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Economy Current Affairs

  • 18-Oct-2016
  • i. RBI has launched the survey to seek quantitative information on order books, inventories and capacity utilisation of companies in the manufacturing sector, a key input for monetary policy formulation.
    ii. The survey seeks quantitative information on order books, inventories and capacity utilisation, such as, pending order books, backlog order books, total inventories, finished goods inventories, work in progress inventories and installed capacity from companies in the manufacturing activities.

  • i. Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly $91 million.
    ii. The facility would be South Africa’s first biotech manufacturing unit for the production of biosimilars. It is set to produce a range of affordable treatments for cancer and other autoimmune diseases for the African and global market.
    iii. The agreement with KwaZulu-Natal Dube Trade Port Special Economic Zone for Cipla BIOTEC’s new facility was concluded on the margins of BRICS Summit in Goa.

  • 17-Oct-2016
  • Market capitalization : Infosys loses fifth spot to ONGC
    i. TCS is India’s most valuable company with a market capitalization of Rs.4.66 trillion, followed by Reliance Industries Ltd, HDFC Bank Ltd and ITC Ltd at Rs.3.49 trillion, Rs.3.21 trillion and Rs.2.90 trillion.
    ii. Oil and Natural Gas Corp. Ltd (ONGC) beat India’s second largest software exporter, Infosys Ltd to become the fifth most valuable company in India by market capitalization.
    iii. ONGC had a market capitalization of Rs2.37 trillion.

  • i. Roopa Ganguly and Ganeshan two newly elected and nominated Members of Rajya Sabha have taken oath in the presence of Rajya Sabha Chairman Md. Hamid Ansari in the Parliament House.
    ii. Senior BJP leader from Tamil Nadu, L. Ganesan, who will now represent the state of Madhya Pradesh and nominated member Roopa Ganguly of West Bengal, took oath and affirmation.
    iii. The oath ceremony was attended by Deputy Chairman of the Rajya Sabha, P J Kurien, and Parliamentary Affairs Minister Venkaiah Naidu along with other leaders.

  • 15-Oct-2016
  • i. According to a data released by the RBI shows that India’ banking system reported total deposits of Rs 100 lakh crore for the first time ever in September
    ii. Demand deposits crossing R10 lakh crore and time deposits crossing the Rs 90 lakh crore mark, the month saw the highest-ever monthly rise of Rs 5.32 lakh crore — more than the total deposits in the banking sector 20 years back.
    iii. Although Rs 100 lakh crore is a big milestone, historical data reveal deposit growth slowed down considerably over the last five years. While banks’ deposits grew at a CAGR of 12.88% in the last five years, they had grown at a CAGR of 19.9% in the previous five years

  • 14-Oct-2016
  • i. Securities and Exchange Board of India, SEBI has banned 21 entities in a case related to tax evasion and illegal gains through misuse of stock exchange mechanism.
    ii. Sebi in an interim order dated June 1 had barred Dhyana Finstock and 75 other entities, including the above 21, from the market for using the securities system to artificially bump up volume and price of the scrip to provide illegitimate gains to preferential allottees.

  • CCEA approved revision of ethanol prices for public sector OMCs
    i. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs)
    ii. The revised administered price will facilitate OMCs to carry out the Ethanol Blended Petrol (EBP) Programme for the next sugar season 2016-17.
    Additionally, charges will be given to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs.

  • 13-Oct-2016
  • India now the 12th largest holder of US govt bonds
    i. India’s investments in US government bonds reached 123.7 billion dollars, making it the 12 largest holder of American bonds. 
    ii. While China’s exposure(first) to US bonds stood at 1.22 trillion dollars, and Japan’s exposure(second) stood at 1.15 trillion dollars.

  • i. India and Russia signed a pact to set up 25 integrated infrastructure centers for irradiation treatment of perishable food items.
    ii. At least 7 centers will be set up in Maharashtra.
    iii. Perishable items ranging from flowers to fish will be treated there on a commercial scale.

  • i. An apex society of entities in the Hydrocarbon sector, PetroFed signed a Memorandum of Understanding (MoU) with TERI(The Energy and Resources Institute) to undertake study on “Climate Change Risks: Preparedness for Oil and Gas Sector“.in the presence of Sh. Dharmendra Pradhan, Minister of State (I/C), Petroleum & Natural Gas and Sh. K.D. Tripathi, Secretary in New Delhi.
    ii. The study will also provide a comprehensive analysis of threats posed by Climate change to Oil & Gas sector and shall provide a way forward to tackle the challenges posed by climate change.

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