Current Affairs - Economy

The growth rate of digital payments in India during FY23 as indicated by the RBI-DPI is 13.24%. The RBI-DPI index was introduced in March 2018 with a base index value of 100. The RBI-DPI is updated semi-annually with a four-month lag.

The new turnover threshold for companies required to generate e-invoices for B2B transactions and exports under the updated GST rule is ₹5 crore. The previous turnover threshold for e-invoicing under the GST rule was ₹10 crore. The CBIC announced the change in the GST e-invoice rule to boost tax collections and compliance under the GST regime.

Lavasa, India's first private hill station, was sold to Darwin Platform Infrastructure for Rs 1.8 thousand crore after the approval of the National Company Law Tribunal (NCLT).

On July 26, 2023, Mahindra & Mahindra, a prominent Indian conglomerate, confirmed its investment in RBL Bank by acquiring a 3.53% stake for ₹417 crores.

The Union government has approved an increased interest rate of 8.15% on Employees Provident Fund (EPF) deposits for the financial year 2022-23. This decision comes after the EPFO trustees ratified the proposal to raise the interest rates, which had been at a four-decade low of 8.10% for the previous fiscal year.