Daily News

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Amazon India unveils ‘Seller Lending Network"

Amazon India unveiled its ‘Seller Lending Network,’ further scaling its ‘Seller Lending program’ introduced in 2016.

The network would provide wider selection, wherein sellers can choose loan offers tailored for their business needs from multiple lenders and loan types.

The Seller Lending Network also has Lender Central, a portal for lenders (similar to Seller Central for sellers), to facilitate exchange of information between lenders and Amazon. This facilitates information about seller performance data, loan application status and loan portfolio details.

Did you Know

Currently, Aditya Birla Finance, Bank of Baroda, Capital First, Capital Float, Flexiloans, and Yes Bank are part of the lending program, offering loans to thousands of sellers through Seller Lending Network.

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Truecaller acquires Chillr

Truecaller acquired Chillr, a multi-bank payments app through strategic investment.

The company also unveiled Truecaller Pay 2.0 with new features and bigger integrations.

Truecaller also plans to roll out credit and other financial services to users in India in a mobile-first way.

Did you Know

CEO & co-founder, Truecaller- Alan Mamedi

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Cabinet permits HDFC to raise capital through FDI

The Union Cabinet approved a proposal to grant private-sector lender HDFC Bank permission to raise additional capital of up to Rs. 24,000 crore through foreign direct investment.

The proposed investment is expected to strengthen the bank’s capital adequacy ratio.

Did you Know

CEO, HDFC Bank- Aditya Puri
HDFC Bank headquarters- Mumbai

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Bindeshwar Pathak presented Nikkei Asia Prize

Bindeshwar Pathak was honoured with Japan’s prestigious ‘Nikkei Asia Prize for Culture and Community’ for his significant work in tackling poor hygiene and discrimination.

The award honours people in Asia who have made significant contributions in one of the three areas: regional growth; science, technology and innovation; and culture and community.

Did you Know

Bindeshwar Pathak is a social reformer and founder of Sulabh International.
Former PM Manmohan Singh and Infosys chairman N. R. Narayana Murthy are among the few Indians who have won the prize in the past.

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Indian Railways introduce mobile app- utsonmobile

The Railways has introduced a new mobile application which will enable booking and cancellation of unreserved tickets, issue and renewal of season and platform tickets, check and load R-wallet balance and help maintain user profile management and booking history.

The application, ‘utsonmobile’ has been developed by Centre for Railway Information System.

Did you Know

The Centre for Railway Information Systems designs, develops, implements and maintains most of the important information systems of Indian Railways. It is headquartered in New Delhi.

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Georgian Prime Minister resigns

Georgia’s Prime Minister Giorgi Kvirikashvili resigned amid a disagreement with the leader of his ruling party.

Kvirikashvili, 50, has been prime minister since 2015.

Did you Know

Capital of Georgia- Tbilisi, Kutaisi (legislative)
Currency of Georgia- Georgian Lari

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Composite Water Management Index

NITI Aayog has come up with the Composite Water Management Index to assess and improve the performance in efficient management of water resources. It aims to inspire States and UTs towards efficient and optimal utilization of water, and recycling.

The index would provide useful information for the States and also for the concerned Central Ministries/Departments enabling them to formulate and implement suitable strategies for better management of water resources.

Did you Know

NITI Aayog was established in 2015, to replace the Planning Commission.
PM Narendra Modi is the Chairman and Rajiv Kumar is the Vice Chairman of NITI Aayog.
Amitabh Kant is the CEO of NITI Aayog.

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Government to launch Solar Charkha Mission

The Solar Charkha Mission is an initiative of Ministry of Micro Small & Medium Enterprises (MSME).

The Mission will cover 50 clusters and every cluster will employ 400 to 2000 artisans.

The Mission will disburse subsidy of Rs. 550 crore to the artisans.

Did you Know

Minister of State, MSME - Giriraj Singh

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HDFC 5th biggest consumer financial services company globally

HDFC has been ranked as the 5th biggest public company globally in the "consumer financial services category" on a list compiled by Forbes magazine.

American Express has topped this category, while Indiabulls Housing Finance is the only other Indian company (at 13th place) on the list.

In the overall list, topped by China"s banking behemoth ICBC, HDFC took 321st place, up from 404th a year ago.

Did you Know

The 16th annual Forbes Global 2000 list includes publicly-traded companies from 60 countries.
Some of the other Indian companies in the overall list include Tata Motors at 385th position, Tata Consultancy Services (404), Larsen & Toubro (471) and State Bank of India (489).

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Bank credit"s register growth- RBI data

Gross bank credit (non-food) grew 10.7 per cent in April 2018, registering the third double-digit growth since December 2014.

Agriculture, housing sector and exports sector are witnessing the slowest bank credit growth.

Did you Know

Financial Services Secretary- Rajeev Kumar