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International Anti-Corruption Day 2022 | December 9

International Anti-Corruption Day is observed annually on December 9 with an aim to raise awareness against corruption and the measures that can be implemented to fight it. The UN General Assembly adopted the United Nations Convention against Corruption on October 31, 2003, and designated December 9 as International Anti-Corruption Day.

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Cyclone Mandous intensifies; 3 Tamil Nadu districts on red alert

According to the India Meteorological Department (IMD), a deep depression over the southwest and adjoining southeast Bay of Bengal intensified into a cyclonic storm Mandous. Consequently, the weather monitoring agency has issued an alert for the north Tamil Nadu, Puducherry, and south Andhra Pradesh coasts.

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Mandous means "treasure box". United Arab Emirates (UAE) has given the cyclone this name.

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Sushmita Shukla appointed First Vice President, Chief Operating Officer of Federal Reserve Bank of New York

Sushmita Shukla, an Indian-origin veteran of the insurance industry, has been appointed as First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, making her the second-ranking officer at the prominent institution.

The appointment was approved by the Board of Governors of the Federal Reserve System.

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President and Chief Executive Officer of the New York Fed John Williams.

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Vodafone CEO Nick Reed to step down from his role

Vodafone Chief Executive Officer Nick Read will step down as head of organisation at the end of December 2022. He will be replaced on an interim basis by Margherita Della Valle who has been serving as Chief Financial Officer OF Vodafone Group.

Nick Read has been serving the group for more than 20 years and is holding the chair of CEO for the last four years.

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Ashok Leyland appoints Shenu Agarwal as MD and CEO

Ashok Leyland, a subsidiary of Hinduja group, announced on December 8, 2022, that they had appointed Shenu Agarwal as the new Managing Director and Chief Executive Officer for a period of five years from December 8, 2022, to December 7, 2027.

Agarwal joins Ashok Leyland from Escorts Kubota Ltd, where he was its President.

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International Day of Commemoration and Dignity of the Victims of the Crime of Genocide and of the Prevention of Crime | 9 Dec

International Day of Commemoration and Dignity of the Victims of the Crime of Genocide and of the Prevention of this Crime is commemorated on December 9 of every year around the world. It is observed to raise awareness about the greatest crime perpetrated by man against man, the violation of human rights and how it can be prevented in the future.

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RBI signs Currency Swap Agreement with Maldives Monetary Authority

The Reserve Bank of India (RBI) has signed a Currency Swap Agreement with the Maldives Monetary Authority under the SAARC Currency Swap Framework. This agreement will enable the Maldives authority to make drawals in multiple tranches up to a maximum of 200 million dollars from the RBI.

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9th World Ayurveda Congress and Arogya Expo 2022 inaugurated in Goa

9th World Ayurveda Congress (WAC) was inaugurated at Panaji, Goa. The 9th WAC aims to showcase the efficacy and strength of the AYUSH systems of medicine at the Global level.

A MoU was signed between All India Institute of Ayurveda (AIIA) and Rosenberg’s European Academy of Ayurveda, Germany to facilitate advanced studies in traditional Indian medicine systems.

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Under UDAN, 453 routes have commenced, operationalizing 70 Airports including 2 Water Aerodrome & 9 Heliports

Ministry of Civil Aviation launched Regional Connectivity Scheme (RCS) - UDAN (Ude Desh ka Aam Nagrik) on 21.10.2016 to stimulate regional air connectivity and making air travel affordable to the masses. As on 29.11.2022, after four rounds of bidding under UDAN, 453 routes have commenced, operationalizing 70 Airports including 2 Water Aerodrome & 9 Heliports.

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ASK Capital gets Central Bank of Ireland nod to launch India-based fund

ASK Capital has received approval from the Central Bank of Ireland to launch an India-based fund ASK Indian Entrepreneur Fund through the UCITS route. ASK is the fourth asset/wealth management firm in India to receive approval for an UCITS (Undertakings for Collective Investment in Transferable Securities) fund. Kotak AMC, Whiteoak Capital and UTI AMC already have such fund

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ADB approves $780 mn loan to expand Chennai's metro rail network

The Asian Development Bank (ADB) approved financing of $780 million to build new lines for Chennai’s metro rail and improve the network’s connectivity with bus and feeder services. ADB and the India government last year signed a deal for a $500 million loan to expand Bengaluru’s metro rail network by constructing two new lines of 56 km length.

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ADB Eetablished in 1966, it is owned by 68 members—49 from the region.

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ICICI Bank raises Rs 5,000 cr via infrastructure bonds for funding projects

ICICI Bank has raised Rs 5,000 crore through infrastructure bonds for funding projects in segments like power and roads, etc. The coupon for seven-year paper was fixed at 7.63 per cent, about 25 basis points above yield on government benchmark bonds with similar maturity.The base issue size for ICICI Bank’s infra bonds was Rs 1,000 cr with greenshoe option of Rs 4,000 cr.

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ICICI Bank’s infrastructure bonds carry “AAA” credit rating from CRISIL.

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UPI to now allow blocking money for multiple debits, paves way for ASBA

The Reserve Bank of India (RBI) enhanced the capabilities of the Unified Payments Interface (UPI) by introducing a ‘single-block-and-multiple debits’ functionality, which allows a customer to enable a payment mandate against a merchant by blocking funds for specific purposes in his/her bank account which can be debited, whenever needed.

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CM Eknath Shinde announces Maharashtra will establish separate Divyang department

Maharashtra Chief Minister Eknath Shinde has announced that the state will establish a separate Divyang department for the welfare of differently-abled persons with a fund allocation of 1,143 crore rupees.The government has created 2,063 posts for the new department. He added that Maharashtra is the first state to have such a department.

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India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3

According to Worldline India's 'Digital Payments Report', India logged 23.06 billion digital transactions worth Rs 38.3 lakh crore in the third quarter of FY23. These digital transactions include payment done by Unified Payments Interface (UPI), debit and credit cards, prepaid payment instruments like mobile wallets, and prepaid cards.

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Spice Money partners with Axis Bank to push financial inclusion in rural India

Fintech player Spice Money has partnered with private sector lender Axis Bank to facilitate opening of instant, zero balance savings or current accounts for rural citizens through its Adhikari network.Through this association, Spice Money aims to bridge the rural-urban divide & bring financial inclusivity by providing access to banking products to the last mile.

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FAO Opening Ceremony of International Year of Millets 2023 held in Rome, Italy

The Food and Agriculture Organization (FAO) of the United Nations, organized an opening ceremony for the International Year of Millets – 2023 (IYM2023) in Rome, Italy. An Indian delegation led by Sushri Shobha Karandlaje, Minister of State, Agriculture & Farmers Welfare along with Smt. Shubha Thakur, Joint Secretary (Crops), DA&FW and other senior officials were present.

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