Ashwani Kumar suggested as MD and CEO of UCO Bank by FSIB The Financial Services and Investment Board (FSIB) has recommended the appointment of Ashwani Kumar as the Managing Director (MD) and Chief Executive Officer (CEO) of UCO Bank. FSIB made this recommendation to the Appointments Committee of the Cabinet (ACC) after conducting interviews of…
Gold deposits in Odisha : Gold Deposits Found at Different Locations in Three Districts of Odisha In a recent development, the Geological Survey of India (GSI) has reportedly discovered significant gold deposits at various locations in three districts of Odisha, namely Koraput, Kalahandi, and Nabarangpur. The deposits are expected to be worth billions of dollars…
Shailesh Pathak : Shailesh Pathak named FICCI Secretary General The Federation of Indian Chambers of Commerce and Industry (FICCI) has appointed Shailesh Pathak as its new Secretary General. Pathak, who will be responsible for leading the industry body’s operations, brings with him extensive experience in corporate affairs and public policy, having served as the Senior…
Forex Reserves : Forex Reserves Decline by $8.31 bn to $566.94 bn India’s foreign exchange reserves declined by $8.31 billion to $566.94 billion in the week ended April 9, 2021, mainly due to a fall in foreign currency assets (FCA), as per the Reserve Bank of India (RBI) weekly statistical supplement data. The FCA, which…
Alibaba exits Paytm : Alibaba Exits India’s Paytm, Selling Shares for $167 Million Alibaba, the Chinese multinational conglomerate, has sold its shares in India’s leading digital payments company, Paytm, for $167 million. This marks Alibaba’s complete exit from Paytm after having invested over $2 billion in the company since 2015. Why This News Is Important…
Union Budget 2023: GST Collection at Nearly Rs 1.56 Lakh Crore in January The Goods and Services Tax (GST) is an indirect tax that was introduced in India in 2017 to replace multiple indirect taxes. It has been one of the major sources of revenue for the central and state governments. The Union Budget 2023…
Economic Survey 2021-22: Meaning, Importance, and Highlights The Economic Survey 2021-22, tabled in Parliament on January 31, 2022, is an important document that highlights the economic performance of the country over the past year and outlines the roadmap for the upcoming financial year. The survey is an annual exercise undertaken by the Ministry of Finance,…
National Startup Day 2023: Significance and History National Startup Day is celebrated every year in India on April 19 to recognize and encourage the entrepreneurial spirit of the country. The day celebrates the startups and small businesses that have the potential to transform India’s economy and create jobs for its people. It also highlights the…
Forex Reserves at $562.9 Bn, Fall by $70 Bn in 2022 India’s foreign exchange (Forex) reserves fell by $70 billion to $562.9 billion in the week ended March 25, 2022, due to a decline in foreign currency assets (FCA). FCA, which is the largest component of reserves, fell by $68.6 billion to $521.7 billion during…
Indian Auto Market Surpasses Japan to Become 3rd Largest Auto Market Globally India has surpassed Japan to become the third-largest auto market globally, according to a recent report by JD Power. The report states that India’s auto market witnessed a 7.4% decline in 2020 due to the COVID-19 pandemic, with total sales amounting to 2.15…
