Current Affairs - Finance

The insurance sector in India has attracted a massive Rs 53,900 crore as Foreign Direct Investment (FDI) in the last 9 years, according to Financial Services Secretary Vivek Joshi. This substantial FDI influx reflects investor confidence and interest in the Indian insurance market.

The Titan SBI Card, a collaboration between SBI Cards and Payment Services Ltd and Titan Company Ltd, offers exclusive benefits worth ₹2,00,000 annually. These benefits include cashback, gift vouchers, and reward points, making it a highly rewarding credit card option for users.

The Airtel Payments Bank Smart Watch allows users to make transactions ranging from Rs 1 to Rs 25,000 per day. This feature, along with Airtel Payments Bank's collaboration with Noise and Mastercard, highlights the bank's commitment to digital payment solutions, providing users with a convenient and innovative way to make contactless payments.

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.