Current Affairs - Finance

Japan has pledged Rs 12,800 crore for nine pivotal projects across India, focusing on enhancing infrastructure, healthcare, and innovation. This move signifies the strengthening of the strategic partnership between India and Japan, a relationship that has been thriving for decades.

The government has increased the authorized capital of the Food Corporation of India (FCI) from ₹10,000 crore to ₹21,000 crore, demonstrating a significant commitment to enhancing its operational capacities. This initiative aims to strengthen FCI's role in ensuring food security and safeguarding farmers' interests.

The Life Insurance Corporation of India (LIC) introduced 'Amritbaal', a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan. This product, tailored for children, aims to address their financial needs, particularly for education and other significant expenses, marking LIC's commitment to offering comprehensive financial solutions for diverse demographics.

Serum Institute Of India (SII) led by Adar Poonawalla, has been named India's most valuable unlisted firm with a valuation of Rs 1.92 lakh crore according to the Burgundy Private Hurun India 500 list. This reflects SII's significant role in healthcare and its economic impact.

PayU, a fintech giant, has collaborated with NPCI to introduce the innovative 'Credit Lines on UPI' feature for merchants. This integration within the PayU application enhances digital payment acceptance by providing pre-sanctioned credit lines, offering financial flexibility to merchants and consumers alike.