The Reserve Bank of India (RBI) has granted approval to the International Finance Corporation (IFC) to acquire 9.7 percent stake in Federal Bank. The central bank's approval comes in response to IFC's application and is contingent on compliance with several regulatory provisions.
World Post Day is celebrated each year on 9 October, the anniversary of the establishment of the Universal Postal Union in 1874 in the Swiss Capital, Bern. It was declared World Post Day by the UPU Congress held in Tokyo, Japan in 1969. 2023 theme: Together for trust: Collaborating for a safe and connected future
Chief Minister of Madhya Pradesh Shivraj Singh Chouhan virtually inaugurated India’s largest pumped storage project in Madhya Pradesh. The project is being developed by Greenko Group, India’s largest energy storage company. The project, which is located in the Khemla block, Neemuch district, Madhya Pradesh, has a capacity of 1440 megawatt (MW).
Banks’ exposure to debt of NBFCs rose 25.8 per cent yoy to ₹13.8 lakh crore in August 2023. This took the share of NBFC credit, as a percentage of total bank credit, to 9.3 per cent from 8.8 per cent a year ago. Compared to February 2018 numbers, Absolute bank lending to NBFCs has jumped to around 3.5 times compared with February 2018.
The Unified Payments Interface (UPI) processed 1,056 Cr transactions worth INR 15.8 Lakh Cr in September this year, crossing the 1,000 Cr transaction threshold for the second consecutive month.
The number of UPI transactions grew over 3% month-on-month (MoM) while the transacted amount grew a little over 4%, as per data shared by the National Payments Corporation of India.
President inaugurated the International Research Conference on Just and Resilient Agri-Food Systems to be organized from 9th October to 12th October in New Delhi. Indian Council of Agricultural Research and Consultative Group on International Agricultural Research Gender Platform are going to host the four-day conference.
India & Saudi Arabia have signed a Memorandum of Understanding (MoU) in electrical interconnections, green/clean hydrogen and supply chains. While regular B2B meetings will be held to set up a complete supply value chain in areas of cooperation, India's Power Ministry has said that the MoU aims to establish a general framework for cooperation between India and Saudi Arabia.
David Warner became the fastest player in the history of the ICC Men's ODI World Cup to complete 1000 runs during the match against India at the MA Chidambaram Stadium in Chennai.
Warner completed the feat within 19 innings, averaging 62 with three half-centuries and four tons since first being a part of the tournament back in 2011.
Tripura Chief Minister Manik Saha launched an e-cabinet system at Agartala to promote digital infrastructure development and digitisation of government services and information. Tripura has thus become the fourth state—and second in the Northeast—after Uttarakhand, Uttar Pradesh and Arunachal Pradesh, to have introduced an e-cabinet system.
The Ministry of Civil Aviation said it has notified the new Drone (Amendment) Rules 2023 for drone pilots, effective from the 27th of September 2023. According to drone regulator DGCA, no individual other than a holder of a valid remote pilot certificate enlisted on the digital sky platform will operate an unmanned aircraft system in India.
The Asian Development Bank (ADB) has approved a $200 million loan to strengthen flood and riverbank erosion risk management along the 650 kilometers (km) long main stem of the Brahmaputra River in Assam. The project’s innovative cost-effective structural and advanced nonstructural measures will strengthen Assam’s capacity to better manage flood and riverbank erosion risks.
India's fiscal deficit in the first five months of the financial year 2023-24 (FY24) stood at Rs 6.42 trillion, 36 per cent of the full-year target of Rs 17.87 trillion, data released by the Controller General of Accounts reported. In the same period in FY23, the fiscal deficit was 32.6 per cent of the full-year target.
The Royal Swedish Academy of Sciences has decided to award the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin “for having advanced our understanding of women’s labour market outcomes.”
Goldin is the 55th recipient of the prize and the third woman to receive the award since its inception in 1969.
The Multi-Commodity Exchange (MCX) has received approval from the markets regulator to initiate its new commodity derivatives platform (CDP), which was suspended on September 28.
The Securities and Exchange Board of India (Sebi) issued this directive as Chennai Financial Markets and Accountability (CFMA) had submitted writ petitions concerning the CDP.