Current Affairs - Finance

$35.18 Million was the amount contributed by India to the United Nations Regular Budget for 2026. The payment was made within the prescribed deadline, allowing India to be included in the UN’s honour roll of countries that cleared their assessed contributions in full and on time. This contribution supports the UN’s core functions such as peacekeeping, development initiatives, human rights work, and administrative operations. Timely payment also enhances India’s credibility as a responsible global stakeholder and underscores its commitment to multilateral cooperation and a rules-based international order.

The World Bank approved the $830 million loan to support the modernisation of India’s Industrial Training Institutes with the objective of strengthening skill development and aligning training programs with labour market requirements. The funding comes with a long repayment period of 19.5 years, including a four-year grace period, allowing India sufficient time to implement reforms and realize outcomes. The initiative focuses on reducing the gap between industry needs and workforce skills, enhancing employability, and expanding job opportunities. This support also contributes to India’s broader Viksit Bharat vision by promoting sustainable economic growth through a skilled and future-ready workforce.

Slice introduced India’s first savings account directly linked to the RBI repo rate, marking a significant innovation in digital banking. The account calculates interest on a daily basis and credits it in line with real market rates, ensuring transparency and fairness for customers. With features such as instant UPI access, no minimum balance requirement, and immediate liquidity, the solution is designed for convenience and efficiency. Powered by a cost-efficient digital model, Slice’s offering aligns consumer profitability with equitable banking practices, setting a new benchmark for modern, UPI-first financial products in India.

Juspay achieved unicorn status in 2026 after raising $50 million in a Series D follow-on round led by WestBridge Capital, reaching a valuation of $1.2 billion. This milestone made it the first company in India to enter the unicorn club that year and the 127th unicorn overall in the country. The company specializes in enterprise payment solutions such as UPI, payment orchestration, and infrastructure, processing nearly 300 million transactions daily with an annual total payment value of about $1 trillion. The funding also supported global expansion and provided liquidity to early investors and ESOP holders.

The World Bank has approved substantial technical and financial assistance amounting to ₹5,700 crore to support the Jal Sanrakshit Haryana Project. This initiative is aimed at achieving water self-reliance through large-scale restoration and modernisation of canal infrastructure across the state. The funding will be released in phases between 2026 and 2032 and will contribute to upgrading hundreds of canals. Along with support from state funds and NABARD, the World Bank’s involvement highlights its role in strengthening water resource management, improving irrigation efficiency, and promoting sustainable agricultural and water practices in the region.