Economy

ICICI Bank Launched India’s Contactless Credit and Debit Cards
ICICI Bank, the country’s largest private sector one, on 7 January launched contactless credit cards and debits cards called Coral Contactless Credit Card and Expressions Wave Debit Card respectively. These cards will enable customers to make electronic payments by waving the cards near a merchant terminal instead of dipping or swiping the cards.


India’s Growth To Reach 6.3 percent In 2016
According to the United Nations World Economic Situation and Prospects (WESP) 2015 report released on 14 January, India’s growth in terms of GDP is expected to reach 5.9 per cent in 2015 and 6.3 per cent in 2016.
Highlights of Report :-
India:- Its growth recovery is partly the result of improved market sentiment after the new government took office in the second quarter of 2014 and had announced plans to reform the bureaucracy, labour laws and public subsidies.
South Asia:- Economic growth in South Asia is set to gradually pick up from an estimated 4.9 percent in 2014 to 5.4 percent in 2015 and 5.7 percent in 2016. India, will account for about 70 percent of regional output in South Asia.
* Average inflation in this region is expected remain moderate at 7.8 percent in 2015 and 7.2 percent in 2016, as commodity prices are likely remain subdued and domestic demand picks up gradually.
Global Economy:- It is expected to grow at 3.1 percent in 2015 and 3.3 percent in 2016, compared with an estimated growth of 2.6 percent in 2014.


World Economic Situation and Prospects 2015 Report Released
United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on 19 January 2015 released World Economic Situation and Prospects (WESP) 2015 report. The report projects that the regional growth will pick up in 2015-16, as average GDP growth will accelerate from 5.0 percent in 2014 to 5.3 percent in 2015 and 5.7 percent in 2016.The report has highlighted that the South Asia’s economic growth is set to reach a four-year high in 2015. The average gross domestic product (GDP) growth of South Asia accelerated from 3.7 percent in 2013 to 4.9 percent in 2014, and is projected to strengthen further to 5.4 percent in 2015 and 5.7 per cent in 2016.


Pradhan Mantri Jan Dhan Yojana scheme sets Guinness Record
Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme was conferred with the Guinness record on 20 January 2015. The PMJDY scheme created a Guinness World Record for opening the maximum number of bank accounts in the shortest possible time. Altogether, 11.5 crore accounts have been opened under the scheme in less than five months. The scheme was launched on 28 August 2014 with a target of 7.5 crore till 26 January 2015. The Guinness authorities officially handed a certificate to Union finance minister Arun Jaitley in Delhi on 20 January 2015. Pradhan Mantri Jan Dhan Yojana is government’s flagship financial inclusion programme that was launched on 28 August 2014 to help people in opening bank accounts.


 

2 Responses to “January 2015 Economy Current Affairs”

  • sekarkarthik99 says:

    thank you

  • sekarkarthik99 says:

    thank

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