Daily Current Affairs 29 June 2022 for Banking/Insurance/SSC and other related exams.
World Bank approves $250 mn loan for road safety
The World Bank has approved a $250 million loan to support the Government of India’s road safety programme for seven States under which a single accident reporting number will be set up to better manage post-crash events.
- The India State Support Program for Road Safety, financed by the World Bank, will be implemented in Andhra Pradesh, Gujarat, Odisha, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal. The $250 million variable spread loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18 years including a grace period of 5.5 years.
- The project will also establish a national harmonised crash database system in order to analyse accidents and use that to construct better and safer roads.
Indian private space sector: 2 start-ups authorised to launch payloads
The Indian Space Promotion and Authorisation Centre (IN-SPACe) has started authorising two Indian private firms, marking the beginning of private space sector launches in the country.
- Hyderabad’s Dhruva Space Pvt Ltd and Bengaluru’s Digantara research & technologies Pvt Ltd were authorised by IN-SPACe on 24 June to launch their payloads.
Karnataka launches ‘Kashi Yatra’ scheme
The BJP-led government in Karnataka launched the ‘Kashi Yatra’ project which offers around 30,000 pilgrims cash assistance of ₹5,000 each to take up a pilgrimage to the Kashi Vishwanath Temple in Varanasi, Uttar Pradesh.
- For this scheme, the government will be using funds of up to ₹7 crores from the accounts head of ‘Assistance to Manasa Sarovara Pilgrims’ which was announced in the chief minister’s budget speech for the financial year.
Assam Cabinet approves JV company with Railways to boost network
The Assam Cabinet approved formation of a joint venture company between the state government and the railway ministry to increase the railway network in the state.
- In Assam Rail Infrastructure Development Corporation Limited (ARIDCL), the state government will hold a share of 51 per cent and the ministry the remaining 49 per cent.
BANKING & FINANCE
RBI grants Prepaid Payment Instrument licence to Mufin Finance
Mufin Finance, one of the leading NBFCs, has received in-principal RBI approval for issuance of semi-closed prepaid payment instruments.
- A semi-closed PPI licence allows digital banks, fintech firms and large consumer-facing applications to roll out features such as digital payment solutions for lending.
- Mufin Finance is the fourth NBFC to receive such a licence from the RBI, after leading brands such as Bajaj Finserve, Manapurram and Paul Merchants.
- The company is in the process of setting up building blocks for launching MufinPay, a digital payment solution which will complement its lending business.
BUSINESS & ECONOMY
BSE, MACCIA join hands to create awareness on SME listing across Maharashtra
Leading stock exchange BSE has collaborated with the Maharashtra Chamber of Commerce, Industry and Agriculture to promote and create awareness in the state on the benefits of listing on its SME platform.
- Through this partnership, BSE will provide intellectual and manpower support to enterprises registered with the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) to get listed on the BSE SME platform.
India would become $5-trillion economy by 2026-27: CEA Anantha Nageswaran
India would become a $5 trillion economy by 2026-27 and $10 trillion by 2033-34, Chief Economic Adviser (CEA) V Anantha Nageswaran said at an event organised by UNDP India.
Protean and PayNearby tie-up to offer paperless PAN services
Protean eGov Technologies Ltd (formerly NSDL e-Governance Infrastructure Ltd) and PayNearby has announced a partnership to offer PAN-related services for PayNearby’s retail partners through Aadhaar and biometric or SMS-based OTP authentication for their customers.
Pallonji Mistry, chairman of Shapoorji Pallonji group, passes away at 93
Pallonji Mistry, chairman of Shapoorji Pallonji group, passed away. He was 93.
- The largest individual shareholder in the Tata Group with an 18.4 per cent holding in the conglomerate, Mistry, ran the Mumbai-based Shapoorji Pallonji group, along with his family. The group, established in 1865, works across segments such as engineering and construction, infrastructure, real estate, water, energy and financial services.