Current Affairs - Finance

Uttar Pradesh has emerged as the top recipient among states, securing ₹22,857.9 crore (14% of the total release) out of the ₹1,67,518.6-crore special assistance (loan) allocated by the Centre under the Scheme for Special Assistance to States for capital expenditure/investment in the last four years.

The recent government decision has increased the interest rate for the Sukanya Samriddhi Account Scheme (SSAS) to 8.2%, marking an adjustment from the previous rate of 8%.

Kerala bears the highest financial burden for national highway development, as per the document presented by the Ministry for Road Transport and Highways, owing to norms requiring states to cover 25% of the land acquisition cost.

Indian banks achieved a remarkable 12.2% consolidated balance sheet growth in the fiscal year 2022-23, as highlighted in the RBI report, emphasizing the need for ongoing fortification through governance.

India's foreign exchange reserves reached a 20-month high, totalling $616 billion in the week ending December 15, marking the highest level since March 2022.