Current Affairs - Finance

In February 2024, India's outward foreign direct investment (FDI) reached $3.47 billion, marking a notable rise from the previous year. This increase, reported by the Reserve Bank of India (RBI), indicates a growing trend of higher financial commitments by Indian entities in foreign markets, encompassing equity, debt, and guarantees.

Axis Bank has pledged ₹100 crore to the National Cancer Grid in collaboration with Tata Memorial Centre to support oncology research, innovation, and digital health adoption, aiming to improve cancer care in India.

India signed a $23 million loan agreement with the Asian Development Bank (ADB) for the development of the Fintech Ecosystem, including the establishment of an International Fintech Institute to strengthen fintech education, boost startup success rates, and drive research and innovation in the field.

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.