Current Affairs - Finance

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.

The Japan International Cooperation Agency (JICA) has been a crucial financial contributor to the Atal Setu project, Mumbai, covering 80% of the total cost. This support underscores the collaborative efforts between India and Japan in enhancing infrastructure, with the remaining project cost shared by the state and central governments.

SBI, represented by Chief General Manager Shantanu Pendsey, signed an MoU with DAY-NRLM for the 'Svyam Siddha' financial product, aiming to facilitate enterprise financing for self-help group (SHG) women in rural India.

Maharashtra has emerged as the leader in the number of investors on the NSE, boasting 1.49 crore registered investors in 2023. This surge of 22% in the NSE investor base reflects a significant increase in retail investor participation.

The State Bank of India, in response to the growing demand in the domestic Environmental, Social, and Governance (ESG) financing market, secured $1 billion through a Syndicated Social Loan. The issuance comprised $750 million, with an additional $250 million as a green shoe option, as disclosed in the regulatory filing made by SBI.