India’s Foreign Exchange Reserves 2024 – Update

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 ..

Month: Current Affairs - November, 2024

Category: Economy & Banking Current Affairs

Income Tax Campaign for Foreign Assets Awareness

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 ..

Month: Current Affairs - November, 2024

Category: Economy & Banking Current Affairs

Nirvik: New Export Credit Insurance Scheme

The Ministry of Commerce & Industries through the Export Credit Guarantee Corporation (ECGC) has launched a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process. What is Export Credit Insurance? Export credit ..

Reliance Industries receives India’s first Letter of Credit (LC) payment via blockchain

HSBC Holdings Plc has executed India’s first trade financial transaction using blockchain for a deal involving an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) reduces transaction timeline from 7-10 days to ..

Masala Bonds

Masala bonds are rupee denominated overseas bonds. Here are key notable points about Masala Bonds. Such bonds are Rupee denominated. When an Indian company issues Rupee denominated Bond, it is obviously shielded against the risk of currency exchange rate aberrations. The ..

FIIs pull out $2 billion hot money from India in 2016

India is headed towards losing its safe haven status among foreign portfolio investors after a nearly USD 2-billion pullout of so-called ‘hot money’ 2016. This has made it the last period in the last 8 years in case of foreign ..

Akodara: India’s first Digital Village

Akodara, a small village in Sabarkantha district of Gujarat has earned the distinction of becoming the country’s first digital village. The village with a small community of 1200 people has gone completely cashless. The village was adopted and developed by ..

RBI announces measures to revive Rupee

The Reserve Bank of India announced a number of steps, to aid revive the currency and the economy The measures include increasing limits for external commercial borrowings and government securities .The initiatives are in consultation with the government to liberalize ..

Month: Current Affairs - June, 2012

G-20 Cannes summit 2011

G-20 is a group of finance ministers and central bank governors from 20 economies which include 19 countries viz. South Africa, Canada, Mexico, United States, Argentina, Brazil, China, Japan, South Korea, India, Indonesia, Saudi Arabia, Russia, Turkey, France, Germany, Italy, ..

Month: Current Affairs - December, 2011

Category: Summits and Conferences

General Compendium-5

The Bretton WoodsEconomies of ScaleG-77ChaityaNatarajaBlood GroupsThe Bretton WoodsThe Bretton Woods system is commonly refers to the international monetary regime that prevailed from the end of World War II until the early 1970s. Taking its name from the site of the ..