The Union Cabinet has approved the extension of Pradhan Mantri Ujjwala Yojana (PMUY) for release of 75 lakh LPG connections over three years from Financial Year 2023-24 to 2025-26. This will take the total number of PMUY beneficiaries to 10.35 crore. The PMUY scheme was launched in 2016 to provide free LPG connections to poor …
The assets of India’s Sovereign Wealth Funds (SWF) have doubled in the last five years, reaching 3.65 lakh crore in 2023, growing by about 125% compared to the last five years. In, August 2018, the Sovereign Wealth Fund investment stood at Rs 1.62 lakh crore. The sovereign wealth funds are also playing an important role …
Adani Enterprises’ step-down wholly owned subsidiary – Adani Global, Singapore has formed a 50:50 joint venture (JV) with Kowa Holdings Asia, Singapore for sales and marketing of green ammonia, green hydrogen, and its derivatives. The JV will concentrate on marketing products in Japan, Taiwan, and Hawaii. The JV with Kowa for green hydrogen marketing is …
The Indian banking and financial services sector is experiencing a substantial evolution, driven by the latest advancements in the digital landscape. The Reserve Bank of India remains steadfast in its commitment to upholding regulatory integrity while safeguarding the interests of investors. Personal loans have witnessed a substantial surge, primarily driven by the increased demand for …
Mumbai is set to host the dynamic Fourth G20 Global Partnership for Financial Inclusion (GPFI) Meeting, scheduled from September 14 to 16, 2023. This high-profile gathering will assemble a diverse array of over 50 delegates hailing from G20 member nations, special invitee countries, and esteemed international organizations. The meeting’s central focus revolves around catalysing progress …
What is CPI? CPI is a measure used to track changes in the average prices of a basket of goods and services over time. It helps gauge inflation by reflecting how much more or less consumers need to spend to maintain their standard of living. Central banks and policymakers use CPI data to make economic …
India’s trade relationship with Saudi Arabia has been a crucial component of its economic strategy for years, but recently, it has hit an all-time high trade deficit. A trade deficit occurs when a country imports more goods and services than it exports, leading to an imbalance in trade. Analysing India-Saudi Arabia trade deficit To understand …
The creation of the Global Biofuels Alliance marks the beginning of a new phase in the quest for eco-friendly energy options. Countries from all over the world have also given their support to adopt biofuels and understand how important they are in reducing pollution and addressing climate change. India, as the world’s third-largest consumer and …
Indian Prime Minister Narendra Modi has announced the launch of the India-Middle East-Europe mega economic corridor, marking a significant step toward economic integration between India, West Asia, and Europe. The initiative has garnered international attention, with US President Joe Biden describing it as a “game-changing regional investment.” What is the deal with the rail corridor …
Today, the Reserve Bank of India announced its decision to discontinue the Incremental Cash Reserve Ratio (I-CRR) in a phased manner. This decision comes after a careful assessment of current and evolving liquidity conditions in the financial market. Before moving on to the incremental cash reserve ratio, we need to understand the cash reserve ratio …
