India's current account deficit (CAD) in the January-March quarter of FY23 narrowed to $1.3 billion, accounting for 0.2 percent of the country's GDP, according to the latest data released by the Reserve Bank of India (RBI) This positive development was primarily attributed to a reduction in the trade deficit and a significant increase in services exports.
IIT Bombay has broken into the top 150 league of the QS World University Rankings 2024, climbing 23 places to 149, up from 172 last year. With 45 universities in the latest rankings - up from 41 last year - India is the seventh most represented country globally and the third in Asia.
The World Bank’s Board of Executive Directors approved a $300 million loan to help expand and improve the quality of education in government-run schools in the central Indian state of Chhattisgarh. The project aims to benefit about 4 million students, mostly from poor and vulnerable communities in the state.
GAIL India Limited received the title of Authorised Economic Operator (AEO) T3 Status. It is the highest level of facilitation for Exporters and Importers by the Central Board of Indirect Taxes and Customs, Ministry of Finance.
Canara Bank has become the first public sector bank in India to introduce UPI (Unified Payments Interface) payments for merchants through its RuPay Credit Card. This exciting feature is now accessible within the bank’s ‘Canara ai1’ Banking Super App, thanks to a partnership with the National Payments Corporation of India (NPCI).
K Satyanarayana Raju is the MD and CEO of Canara Bank
The dairy sector is expected to grow at more than 6% in 2023-24, said Union Animal Husbandry and Dairying Minister Parshottam Rupala.
Milk production has been growing at an annual growth rate (CAGR) of 6.1% over the last eight years, and in the coming season, it is expected to grow at over 6%.
National Insurance Awareness Day is observed on June 28. The day aims to highlight the importance of insurance and raise awareness about the vital role it plays in our lives.
John Goodenough, who shared the 2019 Nobel Prize in Chemistry for developing the lithium ion battery that revolutionized modern life has died at the age of 100, the University of Texas announced.
His contributions to the development of lithium ion batteries paved the way for smartphones and a fossil fuel free society.
Insurance regulator IRDAI will be rolling out the first phase of pilot projects associated with a Risk-Based Supervision (RBS) framework from July. The move to RBS is a shift towards adopting global best practices for supervision with a focus on proportionality and materiality and relies on holistic analysis of the activities of regulated entity from a risk perspective.
The World Economic Forum on June 28 ranked India at the 67th place globally on its Energy Transition Index. Sweden topped the list and was followed by Denmark, Norway, Finland, and Switzerland in the top five on the list of 120 countries.
In a major boost to MSME’s in Kerala, Minister for Law, Industries and Coir P Rajeeve has announced that an insurance scheme for MSME units will be rolled out soon, with the State government bearing 50 per cent of the premium with a monetary cap.
The Competition Commission of India (CCI) has approved the acquisition of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited. The proposed combination involves acquisition of 51% of the expanded share capital of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited.
The Gujarat government has signed an MoU with American computer storage chipmaker Micron Technology for a semiconductor assembly and test facility at Sanand in the Ahmedabad district.
IDFC FIRST Bank has raised Rs 1,500 crore of tier-2 bonds in domestic Indian bond markets. These privately placed bonds are issued as unsecured, subordinated, rated, listed, nonconvertible, fully paid-up, taxable, redeemable Basel III compliant tier-2 bonds (in nature of debentures).
Meta has announced new parental control on Messenger, where they can have access to Messenger’s supervision tools and resources. These controls are currently available in the U.S., U.K., and Canada, but the company will soon launch these features in more countries around the world.
The Government of India announced to release Tur from the national buffer in a calibrated and targeted manner till imported stocks arrive in the Indian market. The move is part of several measures being taken to curb food inflation, which continues to be elevated.
The Reserve Bank of India released the 27th issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian financial system.