Banking, Finance & Economy Current Affairs - 2022-23

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India and ASEAN nations have approved a work plan titled India-ASEAN Digital Work Plan 2022, during the second ASEAN Digital Ministers’ (ADGMIN) Meeting held virtually.

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The Government of India will be setting up National Land Monetization Corporation (NLMC).The NLMC performs the monetization of the land and other non-core assets.

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State-owned Bank of Baroda has signed cricketer Shafali Verma as its brand endorser.

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Paisabazaar.com have launched ‘Paisa on Demand’ (PoD), which is a credit card. The credit card will be available on the Paisabazaar platform.

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A new book titled ‘’The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley ’’, authored by Jimmy Soni and published by Simon & Schuster released soon. It highlights the story of multinational digital-payments company PayPal and how it covered the journey of a start-up that turned into one of the most successful companies of all time, worth over USD 70 billion today. It also offers colourful anecdotes about famous people like Elon Musk, Peter Thiel, and Reid Hoffman

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Reserve Bank of India has launched a booklet named “BE(A)WARE” which features common modus operandi used by fraudsters and precautions to be taken while carrying out various financial transactions. The booklet aims to enhance public awareness about various types of financial frauds perpetrated on gullible customers while carrying out digital payments and other financial transactions.

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Tripura Government has announced a special scheme ‘Mukhyamantri Chaa Srami Kalyan Prakalpa’ for tea workers. A special scheme, allotting Rs. 85 crores for its implementation, as a step towards bringing the 7000 tea garden workers of Tripura under the social security net. This special scheme would ensure housing, rations, and financial support to the tea garden workers by integrating the facilities that are entitled to them, by the state government and the central government.

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Retired Jharkhand High Court Judge Harish Chandra Mishra has been appointed as the Lokayukta of Delhi. The post of Lokayukta of Delhi was vacant since December 2020, after the retirement of Rewa Khetrapal. Mishra is appointed in the post for a tenure of 5 years. He will also join as the Acting Chief Justice of Jharkhand High court.

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The HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund (HGSF), an open-ended Target Maturity Index Fund that tracks the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028, has been introduced by HSBC Mutual Fund. According to the fund house, the programme has a high interest rate risk and a low credit risk.

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The Insolvency and Bankruptcy Board of India (IBBI) has amended the voluntary liquidation regulations. The following amendments have been made –
The period of distribution of proceeds of liquidation has been reduced from 6 months to 30 days.
As per regulation earlier, the liquidator was bound to complete the liquidation process in 12 months. In the amended guidelines the same has been reduced to 270 days where creditors have approved the resolution and 90 days in all other cases.
In cases where no claims have been received from the creditors, the period for preparation of a list of stakeholders has been reduced to 15 days from 45 days.