World Bank Projects Indian Economy to grow at 6.3% in FY24 The World Bank has projected India’s GDP (Gross Domestic Product (GDP) growth at 6.3 percent for FY2023-24, in its latest India Development Update (IDU). The IDU is World Bank’s Read more
OECD projects India’s GDP to grow 6.3% in FY24 The Organisation for Economic Cooperation and Development (OECD) in its latest update of forecasts for major economies has raised India’s gross domestic product (GDP) forecast for current fiscal 2023-24 (FY24) to Read more
S&P Global revises upwards India’s GDP in FY24 to 6.6% The S&P Global Market Intelligence has revised upwards India’s growth forecast for FY24 to 6.6%. This is a sharp revision from the 5.9% growth forecast in August 2023 by analytics Read more
Cashfree Payments launches ‘AutoPay on QR’ in collaboration with NPCI Cashfree Payments has announced the launch of ‘AutoPay on QR’ in collaboration with National Payments Corporation of India (NPCI). ‘AutoPay on QR’ will enable customer on-boarding through a two-step workflow Read more
RBI approves ICICI Bank CEO Sandeep Bakhshi’s re-appointment for 3 year The Reserve Bank of India (RBI) has approved the re-appointment of Sandeep Bakhshi as the managing director (MD) and chief executive officer (CEO) of ICICI Bank, for three years Read more
ICICI Bank gets RBI approval to make I-Process Services wholly-owned subsidiary ICICI Bank has received approval from the Reserve Bank to make I-Process Services (India) Private Ltd a wholly-owned subsidiary of ICICI Bank, subject to receipt of requisite regulatory and Read more
RBI releases Sovereign Gold Bond Scheme 2023-24 Series II – with Issue Price of ₹5,923/- The Reserve Bank of India has issued the Sovereign Gold Bond Scheme 2023-24 – Series II for subscription during September 11–15, 2023. The nominal value Read more
RBI announces to discontinue Incremental CRR in a phased manner In August 2023, RBI had advised scheduled banks to maintain an incremental cash reserve ratio (I-CRR) of 10 percent on the increase in their net demand and time liabilities (NDTL) Read more
NPCI launched India’s First Contactless Payment Wearable Ring “OTG Ring” in collaboration with LivQuik NPCI has unveiled the “OTG Ring” which is the first contactless payment wearable ring made in India, in collaboration with Indian startup LivQuik. “OTG Ring” can Read more
IDEMIA, Airtel, Nokia join hands for offline CBDC payment on feature phones IDEMIA has announced that it has collaborated with Airtel Payments Bank and Nokia’s parent company HMD Global to introduce an offline Central Bank Digital Currency payment application on Read more