National & International Appointments
1. Prashant Kumar appointed Yes Bank MD & CEO for 3 years
- The Reserve Bank of India has approved the reappointment of Prashant Kumar as the MD and CEO of YES Bank for another three years, with effect from 6th October 2022.
- The appointment will be subject to the approval of shareholders of the private sector lender.
- He was appointed as the CEO of the bank after YES Bank was bailed out by a consortium of lenders in March 2020.
- He has served as the Deputy MD and CFO of State Bank of India.
- Yes Bank Headquarters: Mumbai
Banking & Finance
2. RBI launched SupTech app, DAKSH to improve supervisory processes
- The Governor of RBI, Shaktikanta Das has launched a new 'SupTech' initiative called DAKSH.
- Aim: It will be the advanced supervisory monitoring system of bank.
- It will help to make the supervisory processes more robust.
- DAKSH:
- It is a web-based end-to-end workflow application.
- With the help of this, RBI shall monitor compliance requirements in a more focused manner.
- This also improves the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc.
Agreement
3. NTPC, GE Gas Power ink MoU for hydrogen co-firing in gas turbines
- NTPC Ltd has signed an MoU with GE Gas Power to explore the feasibility of hydrogen (H2) co-firing blended with natural gas.
- This process will be done in GE’s gas turbines installed at NTPC’s Kawas gas power plant in Gujarat.
- NTPC’s Kawas plant is powered by four GE gas turbines.
- It is operating in a combined-cycle mode and has an installed capacity of 645 MW.
- GE’s advance E-class gas turbine portfolio can burn upto 100% by volume of hydrogen when blended with natural gas.
Banking & Finance
4. HDFC Bank launches SmartHub Vyapar for merchants
- HDFC Bank has launched an one-stop merchant solution app named SmartHub Vyapar Merchant app.
- It is a comprehensive payments and banking solution.
- It is designed to fulfill the everyday business needs of merchants.
- This app would facilitate instant, digital and paperless merchant on-boarding for HDFC Bank customers.
- It also allow merchants to accept interoperable payments across multiple payment modes which include Cards – Tap & Pay, UPI and QR code.
Banking & Finance
5. World Bank cuts India's growth forecast to 6.5% for 2022-23
- The World Bank has reduced the GDP growth forecast of India for 2022-23 to 6.5% from 7.5%.
- Reason: The impact of the ongoing war in Ukraine, rising global interest rates and high inflation.
- The organization has also noted that slowing global demand will impact the country's exports.
- Recently, RBI has cut the economic growth projection for the current fiscal to 7%.
- UNCTAD has also declined the India's economic growth will decline to 5.7% for 2022-23.
Banking & Finance
6. RBI issues directions for appointment of Internal Ombudsman
- RBI has issued directions for appointment of Internal Ombudsman for all Credit Information Companies (CICs).
- Eligibility:
- Every CIC must appoint the Internal Ombudsman for a fixed term of 3 to 5 years
- Either a retired or a serving officer
- Not below the rank of Deputy GM or equivalent, should have at least seven years of experience in banking sector
- Not attain the age of 70 before completion of the proposed term
- No reappointment for extension of term in the same CIC
Summits & Conferences
7. Hardeep Puri co-chairs US-India strategic clean energy partnership dialogue
- The Ministerial dialogue of US-India Strategic Clean Energy Partnership (USISCEP) is being organised in the United States from October 7 to 11, 2022.
- The event will be co-chaired by Hardeep Singh Puri (Union petroleum minister) and Jennifer Granholm (US energy secretary).
- The revamped USISCEP was launched in 2021.
- It is based on the US-India climate and clean energy agenda 2030 partnership that was announced by PM Modi and President Joe Biden at a summit in April 2021.
National Affairs
8. Centre raises credit guarantee limit for airlines sector
- The Department of Financial Services (DFS) has modified the Emergency Credit Line Guarantee Scheme (ECLGS) for the aviation sector.
- The department has raised the scheme’s cheaper loan limit to ₹1,500 crore from ₹400 crore.
- Aim: To help the sector tide over cash-flow problems.
- As per the modified ECLGS, an airline would be eligible for 100% of its fund- based or non-fund-based loan outstanding or ₹1,500 crore, whichever is lower.
Honours & Awards
9. French writer, Annie Ernaux wins the 2022 Nobel Prize in literature
- The French writer, Annie Ernaux (82) has been awarded the 2022 Nobel Prize in literature.
- Reason: For the courage and clinical acuity with which she uncovers the roots, estrangements and collective restraints of personal memory.
- She is known for works that blur the line between memoir and fiction.
- She becomes the 17th female writer to have won the prize.
- Her notable books: Cleaned Out; The Years; and Simple Passion
Obituaries
10. Veteran actor, Arun Bali passed away
- Veteran actor, Arun Bali has been passed away at the age of 79 in Mumbai.
- He was best known for his work on TV show “Swabhimaan” and “3 Idiots”.
- He has started his acting debut with noted filmmaker Lekh Tandon's TV show “Doosra Keval” and his last film is “Goodbye”.
- He was suffering with Myasthenia gravis, an autoimmune disease.
- This happens when the communication between the muscles and nerve cells become impaired.
National & International Appointments
11. Indian origin, Dr Vivek Murthy is US representative on WHO Executive Board
- US President, Joe Biden has nominated Dr Vivek Murthy (45) to serve as America's representative on the executive board of the World Health Organisation.
- He will serve in the new position alongside his continued duties as the US Surgeon General.
- In March 2021, He was confirmed by the US Senate to serve as the 21st Surgeon General of the country.
- He also served as the 19th Surgeon General under President Barack Obama.
Science & Technology
12. NASA’s SpaceX Crew-5 launches to International Space Station
- SpaceX has launched group of four astronauts to the International Space Station (ISS) as part of the Crew-5 mission, from Launch Complex 39A, Kennedy Space Center, Florida.
- This is the first time that the SpaceX has launched a Russian cosmonaut on its vehicle, which comes as part of an exchange deal between Nasa and Roscosmos.
- The Crew-5 flight carried Nasa astronauts Nicole Mann and Josh Cassada, Koichi Wakata (JAXA), and Anna Kikina (Roscosmos cosmonaut).
National & International Appointments
13. Mohit Bhatia appointed as CEO of Bank of India Mutual Fund
- Bank of India Investment Managers Private Ltd has appointed Mohit Bhatia as its chief executive officer with effect from 4 October, 2022.
- He has over 26 years of professional experience in mutual funds and financial services industry.
- He served as head-sales and marketing in Canara Robeco Asset Management Company Ltd.
- Bank of India Investment Managers Private Limited is a wholly owned subsidiary of Bank of India.
- BOI MF Headquarters: Mumbai
Comments
write a comment