Current Affairs - Finance

The Government of India signed a $181 million loan agreement with the Asian Development Bank (ADB) to focus on enhancing infrastructure and services in Ahmedabad's peri-urban areas, aiming to improve livability and mobility in the region.

Through the India-Nepal Digital Payment Corridor, Nepali citizens can now send up to Rs 2 lakh per transaction to Nepal. This collaboration between NPCI International Payments Limited and Nepal Clearing House Limited aims to facilitate cross-border digital payments, integrating India’s UPI and Nepal’s National Payments Interface.

NPCI has collaborated with Nepal's Fonepay Payment Service Ltd to facilitate cross-border UPI transactions between India and Nepal. This collaboration aims to enhance payment convenience for Indian tourists visiting Nepal, streamlining financial interactions between the two countries.

Kotak Life Insurance launched the non-linked participating product Kotak G.A.I.N, aiming to cater to individuals' long-term savings or income needs. This product offers flexibility and customization options, ensuring that customers can tailor their investment strategy according to their financial goals.

Razorpay introduced India's first UPI-Led QR stack for enterprises at the FTX'24 event. This innovation includes a card tap contactless payments device, offering both QR-based and contactless tap card payments on a single device. It aims to drive digital payment adoption in larger retail spaces.