News Analysis India

Tag: Monetary

  • US Preschool Teacher Wins $250,000 Lottery After Losing Job Amid COVID-19

    A North Carolina preschool teacher who had recently lost his job as a teacher and his father to the coronavirus infection has won $250,000 in a lottery. Joe Camp was laid off in September as the schools had to resort to slashing the staff due to the monetary crisis amid the coronavirus crisis. The dad and grandfather bought the NC lottery “Gold Rush” ticket for the family and “fell on his knees” at the gas pump station after he scratched his prize. In a news release to NC, the Charlotte resident said that he plans to buy a new home which will be inherited by his grandkids, and pay for his daughter’s education that he previously was struggling to afford. “It put me in a dark place,” said Camp in the release, adding that he had a lot of friends and family that told him to “keep sticking in there, keep believing in myself.” 

    “Thursday morning, I went to the store and bought a scratch-off ticket like I usually do,” Camp said. “And I bought two tickets. I didn’t win on the first one, so I tried the second and I scratched it off, and I fell to my knees at the gas pump,” Camp said in the release. He added that he had been submerged under the mountain hardships and just when he had thought life couldn’t have been any harder, he won the lottery.

  • CM Rupani inaugurates ‘Big Banks of Small People’ for monetary aid to small businesses

    Gujarat Chief Minster Vijay Rupani today virtually inaugurated 15 branches of Jana Small Finance Bank of Gujarat from Gandhinagar. Self-employed people will be able to contribute in realizing the dream goal set by our Prime Minister Narendra Modi of making India a five trillion-dollar economy by getting loan from such banks.

    Rupani said that bank which gives small amount loans to individuals associated with small business without IT return, mortgage or GST number is the need of the hour. It is necessary that such credit reaches to such small business owners to make the country’s economy a five trillion-dollar economy.

    The Chief Minister suggested that the Jan Small Finance Bank, functioning as the largest bank for such small business owners in the state, to cooperate in the schemes of the state government in providing financial assistance to the common man.

    In this regard, CM expressed his expectation of the bank’s cooperation in providing financial assistance to women’s groups under the Mukhyamantri Mahila Utkarsh Yojana.

  • Foreign exchange reserves again set a record, reached 560 billion dollars

    Under the leadership of Prime Minister Narendra Modi, the country’s economy is growing rapidly. The foreign exchange reserves have once again set a record due to the policies of the Modi government. The country’s foreign exchange reserves increased by $ 5.412 billion to $ 560.532 billion for the week ended October 23. This is the highest level ever. According to the latest data of the Reserve Bank, the significant share of foreign exchange reserves during this period, ie, foreign currency assets increased by $ 5.202 billion to reach $ 517.524 billion. Gold reserves rose by $ 175 million this week to $ 36.860 billion. Foreign exchange reserves crossed the $ 500 billion mark for the first time in the week ending June 5, 2020. Earlier, on September 8, 2017, it crossed the $ 400 billion mark for the first time. Whereas the foreign exchange reserves in 2014 were close to $ 311 billion during the UPA regime.
    The International Monetary Fund (IMF) in its latest report on the ‘world economic scenario’ has said that India will overtake China next year. The IMF said that India’s economy is expected to decline in the current financial year due to Corona, but the economy will be able to make a quantum leap in the next financial year. The International Monetary Fund has said that the Indian economy is expected to register a strong growth of 8.8 percent in 2021 and will regain the status of the fastest growing emerging economy, overtaking China. China is projected to achieve 8.2 percent growth in 2021.