Banking, Finance & Economy Current Affairs - 2022-23

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Recently , Paytm has entered into a partnership with Amazon Web Services (AWS). They have partnered to launch Paytm Startup Toolkit.

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Recently , India’s one of the major private banks, ICICI Bank partnered with Flipkart. They have partnered to offer an instant and completely digital overdraft (OD) facility to individual sellers and businesses who are associated with Flipkart .

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Paytm Payments Bank Ltd (PPBL) became the largest and fastest-growing UPI beneficiary bank in India. It becomes the first beneficiary bank in the country to achieve the landmark of over 926 million UPI transactions in a single month. Beneficiary banks are the banks of the account holder who is receiving money. Paytm Payments Bank has also gained rapid traction as a remitter bank for UPI payments.

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Professor Bimal Patel of India has been elected for a five-year term on the International Law Commission. His five-year term begins on January 1, 2023. Professor Patel is the Vice-Chancellor of Rashtriya Raksha University and a member of India’s National Security Advisory Board.

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Ministry of Electronics and Information Technology (MeitY) has released a 5-year roadmap and Vision Document 2.0 for the electronics sector. The Vision Document 2.0 titled “$300 bn Sustainable Electronics Manufacturing & Exports by 2026” has been prepared by MeitY in association with the India Cellular & Electronics Association (ICEA).

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The largest buyer, the Central Bank of Thailand, bought 90 metric tonnes of gold while RBI bought 77.5 metric tonnes taking its total gold reserve to 754.1 tonnes at the end of December 2021.

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Chief Minister of Gujarat, Bhupendra Patel has announced a new IT/ITeS policy for the next five years.

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The Edelweiss General Insurance (EGI) has partnered with Ashv Finance.

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The Government of India has signed the Host Country Agreement (HCA) with International Telecommunication Union (ITU) for the establishment of an Area Office & Innovation Centre of ITU in New Delhi. The Host Country Agreement provides the legal and financial framework for the establishment and operations of the Area Office. The Area Office and Innovation Centre of ITU at New Delhi will serve South Asian countries comprising of Afghanistan, Bangladesh, Bhutan, Iran, Maldives, Nepal, Sri Lanka and India.

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The government of Karnataka has launched ‘Women@Work’ program to provide five lakh jobs within 2026 to women with necessary employable skills. The program aims to focus on the efforts of corporate programs on attracting women workforce. It has been developed by Karnataka Digital Economy Mission (KDEM) in association with KTECH, Karnataka Skill Development Corporation. It will act as an enabler for women to actively participate and join the workforce through industry upskilling.