News on Indian Economy
On Monday, BharatPe, a fintech firm, announced that it recorded 106 million monthly transactions in the UPI QR payments segment in March 2021 and aims to triple UPI payments in FY22.
Tata Power, India’s largest integrated company is committed towards ensuring safety and sustainability for its stakeholders, environment and the community. In line with this commitment, Tata Power has announced the commissioning of India’s largest natural ester filled 110 /33 / 22 kV, 125 MVA power transformer in the Mumbai Transmission network at the BKC receiving station in active collaboration with ABB and Cargill.
Sugar mills have exported 2.49 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September
Both Sandhya and Yogeshwari Rane are also the first women in Indian Mining to receive the ‘First Class Mines Manager’ certificate of competency in the “Unrestricted” category.
Eyeing indigenous production of containers amid a global surge in demand, the Centre is looking to develop Bhavnagar in Gujarat as a container hub and has set up pilot projects for its manufacturing, Union Minister Mansukh Mandaviya said.
The public sector bank (PSB) in an update has said that it has come across reports, wherein cybercriminals are reported to have created online fixed deposits in customers’ accounts in an attempt to carry out social engineering frauds. The State Bank of India has advised its customers to control access to their account by not sharing personal details like password/ OTP/ CVV/ Card Number etc. with anyone. It said that the bank would never ask for these details over phone or email or SMS.
Union Minister Jitendra Singh on Saturday said that the Shahpur-Kandi dam project will become functional by November 2022 and India will then be able to fully utilise the waters of the Ravi river in its territory.
Indian Railways has recorded the highest loading in freight transportation. The Ministry of Railways in a release informed that in the financial year 2020-21, the Indian Railways transported the loading of 1232.64 Million Tonnes (MT).
Outstanding bank deposits stood at ₹151.13 trillion as on 26 March, the last fortnight of the financial year, showed data released by the Reserve Bank of India (RBI). This translates into a growth of 11.3% from the same period last year. In contrast, non-food credit grew at a sluggish pace of 5.5% year-on-year (y-o-y) to ₹108.9 trillion.
India`s goods exports posted a 297.2 percent increase (year-on-year) in the first seven days of this fiscal to $6.79 billion and by 8.42 percent (YoY) over the corresponding period of 2019-20. Imports in the first week of 2021-22 (April 1-7) increased 244.2 percent to $ 9.66 billion and decreased by 0.65 percent (YoY) over 2019-20 during the week.
