Daily News

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South Indian Bank launches digital platform for hassle-free account opening

South Indian Bank has introduced SIB SWIFTe, an innovative and customer-centric digital account opening platform that eliminates the hassle of paper-based documentation.

The platform prioritises customer convenience and transforms the account opening process, enabling the bank to swiftly on-board customers in less than five minutes.

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It provides a seamless start-to-finish digital experience for opening a Savings Account.

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KVG Bank launches new deposit scheme

Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme ‘Vikas Ashadeep 400 days’.

Shreekant M Bhandiwad, Chairman of KVGB, who launched this scheme, said the scheme is of a tenor of 400 days with an interest rate of 7.50 per cent for senior citizens and 7 per cent for general public.

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Education loans register 17% growth in FY23, turning positive for first time in five years

For the first time in five years, growth in education loans not only turned positive but also registered a 17 per cent surge in the last financial year ended March, 2023.

According to Reserve Bank of India’s (RBI) data, the outstanding portfolio under education loans grew 17 per cent at ₹96,847 crore in the year 2022-23 as against ₹82,723 crore in the previous year.

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India, UAE target USD 100 bn non-oil trade by 2030

India and the UAE set a target to increase the non-oil trade from USD 48 billion to USD 100 billion by 2030.

The goal to achieve USD 100 billion non-oil trade was set in the first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA).

The agreement was implemented on May 1 last year

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RBI permits banks to undertake compromise settlement of willful defaults, fraud accounts

In order to ensure maximum recovery from distressed assets, the Reserve Bank of India has allowed banks to go for compromise settlement of fraud accounts and willful defaults.

The objective would be to maximise the possible recovery from a distressed borrower at minimum expense, in the best interest of the Regulated Entity (RE).

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Amitava Mukherjee gets 3 months extension as CMD of NMDC

NMDC Limited’s Director (Finance) of Amitava Mukherjee, who is also holding the additional charge of NMDC Limited’s Chairman & Managing Director (CMD) post, has been given tenure extension on CMD role.

Thus, he will be holding the additional charge as CMD of NMDC Limited for a further period of three months with effect from June 1, 2023 to August 31, 2023.

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SJVN Green Energy secures 200 MW wind power project from SECI

State-owned SJVN Limited said that SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN Limited has been awarded the full quoted capacity of 200 MW in the Phase-XIV of the bidding process conducted by the Solar Energy Corporation of India (SECI).

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INDO-MALDIVES JOINT MILITARY EXERCISE “EKUVERIN” COMMENCED AT CHAUBATIA, UTTARAKHAND

The 12th edition of joint military exercise “Ex Ekuverin” between the Indian Army & the Maldives National Defence Force has commenced at Chaubatia, Uttarakhand from 11 to 24 June 2023.

Ekuverin meaning ‘Friends’ is a bilateral annual exercise conducted alternatively in India and Maldives.

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The 11th edition of the exercise was held in Maldives in December 2021.

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Vigyan -Vidushi – 2023, a three-week summer programme to address gender balance in the discipline of Physics

Vigyan -Vidushi – 2023, an initiative to address the gender balance in the discipline of Physics at the doctorate level, has commenced at the Homi Bhabha Centre for Science Education (HBCSE), in Mumbai from.

40 women students from forty different institutes all over India, who have just completed their first year MSc in Physics, are attending this programme .

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Indonesia Open Badminton tournament begins in Jakarta

Indonesia Open badminton tournament begins in Jakarta today. Top Indian players, including PV Sindhu and HS Prannoy, will be seen in action in the opening round of the tournament.

In Women's Singles, two-time Olympic medallist PV Sindhu will open her campaign against local favourite Gregoria Mariska Tunjung

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G20 Development Ministers' conclave in Varanasi adopts India-backed action plan on Sustainable Development Goals

The G20 Development Ministers conclave in Varanasi has adopted an ambitious seven-year action plan put forward by India to accelerate progress on the Sustainable Development Goals (SDGs) by the G20 countries.

It also adopted another document that aimed to enhance cooperation and partnerships for sustainable lifestyles to complement climate mitigation.

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India & ADB ink USD 130 mn loan agreement to promote horticulture in Himachal Pradesh

The Ministry of Finance stated that the central government and the Asian Development Bank (ADB) have joined forces in a significant endeavour to enhance agricultural productivity, improve irrigation accessibility, and promote horticulture agribusinesses in the state of Himachal Pradesh.

A loan agreement of USD 130 million was signed between the two entities.

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India, UAE Discussions On Rupee-Dirham Trade Progressing Very Fast

Discussions between the central banks of India and UAE on promoting bilateral trade in the rupee and dirham to reduce transaction cost is progressing at a "very" fast pace and an outcome is expected soon on this.

India and the UAE have already implemented a free trade agreement (FTA) in May last year to give a boost to bilateral trade and economic ties.

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International Albinism Awareness Day II 13 June

The world is observing International Albinism Awareness Day on June 13 (Tuesday) in an United Nations effort to stop the brutalities against people with albinism.

Albinism is a rare and genetically inherited condition resulting in little or no pigmentation (melanin) in the skin, hair, and eyes, causing vulnerability to the sun and bright light.

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PNB launches IVR based UPI 123PAY

Punjab National Bank (PNB) has launched an IVR-based UPI solution, UPI 123PAY, in line with the Digital Payment Vision 2025 of a cashless and cardless society.

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