Banking, Finance & Economy Current Affairs - 2022-23

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The Netherlands payment infrastructure company, TerraPay joined hands with India’s NPCI International Payments (NIPL) to facilitate cross-border transactions for Indian consumers and merchants. The making and acceptance of these cross-border payments will be facilitated by an active Unified Payments Interface (UPI) ID. The Indian Customers with an active UPI ID can transact at the Quick Response (QR) locations which will be enabled globally by TerraPay.

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The Chief Minister of Nagaland, Neiphiu Rio, starts the Universal Health Insurance Scheme (CMHIS). Under this plan, the first year’s premium will cost the state government about Rs. 69 crores. Oriental Insurance Company has agreed to be the insurance partner by signing a contract. The main goal of the plan is to help people pay for their health care costs. The guest of honour was Dr. R.S. Sharma, who is the CEO of the National Health Authority.

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Odisha Chief Minister, Naveen Patnaik has launched a common credit portal SAFAL’ (Simplified Application for Agricultural Loans) for the welfare of farmers.

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Forbes unveiled its 2022 Asia’s Power Businesswomen list, honoring 20 outstanding women in business across the Asia-Pacific region. Soma Mondal, the chairperson of Steel Authority of India Ltd, Namita Thapar, executive director at India business of Emcure Pharma, and Ghazal Alagh, co-founder and chief innovation officer of Honasa Consumer, are on the list.

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The ICICI Venture Funds Management Company Limited recently invested INR 360 crores in Cello World. The investment of INR 360 crores (USD 44.3 million) by the ICICI Venture is the first Private Equity raised by the Cello World. The investment also marks ICICI Venture’s fifth India mid-market-focused Private Equity (PE) fund. At the event, the CEO of the ICICI Venture, Punit Nanda, said that the company was targeting an investment of USD 350-400 million for its fifth PE fund.

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A leading global consulting, technology & managed services provider with a singular focus on the Connectedness industry, Prodapt has been named a recipient of the Salesforce Partner Innovation Award in the “Communications” category.

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The gross GST revenue collected in the month of November 2022 is Rs.1,45,867 crore of which CGST is Rs.25,681 crore, SGST is Rs.32,651 crore, IGST is Rs.77,103 crore (including Rs.38,635 crore collected on import of goods) and Cess is Rs.10,433 crore (including Rs.817 crore collected on import of goods).

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Rajeev Kumar Vishnoi was appointed as the Chairperson and Managing Director (CMD) of the National Hydroelectric Power Corporation (NHPC) Ltd.

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Use of rupee in foreign trade: In order to facilitate international trade, Sri Lanka has agreed to utilize the Indian Rupee (INR). It occurs shortly after the Indian government announced it was looking into ways to include nations who are particularly short on dollars in the Indian rupee trade settlement process.

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Nutrition company Herbalife Nutrition India Private Limited is partnering with international women’s cricketer, Smriti Mandhana as a ‘nutrition sponsor’.