 Credit rating agency Fitch has stated that India's economic growth will accelerate to 7.3% in the current financial year (2018-19) and 7.5% in the next fiscal (2019-20). In its second-quarter Sovereign Credit Overview for Asia Pacific region, Fitch stated the growth rate will accelerate as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of GST have diminished. |
| Source- DD News |
| Indian tea industry has recorded the highest ever production as well as exports in FY18. The total tea production was 1325.05 million kgs, an increase of 74.56 million kgs as compared to 2016-17. In percentage terms, the increase is around 6%. Similarly, the total quantity of tea exported during the financial year 2017-18 stood at 256.57 million kgs, while the foreign exchange realized from exports of Indian tea was $ 785.92 million. The quantity of tea exports increased by 12.71% to 28.94 million kgs during 2017-18. The growth in exports was majorly driven by the following countries: Egypt (increased by 7.49 million kgs), Iran (increased by 6.95 million kgs), Pakistan (increased by 4.96 million kgs), China (increased by 2.91 million kgs) and Russia (increased by 2.89 million kgs). |
| Source- The Economic Times |
 YES Bank is all set to roll out a capacity building project with farmers in Haryana and Rajasthan under its ‘Livelihood and Water Security’ CSR initiative. The overall focus of the programme would be on sustainable agricultural practices and digital literacy. |
| Source- The Hindu Business Line |
 India’s total export of finished steel increased by 16.7% to 9.6 million tonnes, in 2017-18. The country exported 8.2 million tonnes finished steel during 2016-17 fiscal, according to the Joint Plant Committee report. Empowered by Ministry of Steel, Joint Plant Committee is the only institution which collects data on the Indian iron and steel industry. |
| Source- AIR World Service |
 The Reserve Bank of India (RBI) announced that it would buy Rs. 10,000 crore ($1.50 billion) of government bonds via open market operation (OMO), after failing to sell all the debt it had offered to bidders. The 10-year government bond yield rose to 7.75% from 7.74% before the auction result was announced. The eligible participants should submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
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| Source- The Moneycontrol |
 Asian Development Bank Chief Economist Yasuyuki Sawada has stated India's projected GDP growth of over 7 percent for the current fiscal (2018-19) is amazingly fast and if this momentum is maintained the size of the economy can double within a decade. According to ADB, India should not worry about not achieving 8 percent growth but focus on increasing domestic demand by reducing the income inequality. |
 HDFC Bank launched IRA 2.0, its interactive humanoid at the Koramangala Branch in Bengaluru. The interactive humanoid in its advance version is aimed to enhance user experience for customers visiting in the branch. HDFC Bank has developed IRA (Interactive Robotic Assistant) 2.0 in collaboration with its technology partners Invento Makerspaces and Senseforth Technologies. It became the first bank in India to introduce a humanoid IRA 1.0 for customer service at the Kamala Mills Branch in Mumbai. Currently, IRA 1.0 is stationed at the Palarivattom Branch in Kochi. |
| Source- The Hindu |
 National Stock Exchange of India (NSE) has announced the launch of its "e - Gsec" platform for facilitating the non-competitive bidding in Government of India Dated Securities (G-Sec) and Treasury Bills (T-Bills). This will allow retail investors to invest in Government Securities and hold them in existing demat accounts. The non-competitive bidding facility was introduced by the Reserve Bank of India (RBI) to encourage retail participation in the primary market for Government Securities. |
| Source- Business Standard |
 According to the Development bank NABARD, it has provided an assistance of Rs 10,012 crore to Uttar Pradesh during 2017-18 to facilitate overall development with special focus on agricultural credit. This has been achieved through commercial banks, RRBs and cooperatives, infrastructure development through dedicated funds, strengthening of rural financial institutions, women empowerment through Self Help Groups, micro-finance and several other new initiatives. |
| Source- The Economic Times |
 Paytm Payments Bank now has over 100 million KYC wallets, against the constant campaigning done by the bank about the benefits of the Know Your Customer (KYC) system. The bank has introduced several options that include Paytm KYC centres and 'Paytm-Ka-ATM' outlets to offer more localised support. Customers can locate these through the 'Nearby' section on the Paytm app. |
| Source- ANI News |
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