Weekly Current Affairs (11th February to 17th February 2024)

Category : Business and economics Published on: February 18 2024

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Indian Oil-Adani Gas joint venture plans to invest Rs. 2,500 crore over four years to increase gas sales to small industries and households in India.
The Cabinet approved the telecom spectrum auction across multiple bands with a base price of Rs. 96,317.65 crore.
SpiceJet plans to lay off 1400 employees, which accounts for approximately 15% of its existing workforce, in order to reduce costs and maintain investor confidence.
India's foreign exchange reserves surged to a one-month high of $622.47 billion, as reported by the RBI.
India introduced UPI and Rupay Card services in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and the top leadership of the two island nations on February 12.
Paytm E-commerce rebrands to Pai Platforms and strategically acquires ONDC seller Bitsila, making significant strategic moves.
EPFO has increased the interest rate on deposits to 8.25% from 8.15% for the fiscal year 2023-24.
Universal Sompo General Insurance introduces Eyewear Insurance cover to cater to the increasing need for protecting eyeglasses in today's digital era.
Kalyani Group plans to invest INR 26,000 Crore in Odisha for setting up an aerospace components manufacturing complex.
JSW Steel and Japan's JFE Steel are set to invest $663 million in their 50:50 joint venture to establish a plant in Karnataka, India.
LIC has increased its stake in SBI Cards & Payments Services Limited from 4.99% to 5.02% of the paid-up capital.
Wipro expands its presence in the insurance technology sector with the acquisition of Aggne Global, a US-based insuretech firm, in a $66 million deal.
Reliance Industries Ltd (RIL) achieved a historic milestone by becoming the first Indian company to surpass the Rs 20 lakh crore market capitalization mark.
IRDAI has issued draft rules for Bima Sugam, a digital insurance marketplace, formed under the Companies Act, 2013, as a not-for-profit entity.
The National Coal Index (Provisional) witnessed a notable decline of 4.75% in December 2023 compared to the same period in 2022, dropping to 155.44 points from 163.19 points.
PayU and NPCI have joined forces to introduce the 'credit line on UPI' feature, enabling merchants to accept UPI payments via pre-sanctioned credit lines.

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