The Reserve Bank of India (RBI) has granted non-banking institutions licence to Mahalaxmi Cooperative Bank Ltd, Dharwad, Karnataka, after cancelling its banking permit.
This will not stop the bank from conducting the business of ‘banking’ and acceptance of deposits from non-members with immediate effect.
India’s fifth largest stock broker ICICI Securities announced that it will become a wholly-owned subsidiary of its parent company ICICI Bank upon delisting.
As part of the acquisition, which is akin to merger but not merger, public shareholders of ICICI Securities would be allotted 67 equity shares of ICICI Bank for every 100 equity shares of the company.
The Asian Development Bank (ADB)said it has approved a USD 50 million loan to the Nepal government to support the implementation of policy reforms and help improve the Himalayan nation's domestic and international trade with its key economic partners like India and Bangladesh.
Kotak Mahindra Bank, in collaboration with National Payments Corporation of India (NPCI), has introduced the facility of linking its RuPay Credit Card to UPI (Unified Payments Interface) apps.
Customers are no longer needed to carry their physical credit card.
The merger between HDFC Bank and HDFC will give birth to a financial powerhouse that will claim the fourth spot in equity market capitalisation, trailing only JPMorgan Chase, Industrial and Commercial Bank of China and Bank of America.
With the merger set to take effect on July 1, the new HDFC Bank entity will serve a staggering customer base of around 120 mn. individuals.
India and Philippines decided to expand their defence partnership through upgraded official level interaction among defense agencies, opening of the resident Defense Attaché office in Manila, and consideration of India’s offer for concessional Line of Credit to buy defence equipment.
They will looked forward to the signing of the MoU on enhanced maritime cooperation.
Internet shutdowns by law enforcement agencies like the one in Manipur and Punjab cost $1.9 billion to the Indian economy in the first half of 2023.
The shutdowns also led to a loss of nearly $118 million in foreign investment and triggered over 21,000 job losses, the global non-profit Internet Society said in its report 'Netloss'.
Indian senior men's football team has climbed to the 100th spot in the latest FIFA Men's Football Rankings.
Notably, FIFA World Cup 2022 winners Argentina are the top-ranked team with 1843.73 points followed by France and Brazil. England rose by one place to reach the fourth place while Belgium slipped down by one place to reach the fifth spot.
In his 2023 report on Children and Armed Conflict, the UN chief said, "In view of the measures taken by the government to better protect children, India has been removed from the report in 2023."
In his latest report, he also called upon India to implement the remaining measures identified in consultation with his special representative and the United Nations.
UN Secretary-General: Antonio Guterres.
The Sugarcane Breeding Institute in Coimbatore, in partnership with the Indian Sugar Mills Association (ISMA) based in New Delhi, signed a Memorandum of Understanding (MoU) to launch a pioneering project aimed at developing location-specific and climate-resilient sugarcane varieties.
President of ISMA, Aditya Jhunjhunwala.
All panchayats across the country will mandatorily use digital payments for all development work and revenue collection this Independence Day onwards, and will be declared UPI-enabled.
The Indian Institute of Technology, Kharagpur, is developing a tamper-proof signalling system based on blockchain technology for the Indian Railways. Embedded with enhanced safety measures, the new system would complement the existing Data Logger which is considered the ‘Black Box’ of rolling stock.
India to host an exhibition on currency notes of G 20 countries showcasing the UNESCO world heritage sites featured on them. The exhibition would be held at the Indira Gandhi National Centre for Arts from June 30 to July 9. The IGNCA is an autonomous body under the Culture Ministry.
The BRICS nations may agree to induct around five new members into the grouping during its August leadership summit, to be hosted by South Africa. Out of the 25 countries that are keen to join the grouping, while Saudi Arabia’s entry is almost certain, other frontrunners include Indonesia, the UAE, Egypt, and Argentina.
BRICS headquarter: Shanghai, China
India's KABIL, a state-owned joint venture formed to scout for minerals overseas, will "shortly" sign an agreement with Argentina to secure a few lithium blocks.