The Reserve Bank of India (RBI) has started handing out the payment aggregator (PA) licences to eligible players. Pine Labs, Razorpay and American payments player Stripe have become the first players to receive the in-principle approval for the license.
The companies are required to show a net worth of INR 25 Cr by the end of FY23.
RBI has imposed a penalty of Rs 5.72 crore on Federal Bank for deficiencies in regulatory compliance. A penalty of Rs 70 lakh has also been imposed on Bank of India for non-compliance with certain provisions of Know Your Customer (KYC) norms and instructions on 'compliance function in banks' issued by RBI.
Former Japan Prime Minister Shinzo Abe, the longest-serving leader, died after being shot while campaigning for a parliamentary election, public broadcaster NHK said.
It was the first assassination of a sitting or former Japanese premier since the days of pre-war militarism in the 1930s.
Uni-verse, the Metaverse Virtual Lounge of the Bank, hosts Bank’s products information and Videos in the initial phase. Uni-verse will deliver a unique experience of Banking to the Customers who can roam around the Lounge, get information of Bank’s Deposit, Loan, Govt. Welfare Schemes, Digital initiatives etc. as if they are experiencing real world.
This initiative is in partnership with M/s Tech Mahindra.
National Payments Corporation of India has collaborated with Jamnalal Bajaj Institute of Management Studies(JBIMS) to co-create a Master’s in Management Studies program in Digital Payments for its employees.
This 1st-of-its-kind hybrid program for NPCI employees with specialization in "Digital Payments" will serve as an enabling platform for bright & committed minds.
Alvaro Lario has been appointed as the 7th President of the International Fund for Agricultural Development (IFAD). IFAD plays a crucial role in increasing the resilience of rural small-scale producers. The Fund’s investments in climate adaptation and sustainable food systems are helping to achieve many of the Sustainable Development Goals.
Prime Minister Shri Narendra Modi attended the first ‘Arun Jaitley Memorial Lecture’ (AJML) at Vigyan Bhavan, New Delhi. Prime Minister also addressed the gathering during the event.
The keynote address at the first AJML was delivered by Mr. Tharman Shanmugaratnam, Senior Minister, Government of Singapore.
The 8th Meeting of BRICS Communications Ministers was held in virtual mode under the presidency of China. Minister of Railways, Communications, Electronics and Information Technology Sh. Ashwini Vaishnaw, participated in the meeting and highlighted achievements of India in the field of ICT. He also underlined the reforms undertaken by Government in Telecom sector.
NMA has recommended that Sankalp Bhumi Banyan tree campus in Vadodara, where Dr. Ambedkar had taken a resolve to eradicate untouchability on 23th September, 1917 be declared as Monument of National Importance. This place is more than hundred years old and a witness to the beginning of social respect revolution heralded by Dr. Ambedkar.
Indian Air Force contingent has reached the midway point of the Tactical Leadership Programme (TLP) at Egyptian Air Force (EAF) Weapon School in Egypt (Cairo West Airbase). The programme commenced on 24 Jun and will culminate on 23 Jul 22. IAF is participating with three Su-30 MKI aircraft. Two C-17 aircraft were used for induction of the contingent.
Indian Navy’s stealth frigate INS Tarkash, visited Djibouti as part of her long range overseas deployment followed by Maritime Partnership Exercise with Sudan Navy. The ship is on a deployment to Rio de Janerio, which is intended to coincide with the Independence Day enabling her to hoist the tricolour in South America on the occasion as part of Azadi ka Amrit Mahotsav.
As part of the Digital India Week 2022 celebrations, the 3-day long virtual event on India Stack Knowledge Exchange kick started on 7th July 2022. The event is an opportunity to showcase India’s most significant contribution to the Digital world - the India Stack, which is a unified software platform to bring India’s 1.4 billion population into the Digital Age.
For the purpose of effective utilization of Remote Sensing and GIS technology, a web geo-portal has been developed through National Informatics Centre (NIC), initially for use by NCR Participating states and the Office of NCRPB.
The 8th Edition of the Webinar Series ‘Igniting Young Minds, Rejuvenating Rivers’ was organised by National Mission for Clean Ganga. The theme of the webinar was ‘Afforestation’. The Webinar series is organised with an aim to connect with the youth on the important issue of Ganga Rejuvenation.
Director General, National Mission for Clean Ganga, Shri G. Asok Kumar
The MoU will forge inter–Ministerial collaboration and strategic partnerships with the aim to achieving the Prime Minister’s ambitious target of Eliminating TB in India by 2025. This MoU will serve as a milestone to achieve the objective and target of TB Free India Campaign.
Rastriya Ispat Nigam Limited (RINL) has taken up several activities as part of Iconic Week being observed by Ministry of Steel starting from 4th to 10th July, 2022 as part of ‘Azadi Ka Amrit Mahotsav celebrations.
The President of India, Shri Ram Nath Kovind graced and addressed Yuva Sammelan organized by ‘My Home India’ in New Delhi. Commemorating the celebration of 75 years of independence under 'Azadi Ka Amrit Mahotsav', Yuva Sammelan will anchor through the people of India, the culture and achievements of our nation.
GMR Group has said its joint venture Angkasa Pura Aviasi has started operating the Kualanamu International Airport in Medan, Indonesia. Angkasa Pura Aviasi (APA) is a joint venture between GMR Airports Ltd and Indonesia's state-owned airport operator PT Angkasa Pura II.
GMR Group MD&CEO: Kiran Kumar Grandhi
Maharashtra has the maximum number of government-recognised startups, followed by states such as Karnataka and Delhi, as per DPIIT data.
City Union Bank (CUB) and Shriram General Insurance signed a corporate agency agreement, where the bank will distribute the latter’s insurance products through its branches.
MD & CEO, City Union Bank: N Kamakodi.
Kotak Mahindra Bank has acquired the Agri and Healthcare Equipment financing portfolio of De Lage Landen Financial Services India (DLL India), a subsidiary of Rabobank-owned De Lage Landen International.
Pre packaged and pre-labelled retail food items will attract GST rate at par with the branded ones.This means rate could be 5, 12 or 18 per cent. The new rates are coming into effect from July 18, 2022.
Chairman of Central Board of Indirect Taxes and Custom (CBIC): Vivek Johri
Sanjay Jaju, Additional Secretary in the Defence Ministry, recently said that India’s defence exports for 2021-22 were estimated at Rs. 13,000 crore, the highest ever. The private sector accounted for 70% of the exports.
Max Life Insurance Company Ltd. has launched Smart Capital Guarantee Solution, a life insurance product solution that combines three benefits.
Bali hosted the G20 Foreign Ministers’ Meeting (FMM) on 7—8 July 2022. Under the theme “Building a more peaceful, stable, and prosperous world together,” this meeting will act as a strategic forum to discuss global recovery efforts.
