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Follow us: Telegram , Youtube , Instagram August 2023 | CURRENT AFFAIRS 1 Live Current Affairs At 5:45 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams  About Abhijeet Mishra Follow u...

Follow us: Telegram , Youtube , Instagram August 2023 | CURRENT AFFAIRS 1 Live Current Affairs At 5:45 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams  About Abhijeet Mishra Follow us: Telegram , Youtube , Instagram August 2023 | CURRENT AFFAIRS 2 Live Current Affairs At 5:45 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams  CONTENT 1. Ranking/ Report/ Indices 1-9 2. Appointment & Resignation 10-20 3. Banking/ Finance/ Economy 21-42 4. MoUs & Agreements 43-52 5. Merger & Acquisition 53-54 6. National News 54-76 7. Inauguration News 76-79 8. International News 80-83 9. Sports News 84-94 10. Awards & Honours 94-106 11. Summits & Conference 106-111 12. Defence News 111-115 13. Festival & Fairs 115-116 14. Science & Tech 116-119 15. Books & Authors 119-121 16. Obituaries News 121-123 17. Important Days 123-129 18. State/UT News 129-135 19. Extra Highlights 135-136 Follow us: Telegram , Youtube , Instagram August 2023 | CURRENT AFFAIRS 3 Live Current Affairs At 5:45 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams  Ranking/ Report/ Indices News-1 India ranks 93 out of 180 countries in corruption perceptions index 2023 Report Name Corruption perceptions index for 2023 Published by Transparency International Total Countries 180 Scale 0 to 100, where 0 is highly corrupt and 100 is very clean Highlights of the report: India ranked 93 out of 180 countries on the corruption perceptions index for 2023 as its overall score remained largely unchanged, according to a Transparency International report. In 2023, India's overall score was 39 while in 2022, it was 40. India's rank in 2022 was 85. Ranking of top 5 & last countries: Rank Country Score 1 Denmark 90 2 Finland 87 3 New Zealand 85 4 Norway 84 5 Singapore 83 20 United Kingdom 71 24 United States 69 180 Somalia 11 Ranking of India & its neighbouring countries: Rank Country Score 26 Bhutan 68 76 China 42 93 India 39 108 Nepal 35 115 Sri Lanka 34 133 Pakistan 29 149 Bangladesh 24 162 Afghanistan, Myanmar 20 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 1 News-2 India home to 718 snow leopards; Ladakh highest with 477: SPAI report Report Name Snow Leopard Population Assessment in India (SPAI) report Published by Snow Leopard Population Assessment in India (SPAI) Highlights of the report: India is home to around 718 snow leopards, according to the first-ever population estimation exercise conducted by the Snow Leopard Population Assessment in India (SPAI) Programme. The recent status surveys have significantly increased understanding, providing preliminary information for 80 per cent of the range (about 79,745 square kilometres), compared to 56 per cent in 2016. The species is found in 12 countries, Afghanistan, Bhutan, China, India, Kazakhstan, Kyrgyzstan, Mongolia, Nepal, Pakistan, Russia, Tajikistan, and Uzbekistan, and its global population is estimated at 3020 to 5390 , according to the Global Snow Leopard and Ecosystem Protection Program. Ranking of top 5 states/UTs: Rank State/UT Number of Snow leopard 1 Ladakh 477 2 Uttarakhand 124 3 Himachal Pradesh 51 4 Arunachal Pradesh 36 5 Sikkim 21 6 Jammu and Kashmir 9 News-3 Mukesh Ambani ranked first in Brand Guardianship Index 2024 among Indians, second globally Report name Brand Guardianship Index 2024 Published by Brand Finance Highlights of the report: Reliance Industries Limited (RIL) chairman and managing director Mukesh Ambani has been ranked first among all the Indians and second globally in the Brand Guardianship Index 2024. Brand Finance's survey gave Mukesh Ambani a BGI score of 80.3, just below 81.6 of Huateng Ma of China- based Tencent. Ranking of top 5 in Brand Guardianship Index 2024: Rank Person Company Country 1 Huateng Ma Tencent China 2 Mukesh Ambani Reliance Group India 3 Jensen Huang NVIDIA United States 4 Tim Cook Apple United States Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 2  5 Natarajan Chandrasekaran Tata Sons India Ranking of top 5 Indians in Brand Guardianship Index 2024: Rank Person Company 2 Mukesh Ambani Reliance Group 5 Natarajan Chandrasekaran Tata Sons 6 Anish Shah Mahindra 16 Salil Parekh Infosys 22 Sashi Jagdishan HDFC Bank News-4 IIRF’s Top MBA Colleges in India 2024 Report Name Top Master of Business Administration (MBA) Colleges in India – 2024 Published by Indian Institutional Ranking Framework (IIRF) Highlights of the report: Indian Institute of Management (IIM), Ahmedabad (Gujarat), has topped among the Top Government MBA colleges in India. In the 2024 MBA Colleges ranking, Xavier Labour Relations Institute (XLRI), Jamshedpur (Jharkhand), has topped among the Top Private MBA colleges in India. Top 5 Business Schools in India: Government Rank Government Business Schools 1 IIM Ahmedabad, Gujarat 2 Faculty of Management Studies(FMS), University of Delhi, Delhi 3 IIM Calcutta, Kolkata, West Bengal 4 IIM Bangalore, Benglauru, Karnataka 5 IIM Kozhikode, Kerala Top 5 Business Schools in India: Private Rank Government Business Schools 1 Xavier Labour Relations Institute (XLRI), Jamshedpur, Jharkhand 2 Management Development Institute (MDI), Gurugram, Haryana 3 S P Jain Institute of Management & Research (SPJIMR), Mumbai, Maharashtra 4 Symbiosis Institute of Business Management, Pune, Maharashtra Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 3  5 Symbiosis Centre For Management & Human Resource Development (SCMHRD), Pune, Maharashtra News-5 India ranks 3rd in USGBC's global list on green building certification for 2023 Report Name Annual list of top 10 countries and regions in the world for LEED (Leadership in Energy and Environmental Design) certification in 2023 Published by US Green Building Council's (USGBC) Highlights of the report: India ranked third in the US Green Building Council's (USGBC) annual list of top 10 countries and regions in the world for LEED (Leadership in Energy and Environmental Design) certification in 2023. The United States has not been included in the list. 248 projects, across both buildings and spaces, were certified for LEED in the country covering 7.23 million Gross Square Metres (GSM). Ranking of top 5 Countries in list of top 10 countries and regions in the world for LEED certification 2023: Rank Country/Region Project Count Square Feet 1 Mainland China 1,563 264,287,540.13 2 Canada 280 85,421,062.41 3 India 248 77,891,785.74 4 Turkey 36 31,335,904.56 5 Brazil 119 28,042,859.15 10 Mexico 86 17,394,234.77 News-6 India Ranks 38th Out Of 139 Countries In The World Bank’s LPI Report 2023 Report Name Logistics Performance Index (LPI) Report Published by World Bank Parameters Customs, Infrastructure, Ease of arranging shipments, Quality of logistics services, Tracking and Tracing, and Timeliness Highlights of the report: India has significantly climbed in the Logistics Performance Index (LPI) ranking, securing the 38th position out of 139 countries, according to the World Bank’s report. This progress reflects a substantial leap from its previous positions of 44 in 2018 and 54 in 2014. Ranking of top 3 and last countries: Rank Country 1 Singapore 2 Finland Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 4  3 Denmark, Germany, Netherlands, Switzerland 17 United States 19 United Kingdom 138 Afghanistan, Libya Ranking of India and its neighbouring countries: Rank Country 19 China 38 India 73 Sri Lanka 88 Bangladesh 97 Bhutan 138 Afghanistan News-7 Unemployment rate declines to 6.5% in Oct-Dec: PLFS Report Name Periodic Labour Force Survey (PLFS) Published by National Sample Survey Office Highlights of the report: India's unemployment rate in urban areas for persons aged 15 years and above decreased during October- December 2023 to 6.5 percent from 7.2 percent in the year-ago period, as per government data. Considering the importance of the availability of labour force data at more frequent time intervals, the NSSO launched the Periodic Labour Force Survey (PLFS) in April 2017. For male, UR (Unemployment Rate) decreased from 6.5 per cent in October-December 2022 to 5.8 per cent in October-December 2023. While for female UR decreased from 9.6 per cent in October-December 2022 to 8.6 per cent in October- December 2023. Worker Population Ratio (WPR) for persons aged 15 years and above in urban areas increased from 44.7 per cent in October-December 2022 to 46.6 per cent in October-December 2023. Labour Force Participation Rate in urban areas increased from 48.2 per cent in October-December 2022 to 49.9 percent during the period under review for persons aged 15 years and above. News-8 India 3rd largest digitalised country among G20 nations: Report Report India's Digital Economy Report, 2024 Published by Indian Council for Research on International Economic Relations Highlights of the report: India is the third largest digitized country in the world, only behind the United States of America and China. The state of digitalisation in India is better than some developed countries including the United Kingdom, Germany and Japan, compared by their aggregate level of digital-isation. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 5  The study is based on the ‘CHIPS’ framework wherein it has scored countries on five pillars - connect, harness, innovate, protect and sustain. The report also benchmarked the scale and depth of India's digital transformation with respect to G20 countries as well as for Indian states and UTs. Top 5 Countries using the CHIP(S) framework: Rank Country 1 USA 2 China 3 India 4 UK 5 Germany Top 3 States/UT using the CHIP(S) framework: Rank States/UT Among Large States 1 karnataka 2 Maharashtra 3 Telangana Among Small States/UT 1 Delhi 2 Chandigarh 3 Mizoram News-9 Reliance Industries tops the list of India's most valuable companies in Burgundy Private and Hurun India report Report Name 2023 Burgundy Private and Hurun India 500 report Published by Burgundy Private and Hurun India Highlights of the report: Reliance Industries (RIL) has for the third year topped the list, this time followed by Tata Consultancy Services and HDFC Bank. The 2023 Burgundy Private and Hurun India 500 report based on records the total market capitalization of Reliance Industries at Rs 15.6 lakh crore. India’s most valuable companies in the 2023 Burgundy Private Hurun India 500 have a cumulative value of USD 2.8 trillion (INR 231 lakh crore) which is more than the combined GDP of Saudi Arabia, Switzerland, and Singapore. Ranking of top 5 in 2023 Burgundy Private and Hurun India 500 report: Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 6  Rank Company 1 Reliance Industries 2 Tata Consultancy Services 3 HDFC Bank 4 ICICI Bank 5 Infosys 2023 Burgundy Private Hurun India 500 Top 5 unlisted companies: Rank Company 1 Serum Institute of India 2 National Stock Exchange of India 3 Megha Engineering and Infrastructure 4 Zoho Corporation 5 Swiggy Top 5 Cities and States of the 2023 Burgundy Private Hurun India 500 States/UTs Rank Company 1 Maharashtra 2 Karnataka 3 Tamil Nadu 4 Delhi 5 Haryana Cities Rank Company 1 Mumbai 2 Bengaluru 3 New Delhi 4 Chennai 5 Gurugram News-10 PM Modi emerges as most popular global leader, tops the charts with high 78% approval rating Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 7  Report Global Leader Approval Rating Published by Morning Consult Highlights of the report: Indian Prime Minister Narendra Modi continued to remain at the top spot as the most popular global leader with an impressively high approval rating of 78%. Mexican President Andrés Manuel López Obrador secured the second spot with an approval rating of 65 per cent. United States President Joe Biden trailed behind by a huge margin. He grabbed the 11th spot in the list with 37 percent of people approving his leadership. Ranking of Top 5 leaders: Rank Leader Rating 1 Narendra Modi (India) 78% 2 Andres Manuel Lopez Obrador (Mexico) 65% 3 Javier Milei (Argentina) 63% 4 Donald Tusk (Poland) 52% 5 Viola Amherd (Switzerland) 51% News-11 ICA’s World Cooperative Monitor 2023: IFFCO tops among Top 300 Cooperatives in world Report 2023 edition of the World Cooperative Monitor (WCM) Editon 12th Published by International Cooperative Alliance (ICA) Highlights of the report: India’s Indian Farmers Fertiliser Cooperative (IFFCO) Limited has topped the Top 300 Cooperatives ranking based on the ratio of turnover over GDP(gross domestic product) per capita under the Agriculture and Food Industries section. India’s Gujarat Cooperative Milk Marketing Federation Limited(AMUL) has been ranked 2nd followed by France’s Groupe Crédit Agricole at 3rd. IFFCO has been ranked 72nd in the ranking of Top 300 Largest Cooperative and Mutual Organisations based on Turnover. IFFCO was ranked 97th in the 2022 report. Top 5 Cooperatives by Turnover/GDP per Capita: (Agriculture and Food Industries section) Rank Organisation Country Turnover/GDP per capita (USD) 1 IFFCO India 3,321,512.57 2 AMUL India 2,809,573.69 3 Groupe Credit Agricole France 2,680,001.60 4 Sistema Unimed Brazil 2,027,885.39 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 8  5 Copersucar SA Brazil 1,803,571.29 Top 3 Organisation by Turnover (Agriculture and Food Industries section): Rank Organisation Country Turnover/GDP per capita (USD) 1 Nonghyup (National Republic of 61.17 Agricultural Cooperative Korea(South Federation – NACF) Korea) 2 National Federation Of Japan 38.91 Agricultural Cooperative Associations – ZENNOH 3 CHS Inc The United States 38.45 of America (USA) Appointment & Resignation News-1 ACC approves Sanjay Mudaliar as Bank of Baroda Executive Director Appointed Person Sanjay Vinayak Mudaliar Appointed as Executive Director at Bank of Baroda News-2 Champai Soren to be next Jharkhand CM after Hemant Soren arrested by ED Appointed Person Jharkhand transport minister Champai Soren Appointed as Chief minister of Jharkhand Replaced Hemant Soren Extra Info: Jharkhand's Hemant Soren became the third state chief minister to be arrested. Before Hemant Soren, his father Shibu Soren and Madhu Koda were arrested. Champai Soren is also known as the “Tiger of Kolhan”. News-3 Justice P.S. Dinesh Kumar appointed Chief Justice of Karnataka High Court Appointed Person Justice Pratinidhi Srinivasacharya Dinesh Kumar Appointed as Chief Justice of Karnataka High Court Replaced Justice Prasanna B Varale News-4 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 9 Murali DK set to be next CMD of BECIL Appointed Person Murali DK Appointed as Chairman & Managing Director (CMD) of Broadcast Engineering Consultants India Limited (BECIL) News-5 Manish Kumar takes additional charge as CMD of NCL Appointed Person Manish Kumar Appointed as Chairman-cum-Managing Director (CMD) of Coal India arm Northern Coalfields Ltd Replaced Bhola Singh News-6 Jai Prakash Dwivedi appointed CMD of Western Coalfields Limited Appointed Person Jai Prakash Dwivedi Appointed as Chairman-cum-Managing Director (CMD) of Coal India arm Western Coalfields Limited News-7 Sanjay Verma takes the oath of office and secrecy as Member UPSC Appointed Person Sanjay Verma Appointed as Secrecy as Member, UPSC News-8 Govt appoints four new members to 16th Finance Commission Appointed Person Ajay Narayan Jha, Annie George Mathew, Niranjan Rajadhyaksha Appointed as Full-time member of 16th Finance Commission Appointed Person Soumya Kanti Ghosh, Group Chief Economic Advisor of public sector lender State Bank of India (SBI) Appointed as Part-time member of 16th Finance Commission All about the finance commission: Constituted by President of India Constituted under Article 280 of Indian constitution Constituted in Every fifth year Total member 5 (1 Chairman & 4 menners) Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 10  1st commission formed 22 November 1951 1st Chairman K. C. Neogy 15th Commission formed November 27, 2017 15th Commission period 2021-22 to 2025-26 15th Commision chairman Nand Kishore Singh Other members of 15th commission Ajay Narayan Jha, Dr. Anoop Singh, Dr. Ashok Lahiri, Dr. Ramesh Chand 16th Commission period April 1, 2026 to March 31, 2031 16th Commission chairman Dr Arvind Panagariya 16th Commission Secretary Ritvik Ranjanam Pandey News-9 Bandhan Bank appoints Santosh Nair as its consumer lending and mortgages head Appointed Person Santosh Nair Appointed as Head of consumer lending and mortgages of Bandhan Bank News-10 Pawan Kumar has assumed charge as Chief Adviser (Cost) at Department of Expenditure under the Ministry of Finance Appointed Person Pawan Kumar Appointed as Chief Adviser (Cost), Department of Expenditure, Ministry of Finance News-11 Jay Shah Re-appointed as President of Asian Cricket Council for 3rd Term Appointed Person Jay Shah, Secretary of the Board of Control for Cricket in India (BCCI) Appointed as President of the Asian Cricket Council (ACC) for the 3rd consecutive term Extra info He took charge as President of ACC in January 2021 succeeding Nazmul Hassan, President of Bangladesh Cricket Board News-12 BK Tiwari set to be Director-in-charge of SAIL's Bokaro Steel Plant Appointed Person Birendra Kumar Tiwari Appointed as Director-in-charge of Steel Authority of India’s (SAIL) Bokaro Steel Plant News-13 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 11 Mahindra Holidays & Resorts announces key leadership succession; Group CFO Manoj Bhat appointed as new MD & CEO Appointed Person Manoj Bhat Appointed as Managing Director & CEO of Mahindra Holidays & Resorts India Limited (MHRIL) Replaced Kavinder Singh News-14 AU Small Finance Bank Appoints HR Khan as Non-Executive Chairman Appointed Person Harun Rashid Khan Appointed as Non-Executive Chairman of AU Small Finance Bank Replaced Raj Verma News-15 GoI Notifies Appointment of Chief Justices to Seven High Courts High Court Appointed Person Replaced Meghalaya Justice S. Vaidyanathan Justice Hamarsan Singh Thangkhiew Allahabad Justice Arun Bhansali Justice Manoj Kumar Gupta Gauhati Justice Vijay Bishno Justice Lanusungkum Jamir Orissa Justice Chakradhari Sharan Singh Justice Bidyut Ranjan Sarangi Uttarakhand Justice Ritu Bahri (1st Women CJ of UK) Justice Manoj Kumar Tiwari Rajasthan Justice Manindra Mohan Shrivastava Justice Manindra Mohan Shrivastava Punjab & Haryana Justice Gurmeet Singh Sandhawalia (ACJ) Justice Ritu Bahri News-16 Ranveer Singh Joins boAt as a Stakeholder and Brand Ambassador Appointed Person Ranveer Singh Appointed as Brand Ambassador of boAt News-17 Lieutenant General Upendra Dwivedi Appointed Army Vice Chief Appointed Person Lieutenant General Upendra Dwivedi Appointed as Army Vice Chief Replaced Lt Gen MV Suchindra Kumar News-18 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 12 Michelle O’Neill Becomes Northern Ireland’s First Minister Appointed Person Michelle O’Neill, an Irish nationalist representing Sinn Fein Appointed as Northern Ireland’s First Minister Appointed Person Emma Little-Pengelly Appointed as Deputy First Minister News-19 Yemen Appoints Ahmed Awad bin Mubarak as New Prime Minister Appointed Person Foreign Minister Ahmed Awad bin Mubarak Appointed as Prime Minister of Yemen Replaced Maeen Abdulmalik Saeed News-20 Punjab Governor Banwarilal Purohit Resigns Resigned Person Punjab Governor and Chandigarh Administrator Banwarilal Purohit Resigned as Governor of Punjab News-21 Ravi Kumar Jha appointed MD & CEO of LIC Mutual Fund Appointed Person Ravi Kumar Jha Appointed as Managing Director and Chief Executive Officer of LIC Mutual Fund Asset Management Limited News-22 Tata AIA Life appoints Venkatachalam H as MD and CEO Appointed Person Venkatachalam H Appointed as Managing Director and Chief Executive Officer of Tata AIA Life Insurance Replaced Naveen Tahilyani News-23 Nayib Bukele re-elected as President of El Salvador for 2nd Term Appointed Person Nayib Armando Bukele Ortez Appointed as President of El Salvador (2nd term) Extra Info Nayib Bukele, the founder of Nuevas Ideas (New Ideas) political party, has been serving as the President of El Salvador since 2019 News-24 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 13 Olzhas Bektenov becomes the Youngest PM of Kazakhstan Appointed Person Olzhas Bektenov (43 years) Appointed as Prime Minister of Kazakhstan Replaced Alikhan Smailov Extra info Olzhas Bektenov is the youngest PM in Kazakhstan’s history News-25 Asian Development Bank appoints Mio Oka as Country Director for India Appointed Person Mio Oka Appointed as Country Director for India of Asian Development Bank (ADB) Replaced Takeo Konishi News-26 IRS Officer Narendra Kumar Yadav Appointed As Brand Ambassador For Fit India Movement Appointed Person Narendra Kumar Yadav Appointed as First civil servant to be appointed as a brand ambassador for the Fit India Movement Extra info Fit India Movement was launched by Prime Minister Narendra Modi in 2019 to make fitness an integral part of everyone’s daily lives. News-27 Ajay Kumar Choudhary Appointed Non-Executive Chairman of NPCI Appointed Person Ajay Kumar Choudhary Appointed as Non-executive chairman and independent director of National Payments Corporation of India (NPCI) News-28 Southern Railway Appoints First Trans Woman TTE, Breaks Barriers in Dindigul Appointed Person Sindhu Ganapathy Appointed as First trans woman Travelling Ticket Examiner (TTE) of Southern Railway News-29 Lebanese Judge Nawaf Salam Elected as President of the International Court of Justice Appointed Person Justice Nawaf Salam (Lebanon) Appointed as President of the International Court of Justice (ICJ) Replaced Judge Joan E Donoghue Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 14  Appointed Person Justice Julia Sebutinde (Uganda) Appointed as Vice President(VP) of International Court of Justice (ICJ) Replaced Judge Kirill Gevorgian News-30 Former PM Alexander Stubb Elected as 13th President of Finland Appointed Person Alexander Stubb Appointed as 13th President of Finland Replaced Sauli Niinisto Extra Info He served as PM of Finland from 2014 to 2015 and as Minister of Finance from 2015-2016. News-31 Katrina Kaif Joins Chennai Super Kings as Brand Ambassador for IPL 2024 Appointed Person Katrina Kaif Appointed as Brand Ambassador of Chennai Super Kings (CSK) for IPL 2024 News-32 Sundaram AMC appoints Radhakrishnan as CEO Appointed Person Anand Radhakrishnan Appointed as CEO of Sundaram Asset Management Replaced Sunil Subramaniam News-33 ICAI elects new President, Vice President Appointed Person Ranjeet Kumar Agarwal Appointed as President of Institute of Chartered Accountants of India (ICAI) Appointed Person Charanjot Singh Nanda Appointed as Vice President of Institute of Chartered Accountants of India (ICAI) News-34 SBICAPS Appoints Virendra Bansal as the new MD and CEO Appointed Person Virendra Bansal Appointed as Managing Director and Chief Executive Officer of SBI Capital Markets Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 15  (SBICAPS) Replaced Rajay Kumar Sinha News-35 Sanjay Kumar Jain Assumes The Charge Of CMD/IRCTC Appointed Person Sanjay Kumar Jain Appointed as Chairman & Managing Director of Indian Railway Catering and Tourism Corporation Ltd (IRCTC) Replaced Mahendra Pratap Maal News-36 ECL's Nilendu Kumar Singh set to be next CMD of CCL Appointed Person Nilendu Kumar Singh Appointed as Chairman & Managing Director (CMD) of Central Coalfields Limited (CCL) Replaced PM Prasad News-37 Rajendra Kumar Gupta will be new Director Finance of Cotton Corporation Appointed Person Rajendra Kumar Gupta Appointed as Director Finance of Cotton Corporation of India Limited About Cotton Corporation of India ESTD 1970 HQ Mumbai CMD Lalit Kumar Gupta News-38 Axis Bank appoints Pranam Wahi as additional director Appointed Person Pranam Wahi Appointed as Additional independent director of Axis Bank News-39 IIT Madras faculty T Pradeep becomes 23rd Foreign Member from India to be elected to National Academy of Engineering, US Appointed Person Indian Institute of Technology Madras faculty Thalappil Pradeep Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 16  Appointed as 23rd foreign member from India to be elected to the US National Academy of Engineering (NAE) About National Academy of Engineering ESTD 1964 HQ Washington, D.C., US News-40 IRS officer Sanjay Kumar appointed as Member in Central Board of Direct Taxes Appointed Person Indian Revenue Service officer Sanjay Kumar Appointed as Member in Central Board of Direct Taxes News-41 Pradeep Kumar Sinha to take over as Non-Executive Part-time Chairman of ICICI Bank Appointed Person Pradeep Kumar Sinha Appointed as Non-Executive Part-time Chairman of ICICI Bank Replaced G. C. Chaturvedi News-42 Ujjivan Small Finance Bank names Mangesh Ramesh Mahale as the CTO Appointed Person Mangesh Ramesh Mahale Appointed as Chief Technology Officer of Ujjivan Small Finance Bank Limited News-43 PESB picks Harsh Baweja for REC's Director (Finance) post Appointed Person Harsh Baweja Appointed as Director (Finance) of REC Limited News-44 Pawan Kumar appointed as Director in Department of Rural Development Appointed Person Pawan Kumar Appointed as Director in the Department of Rural Development, Delhi Appointed Person Ravikiran Ubale Appointed as Director in the Department of Pension and Pensioners' Welfare Appointed Person Mohammad Isharar Ali Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 17  Appointed as Director in the Department of Promotion of Industry & Internal Trade (DPIIT) News-45 Prabowo Subianto elected as the new President of Indonesia Appointed Person Prabowo Subianto Appointed as President of Indonesia Replaced Joko Widodo News-46 KVS Manian Appointed As Kotak Mahindra Bank’s New JMD Appointed Person KVS Manian Appointed as Joint Managing Director of Kotak Mahindra Bank Replaced Shanti Ekambaram News-47 Nikhil Joshi Appointed As Managing Director of Boeing Defence India Appointed Person Nikhil Joshi Appointed as Managing Director of Boeing Defense India (BDI) News-48 ACC appoints non-executive chairman in Bank of India, Indian Overseas Bank & UCO Bank Appointed Person M R Kumar, the former LIC Chairman Appointed as Part-time non-official Director and non-executive Chairman of BOI Appointed Person Srinivasan Sridhar Appointed as Non-executive Chairman on the Board of Indian Overseas Bank (IOB) Appointed Person Aravamudan Krishna Kumar Appointed as Non-executive Chairman on the Board of UCO Bank News-49 Justice N V Anjaria appointed as Chief Justice of Karnataka High Court Appointed Person Justice N V Anjaria Appointed as Chief Justice of the Karnataka High Court Replaced Justice P S Dinesh Kumar News-50 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 18 Govt names Bank of Maharashtra MD & CEO A S Rajeev as Vigilance Commissioner Appointed Person A S Rajeev Appointed as Vigilance Commissioner in the Central Vigilance Commission (CVC) News-51 Bandhan Bank appoints Rajeev Mantri as CFO Appointed Person Rajeev Mantri Appointed as Chief Financial Officer (CFO) of Bandhan Bank Replaced Abhijit Ghosh News-52 Bhupinder Kumar (IAS) appointed as DCR of J&K and Ladakh Appointed Person Bhupinder Kumar Appointed as Director of Census Operations /Director of Citizen Registration (DCR) (Deputy Secretary level) of Jammu & Kashmir and Ladakh News-53 Ashish Vijayakar Appointed as MD & CEO of SBM Bank India Appointed Person Ashish Vijayakar Appointed as Managing Director & Chief Executive Officer (MD & CEO) of SBM Bank India Replaced Sidharth Rath News-54 Ilham Aliyev Re-elected as President of Azerbaijan for Fifth Term Appointed Person Ilham Heydar oglu Aliyev (Ilham Aliyev) Appointed as President of Azerbaijan for the fifth consecutive term Extra info His tenure will end in 2031 since Azerbaijan adopted constitutional amendments that extended the president’s term in office to 7 years from 5 in 2016. News-55 Sureshwar Singh Bonal appointed as Director in Heavy Industries Ministry Appointed Person Sureshwar Singh Bonal Appointed as Director in the Ministry of Heavy Industries Extra Info Bonal is a Central Water Engineering Service (CWES) officer. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 19 News-56 Sunil Sharma appointed as Director in Department of School Education & Literacy Appointed Person Sunil Sharma Appointed as Director in the Department of School Education & Literacy under the Ministry of Education News-57 Wencai Zhang appointed as WBG’s MD & Chief Administrative Officer Appointed Person Wencai Zhang Appointed as Managing Director (MD) and Chief Administrative Officer of World Bank Group (WBG) News-58 Geeta Batra’s Historic Appointment to the World Bank’s GEF Appointed Person Geeta Batra Appointed as Director of the Independent Evaluation Office (IEO) of the World Bank’s Global Environment Facility (GEF) Extra Info Batra becomes the first woman from a developing country to assume this prestigious role News-59 Feleti Teo named Pacific Island nation's new Prime Minister Appointed Person Former Attorney General Feleti Teo Appointed as Prime Minister of Tuvalu Replaced Kausea Natano News-60 Ravindra Kumar assumes charge as Director (Operations) of NTPC Appointed Person Ravindra Kumar Appointed as Director (Operations) of NTPC News-61 Elisa de Anda Madrazo Named FATF President Appointed Person Ms. Elisa de Anda Madrazo (Mexico) Appointed as President of the Financial Action Task Force (FATF) Replaced T Raja Kumar Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 20 News-62 Vijay Shekhar Sharma steps down from Paytm Payments Bank board amid crisis Resigned person Vijay Shekhar Sharma Resigned as Part-time non-executive chairman and board member of Paytm Payments Bank News-63 Justice AM Khanwilkar to be new Lokpal of country Appointed Person Former Supreme Court judge Ajay Manikrao Khanwilkar Appointed as Chairman of Lokpal Replaced Justice Pradip Kumar Mohanty Appointed Judicial Members Former Himachal Pradesh HC Chief Justice Lingappa Narayana Swamy, former Allahabad HC CJ Sanjay Yadav and Law Commission chairman Ritu Raj Awasthi Appointed Non Judicial Members Sushil Chandra, Pankaj Kumar and Ajay Tirkey Banking/ Finance/ Economy News-1 IMF upgrades India's GDP growth rate to 6.7 percent for current financial year Extra Points The International Monetary Fund (IMF) has increased its GDP growth estimate for India to 6.7 percent for the current financial year. It is 40 basis points higher than its previous forecast of 6.3 percent. In its latest World Economic Outlook report, IMF also raised India's upward medium-term GDP growth to 6.5 percent, for 2025 and 2026. News-2 FY 2023-24 marks third successive year of over 7% growth of Indian economy, predicts Economic Review of government Extra Points The Financial Year 2024 marks the third successive year of over seven percent growth of the Indian economy even as the global economy struggles to grow at more than 3 percent. Projecting the good health of India’s financial sector, the review said that the public sector capital investment has surged in the last 10 years. Marking a significant improvement in women-led development, the report noted that under PM Jan Dhan Yojana, the proportion of women having a bank account has increased from 53 percent in 2015-16 to 78.6 percent in 2019-21. Female Labour Force Participation rose from 23.3 percent in 2017-18 to 37 percent in 2022-23. Highlighting the enhancement in the education levels of women, the review said that the female gross enrolment ratio in senior secondary education rose from 24.5 percent in 2005 to 58.2 percent in 2022. It said that India is the third-largest fintech economy in the world after the United States of America and the United Kingdom. News-3 Household consumption to revive in FY25, growth at 6.3%: Standard Chartered Extra Points Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 21  Household consumption will need to pick up if India is to achieve a GDP growth of 6% or higher in the coming fiscal, according to a report by Standard Chartered. The research group of the global bank revised its FY25 forecast upward to 6.3% from 6% projected earlier, as it projected muted inflation and higher food spending to help household consumption drive growth in the coming fiscal. India is estimated to grow 7.3% in FY24, but private final consumption expenditure growth slowed to 4.4% from 7.5% in the previous fiscal. The report also revised its FY24 forecast upward to 6.8% from 6.7% on account of increased economic activity. News-4 GST collection rises to record second highest monthly revenue of ₹1,72,129 cr in January Extra Points India's Goods and Services Tax (GST) revenue in January 2024 was ₹1,72,129 crore, the second-highest ever recorded. This is the third time in the 2023-2024 fiscal year that GST collections have surpassed ₹1.70 lakh crore. The highest-ever monthly GST collection was in April 2023 at ₹1.87 lakh crore. Collection of GST in January 2024: Category Amount Gross GST Revenue Rs 1,72,129 crore Central GST Rs 43,552 crore State GST Rs 37,257 crore GST Collection of Previous Months Month GST Collection August 2023 1,59,069 crore September 2023 1,62,712 crore October 2023 1,72,003 crore November 2023 1,67,929 crore December 2023 1,64,882 crore News-5 RBI bars Paytm Payments Bank from offering services effective March 2024 Extra Points Reserve Bank of India has imposed restrictions on Paytm Payments Bank and barred the entity from offering incremental banking services effective March 2024. Paytm Payments Bank will not be allowed to accept deposits or undertake credit transactions or top ups in any customer accounts, prepaid instruments, wallets, FASTags and NCMC (National Common Mobility Cards) In addition, the nodal accounts of parent company One97 Communications and Paytm Payments Services will need to be terminated by February 29, 2024. News-6 RBI's digital payments index jumps to 418.77 in Sept from 395.57 in Mar Extra Points The Reserve Bank of India’s (RBI) Digital Payments Index, a measure of the extent of digitisation of payments across the country, increased to 418.77 in September 2023 from 395.57 in March 2023. The RBI-DPI has been constructed with March 2018 as the base period, that is, the DPI score for March 2018 is set at 100. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 22  In September 2019, the index stood at 173.49, which rose to 217.74 in September 2020, and to 304.06 in September 2021. News-6 ADB mobilises Rs 1,250 cr through issuance of green bonds in local market Extra Points The Asian Development Bank said it has garnered Rs 1,250 crore (about USD 150 million) through its largest local currency green bond issue so far. The issue is structured as a 4-year currency linked bond, with a one-time repayment at maturity and carrying a fixed interest rate of 6.72 per cent per year. The bond is denominated in Indian rupees but settled in United States dollars, with returns to investors indexed to the performance of the Indian currency. ADB issued its first local currency green bond in Indian rupees in 2017. News-7 RBI allows TRQ holders to make advance payment for gold import via IIBX Extra Points RBI has issued Guidelines on import of gold by Tariff Rate Quota (TRQ) holders under the India-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA). Under this, Authorized Dealer (AD) Category-I banks can allow valid TRQ holders under the India-UAE CEPA to remit advance payment for eleven days for import of gold through India International Bullion Exchange IFSC Ltd (IIBX) against the TRQ. This information by RBI is issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act (FEMA), 1999. The India-UAE free trade agreement, effective from May 2022, grants a 1% duty concession to domestic importers on a specified quantity of gold under the TRQ provisions. News-8 RBI Imposes Rs 7.25 Lakh Penalty on 5 Cooperative Banks Penalty Amount ₹5 Lakh Imposed on Dr Panjabrao Deshmukh Urban Cooperative Bank Ltd, Maharashtra Penalty Amount ₹75,000 Imposed on Jila Sahakari Kendriya Bank Maryadit, Madhya Pradesh Penalty Amount ₹50,000 Imposed on Krushiseva Urban Cooperative Bank, Maharashtra Penalty Amount ₹50,000 Imposed on Bhilai Nagrik Sahakari Bank, Chhattisgarh Penalty Amount ₹50,000 Imposed on Krushiseva Urban Cooperative Bank, Maharashtra Penalty Amount ₹50,000 Imposed on Mula Sahakari Bank, Maharashtra News-9 NABARD projects priority sector credit target of Rs 3.97 lakh cr for Karnataka in 2024-25 Extra Points Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 23  The National Bank for Agriculture and Rural Development (Nabard) has pegged a credit potential of ₹2.80 lakh crore for the priority sector for the financial year 2024-25, showing a whopping growth of 51 per cent over the last year’s projections. This includes a credit potential of ₹1.33 lakh crore for agriculture. Of the total estimates, crop loans constituted 29 per cent, MSME (46 per cent) and Agri ancillary activities (7 per cent.) Since the formation of the State in 2014, Nabard has propelled a credit flow of Rs one lakh crore. News-10 IRDAI mandates AYUSH options in health covers from April 1 Extra Points The Insurance Regulatory and Development Authority of India (IRDAI) asked general insurance companies to have board-approved policy guidelines for AYUSH coverage and give policyholders an option to choose a treatment of their choice. The guidelines will be effective from April 1, 2024. The guidelines must include quality standards and procedure for enrolling AYUSH hospitals or day care centres as network providers for cashless treatment. News-11 UPI transactions touch new record of ₹18.4-lakh crore in Jan Extra points Unified payments interface (UPI) started 2024 on a strong note, with transaction spends staying over the ₹18-lakh crore mark and touching a new record high. Transactions worth ₹18.41-lakh crore were processed during January, nearly 1 per cent higher than the previous record of ₹18.23-lakh crore in December 2023. The number of transactions on the UPI network remained flat on month at 1,202 crore for January. On year, the volume of transactions was 52 per cent higher. List of month wise UPI transaction list: Month Volume (in Mn) Value (in Cr.) December- 23 12,020.23 18,22,949.42 November- 23 11,235.29 17,39,740.61 October-23 11,408.79 17,15,768.34 September-23 10,555.69 15,79,133.18 August-23 10,586.02 15,76,536.56 News-12 RBI imposes Rs 5 lakh penalty on Bajaj Housing Finance Penalty Amount ₹5 lakh Imposed on Bajaj Housing Finance Act of Violation Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021 News-13 UPI gets global launch at Eiffel Tower in France Extra Points Prime Minister Narendra Modi lauded the formal launch of the Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 24  The UPI was formally launched at the Republic Day reception held in France. Unified Payments Interface is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. News-14 Fitch Ratings on India’s Interim Budget 2024-2025 Extra Points Fitch Rating, an internatinal credit rating agency, stated that the interim Budget of 2024-2025 by the Government of India does not change the sovereign credit profile of India. Fitch Ratings estimates that India’s fiscal deficit for financial year 2024-2025 (FY25) to reach 5.4% of Gross Domestic Product (GDP), which is above the budget target of 5.1%. Targeting 5.1% of GDP deficit in FY25 demonstrates the government’s commitment to reduce the deficit and achieve the deficit target of 4.5% by FY26. The government revised the FY24 fiscal deficit to 5.8% from 5.9% budgeted for the year. News-15 ESAF SFB & Edelweiss Tokio Life partners to offer Life Insurance Products Extra Points ESAF Small Finance Bank (SFB) announced a bancassurance partnership with Edelweiss Tokio Life Insurance Company Limited to offer life insurance products to a wider range of customers. Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Service Limited and Tokio Marine Holdings Inc of Japan. News-16 SBI to Down-sell 50% of ₹11,000 Crore Loan to Adani’s Ganga Expressway Project Extra Points More than a year after disbursing loans to Adani Group’s Ganga Expressway project, State Bank of India (SBI) is in the process of downselling half of the nearly ₹11,000-crore loan exposure to the longest tolled road-project in the country. The lender is in talks with financial institutions, such as the National Bank for Financing Infrastructure and Development (NaBFID), Punjab National Bank (PNB) and some power finance companies, to down sell half of its exposure. NaBFID aims to sanction up to ₹1 lakh crore by March 2024 and has already disbursed ₹21,000 crore of loans. Extra info: In 2021, Adani had won contracts from the Uttar Pradesh government to build three stretches of the 594- km Ganga Expressway while the fourth section was awarded to IRB Infrastructure. Of its 594-km length, the Adani group is building 464 km from Budaun to Prayagraj, which comprises 80% of the expressway project. News-17 Indian Overseas Bank Achieves Rs 1 Lakh Crore Market Cap, Becomes Fifth PSU Bank to Do So Extra Points Indian Overseas Bank (IOB), a state-owned bank, achieved a market capitalization exceeding Rs 1 lakh crore for the first time. This milestone comes after a remarkable 100% surge in the stock price over the last six months. IOB joins the ranks of State Bank of India (SBI), Bank of Baroda, Punjab National Bank (PNB), and Union Bank of India as the fifth public sector lender to surpass the Rs 1 lakh crore market capitalization mark. News-18 RBI Data Indicates 97.5% Return of ₹2,000 Notes to Circulation Extra Points According to RBI data, 97.5% of the ₹2,000 banknotes in circulation as of May 19, 2023 have been returned to the system. As of January 31, 2024, the total value of the notes has decreased from ₹3.56 lakh crore on May 19, 2023 to ₹8,897 crore. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 25  The deadline for deposit and exchange at bank branches was October 7, 2023, marking the end of an era for the vibrant-coloured currency. While the general public bid adieu to ₹2,000 notes at bank branches, the RBI extended the facility for exchange at its 19 Issue Offices from May 19, 2023. News-19 Exim Bank Received Rs 9,013.72 Crore from MEA after Invoking GoI Guarantees Extra Points The Ministry of External Affairs (MEA) has provided Rs 9,013.72 crore to the Export-Import Bank of India (Exim Bank) after the bank invoked Government of India (GoI) guarantees on decade-old loans extended to some African countries. These loans were classified as “doubtful debts” in Financial Year (FY) 2023-24. Exim Bank had to invoke guarantees due to non-performing assets (NPAs) of the loans given to African countries Once guarantees are invoked, the funds are paid out of the Guarantee Redemption Fund established in the Public Account of India from 1999-2000. News-20 CRISIL Report: Indian Economy to Grow at 6.7% between Fiscals 2024-2031 Extra Points According to the CRISIL report titled “Indian Economy: Capital as Growth Driver”, the Indian economy is expected to grow at an average rate of 6.7% per year between fiscal 2024 and 2031. After a robust 7.3% growth in fiscal year 2023, CRISIL projects a moderation to 6.4% in fiscal year 2024, attributing it to cyclical factors. According to the report, In India, the inflation level of 5.7% in December 2023 was driven solely by volatile vegetable prices and food-grain inflation. News-21 Pension Fund Regulatory and Development Authority Invites Bids for PFRDA-TRACE RFP in Technology Architecture Project Extra Points The Pension Fund Regulatory and Development Authority (PFRDA) has initiated a tendering process, inviting bids from prospective bidders to participate in the PFRDA-TRACE RFP as part of the Technology Architecture (TARCH) project. The tool will enable a workflow for PFRDA departments to review and track submissions, facilitate communication of observations and remarks. News-22 Banking system liquidity deficit shrinks to ₹1.40 lakh crore Extra Points The liquidity deficit in the banking system shrank to about ₹1.40-lakh crore on February 4 from the recent peak of ₹3.46-lakh crore (on January 24th) in view of the government stepping up spending, per RBI data. The declining liquidity deficit also had a salubrious effect on the overnight money market rates, with the weighted average rate easing to 6.33 per cent from around 6.50 per cent to 6.75 per cent last month. News-23 RBI imposes Rs 8.8 lakh penalty on Power Finance Corporation for non-compliance Penalty Amount Rs 8.8 lakh Imposed on Power Finance Corporation (PFC) Limited Reason For non-compliance with certain provisions of directions on liquidity risk management framework for Non-Banking Financial Companies Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 26 News-24 HDFC Bank, group companies get RBI nod to acquire up to 9.5% stake in six banks Extra Points HDFC Bank said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank. The six lenders in which HDFC Bank will take stake are – Axis Bank, Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, Yes Bank, and IndusInd Bank. HDFC Bank will have to ensure that the aggregate holding in the 6 banks does not exceed 9.50 per cent of the paid up share capital or voting rights of the respective banks, at all times. News-25 Federal Bank launches RuPay NCMC Wallet Debit Card Extra Points Federal Bank has launched National Common Mobility Card (NCMC)-integrated debit cards which will enable its RuPay Debit Card holders to use their debit cards for offline payments at NCMC-enabled terminals at metro stations, buses, etc. Cards issued after April 2022 will exclusively support the NCMC feature. NCMC supports stored value payments (currently up to Rs 2,000, subject to Reserve Bank of India changes) for simplified digital payments during travel. News-26 Juspay, Zoho, Decentro secure RBI nod for payment aggregator business Extra Points Even at a time when the Reserve Bank of India is tightening controls over the fintech industry, fintech startups are getting the regulatory nod to operate as payment aggregators. Two fintech startups Juspay and Decentro have received the final license to operate as payment aggregators. They will join the likes of Razorpay, Cashfree, Zomato and others who got the licence earlier. News-27 SBI Ties Up with Flywire to Foster Payments of Indian Students Abroad Extra Points State Bank of India (SBI) in collaboration with Boston, United States of America (USA) based Flywire Corporation, a global payments enablement and software company, aims to simplify cross-border education payments for Indian students pursuing studies abroad. Indian students can now pay education fees to higher education institutions across the world in Indian Rupees (INR) directly from their SBI accounts, eliminating lengthy processes. The guidelines allow Indian residents to easily remit up to USD 250,000 per financial year. News-28 LIC launches individual life insurance plan Index Plus Extra Points Life Insurance Corporation of India (LIC) launched “LIC Index Plus”, a unit-linked, regular premium, individual life insurance plan. The plan offers a combination of life insurance coverage and savings throughout the policy’s duration. About LIC Index Plus: Age at entry 90 days (Minimum) to 50 or 60 years (Maximum) Basic sum assured 7 to 10 times of Annualized premium for entry at 90 days to 50 years and 7 times of Annualized premium for entry at 51 to 60 years Age at maturity 18 years (Minimum) and 75 or 85 (based on sum assured) Policy term Minimum 10 or 15 years depending on Annualized premium and Maximum Term is 25 years Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 27  Minimum Premium Rs 30000 (Yearly), Rs 15000 (Half- yearly), Rs 7500 (Quarterly), and Rs 2500 (Monthly) Maximum Premium no limit News-29 RBI MPC Meeting Highlights February 2024: Repo rate unchanged at 6.5% Extra Points Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday addressed a key briefing on the decision taken by the Monetary Policy Committee (MPC) in the meeting. The central bank has decided to keep the repo rate unchanged for the sixth consecutive time. It decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. The RBI has projected a GDP growth of 7 per cent for 2024-25 financial year, lower than the 7.3 per cent expansion estimated for the current fiscal. On retail inflation, the governor said that consumer price index (CPI) inflation for 2024-25 is projected at 4.5 per cent. The RBI governor announced that India's foreign exchange reserves stood at $622.5 billion as on February 2. Consequently the various rates are as under: Repo Rate 6.50% Reverse Repo Rate 3.35% Standing Deposit Facility (SDF) 6.25% Marginal Standing Facility Rate 6.75% Bank Rate 6.75% Cash reserve ratio (CRR) 4.50% Statutory Liquidity Ratio (SLR) 18.00% News-30 Infibeam Avenue partners with IDFC First Bank Extra Points Infibeam Avenues Ltd’s flagship payment brand, CCAvenue, entered into a partnership with IDFC First Bank to offer extensive credit card EMI solutions to the bank’s customers nationwide. According to the company, this collaboration aims to enhance the payment experience for bank customers by providing easy payment services alongside the existing BNPL facilities. News-31 OECD’s Economic Outlook Raised India GDP Growth Forecast for FY25 to 6.2% Extra Points The Organization for Economic Co-operation and Development (OECD) Economic Outlook, Interim Report February 2024 has raised India’s GDP growth forecast for FY 2024-25 to 6.2%, up from the November 2023 estimate of 6.1%. For 2025-26 (FY26), the OECD maintains India’s growth forecast at 6.5%. News-32 HDFC Bank raises $300 million through maiden sustainable finance bond issue Extra Points Largest private sector lender HDFC Bank said it has raised $300 million in its maiden sustainable finance bond issue. The money raised is part of the $750 million bond-raise. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 28  The $300 million sustainable finance bonds have been raised for a tenure of three years at a spread of 0.95 per cent over the US treasury, while the remaining $450 million will be repaid in five years at 1.08 per cent over the US Treasury. News-33 Finance Ministry aims to transfer stressed assets worth ₹1 lakh crore to NARCL by March 2024 Extra Points The Finance Ministry is targeting stressed assets transfer of ₹1 lakh crore to the National Asset Reconstruction Company Ltd (NARCL), colloquially referred to as Bad Bank, from State-owned banks by the end of March 2024. When the bad bank started operations, the initial aim was to get as much as ₹2 lakh crore of stressed assets transferred from the public sector banks. News-34 Government of India and ADB sign $200 million loan to tackle flood and erosion risk along Brahmaputra river Loan Amount USD 200 Million Given to Government of India Given by Asian Development Bank (ADB) Purpose To address flood and erosion risk along the Brahmaputra River in Assam, India. News-35 IRDAI Clears Axis Bank’s ₹1,612 Crore Investment in Max Life Insurance, Awaits CCI Approval Extra Points Max Financial Services has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) for a capital infusion of Rs 1,612 crore by Axis Bank into the company’s material subsidiary, Max Life Insurance. Max Life will issue approximately 14,25,79,161 equity shares to Axis Bank as part of the deal. News-36 SBI Mutual Fund Introduces SBI Energy Opportunities Fund Extra Points SBI Mutual Fund announced the launch of the SBI Energy Opportunities Fund. The scheme opened for public subscription on February 06, 2024, and will close on February 20, 2024. Investors can participate in the scheme with a minimum investment of ₹5000 per plan/option and in multiples of Re 1. News-37 Foreign exchange reserves rise to one-month high of $622.47 bn: RBI Extra Points India's foreign exchange reserves rose for a second straight week to a one-month high of $622.47 billion as of Feb 2, data from the central bank showed. The reserves rose by $5.74 billion in the reporting week, the biggest rise in nearly two months. Reserves had risen by $590 million in the prior week. In the week that the foreign exchange data pertains, the rupee rose 0.2% against the dollar and traded in a range of 82.8225 and 83.1525. News-38 Punjab & Sind Bank, WDRA agreement to offer low-interest loans for farmers Extra Points To facilitate farmers and traders in providing low-interest rate loans, the Warehousing Development Regulatory Authority (WDRA) signed a MoU with the Punjab & Sind Bank (PSB). Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 29  The MoU was signed with the intent of promoting awareness to fund against e-NWRs (electronic Negotiable Warehouse Receipt). PSB is offering loans against e-NWRs with no collateral and attractive rate of interest. Under agriculture sector, upto Rs. 75 lakh and for other category borrowers, upto Rs. 5 crores loans are extended. News-39 IREDA Receives RBI Nod to set up Subsidiary in Gift City Extra Points The Indian Renewable Energy Development Agency Ltd. (IREDA) has received approval from the RBI to set up its wholly-owned subsidiary in the International Financial Services Centre (IFSC) situated in GIFT City (Gujarat International Finance Tec-City) in Gujarat. The new subsidiary will serve as an offshore platform for securing competitive funding to push the growth of the renewable energy sector. News-40 Tata Group Achieves Milestone as the First Indian Conglomerate to Surpass Rs 30 Lakh Crore Market Capitalization Extra Points Tata Group has achieved a significant milestone by surpassing a combined market capitalization of Rs 30 lakh crore, becoming the first Indian conglomerate to achieve this valuation. With an overall valuation of Rs 30.6 lakh crore, Tata Group now holds the title of the most valued conglomerate in India, surpassing competitors like Reliance Group and Adani Group in market capitalization rankings. News-41 RBI ups remuneration ceiling of pvt sector banks’ Non-Executive Directors by ₹10 lakh to ₹30 lakh per annum Extra Points The Reserve Bank of India (RBI) has revised upwards the ceiling in respect of remuneration of Non- Executive Directors (NEDs), other than the Chair of the Board, to ₹30 lakh per annum from ₹20 lakh. The aforementioned revised ceiling is applicable to NEDs of private sector banks, including Small Finance Banks (SFBs) and Payment Banks (PBs), as also the wholly owned subsidiaries of Foreign Banks. News-42 EPFO Raises Interest Rate on PF Deposits to 8.25%, A Three Year High Extra Points The apex decision-making body of the Employees’ Provident Fund Organization (EPFO), it was decided to increase the interest rate on employees’ provident fund (EPF) deposits to 8.25% for the fiscal year 2023-24. In March 2023, the interest rate on EPF was marginally increased to 8.15% for the fiscal year 2022-23, up from 8.10% in the previous fiscal year. However, in March 2022, the EPFO had lowered the interest rate on EPF to 8.1%, the lowest in over four decades, for the fiscal year 2021-22, down from 8.5% in 2020-21. News-43 India’s Retail inflation is at 3-mth low to 5.1% in Jan, IIP witnessed 3.8% growth in Dec Extra Points In January 2024, India’s retail inflation reached a three-month low of 5.1%, while the Index of Industrial Production (IIP) exhibited a growth of 3.8% in December 2023. Consumer Price Index (CPI) indicates a 5.1% year-on-year (Y-o-Y) retail inflation rate in January 2024, down from 5.69% in December and 6.52% in January last year. Month-wise list of retail inflation: Month CPI June 2023 4.81% July 2023 7.44% Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 30  August 2023 6.83% September 2023 5.02% October 2023 4.87% November 2023 5.55% December 2023 5.69% News-44 Paytm E-commerce Rebrands as Pai Platforms, Acquires Bitsila Extra Points Paytm E-commerce has undergone a significant transformation, renaming itself as Pai Platforms. Alongside this rebranding, it has acquired Bitsila, a prominent seller platform operating within the Open Network for Digital Commerce (ONDC). Pai Platforms’ acquisition of Bitsila, established in 2020, solidifies its position within the ONDC ecosystem. News-45 India launches UPI payment services in Sri Lanka, Mauritius Extra Points India's Unified Payment Interface (UPI) services were rolled out in Sri Lanka and Mauritius, with Prime Minister Narendra Modi describing it as linking historic ties with modern digital technology. India's RuPay card services were also launched in Mauritius at a virtual ceremony attended by Prime Minister Modi, his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe. News-46 Yes Bank, LeRemitt partners for Cross-Border Transactions for MSMEs Extra Points Yes Bank Limited has partnered with the Bengaluru-Based fintech startup, LeRemitt, to create a cross-border platform to enable MSMEs to conduct international transactions in key currencies, including USD and euro. It will also offers transparency, efficiency, and cost benefits for small businesses involved in global trade. News-47 HSBC in Partnership with Google Cloud Finances Climate Technology Firms Extra Points The Hong Kong and Shanghai Banking Corporation (HSBC) in partnership with Google Cloud Platform (GCP) aims to offer financial support and technological resources to fast-growing climate technology firms. HSBC will be funding about USD 1 billion to climate tech companies selected by Google through its Google Cloud Ready-Sustainability (GCR-Sustainability) programme by 2030. News-48 Reliance becomes first Indian company to hit Rs 20 lakh crore m-cap Extra Points Oil-to-telecom conglomerate Reliance Industries became the first Indian company to touch the Rs 20-lakh- crore market capitalisation level on the back of a nearly 30% rise in its stock price in three months. RIL touched the Rs 1-lakh-crore market cap mark for the first time on Aug 2, 2005. RIL, which has been the most valued company in India for over a decade, is now ranked (44th) among the world's top 50 companies in terms of market cap. In India, RIL is ahead of TCS - the country's second most valued company - by Rs 5 lakh crore. News-49 India's WPI inflation eases to three-month low of 0.27 per cent in January Extra Points India's wholesale price index-based inflation eased further to 0.27 per cent in January on an annual basis, as against 0.73 per cent in December. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 31  At 0.27 percent, it is the third month in a row that wholesale inflation has printed above zero. News-50 Prabhaav: SIDBI unveils the CRISIL study on impact of Fund of Funds on Startup Ecosystem Extra Points Small Industries Development Bank of India (SIDBI) has unveiled the CRISIL’s impact assessment report of the Fund of Funds for Startups (FFS) namely ‘Prabhaav‘. As of November 30, 2023, 129 Alternative Investment Fund (AIF) were sanctioned out of FFS across various segments. Investments of approximately 4 times the drawn amount, totaling Rs 17,534 crore, have been made in 938 startups, showcasing a significant multiplier effect of FFS. Despite its focus on early-stage funding, 18 startups supported by FFS have achieved unicorn status. Post-FFS launch, 129 startups outside Tier 1 cities received investments totaling Rs 1,590 crore. Top 3 states with number of startups supported under FFS: Rank State Number of Startup 1 Karnataka 240 with Rs 4,687 crore investments 2 Maharashtra 176 startups with Rs 3,426 crore invested 3 Delhi 138 with Rs 2,254 crore invested News-51 India-UAE agree to link their instant payment platforms, domestic cards RuPay and JAYWAN Extra Points Indian Prime Minister Narendra Modi and United Arab Emirate President Sheikh Mohamed bin Zayed Al Nahyan jointly unveiled the UPI RuPay card service in Abu Dhabi. The countries signed an agreement to inter-link domestic debit/credit cards – RuPay from India and JAYWAN from the UAE – to enhance the universal acceptance of RuPay across the Middle Eastern country. The Indian government has been working to take UPI global. As part of this, the services have been extended to countries like Nepal, Canada, Singapore, and Bhutan. News-52 Reserve Bank of India Sets Sovereign Gold Bond’s Next Tranche Issue Price at Rs 6,263 per Gram Extra Points The Reserve Bank of India (RBI) announced that the issue price of the next tranche of Sovereign Gold Bond has been fixed at Rs 6,263 per gram. The Government of India in consultation with the Reserve Bank of India has decided to allow a discount of ₹50 per gram from the issue price to those investors who apply online and the payment is made through digital mode. About Sovereign Gold Bond Launched in October 30, 2015 Minimum investment One gram Maximum subscription 4 kg for individuals, 4 kg for HUFs, and 20 kg for trusts Tenor 8 years, with an exit option in the 5th, 6th, and 7th years, to be exercised on the interest payment dates Interest 2.5% Extra info In the case of joint holding, the investment limit of 4 KG will be applied to the first applicant only. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 32 News-53 Karnataka Bank Unveils ‘Bharat Ka Karnataka Bank’ Campaign Extra Points Karnataka Bank has launched its centenary campaign, ‘Bharat Ka Karnataka Bank’, to mark its 100 years of service in banking. The campaign is jointly executed by Havas Media India and Havas Worldwide India and underscores Karnataka Bank’s ability to adapt to the changing times. News-54 2 Additional Russian Banks Designated as Foreign Portfolio Investors Extra Points Two additional Russian banks, Tinkoff Bank and CentroCredit Bank, have registered as foreign portfolio investors (FPIs), bringing the total number of FPI registrations from Russia to 10. Tinkoff Bank has acquired both category I and category II licenses for FPI. CentroCredit Bank has registered as a category II FPI. Extra Info: Traditionally, Russia primarily invested through the Foreign Direct Investment (FDI) route, ranking 28th globally with inflows totaling $1.276 billion from April 2000 to September 2023. 20 Russian banks have established rupee vostro accounts with authorized dealer banks in India to facilitate rupee trade between the two countries. News-55 PayU, NPCI join hands to roll out Credit Lines on UPI’ feature Extra Points PayU, a payments service provider, and the National Payments Corporation of India (NPCI) have partnered to roll out a feature called "Credit Lines on UPI". This integration is available within the PayU application and allows merchants to accept digital payments through pre-sanctioned credit lines. News-56 Japan loses its position as the world's third-largest economy, Germany takes over Extra Points Japan has been eclipsed by Germany as the world’s third-biggest economy and has slipped into recession. Japan’s economy, now the world’s fourth-biggest, grew 1.9% in 2023 in nominal terms – meaning it is not adjusted for inflation – but in dollar terms its gross domestic product (GDP) stood at $4.2tn compared with $4.5tn for Germany. The Japanese currency dropped by almost a fifth against the US dollar in 2022 and 2023, including a 7% fall last year. News-57 India, Nepal sign pact to link UPI, NPI for faster remittances Extra Points The Reserve Bank of India and Nepal Rastra Bank signed the terms of reference for the integration of the Unified Payments Interface (UPI) and National Payments Interface (NPI). The integration is aimed at facilitating cross-border remittances between India and Nepal by enabling users of the two systems to make instant, low-cost fund transfers. Recently, Sri Lanka, Mauritius, and France have enabled the Indian digital payment system -- UPI in these countries. News-58 Indian Overseas Bank Marks 88th Foundation Day with Opening of 88 New Branches Extra Points The Indian Overseas Bank (IOB) has launched new products on the occasion of the Bank’s 88th Foundation Day, in Chennai, Tamil Nadu. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 33  The bank will open 88 new branches and has increased interest rates on Rupees Retail Term Deposits. IOB launched three new credit card variants: RuPay Classic, RuPay Platinum, and RuPay Select, offering various reward points and benefits. IOB has introduced the Green Deposit Scheme under Retail Term Deposits (less than ₹2 crore) to promote Green Finance EcoSystem India. News-59 Outward FDI rises 25.7% to $2.1 billion in January, shows RBI data Extra Points India’s outward foreign direct investment (FDI) commitments rose by 25.7 percent on a year-on-year (Y-o-Y) basis to $2.09 billion in January 2024, compared to over $1.66 billion in January 2023. Sequentially, they declined from $2.5 billion in December 2023, according to Reserve Bank of India (RBI) data. The equity commitments rose to $760.9 million in January 2024 from $597.4 million in January 2023. It was lower than the $834.7 million recorded in December 2023. Debt commitments increased to $306.2 million in January 2024 from $215.6 million a year ago. Guarantees for overseas units rose to $1.02 billion in January this year from $854.1 million in January 2023. News-60 LIC launches a non-participating product 'Amritbaal' for children Extra Points The Life Insurance Corporation of India (LIC) announced the launch of a non-participating product – ‘Amritbaal’. It is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan. About Amritbaal scheme Minimum age 30 Days Maximum age 13 Years Maturity age 18 years to 25 years Minimum Sum Rs. 2,00,000 Maximum Sum No limit News-60 India's second corporate credit card on RuPay network launched Extra Points BOBCARD (formerly known as BOB Financial Solutions), a wholly-owned subsidiary of Bank of Baroda, and National Payments Corporation of India (NPCI) has announced the launch of Corporate Credit Card on RuPay Network. With this, BOBCARD has become the second credit card issuer in the ecosystem to have a Corporate Credit Card on RuPay. IndusInd Bank claims to be the first bank in India to launch a corporate credit card on a unified payment interface (UPI) network. News-61 Paytm shifts nodal account to Axis Bank for seamless transactions Extra Points One97 Communications, owner of the brand Paytm, disclosed that it has moved its nodal account to Axis Bank from Paytm Payments Bank to maintain seamless merchant settlements. The nodal account is important as it serves as a master account for settling all customer and merchant transactions. Earlier, the Reserve Bank of India had advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 34 News-62 Bandhan Bank authorised to collected revenues of West Bengal govt Extra Points Private lender Bandhan Bank said that it has been authorised by the West Bengal government to collect tax and non-tax receipts on its behalf. The mandate will enable the bank to collect revenues through the Government Receipt Portal System (GRIPS). By virtue of this mandate, people will be able to pay various taxes like property tax, motor vehicle tax and professional tax using this portal. News-63 SBI allows customers to digitally enroll under PMJJBY and PMSBY scheme Extra Points State Bank of India (SBI) has launched a self-subscribing journey for enrolment under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes for its customers. The functionality enables customers to enroll under the schemes as per their convenience without visiting the branch or Customer Service Point. Benefits & Eligibility of these schemes: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Eligibility Persons in the age group of 18-50 years having an individual bank or a post office account Benefits Life cover of Rs. 2 Lakh in case of death due to any reason against a premium of Rs. 436/- per annum. Pradhan Mantri Suraksha Bima Yojana (PMSBY) Eligibility Persons in the age group of 18-70 years having an individual bank or a post office account Benefits Accidental death cum disability cover of Rs.2 lakh (Rs.1 lakh in case of partial disability) for death or disability due to an accident against a premium of Rs.20/- per annum. News-64 Federal Bank launches Stellar Savings Account & MasterCard enabled Stellar Debit Card Extra Points Federal Bank Limited has launched a new savings account called ‘Stellar Savings Account’. The account holders are offered with a power-packed ecofriendly Stellar Debit Card which is powered by contactless MasterCard Technology. The Stellar Savings Account comes with a complimentary wellness program that covers Daily Health & Wellness, Mental Wellness, Telemedicine and offline care. News-64 IRDAI gives in-principle nod for Policybazaar to upgrade license, enter reinsurance selling Extra Points PB Fintech said that insurance regulator IRDAI has granted in-principle approval to its wholly owned subsidiary Policybazaar Insurance Brokers (Policybazaar) to upgrade its license from a direct insurance broker (Life and General). This approval is expected to pave the way for Policybazaar to sell reinsurance products besides being a pure play platform focused on insurance buying. News-66 Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 35 IEPFA and DBS Bank ink MoU to spread awareness on investment and fraudulent schemes Extra Points Investor Education and Protection Fund Authority (IEPFA) and Singapore-headquartered DBS Bank signed a Memorandum of Understanding (MoU) to spread awareness on investment and fraudulent schemes. Under the MoU, DBS Bank aims to support IEPFA’s investor awareness activities by disseminating safety messages via its various digital platforms. News-67 IREDA and Punjab National Bank join hands to Co-Finance Renewable Energy Projects Extra points Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed an MoU to jointly finance renewable energy projects across India. The agreement allows both organizations to collaborate on co-lending and loan syndication for a wide range of renewable energy initiatives. IREDA aims to contribute towards achieving the 500 GW non-fossil-based electricity generation capacity goal by 2030. News-68 BoM Celebrated 89th Business Commencement Day: Launched 89 New Products Extra Points Bank of Maharashtra (BoM) celebrated its 89th Business Commencement Day as “Maha Parivartan Diwas 2.0” in Pune, Maharashtra and launched 89 new digital products and services. BoM has launched the Mahabank Equipment Finance Scheme to finance construction equipment purchases for Micro, Small & Medium Enterprises (MSMEs) and Corporates. The bank also incorporated a Straight-Through Processing (STP) Journey in Mudra Loans of up to Rs 50,000 to fuel the entrepreneurial ecosystem. Facilities were made to provide instant digital Kisan Credit Card (KCC) loans (of up to Rs 1.60 lakhs) for Karnataka farmers. News-69 PayNearby launched Digital Naari platform for Rural & Semi-Urban Women Extra Points Nearby Technologies Private Limited (PayNearby) has launched the Digital Naari platform to generate sustainable self-employment for women. This is in line with the ‘Lakhpati Didi’ initiative (a skill development programme launched in 2023), the platform seeks to onboard and uplift about 1 lakh women in rural and semi-urban areas by the end of 2025. News-70 Mswipe Technologies received PA License from RBI Extra Points The Reserve Bank of India (RBI) has granted Payment Aggregator (PA) license to Mumbai (Maharashtra) based Mswipe Technologies Private Limited. The Certificates of Authorisation (CoA) for Setting up and Operating Payment System in India is issued by RBI under Section 7 of Payment and Settlement Systems Act, 2007. News-71 Banks Seek Alternatives to Current Account Deposits Due to Government’s Cash Management Strain Extra Points All scheduled commercial banks witnessed a decrease in current account deposits, which dropped from 10.43 percent of total deposits in 2022 to 10.13 percent in 2023. The Center has adopted the just-in-time (JIT) concept for the release of money for all payments, including those funded centrally. Following the December 2023 monetary policy, the government’s average excess cash holding stands at ₹3.9 lakh crore. Follow us: Telegram , Youtube , Instagram Live Current Affairs At 8:00 AM Daily (By Abhijeet Sir) https://www.youtube.com/@bankerswaybyunacademy/streams 36 News-72 IBBI Expert Panel Advocates Specialized Insolvency Mediation in Insolvency and Bankruptcy Code Extra Points An expert panel convened by the Insolvency and Bankruptcy Board of India (IBBI) has recommended specialized insolvency mediation within the framework of the Insolvency and Bankruptcy Code (IBC). TK Viswanathan, a former Law Secretary, chaired the expert committee appointed by the IBBI. The expert committee suggested