National & International Appointments
1. Nidhu Saxena appointed MD & CEO of Bank of Maharashtra
- The Ministry of Finance appointed Nidhu Saxena as Managing Director and Chief Executive Officer of Bank of Maharashtra.
- He replaced AS Rajeev upon his selection as Vigilance Commissioner in CVC.
- Saxena is currently Executive Director of Union Bank of India.
Obituaries
2. Jailed gangster Mukhtar Ansari passes away due to cardiac arrest
- Jailed mafia gangster Mukhtar Ansari, 63, died due to cardiac attack during treatment at Banda medical college on Thursday night.
- Ansari was a five-time former MLA from Mau Sadar seat and has been behind bars in UP and Punjab since 2005.
- He had 65 criminal cases pending against him.
- He has been sentenced in eight cases since September 2022 by different courts of UP and was lodged in the Banda jail.
International Affairs
3. Indian-British writer's book in inaugural Women's Prize for Non-fiction sho
- Indian-British journalist and commentator Madhumita Murgia's book which explores the impact of AI on human society has been shortlisted for the 2024 inaugural Women's Prize for Non-fiction.
- The six books cover a broad range of subjects - from life writing, religion, art and history, to AI, social media and online politics.
Banking & Finance
4. Kotak Bank acquires Sonata Finance for Rs 537 cr
- Kotak Mahindra Bank has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore.
- Sonata is operating in 10 states through 549 branches and has an Asset Under Management (AUM) of approximately Rs 2,620 crore as of December 31, 2023.
- The Bank has acquired 100 % of the issued and paid up capital of Sonata Finance Private Limited, a Non-Banking Finance Company (NBFC), a microfinance institution registered with the RBI for a total consideration of approximately Rs 537 crore.
Banking & Finance
5. Banks' GNPAs set to improve further to 2.1% by FY25: Care Rating
- Domestic rating agency Care Ratings said in the report,The gross non-performing assets (GNPA) of the Indian banking system are set to improve further to up to 2.1 per cent by the end of FY25.
- GNPAs are likely to come at 2.5-2.7 per cent in FY24 and will improve further to 2.1-2.4 per cent by the end of FY25.
- The rating agency also flagged a list of downside risks, which may result in its estimate not coming true.
Banking & Finance
6. IRDAI Has Approved the Establishment of Bima Sugam
- The Insurance Regulatory and Development Authority of India has approved the establishment of Bima Sugam, an online insurance marketplace.
- aimed at simplifying the process of buying, selling, and servicing insurance policies, as well as settling claims.
- Bima Sugam will serve as a single interface for customers, intermediaries, and agents, facilitating the buying and selling of insurance policies across insurers in various categories such as life, health, and non-life.
Comments
write a comment