CURRENT AFFAIRS WEEKLY ONE LINERS: AUGUST 15 – 21, 2018

BANKING AND ECONOMY

• PayU India has announced entering into a strategic partnership with Reliance Money, leading NBFC brands in India, to offer instant app based personal loans, via LazyPay.
• The value of transactions made through mobile wallets touched a record Rs.14,632 crore in June, Reserve Bank of India (RBI) data released showed, rising 4.2% from Rs.14,047 crore in May.
• The HSBC has launched a new digital platform to simplify capital raising process through capital markets by providing real-time access to information such as investors’ feedback, profiles, client orders and deal pricing.
• The RBI has decided to pay Rs 50,000 crore as dividend to government in line with the Union Budget provisions, helping the Centre stick to its fiscal roadmap.
• According to International Monetary Fund, India’s gross domestic product (GDP) is poised to grow by 7.3% in the2018-19 fiscal and 7.5% in 2019-2020 on strengthening of investment and robust private consumption.The IMF announced that, the near-term macroeconomic outlook for India is broadly favourable.
• The Global technology platform and digital payments leader, PayPal, and HDFC Bank, the largest credit card issuer in India, have entered into a partnershipIt aims for safer, faster and more convenient payment experience for HDFC Bank cardholders and help drive incremental digital spend
• The State Bank of India (SBI) has launched the Multi-Option Payment Acceptance Device or MOPAD, a unified payment option that accepts multiple payment methods.
• The Exim Bank of India has signed a multilateral cooperation agreement with member development banks of BRICSto undertake “collaborative research” in distributed ledger/blockchain technology.
• The Bajaj Allianz General Insurance has entered into a bancassurance deal with Vijaya Bank. This corporate agency agreement will enable distribution of Bajaj Allianz General Insurance products through the bank’s network of 2,129 branches across the country.
• The DHFL Pramerica Life Insurance (DPLI), a private life insurer, has entered into a Bancassurance partnership withSVC Co-operative Bank Ltd.
• It aims for the distribution of specialised products to the SVC Co-operative Bank Ltd customers.
• The United Arab Emirates (UAE) has emerged as the top source of inward remittances, while Kerala has received the maximum funds sent from abroad, according to the Reserve Bank of India’s survey of inward remittances for 2016-17.
• India’s largest lender State Bank of India (SBI) is considered to be the most patriotic brand, according to a survey.SBI is followed by Tata Motors, Patanjali, Reliance Jio and BSNL. The survey conducted by UK-based online market research and data analytics firm YouGov.