Daily Current Affairs 15 January 2022 for Banking/Insurance/SSC and other related exams.
India grants financial assistance of over USD 900 million to Sri Lanka to overcome forex crisis
India has announced a USD 900 million loan to Sri Lanka to build up its depleted foreign reserves and for food imports, amidst a shortage of almost all essential commodities in the island nation.
- The governor of the Central Bank Ajith Nivard Cabraal said that the island nation is negotiating a USD one billion loan from India to import goods from the country.
- It must be noted that Sri Lanka is currently facing a shortage of almost all essential commodities due to a shortage of dollars to pay for the imports. India is extending its support through the Reserve Bank of India (RBI).
Philippines to purchase BrahMos cruise missiles from India
India has finally bagged a $375 million (Rs 2,770 crore) deal to export BrahMos supersonic cruise missiles to the Philippines, which has had several bitter tiffs with China over territorial claims in the South China Sea in recent months.
- The Philippines’ Department of National Defence has issued the “notice of award” to the BrahMos Aerospace Private Ltd, under which the actual contract is likely to be inked soon.
- This first-ever contract to export the 290-km range BrahMos missiles, which India has developed jointly with Russia, will pave the way for more such deals with the Philippines as well as other ASEAN countries like Indonesia and Vietnam.
BANKING & FINANCE
Axis Bank ties up with MinkasuPay for smoother biometric-based net banking payments
Axis Bank has tied up with MinkasuPay, a mobile payments company based in Silicon Valley, California, to offer a smooth net banking payment experience to its customers through biometric authentication solution.
- The transaction time will reduce from the current 50-60 seconds to just 2-3 seconds with fingerprint or face ID authentication, while increasing success rates significantly.
- Axis Bank through this partnership with MinkasuPay will enable customers to make net banking payments in merchant apps using Fingerprint or Face ID, without the need of usernames, passwords, and OTPs. This will enhance user experience, while bolstering security and reducing cyber-fraud.
Yes Mutual Fund rechristened as White Oak Capital Mutual Fund
Yes Asset Management’s name has been changed to White Oak Capital Asset Management with effect from January 12.
- Further, Yes Mutual Fund will now be called White Oak Capital Mutual Fund, Aashish P Sommaiyaa, Chief Executive Officer of White Oak Capital.
- Founded by Prashant Khemka, formerly CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses, White Oak Capital group provides investment management and advisory services for equity assets of over Rs 42,000 crore.
CDSL’s arm gets SEBI nod to set up Accreditation Agency
CDSL has announced that its wholly owned subsidiary – CDSL Ventures Limited, has received market regulator Securities and Exchange Board of India’s (SEBI) approval to set up an Accreditation Agency for a period of 3 years with effect from February 01, 2022 for accreditation of eligible Investors.
- Persons desirous of being reckoned as AIs can approach an accreditation agency for accreditation.
BUSINESS & ECONOMY
Power Grid ties up with Africa50 to develop transmission project in Kenya
Power Grid Corporation of India Ltd has signed a joint development agreement with Africa50, a pan-African infrastructure investment platform to continue to develop the Kenya Transmission Project on a public-private partnership basis.
- Under a public-private partnership (PPP) framework, the project involves the development, funding, building, and operation of the 400kV Lessos – Loosuk and 220kV Kisumu – Musaga transmission lines.
- When finished, the project will be Kenya’s first Independent Power Transmission (IPT) and will serve as a benchmark in Africa as the first PPP-based financing of transmission lines
Former West Indies Cricket Captain Clive Lloyd receives Knighthood
Cricketing great and former West Indies captain Clive Lloyd was given the knighthood for his service towards the game of cricket.
- The Clive Llyod knighthood investiture was performed by the Duke of Cambridge at Windsor Castle.
- Along with Clive Llyod Current England ODI and T20 Skipper Eoin Morgan received a CBE for his services to Cricket.