acquired Jabong for $70 million four years back. As there was a dip in number of app downloads and its ..

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RBI extends deadline for restructuring MSME borrower accounts

In the recent Monetary policy committee statement released by the Reserve Bank of India, it extended the deadline for one-time restructuring of GST-registered MSME borrower account, by further one year to March 31, 2021. The restructuring was to be implemented before March 31, 2020, as per the RBI’s earlier guidelines. It also announced that scheduled ..

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RBI Monetary Policy – Repo rate remains 5.15%

The Reserve Bank of India (RBI) recently conducted its sixth bi-monthly Monetary policy committee (MPC) meeting and released the statement. The repo rate was left unchanged at 5.15%, as a unanimous decision taken by the MPC members. The central bank also announced that it had no plans to monetize the government’s fiscal deficit, which means ..

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India’s 13th major port to be set up in Maharashtra

The Union Cabinet of India recently approved to set up 13th major port of India, at Vadhavan in Maharashtra. The project is to entail a total cost of Rs 65,544 crore. The government is expected to hold 51 per cent stake in the project of the new port. All related business activities would be done ..

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