Current Affairs - Finance

Chhattisgarh has introduced the Mahtari Vandana Yojana 2024, providing monthly economic assistance of ₹1000 to women, with a total annual aid of ₹12,000, aimed at empowering them through financial support.

Luxembourg has emerged as the third-largest country for FPIs in India, exceeding Mauritius, with its Assets Under Custody (AUC) growing by 30% to ₹4.85 lakh crore. Globally, Luxembourg's equity assets are now second only to the United States, attributed to strengthened India-Europe ties and collaborations, including those with GIFT City.

LIC's board approved acquiring a 10% stake in a company promoted by the National Housing Bank (NHB) for residential mortgage-backed securities through equity contribution in one or more tranches.

Zerodha Fund House introduced the Growth Liquid ETF, emphasizing low credit risk and interest rate risk in short-term debt products. The fund mirrors the Nifty 1D Rate Index, tracking returns from overnight market lending.

The groundbreaking UPI-PayNow linkage, announced by the NPCI, has opened avenues for real-time remittances from Singapore to India. Major UPI and bank apps, such as SBI, Axis, ICICI, BHIM, PhonePe, and Paytm, have been enabled for this service. This collaboration marks a significant advancement in facilitating instant, secure, and cost-effective cross-border transactions between India and Singapore.