Current Affairs - Finance

India's equity market, boasting a market capitalization of $4.33 trillion, has secured the 4th position globally, surpassing Hong Kong's Hang Seng. This achievement highlights India's strong economic standing fueled by a growing retail investor base and stable fundamentals.

The National Rooftop Solar Scheme extends significant support, offering 40% financial assistance for the capital cost of solar rooftop projects. This initiative, coupled with the 'Pradhan Mantri Suryodaya Yojana,' aims to foster self-reliance in energy and encourages widespread adoption of rooftop solar installations.

REC Limited received the prestigious ICAI award for financial reporting, securing the 'Plaque' under the 'Financial Services Sector (Other than Banking and Insurance)' category at the ICAI Awards for Excellence in Financial Reporting. The recognition from the Institute of Chartered Accountants of India (ICAI) highlights REC Limited's excellence in financial reporting for the year 2022-23.

Life Insurance Corporation of India (LIC) achieved a significant milestone by surpassing the State Bank of India (SBI) in market capitalization. With LIC's share price rising over 2% to reach 52-week highs of ₹919.45, its market cap exceeded ₹5.8 Lakh Crore, making it the most valuable PSU. The article explores LIC's impressive comeback, its journey since listing, and the contributing factors to its remarkable revival.

The ‘Money2India (Canada)’ app is a distinctive offering from ICICI Bank Canada, specifically designed to streamline cross-border fund transfers to India for Canadian customers. It enables 24/7 transactions without requiring an account with ICICI Bank Canada, providing a user-friendly and accessible platform.