Current Affairs February 6, 2017
Ujjivan Small Finance Bank launches operations
Ujjivan Small Finance Bank officially started its services on Feb 6 with five pilot branches from Bengaluru, aiming to become a leading mass market retail bank over the next five years by catering to the un-served and under-served customers.
Bank of Maharashtra ties up with Cigna TTK
Public sector lender Bank of Maharashtra has partnered with insurance company Cigna TTK Health to market the insurer’s products in the bank’s branches across the entire country.
Axis Bank ties up with Earthport
India’s third largest private bank, Axis Bank, has tied up with Earthport Plc, a cross-border payment network, (based in UK) to enable faster outbound cross-border payments for its customers through Earthport’s state-of-the-art global payments network.
- Axis Bank has become the first bank in India to connect with Earthport’s global payments network, which spans over 60 countries.
10 NBFCs surrender registration certificate
Reserve Bank announced that 10 Non Banking Finance Companies (NBFCs) have surrendered their registration certificate.
- These include – Supreme Securities, Island Leasing, Pinnacle Trades and Investments, Kalyani Mfg and Leasing, Sahyog Credits, M CT M Global Investments, Sree Sankari Benefit Funds, Wham Investments, M K W Finance and Shasun Leasing and Finance.
HDFC ERGO launches the First-of-its-Kind App on iWatch
HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, launched its Mobile Insurance Portfolio Organiser (IPO) App for their policy holders on iWatch.
- It is the first company in the sector to launch an app on the iWatch.
- This app makes it easy for HDFC ERGO customers to access details and other information related to their policies at a tap on iWatch.
Edelweiss Tokio Life Insurance awarded Best Life Insurer 2016
Edelweiss Tokio Life Insurance, the joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has been conferred the Winner – Best Life Insurer 2016, at the prestigious Outlook Money Awards which are announced annually.
Mastercard, CAIT plan campaign to promote digital payments among traders
Taking their two-year-old partnership to the next level, global technology company Mastercard and traders’ body CAIT have launched a new campaign to accelerate adoption of digital payments among traders and to help them grow their businesses.
- The campaign, titled Digital Apnao Vyapar Badhao (Adopt Digital and Build Business), will be rolled out across 30 cities over a period of 90 days.
- As part of the campaign, 500 camps will be organised to on-board five lakh merchants and traders by bringing together financial institutions and other payment facilitators under one roof.
India, Austria sign protocol to amend DTAC
India and Austria have signed a Protocol to amend the existing double taxation avoidance convention between the two countries.
Sarbananda Sonowal launches CMSGUY in Guwahati
In a move to bring about paradigm shift towards holistic development of villages, Assam Chief Minister Sarbananda Sonowal launched the Chief Minister Samagra Gramya Unnayan Yojana, CMSGUY in Guwahati.
R Infra arm’s venture with Dassault Aviation gets CCI nod
Reliance Infrastructure said that its defence unit Reliance Aerostructure Ltd’s proposed joint venture with Dassault Aviation has received clearance from the Competition Commission of India (CCI).
- The JV company is proposed to be named as ‘Dassault Reliance Aerospace Ltd’ (DRAL).
- Reliance Aerostructure Ltd (RAL) will have 51 per cent shareholding in the JV while Dassault Aviation (DA) will hold 49 per cent
India to host FIBA Women’s Asia Cup basketball tournament
India will host FIBA Women’s Asia Cup basketball tournament at Bengaluru in July.