Daily News

Image

French author Annie Ernaux wins 2022 Nobel Prize for Literature

The Nobel prize in literature has been awarded to French author Annie Ernaux, for the courage and clinical acuity with which she uncovers the roots, estrangements and collective restraints of personal memory.

Last year's Nobel literature prize went to the Tanzanian-born, UK-based writer Abdulrazak Gurnah.

Did you Know

The prize is awarded by the Swedish Academy and is worth 10 million Swedish crowns.

Image

RBI launches DAKSH- Reserve Bank’s Advanced Supervisory Monitoring System

Shri Shaktikanta Das, Governor, launched a new SupTech initiative named DAKSH - Reserve Bank’s Advanced Supervisory Monitoring System", which is expected to make the Supervisory processes more robust. DAKSH means 'efficient’ & 'competent', reflecting the underlying capabilities of the application.

Did you Know

Image

RBI introduces Internal Ombudsman mechanism for Credit Information Companies

The Reserve Bank of India (RBI) on October 6 introduced the Internal Ombudsman mechanism for Credit Information Companies.

The RBI, in the 'Statement on Developmental and Regulatory Policies', had said it was necessary for all Credit Information Companies (CICs) to appoint Internal Ombudsman (IO) at the apex of their internal grievance redress mechanism by April 1, 2023.

Did you Know

Image

Centre Appoints Delhi HC Judge Justice Dinesh Kumar Sharma As Presiding Officer Of UAPA Tribunal

The Central Government has appointed Delhi High Court judge Justice Dinesh Kumar Sharma as the Presiding Officer of the Unlawful Activities (Prevention) Tribunal which will review the ban imposed on the Popular Front of India (PFI) and its affiliated organisations.

The UAPA Tribunal consists of only one person, who has to be a High Court judge.

Did you Know

Image

RBI approves reappointment of YES Bank MD and CEO Prashant Kumar for 3 years

Mr. Kumar was appointed as the head of the bank after YES Bank was bailed out by a consortium of lenders and put under the YES Bank Reconstruction Scheme in March 2020. Prior to joining YES Bank, Kumar was Deputy MD and CFO of State Bank of India.

YES Bank, India's fourth largest private sector Bank was incorporated in the year 2004.

Did you Know

Image

World Cotton Day | 7 October

The initiative of World Cotton Day started in 2019, when four cotton producers in sub-Saharan Africa– Benin, Burkina Faso, Chad and Mali, popularly called the Cotton Four, proposed a World Cotton Day celebration on 7 October in the World Trade Organization.The United Nations has officially recognised this World Cotton Day.

Did you Know

The theme for 2022 is Weaving a better future for cotton.

Image

Sebi cancels certificate of registration granted to Brickwork Ratings

The Securities and Exchange Board of India cancelled the recognition certificate granted to Brickwork Ratings India, one of the seven registered credit rating agencies in the country, for 'repeated lapses' and irregularities in “discharging its duties”.Sebi said Brickwork, which counts Canara Bank as its promoter, had failed to take corrective measures despite penal action

Did you Know

Image

56 mn Indians may have turned poor in 2020 due to pandemic: World Bank

The World Bank in its latest “Poverty and Shared Prosperity” made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million.

Did you Know

Image

Historic MoU signed to launch India’s Rupay debit card in Oman

National Payments Corporation of India and Central Bank Of Oman signed a historic MoU to launch the Rupay debit card in Oman, paving the way for a new era of financial connectivity.In west Asia, RuPay card is used or is in the process of being used in the UAE, Bahrain, Saudi Arabia. UAE was the first country in the gulf where RuPay was launched during PM Modi's 2019 visit.

Did you Know

It was launched in Singapore in May 2018, followed by Bhutan and the Maldives.

Image

Bank of India Mutual Funds appoints Mohit Bhatia as CEO

Bank of India Investment Managers Private Ltd has announced that it has appointed Mohit Bhatia as its chief executive officer. Bank of India Investment Managers Private Ltd is a wholly-owned subsidiary of Bank of India. As per industry estimates, Bank of India Mutual Fund had an average AUM of ₹3,054.36 for the July- September quarter.

Did you Know

Image

HDFC Life launches Insure India Campaign

HDFC Life, one of India's leading life insurers has launched the 'Insure India' campaign that is aimed at educating Indians on the benefits of life insurance as a product category.The objective of this campaign is to educate Indians about life insurance thereby motivating them to secure their future with this unique financial product that offers benefits.

Did you Know

Image

JSW Cement secures Rs 400 cr as sustainability-linked loan from MUFG Bank

JSW Cement has raised Rs 400 cr from MUFG Bank India as its first sustainability-linked loan.While this credit line is the first sustainability-linked loan for the company, it is also MUFG Bank India's first transaction undertaken out of its new IFSC unit branch launched in August 2022 in the Gift City. Mitsubishi UFJ Financial Group is headquartered in Tokyo.

Did you Know

Parth Jindal-Managing Director of JSW Cement

Image

Google to build its first cloud region in Greece

Alphabet Inc's Google will set up its first cloud region in Greece, giving a boost to the country's efforts to become a world cloud computing hub.A cloud region usually is based around a cluster of data centres. Google's investment comes two years after Microsoft Corp. decided to build a data centre hub in the country.

Prime Minister of Greece- Kyriakos Mitsotakis

Did you Know

Capital of Greece- Athens

Image

World Bank slashes India's economic growth forecast to 6.5% for FY23

The World Bank slashed its growth estimate for India by one percentage point to 6.5 per cent for FY23, citing the blowback of the Russia-Ukraine war and ongoing global monetary policy tightening.This is the lowest growth estimate by any multilateral agency for FY23. Reserve Bank of India pared its growth estimate for FY23 to 7 per cent from 7.2 per cent estimated earlier.

Did you Know

Image

NABARD sanctions Rs 222 crore to strengthen school infrastructure in rural Punjab schools

National Bank For Agriculture And Rural Development (NABARD) has sanctioned Rs 221.99 crore to strengthen school infrastructure in rural schools in Punjab. NABARD has sanctioned the money from the Rural Infrastructure Development Fund (RIDF) for the construction of 2,328 additional classrooms, 762 labs, and 648 playgrounds in rural schools in all 23 districts of Punjab.

Did you Know

Dr. G.R. Chintala - Chairman of National Bank for Agriculture and Rural Development

Image

India, New Zealand navies sign pact on White Shipping Information Exchange

Indian Navy signed an agreement on White Shipping Information Exchange with the Royal New Zealand Navy to promote greater transparency in the Maritime Domain, the Ministry of Defence. White shipping information refers to exchange of relevant advance information on the identity and movement of commercial non-military merchant vessels.

Did you Know

Image

Ales Bialiatski, Russia’s Memorial and Ukraine’s Center for Civil Liberties win Nobel Peace Prize 2022

The Norwegian Nobel Committee on Friday declared Belarusian activist Ales Bialiatski, Russian human rights organisation Memorial, and the Ukrainian NGO Center for Civil Liberties (CLL) as the winners of the 2022 Nobel Peace Prize. The three of them have been awarded for "outstanding effort to document war crimes, human rights abuses, and abuse of power".

Did you Know