Banking, Finance & Economy Current Affairs - 2022-23

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British government launched ‘Aviation Passenger Charter’ to help passengers know their rights.

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Retail inflation, based on the consumer price index (CPI), eased to 7.01 per cent in June this year.

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Kotak Mahindra Bank has announced the completion of its technical integration with the new income tax e-filing system.

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Prime Minister Narendra Modi has launched the ‘India International Bullion Exchange (IIBX)’, at the Gujarat International Finance Tec-City (GIFT City) near Gandhinagar, Gujarat.

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Tamil Nadu has emerged as the only State which has achieved the target for 2022 Q1 and Q2 for Jal Jeevan Mission, with 69.57 lakh households provided with tap connections till date, according to official data.

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The Megha Engineering and Infrastructures Limited (MEIL) will build Mongolia’s first green-field oil refinery. MEIL received a Letter of Authorization (LoA) from the Mongol Refinery Project to build the refinery on the outskirts of the capital of Mongolia, Ulaanbaatar. The primary objective of this green-field project is to reduce Mongolia’s oil imports from Russia. The project will cost USD 790 million for which MEIL will build Engineering, Procurement, and Construction (EPC)-2 and EPC-3 models. The Project Management Consultant for this project is Engineers India Limited (EIL).

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The National Mineral Development Corporation (NMDC) won the Champion of Champions Award and fourteen Corporate Communication Excellence Awards at the 16th PRCI Global Communication Conclave 2022.

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Canara Bank launched the Electronic Bank Guarantee (e-BG) platform in collaboration with the National e-Governance Services Limited (NeSL).The Electronic Bank Guarantee (e-BG) was launched on the 117th Foundation Day of the Canara Bank. The e-BG platform will provide greater transparency, secure transactions, and better trigger monitoring, leading to higher compliance. In addition, the platform will also provide an API-based digital workflow for bank guarantees that will eliminate physical issuance, verification, stamping, and paper-based record maintenance.

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India will take over the chair of the Global Partnership on Artificial Intelligence (GPAI). The minister of state for Electronics and IT, Rajeev Chandrasekhar will represent India at the GPAI meeting. It will be held on 21 November in Tokyo for the symbolic takeover from France, which is the outgoing Council Chair.

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The founding chairman of the popular drink Rasna, Areez Pirojshaw Khambatta, has passed away. The 85-year-old industrialist, who was suffering from a prolonged illness, His father, Phiroja Khambatta, started a small business decades ago, which Areez grew into the world’s largest concentrate manufacturer, with a presence in over 60 countries. In the 1970s, he developed low-cost Rasna soft drink packs as an alternative to high-priced soft drink products. It is sold at 1.8 million retail outlets in the country.