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Daily Archives: June 28, 2024

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN

The Government of India has made a whopping contribution of USD 1,169,746 for ‘Hindi @ UN’ project to expand the use of Hindi in the United Nations. The Government of India has been making continuous efforts to expand the use of Hindi in the United Nations. Collaboration with the UN Department of Public Information As …

Frank Duckworth, Renowned English Statistician, Passes Away

Frank Duckworth, Renowned English Statistician, Passes Away

Frank Duckworth, the English statistician who co-invented the Duckworth-Lewis-Stern (DLS) method for determining cricket match results under rain-affected conditions, died at 84 on June 21. The DLS method, introduced in 1997, is widely used in international cricket and was formally adopted by the ICC in 2001. About Frank Duckworth Duckworth was born in 1939 in Lytham …

India Successfully Tests 'Abhyas' High-Speed Expendable Aerial Target

India Successfully Tests ‘Abhyas’ High-Speed Expendable Aerial Target

Defence Research and Development Organisation (DRDO) has successfully completed six consecutive development trials of High Speed Expendable Aerial Target (HEAT) ‘ABHYAS’ with improved booster configuration from the Integrated Test Range (ITR), Chandipur, Odisha. What is ABHYAS? Abhyas is a High-speed Expendable Aerial Target (HEAT) being developed at ADE. It offers a realistic threat scenario for …

Turkey Triumphs as FATF Grey List Status Revoked

Turkey Triumphs as FATF Grey List Status Revoked

Turkish Finance Minister Mehmet Simsek announced that Turkey has been removed from the FATF ‘grey list’ after recent evaluations of the country’s progress on money laundering and terrorist financing. The decision, declared at the FATF plenary meeting in Singapore, marks a significant milestone for Turkey, which had been placed on the grey list in 2021. …

RBI Shortens Frequency of Credit Reporting to Fortnightly

RBI Projects Further Moderation in Bank NPAs to 2.5%

The Reserve Bank of India (RBI) has projected a further improvement in the gross non-performing assets (GNPA) ratio of scheduled commercial banks (SCBs), estimating it to decrease to 2.5% by March 2025. This optimistic outlook is based on macro stress tests evaluating banks’ resilience against potential economic shocks. Sustained Improvement in Asset Quality As of …

India’s Economic Growth Projected at 7-7.2% for FY25

NCAER Projects Over 7% Growth for Indian Economy in Fiscal 2025

The National Council of Applied Economic Research (NCAER) forecasts India’s GDP to surpass 7% and possibly reach 7.5% in fiscal year 2024-25, citing resilient domestic economic indicators and favorable global conditions. High-frequency data shows robust economic activity, prompting upward revisions by all major agencies. Factors supporting this outlook include expected normal monsoons and a focused …

SBI Raises ₹5,000 Crore via AT-1 Bonds at 7.98%

SBI Raises Rs 10,000 Crore via 15-Year Infrastructure Bonds at 7.36% Coupon

State Bank of India (SBI) has successfully raised Rs 10,000 crore through its fifth infrastructure bond issuance. The bonds, with a tenure of 15 years and a coupon rate of 7.36% payable annually, garnered significant investor interest, oversubscribed nearly four times the base size of Rs 5,000 crore. The offering received 143 bids from diverse …

RBI Reports Decline in Short-Term Debt's Share of India's External Debt

RBI Reports Decline in Short-Term Debt’s Share of India’s External Debt

India’s Reserve Bank (RBI) has announced a notable decline in the proportion of short-term debt within the country’s total external debt, marking a decrease of 2.1 percentage points by March 2024 compared to the previous year. This reduction is indicative of India’s strengthened external sector resilience. The ratio of short-term debt to foreign exchange reserves …

INS Sunayna Entered Port Victoria, Seychelles

INS Sunayna Entered Port Victoria, Seychelles

The deployment marks sustained participation of an Indian Military Contingent in military parade organized as part of Seychelles National Day since 1976. INS Sunayna entered Port Victoria, Seychelles on 26 Jun 24 as part of her long range deployment in the South West Indian Ocean Region. Seychelles National Day The ship’s visit coincides with the celebration of 48th …