Sanjiv Puri appointed ITC’s New Chairman
ITC Group’s present Managing Director (MD) Sanjiv Puri was elevated as new Chairman and Managing Director of company. His appointment comes after noted industry leader and erstwhile ITC Chairman Yogi C. Deveshwar died on 11 May 2019.

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Center increases Wheat Import Duty by 40%
With wheat production at record high, government has raised import duty on wheat from existing 30% to 40% to support local farmers interest. The higher duty will help offtake of domestically produced grain by discouraging milers to import wheat but t More..

Suresh Mathur Committee to review MicroInsurance Framework
The Insurance Regulatory and Development Authority of India (IRDAI) set up Suresh Mathur Committee to review regulatory framework on micro insurance, and to recommend measures to increase demand for such products. It was formed because of less than d More..

World Economic Outlook April 2019
The International Monetary Fund (IMF) in the World Economic Outlook 2019 April report has made the following forecasts:

•The global growth will be 3.3% in 2019, down from 3.6% in 2018 and 4% in 2017.

•The reduced growth More..

World Bank’s Migration and Development Brief
As per the report of the World Bank’s Migration and Development Brief, India has retained its position as the world’s top recipient of remittances (money sent back home by its nationals working abroad) in 2018.


RBI issues norms to set up Currency Chests
The Reserve Bank of India (RBI) has issued guidelines for banks to set up new currency chests. The guidelines include:

•Area of the strong room/ vault of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, the stron More..

India’s Electric Mobility Transformation: Progress to Date and Future Opportunities
NITI Aayog together with Rocky Mountain Institute (RMI) has released a report titled “India’s Electric Mobility Transformation: Progress to Date and Future Opportunities”. The report analyses the opportunities for the automobile sector and government More..

Brexit has cost Britain nearly 2.5% of GDP: Goldman Sachs
A study by the global investment banking, securities and investment management firm, Goldman Sachs has stated that Brexit has cost Britain nearly 2.5% of GDP.

Findings of the Study

•Britain’s economy has lost nearly 2.5 More..

GST Revenue Touches Record High in March
The statement from the Finance Ministry states that GST collections scaled to a record high of Rs 1.06 trillion in March. The revenue collection was Rs 97,247 crore in the month of February.

Record Reve More..

India’s External Debt Eases
India’s external debt has witnessed a decline of 1.6% to US$ 521.2 billion at end-December 2018 over its level at end-March 2018, on account of the decrease in commercial borrowings and trade credit. Further:

•There had been a valuatio More..

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