Daily News

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RBL Bank board approves re-appointment of Vishwavir Ahuja as MD and CEO

It is for a period of three years, with effect from June 30, 2021 to June 29, 2024.Ahuja was MD & CEO of Bank of America, India from 2001 to 2009 and has been for RBL Bank since June 30,2010. Reappointment is subjected to RBI approval now.

Did you Know

Tagline of RBL Bank is Apno Ka Bank

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BSE signs MoU with Maharashtra govt to encourage SME listing

Maharashtra government will help in mobilizing SME representatives,state & regional associations to encourage their SME members to attend capacity building programmes & also to create awareness about benefits of listing & raise equity capital.

Did you Know

Ashishkumar Chauhan is the MD & CEO of BSE.

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5 day Indo-French Exercise Desert Knight-21 begins.

Indian Air Force and French Air and Space Force (Armée de l'Air et de l'Espace) will conduct this bilateral Air exercise at Air Force Station Jodhpur.Have held 6 editions of Air Exercises named 'Garuda',latest being in 2019 in Mont-de-Marsan in France.

Did you Know

Fielding of Rafale aircraft by both sides is unique this time.

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Adani group signs concession agreement with AAI for developing Jaipur, Guwahati, Thiruvananthapuram airports

The concession period is 50 years from the commercial operation date for the management,operations and development of the airports.Centre in February 2019 privatised 6 major airports and Adani group won the rights to run all of them for 50 years.

Did you Know

Chairman and founder of Adani Group is Gautam Adani.

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Siddhartha Mohanty appointed MD of LIC, Sanjeev Kumar to head Telecommunications Consultants India Ltd (TCIL)

Siddhartha Mohanty is currently CEO of LIC Housing Finance Limited & will replace Suseel Kumar.Sanjeev Kumar has been appointed Chairman and Managing Director of TCIL for five years.Kumar is Director (Technical) of MTNL now.

Did you Know

LIC has four MDs and one chairman

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J&K Bank board decides to transfer 8.23% stake to UT of Ladakh.

Board decided gave 'In-principle approval' for implementation of General Administration Department,Govt. of J & K..in terms of which ownership of 8.23% out of its (J&K Govt.) shareholding in J&K bank as on October 31, 2019, shall be transferred to Ladakh.

Did you Know

One post of director on J&K Bank board is earmarked for Ladakh.

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IIFL Finance, Standard Chartered enter into co-lending partnership

Fairfax & CDC-backed IIFL Finance's wholly-owned subsidiary IIFL Home Finance Ltd & SCB co-lending arrangement is for extending MSME loans.Under Co-Lending Model(CLM) scheme banks can provide loans along with NBFCs to priority sector borrowers.

Did you Know

IIFL Finance is retail-oriented NBFC with 90% loan under retail.

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India supplies two mobile harbour cranes(MHC) of value over $25 million to Iran''s Chabahar port

This step is per the bilateral contract between Iran & India signed on May 23,2016 with value of USD 85 million aims to equip, mechanise and start operations at port under phase-I. An SPV India Ports Global Limited was incorporated to achieve the same.

Did you Know

This 2 MHC is part of a contract to supply 6 MHC.

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Axis Bank launches ‘Aura’- a credit card exclusively loaded with affordable health and wellness solutions

Aimed at health conscious individuals, these features will be powered by Poshvine and other specialists such as Decathlon, Practo(4 free online consult/month),Fitternity, IndushealthPlus, 1MG etc., to offer a complete and unique health & wellness solution.

Did you Know

Axis Bank:
CEO:Amitabh Chaudhry;
HQ:Mumbai.

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YES Bank launches new initiative for MSMEs, offers Rs 5 crore loan without collateral to startups

Offers: linkages to over 700 industry associations via YES BizConnect;YES Spark offers collateral-free funding up to Rs.5 crore;advisory & wealth management solutions;easy borrowing channels; insurance products;sweep-in facility etc.

Did you Know

5 elements of proposition:borrow,save,simplify,partner & protect

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American Express announces ₹1 crore grant to Dastkar to support women artisans

The grant to Dastkar's(a society of crafts and craftspeople)Artisan Support Fund,will support over 12,000 women artisans from 19 states in the country in the wake of the COVID-19 pandemic.It is part of its CSR initiative.

Did you Know

American Express:
HQ:New York;
CEO:Stephen Squeri

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Amazon partners with Startup India, Sequoia Capital India & Fireside Ventures to boost e-commerce exports from India

An accelerator programme will help early-stage startups take their brands to global audiences.It will feature a 6-week 1:1 mentorship module & startups will showcase proposition to VC partners.Amazon to give total equity free grant of $50k to 3 starups.

Did you Know

Amazon's Global Selling programme will help with global launch.

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2020 ‘Too big to fail’ list: SBI, ICICI Bank, HDFC Bank remain as domestic systemically important banks (D-SIBs)

According to analysts, too big to fail is a phrase used to describe a bank or company that’s so entwined in the economy that its failure would be catastrophic.D-SIB framework requires RBI to disclose names of banks designated as D-SIBs from 2015.

Did you Know

D-SIBs have additional CET1 requirement. It is 0.6% for SBI.

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KVIC, Ministry of Tribal Affairs(MoTA) ink pacts aimed at procurement of Khadi fabric, job creation

1.MoTA will procure over 6 lakh meters of Khadi fabric worth Rs 14.77 crore in 2020-21,for students in Eklavya Residential Schools run by the ministry. 2.MoTA's NSTFDC will be roped in as partner with KVIC to implement PMEGP Scheme,increasing the coverage.

Did you Know

NSTFDC,a MoTA agency responsible for economic dev of tribes.

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Universal Sompo General Insurance partners with NPCI to offer Health Cover to RuPay Cardholders, UPI Users

The health policy provides special coverage for cancer and heart-related ailments along with features like cashless hospitalization in over 5,000 hospitals across India and tax benefits. The cover can be purchased digitally.

Did you Know

CEO:
NPCI:Dilip Asbe;
Universal Sompo:Sharad Mathur.

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In a first,Telangana and Gujarat join hands to support women entrepreneurs & support in raising capital.

Telangana's WE Hub has partnered with Gujarat government’s I-Hub, to support women entrepreneurs.Around 240 women entrepreneurs will be selected for the pre-incubation programme and a total of 20 will be shortlisted for the co-incubation programme.

Did you Know

WE Hub:India's first state-led incubator for women entrepreneurs

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India's first Labour Movement museum to come up in Kerala

Labour Movement museum, that is opening up in Alappuzha(the cradle of the labour movement in the country), Kerala,will showcase the history of world & Kerala's labour movement through huge repository of documents and exhibits.

Did you Know

Alappuzha is Kerala's houseboat tourism hub.

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MeitY to set up Quantum Computing Applications Lab in partnership with Amazon Web Services (AWS)

Will provide quantum computing as a service to government ministries and departments, researchers, scientists, academia, and developers to enable advances in areas such as manufacturing, healthcare, agriculture, and aerospace engineering.

Did you Know

AWS will provide hosting with technical and programmatic support