Banking, Finance & Economy Current Affairs - 2022-23

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Digit Insurance has appointed Jasleen Kohli as the company’s new managing director (MD) and chief executive officer (CEO) with effect from April 20, 2022. She succeeds Vijay Kumar who retired from the company on April 19, 2022. She served as chief distribution officer (CDO) at Digit, where she was responsible for all of the company’s sales and distribution channels.

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As per the report released by BCG-RAI, the Retail Industry will touch the 2 Trillion USD mark by the year 2032.As per the BCG-RAI Report titled “Racing towards the next wave of retail in India”, the retail industry would see a 10 % plus growth year on year to reach the 2 Trillion USD mark by 2032.The report also highlights that the E-Commerce would rise to 130 bn USD by 2026 as against 45 Bn today. E-commerce has gained greater pace during the pandemic as home delivery of products became the first preference.

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Actress Deepika Padukone has become the first-ever Indian brand ambassador of luxury brand Louis Vuitton. The news was announced by the French brand. The brand unveiled the role of a 36-year-old Bollywood actress during their new handbag campaign.

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Director of the ICAR-Central Marine Fisheries Research Institute (CMFRI) A Gopalakrishnan has received the VASVIK (Vividhlaxi Audyogik Samshodhan Vikas Kendra) Industrial Research Award in the category of Agricultural Sciences and Technology for the year 2020.

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Rural NEO Bank Mahagram has tied up with the IndusInd Bank to digitize the nation’s payment ecosystem and provide a wider scope to transact for its customers in rural India. Mahagram was launched with a vision to transform India into a digitally empowered society and knowledge economy. The partnership between the two aims to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy, and accelerate the growth of a cashless society.

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A survey by the Geological Survey of India has stated that a gold reserve of around 222.88 million tonnes including 27.6 tonnes of mineral-rich ore are present in the Jamui district of Bihar. The Nitish Kumar government in Bihar has now decided to give permission for the exploration of what is being called as India’s largest gold reserve.

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Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app. There will be no-processing charge on the loan. Muthoot Finance will provide up to 75 per cent of the pledged gold value as a loan. The loan facility will also be available at the 5 lakh banking points for Airtel Payments Bank.

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Recently, Forbes Real Time Billionaires List was declared. It featured the list of the richest person around the world. The chairman and managing director of Reliance Industries Ltd, Mukesh Ambani and the chairperson of Adani Group, Gautam Adani are also in the list of top 10 richest persons in the world. In the “Bloomberg Billionaires Index”, Mukesh Ambani is in eighth spot, and Gautam Adani is in ninth position. Elon Musk topped both the lists.

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ICICI Bank has announced that it has partnered with digital EMI/pay-later platform ZestMoney, to expand its ‘Cardless EMI’ facility for purchases on retail and e-commerce platforms. The partnership enhances affordability of customers of the Bank who can use pre-approved cardless credit to instantly buy products/ services using ZestMoney and take care of the cost into Equated Monthly Installments (EMIs).

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Fino Payments Bank Limited has partnered with Go Digit General Insurance Limited, one of India’s fastest-growing general insurers, to provide small and medium business owners with shop insurance coverage.