Ahead of the annual Budget presentation on February 01, The Ministry of Finance and Corporate Affairs tabled the Economic Survey for the current financial year 2021-2022 on Monday. Principal Economic Advisor Sanjeev Sanyal while suggesting a revival in economic activities to pre-pandemic levels stated that the economy grew by 9.2% this year after suffering a … Read more
After Finance Minister Nirmala Sitharaman announced that RBI will launch a digital Rupee in her budget speech yesterday, Finance Secretary TV Somanathan has confirmed that India’s digital currency will be backed by the Reserve Bank of India which will be the only legal digital currency in the country. In a post-budget briefing in Delhi on Wednesday, the North Block … Read more
In one of the biggest bank fraud case registered by the Central Bureau of Investigation (CBI), the agency has charged ABG Shipyard Ltd, its then Chairman and Managing Director Rishi Kamlesh Agarwal, and others with defrauding a consortium of banks led by ICICI bank of over Rs 22,842 crore. CBI also named the former Executive Director Santhanam Muthaswamy, Directors … Read more
Unity Small Finance Bank paid approximately Rs 3,800 crore to depositors of the scam-hit Punjab and Maharashtra Co-operative Bank (PMC Bank) on Thursday, 31st March, after the Deposit Insurance and Credit Guarantee Corporation (DICGC) certified approximately 850,000 such valid accounts earlier in the day. Abhinav Khare, the CEO of Asianet and also BharatPe co-founder and CEO took … Read more
India and Australia signed an economic cooperation and trade agreement on Saturday to ensure barrier free trade in several commodities between the two countries. The agreement was signed by Commerce and Industry Minister Piyush Goyal and Australian Minister for Trade, Tourism and Investment Dan Tehan in a virtual ceremony, in the presence of PM Narendra Modi and Australian PM … Read more
In the fiscal year 2021-22, India has recorded the largest annual Foreign Direct Investment (FDI) inflow of USD 83.57 billion. In 2014-2015, India received 45.15 billion USD in FDI, compared to the highest ever annual FDI inflow of USD 83.57 billion reported for the fiscal year 2021-22, surpassing the previous year’s FDI by USD 1.60 billion. Since … Read more
The Groundbreaking Ceremony for the Third Uttar Pradesh Investors Summit was inaugurated by Prime Minister Narendra Modi in Lucknow on Friday 3rd June 2022. During his speech, PM Modi announced that investment of more than ₹80,000 crores in the state have been finalised in the event. “Today agreements of investment of more than Rs 80,000 crore have been … Read more
Russia has started using an alternate route to ship goods to India, through Caspian Sea and Iran, bypassing the Mediterranean Sea – Suez Canal route. Russia dispatched a test cargo to India from St. Petersburg via Iran o Saturday, operationalising the International North-South Transport Corridor (INSTC). According to Russia Briefing, Iran’s state-owned shipping firm has announced the … Read more
After five days of arduous discussions at the World Trade Organization (WTO), sources indicate that India made a significant influence, with its point of view expressed in all sectors, and that the country’s interests were not put at risk whatsoever. On June 17, Commerce and Industry Minister Piyush Goyal also stated that India had a fantastic triumph at the … Read more
On the occasion of the 60th birthday of Adani Group’s chairman Gautam Adani, he and his family decided to donate Rs 60,000 crore for social causes. The Adani Foundation will administer this corpus for various social causes. According to reports, the Adani Foundation will oversee the donations, which will be used to support healthcare, education, and … Read more