Finance Current Affairs

Australia provides financial support of USD 50 million to Sri Lanka

Australia has announced to provide 50 million US dollars support to Sri Lanka for meet urgent food and health care needs. Presently, Sri Lanka is facing its worst economic crisis in 70 years, which leads to food shortage, medicine and fuel. Australia will provide 22 million dollars to the World Food Programme (WFP) for emergency food assistance to meet their daily […]

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Beneficiaries of the PFRDA pension scheme increased by 24%

The Pension Fund Regulatory and Development Authority (PFRDA) on Friday said subscriber base under its flagship pension schemes rose by 24 per cent in August this year to over 4.53 crore. According to the Pension Fund Regulatory and Development Authority (PFRDA), the number of subscribers in various NPS plans climbed to 531.73 lakh by the end of May

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Fitch revises rating outlook on 9 Indian banks from ‘Negative’ to ‘Stable’

Fitch Ratings has shift the rating outlook of nine Indian banks which include SBI, ICICI Bank and Axis Bank, from negative to stable. The other banks are: Bank of Baroda (BOB), Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab National Bank (PNB) and Union Bank of India. The Fitch’s Issuer Default Ratings (IDR) are

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Ministerial meeting on GST rationalisation fails to reach agreement

According to insiders, a group of state ministers working on GST rate rationalisation was unable to achieve an agreement because some members were opposed to modifications to tax slabs and rates. They stated that the Group of Ministers will provide a status report to the GST Council on the consensus reached at the Group of Minister’s previous meeting on November 20, 2021.

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Since 1980s, world’s central banks launch their most hawkish campaign

Central bankers around the world are enacting what could be the most dramatic tightening of monetary policy since the 1980s, risking recessions and upsetting financial markets as they try to deal with an unexpected spike in inflation. The week began with a surprise move on Wall Street to price in a Federal Reserve rate hike of 75 basis points. Chairman Jerome

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Piyush Goyal: After several years, India able to win favourable WTO outcome

Despite a strong global campaign against Indian farmers and fishermen, India was able to secure a favourable outcome at the WTO after many years, commerce and industry minister Piyush Goyal told the media after the conclusion of the 12th ministerial conference — the WTO (World Trade Organisation)‘s highest decision-making body . Piyush Goyal described the conference as a ‘outcome-oriented success’, saying

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Equitas Small Finance Bank to launch exclusive savings account for kids

Equitas Small Finance Bank has announced to launch an exclusive savings account for kids named as ‘ENJOI’. Aim: Introducing young kids to the financial world and encourage them to develop the saving habit early. It will allow kids of 0-18 years to open savings accounts under the supervision of their parents. It will be launched on June

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Adani Transmission gets ‘green loan’ tag for $700-mn revolving facility

Adani Transmission Limited (ATL) has been tagged as ‘green loan’ by Sustainalytics for its USD 700 million revolving loan facility. ATL has also signed an energy compact goals as part of COP26 and the energy compact with the UN in November, 2021. This revolving facility project is being implemented in Gujarat and Maharashtra. Sustainalytics, provides analytical environmental, social and governance

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Trade deficit of India broadens to $24.29 billion in May 2022

Trade data released by the Ministry of Commerce and Industry showed that India’s May trade deficit widened to $24.29 billion from $6.53 billion a year ago. May’s trade deficit was pushed up by a surge in imports, which rose 62.83% year-on-year to $63.22 billion, while exports rose 20.55% to $38.94 billion, revised trade data released by the Ministry of

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Bharat FIH receives Sebi’s approval for ₹5,000 crore public offering

Bharat FIH has received market regulator SEBI’s approval for an Initial Public Offering (IPO) aggregating to ₹5,000 crores. Bharat FIH is a subsidiary of FIH Mobile a leading manufacturing services provider for the mobile handset industry, which is a part of Foxconn Technology Group. The company makes devices for Xiaomi and Nokia. The IPO size comprises a fresh issue worth ₹2,501.9 crore and an offer for

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