Page-19 of Economy & Banking Current Affairs

Confederation of Indian Industry (CII) Launches Strategy Cell

November 25, 2024

The Confederation of Indian Industry (CII) has initiated a strategy cell in Coimbatore, which aims to support businesses in their growth journey. It was established to assist selected industries in becoming global players. Structure of the Strategy Cell The strategy ..

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IMF Approves Sri Lanka’s Third Bailout Review

November 25, 2024

The International Monetary Fund (IMF) has recently approved the third review of Sri Lanka’s $2.9 billion bailout on November 23, 2024. The country’s economy remains fragile despite the approval and will release approximately $333 million, raising total funding to about ..

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India Among Top 10 Countries with AI Readiness

November 23, 2024

India is emerging as a leader in Artificial Intelligence (AI) readiness,  highlighting its strong potential to enhance public services. The Boston Consulting Group’s report assesses AI readiness across 73 countries. India ranks second globally for AI specialists and third for ..

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India’s Foreign Exchange Reserves 2024 – Update

November 23, 2024

India’s foreign exchange reserves are crucial for economic stability. On November 15, they stood at $657.89 billion which includes $65.75 billion in gold. The reserves had previously reached $675.65 billion on November 8. A decline of $17.7 billion occurred due ..

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India and Maldives Enhance Currency Cooperation

November 23, 2024

The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have recently signed a very important agreement, which aims to facilitate transactions using local currencies. The Indian Rupee (INR) and the Maldivian Rufiyaa (MVR) will now be used ..

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Supreme Court Rules on Telecom Tax Credits

November 22, 2024

The Supreme Court of India recently made a landmark ruling, which allows telecom companies to claim tax credits for expenses related to mobile towers and pre-fabricated buildings (PFBs). The ruling clarifies the classification of these structures under tax regulations. Context ..

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ASEAN-India Free Trade Agreement (AIFTA) Review

November 21, 2024

The ASEAN-India Free Trade Agreement (AIFTA) was initiated in 2010, which aimed to enhance trade in goods and services. After 15 years, a review is necessary to assess its effectiveness. India has experienced a growing trade deficit with ASEAN countries, ..

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India-Australia Annual Summit 2024

November 21, 2024

Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese met during the G20 summit in Rio de Janeiro. They reviewed their Comprehensive Strategic Partnership as they approach its fifth anniversary in 2025 and discussed various areas of collaboration. Economic ..

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GAIL Wins SAP ACE Award for Financial Innovation

November 20, 2024

GAIL (India) Limited has achieved notable recognition and the company has won the SAP ACE Award 2024 for Best Financial Transformation. This marks the second consecutive year of receiving this award. The accolade was presented to R K Jain, GAIL’s ..

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Income Tax Campaign for Foreign Assets Awareness

November 20, 2024

The Income Tax Department has initiated a new campaign that targets taxpayers with high-value foreign income or assets, which aims to enhance compliance for the Assessment Year 2024-25. The Central Board of Direct Taxes (CBDT) is leading this effort. Campaign ..

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