Daily Current Affairs: January 03, 2017

RBI appoints Surekha Marandi as ED

The Reserve Bank of India has appointed Surekha Marandi as Executive Director (ED) consequent to the superannuation of US Paliwal, who retired on December 31, 2016. She took charge on January 2.

RBI fines Mumbai Bank Rs 1 lakh for money laundering

The Reserve Bank announced Rs 1 lakh penalty on the Mumbai District Co-operative Bank (Mumbai Bank) for violating know-your-customer and anti-money laundering norms.

SBI launches app for probationary officers powered by EduNxt Platform

Arundhati Bhattacharya has launched a Digital Platform, Mobile App powered by Manipal Global Education Services’ (MaGE) EduNxt Platform.

  • The State Bank of India’s analytics dashboard app acts as a digital mentor to Probationary Officers and Trainee Officers right through their training life-cycle.

Coca-Cola India partners the State Bank of India

Coca-Cola India and its largest bottling partner Hindustan Coca-Cola beverages have partnered the State Bank of India (SBI) to enable over 2.6 million retailers and 5000 distributors in conducting business transactions digitally.

Yes Bank ties-up with Bajaj Electricals for vendor financing using blockchain

Yes Bank has entered into a tie-up with Bajaj Electricals for vendor financing using blockchain solution, and announced to use the technology more aggressively as it saves over 70 per cent in cost.

  • As part of the tie-up, the bank has completely digitalised its processes when it comes to transactions with Bajaj Electricals and its vendors in such a way that blockchain solutions can be implemented.

HDFC Bank, Niki.ai tie up for chatbot banking

HDFC Bank has tied up with Niki.ai, the artificial intelligence firm funded by Ratan Tata & Ronnie Screwvala, to bring in ‘conversational banking’ — chatbots that facilitate commerce and banking transactions without getting out of the chat window.

Paytm gets RBI approval for payments bank

Paytm has received final approval of the Reserve Bank to formally launch its payments bank and it expects to start operations in February 2017.

Freecharge ties up with Grofers

Digital payments platform FreeCharge, announced its alliance with Grofers, on demand grocery delivery service provider to help consumers go cashless for their purchases across categories like groceries, food and vegetables, beauty and wellness, baby care, electronics and appliances, home and office needs among many others.

Munich Re to open reinsurance branch office in Mumbai

Munich Re is opening a composite branch office in Mumbai to service the property-casualty, life, health reinsurance markets across the country.

  • Munich Re is one of the first foreign reinsurers to receive approval for a dedicated branch in India following the 2015 amendment of the Insurance Bill.

Google pays tribute to India’s first feminist Savitribai Jyotirao Phule

Google dedicated a Doodle on January 03, 2017 to mark the 186th birth anniversary of India’s 19th century social reformer Savitribai Jyotirao Phule, considered the first feminist of the country.

Prime Minister inaugurated Indian Science Congress in Tirupati

Prime Minister Narendra Modi inaugurated the 104th Indian Science Congress at Tarakarama Stadium of Sri Venkateswara University in Tirupati in Andhra Pradesh.

Rs 5 discount on online payment of LPG cylinder

After petrol and diesel, buying and paying for cooking gas (LPG) online will get consumers a discount of Rs 5 per cylinder.

  • To provide cash-less transactions, the government had asked oil companies to pay consumers 0.75 per cent discount on cashless fuelling of petrol and diesel at petrol pumps. This has now been extended to cooking gas (LPG).

India 3rd among nations offering highest salaries to expats

India has ranked third among the countries offering the highest average annual salary to expatriates, according to HSBC Holdings data. Notably, Switzerland offers an average salary of $188,275 a year to expats, the highest in the world and almost twice the global average.

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