Union Bank launches ‘Union MSMERuPay Credit Card’
The Union Bank of India has launched the ‘Union MSME RuPay Credit Card’ in association with the National Payments Corporation of India (NPCI). It is a first of its kind initiative in the industry, to provide simplified and digital delivery of Finance to Micro, Small & Medium Enterprises (MSMEs), to meet their business-related operational expenses.
The dedicated card for MSMEs will be available to eligible borrowers of the Union Bank of India. The Union MSME RuPay Credit Card was launched by Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane on February 25, 2022, at the two days MSME Conclave being held in Sindhudurg district of Maharashtra.
Important takeaways for all competitive exams:
- Union Bank of India Headquarters: Mumbai;
- Union Bank of India CEO: Rajkiran Rai G.;
- Union Bank of India Founded: 11 November 1919, Mumbai.
Third India-Japan joint exercise ‘EX DHARMA GUARDIAN-2022’
The third edition of the joint military exercise “EX DHARMA GUARDIAN-2022” between India and Japan will be conducted from 27 February to 10 March 2022, at Belagavi (Belgaum), Karnataka. The 15th Battalion the Maratha Light Infantry Regiment of the Indian Army and 30th Infantry Regiment of Japanese Ground Self Defence Forces (JGSDF) are participating in this 12 days long joint exercise.
About the exercise:
- The military exercise will focus on operations in Jungle & Semi-Urban/Urban terrains.
- The exercise aims at enhancing the inter-operability and foster mutual understanding between the two Armies.
- Exercise DHARMA GUARDIAN is an annual military training event, being conducted in India since 2018.
Digital India CEO Abhishek Singh appoints National e-Governance Division chief
1995-batch IAS officers and Digital India Corporation CEO, Abhishek Singh as new National e-Governance Division chief. The 1995-batch IAS officer from Nagaland cadre will hold the position in the rank and pay of Additional Secretary. The officer will proceed to carry the extra cost of the put up of Managing Director & Chief Government Officer, Digital India Company. The 1995-batch IAS officer from Nagaland cadre will maintain the place within the rank and pay of Extra Secretary.
Mirabai Chanu wins gold at Singapore Weightlifting International
Indian weightlifter and 2020 Tokyo Olympics silver-medallist, Mirabai Chanu has won the gold medal in the 55kg weight category at the Singapore Weightlifting International 2022 on February 25, 2022. Chanu lifted 191kg (86kg+105kg) to stand on top of the podium.
With this win, the 27-year-old Chanu has qualified for the 2022 Commonwealth Games (CWG) in Birmingham in the 55kg weight category. She has also qualified for the CWG in the 49kg weight category on the basis of her Commonwealth rankings.
Brickworks Ratings lowers India’s GDP to 8.3% in FY22
Brickworks Ratings has revised downwards India’s GDP growth forecast to 8.3 per cent in the current fiscal 2021-22 (FY22). Earlier in January 2022, the rating agency had estimated this between 8.5-9 per cent. Brickwork Ratings is one of the seven Sebi-registered credit rating agencies (CRA).
The latest growth indicators suggest a loss of economic momentum in recent months. The rapid spread of Covid in January 2022 led to renewed restrictions on economic activities, dampening the revival process, particularly in contact-intensive sectors.
Odisha’s first tribal CM Hemananda Biswal passes away
Odisha’s first tribal chief minister as well as last Congress chief minister of the state, Hemananda Biswal passed away. He was 82. Biswal, a Bhuyan tribal from Jharsuguda district, served as the chief minister twice from 1989 to 1990 and 1999 to 2000. In December 1999, he was again made chief minister after erstwhile chief minister Giridhari Gamang was replaced over his failure in relief and rehabilitation measures in the aftermath of the 1999 super cyclone that ripped through the Odisha coast.
Biswal began his political journey as a chairman of Kirimira panchayat Samiti in the Jharsuguda district. He was elected to the Odisha assembly for the first time in 1974 from Laikera constituency. He was elected to the assembly as MLA six times from the same seat. In 2009 he was elected as an MP from Sundargarh.
Standard Chartered tie up with IATA for payment platform for airline industry
Global banking group Standard Chartered has partnered with the International Air Transport Association (IATA) to launch a payment platform for the airline industry in India. IATA Pay will be a new payment option that enables participating airlines to offer instant payment options such as UPI Scan and Pay and UPI Collect (Request to Pay). Standard Chartered will be supporting the rollout of IATA Pay in other markets as well.
IATA Pay in India is powered by Standard Chartered’s Straight2Bank Pay, a payment platform that helps online merchants digitalise collections via multiple payment options through single global connectivity.
Important takeaways for all competitive exams:
- Standard Chartered CEO: Bill Winters (10 Jun 2015–);
- Standard Chartered Founded: 1969, London, United Kingdom.
- International Air Transport Association Headquarters: Montreal, Canada;
- International Air Transport Association DG: Willie Walsh;
- International Air Transport Association Founded: 19 April 1945, Havana, Cuba.
Bharti Airtel to acquire 4.7% stake of Vodafone in Indus Towers
Bharti Airtel has decided to acquire an additional 4.7 per cent stake in Indus Towers from Vodafone Group, the company announced. The two companies signed an agreement on the condition that Vodafone will use the proceeds to invest in Vodafone Idea (Vi) and the latter will clear its pending dues with Indus Towers.
In addition, Airtel is also protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone on February 24. This shall be value accretive to Airtel and protect its existing significant shareholding in Indus Towers. With the acquisition, Airtel’s shareholding in Indus Towers will increase to 46.4 per cent. Vodafone holds a 28.1 per cent stake in the company at present and its shareholding will reduce to 21 per cent.
Important takeaways for all competitive exams:
- Bharti Airtel CEO: Gopal Vittal;
- Bharti Airtel Founder: Sunil Bharti Mittal;
- Bharti Airtel Founded: 7 July 1995, India.
MSME Technology Centre to be set up in Sindhudurg
Union Minister for Micro, Small & Medium Enterprises (MSME), Narayan Rane has announced the establishment of MSME-Technology Centre with an outlay of Rs. 200 Crore, in Sindhudurg, Maharashtra. The MSME-Technology Centre will provide the best of technology, incubation as well as advisory support to the industry, especially MSMEs, to enhance their competitiveness and provide skilling services for the employed and unemployed youth of the area to enhance their employability.
The Ministry is presently focussing to create a benchmark for MSMEs across the country by scaling them to new heights in terms of exports, quality of products, contribution to GDP and providing World-class infrastructure to all MSMEs in India.
