Daily News

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SBI continues to lead debit card market, HDFC leads credit cards for October 2022

The country's largest lender, State Bank of India continues to dominate the debit card, market in October 2022, with a 29% share, revealed data by 1 Lattice (previously PGA Labs).

In the credit cards market, India's largest private sector bank, HDFC bank led the share with a whopping 21 per cent.

The lead was followed by SBI Card (19%), ICICI Bank (17%), Axis Bank (11%).

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CSE and DST join hands to develop EV batteries suited for India

This joint initiative of the Department of Science and Technology (DST) and The Centre for Science and Environment (CSE) is aimed at addressing these gaps and to create a platform that will assess, evaluate and identify technology solutions that are safe, have locally appropriate supply chain systems and can be customized for the various vehicle applications.

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Government approves continuation of interest subvention scheme for short-term crop loans

The government has approved the continuation of interest subvention scheme for short-term loans of up to Rs 3 lakh for agriculture and allied activities availed through Kisan Credit Card (KCC) during the current and the next fiscals.

An additional interest subvention of 3 per cent per annum is provided to farmers who repay loans in time.

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Under the scheme, farmers get loan at a concessional interest rate of 7 per cent.

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Mumbai becomes the first city in South Asia to top CDP’s climate action list

As Egypt hosted COP27, Mumbai has become the first Indian city to be added to the A-list in the 5th Annual Cities Report published by CDP, a non-profit organisation that runs the world’s environmental disclosure system for companies, cities, states, and regions – recognises the important role that cities play in taking bold actions to mitigate and adopt to climate change.

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India carries out successful training launch of Intermediate Range Ballistic Missile, Agni-3 in Odisha

India carried out a successful training launch of an Intermediate Range Ballistic Missile, Agni-3 from APJ Abdul Kalam Island in Odisha. The successful test was part of routine user training launches carried out under the aegis of the Strategic Forces Command. The launch was carried out for a predetermined range and validated all operational parameters of the system.

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InsuranceDekho partners with LIC to offer latter’s products

InsuranceDekho, an insurtech, has entered into a strategic partnership with the Life Insurance Corporation of India (LIC) through which the latter’s products will be available for all customers on its platform pan-India.

Partnership with LIC would enable InsuranceDekho to provide the entire gamut of insurance solutions to customers throughout the country.

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Ankit Agrawal, CEO and Co-founder, InsuranceDekho.

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Indian, Indonesian troops engage in joint training exercise 'GARUDA SHAKTI' in Karawang

A contingent of Indian Special Forces troops are currently engaged in a bilateral joint training Exercise GARUDA SHAKTI with Indonesian Special Forces at Sangga Buana Training Area,in Karawang. The Exercise is the eighth edition of the series of bilateral exercises under this banner and this is a part of military-to-military exchange programs.

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DPIIT launches startup applications for registration on MAARG portal

The Department for Promotion of Industry & Internal Trade launched startup applications for registration on the MAARG portal, the National Mentorship Platform by Startup India.MAARG portal, (Mentorship, Advisory, Assistance, Resilience&Growth) is a one stop platform to facilitate mentorship for startups across diverse sectors, functions, stages, geographies, and background.

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Balances under SDF to be included in Liquidity Coverage Ratio: RBI to Banks

The Reserve Bank of India (RBI) has told banks that overnight balances held by them under the standing deposit facility (SDF) will be eligible as ‘Level 1 High Quality Liquid Assets (HQLA)’ for computation of the Liquidity Coverage Ratio (LCR). This will enhance the ability of banks to achieve LCR.

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GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI

In a major development, the Goods and Services Tax network (GSTN) has been included to the account aggregator (AA) network as a financial information provider (FIP) to facilitate cash flow lending to the micro, small, and medium enterprises, the Reserve Bank of India (RBI) said. Department of revenue shall be the regulator of GSTN for this specific purpose and GST returns.

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Babu Mani, former Indian football team captain, dies aged 59

Babu Mani, who was an integral part of the Indian football team in the 1980s, died after a prolonged battle with liver-related issues. He was 59.Babu Mani made his India debut against Argentina in Kolkata during the 1984 Nehru Cup and went on to play 55 matches for the country. He was also a part of the first Indian squad to qualify for the Asian Football Confederation.

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Mani was also a part of Indian team which won gold medals at the 1985 and 1987 Olympics.

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Romal Shetty is CEO-designate of Deloitte India

Senior consultant Romal Shetty has been nominated CEO-designate of Deloitte India. Shetty has been a President, Consulting at Deloitte India and is based out of the Bengaluru office. He is a Fellow Member of the ICAI and a Certified Information Systems Auditor. He has 20 years of experience in advisory services across large scale transformation programs.

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Discounts lift Russia's fertiliser exports, becomes top supplier to India: Report

Russia for the first time became the biggest fertilizer supplier to India in the first half of the 2022/23 fiscal year by offering discounts over prevailing global prices, cornering more than a fifth of the market share. India's fertilizer imports from Russia surged 371% to a record 2.15 million tonnes in the first six months of the yeear started on April 1.

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Australian parliament approves free trade agreement with India

India and Australia would now implement the free trade agreement on a mutually agreed date as the Australian Parliament approved the pact between the two countries.The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needed ratification by the Australian parliament before its implementation. In India, such pacts are approved by the Union Cabinet.

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Australian Prime Minister Anthony Albanese

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More than 25,000 ponds constructed under Mission Amrit Sarovar to overcome water crisis in rural areas

The government has completed the construction of more than 25,000 Amrit Sarovars within the 6 months. Under Mission Amrit Sarovar, a target has been set to build 50,000 Amrit Sarovars by 15th August, 2023.Mission Amrit Sarovar was launched on 24th April,2022 with the resolve to build 75 Amrit Sarovars during the 75th year of independence as a part of Azadi ka Amrit Mahotsav

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Qatar signs world's 'longest' gas supply deal with China

QatarEnergy announced a 27-year natural gas supply deal with China, calling it the "longest" ever seen as it strengthened ties with Asia at a time when Europe is scrambling for alternative sources.The state energy company will send four million tonnes of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation.

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Tamil Nadu batter Narayan Jagadeesan breaks world record for highest ever List A score

Tamil Nadu batter Narayan Jagadeesan on Monday broke the world record for the highest ever individual score in List A cricket by hammering a 141-ball 277 against Arunachal Pradesh in Vijay Hazare Trophy here. The 26-year old bettered the record of Ali Brown's previous high of 268 for Surrey against Glamorgan in 2002.

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He also went past Prithvi Shaw for the highest score ever in Vijay Hazare Trophy.