May 2022

Japan’s MUFG Bank gets approval set up branch at GIFT City

Leave a Comment / Current Affairs May 2022 / By Gkseries

MUFG Bank becomes the first Japanese bank to open a branch at Gujarat International Financial Tech City (GIFT City) in a bid to offer a wide range of banking services to both domestic and global clients. MUFG Bank has already taken all necessary approvals from the International Financial Services Centre Authority (India) and the Financial Services Agency (Japan) to set up a […]

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CCEA clears sale of govt’s 29.5% stake in Hindustan Zinc

Leave a Comment / Current Affairs May 2022 / By Gkseries

The Cabinet Committee on Economic Affairs (CCEA) has cleared the government’s 29.5% stake sale in Hindustan Zinc Ltd (HZL) to fetch around Rs 38,000 crore to the exchequer. This decision will strengthen the government’s disinvestment drive in the current fiscal year. The government has budgeted Rs. 65,000 crore from PSU disinvestment and strategic sale. In 2002, the government offloaded a 26% stake

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BOB Financial launched co-branded contactless RuPay Credit Card with HPCL

Leave a Comment / Current Affairs May 2022 / By Gkseries

Bank of Baroda Financial and Hindustan Petroleum (HPCL) in partnership with National Payments Corporation of India (NPCI), have launched HPCL BoB co-branded contactless RuPay Credit Card. The card includes various features such as rewards for spending on utilities, grocery and departmental stores. This card can be used across merchants and ATMs globally through the JCB network. BOB Financial is

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Indian officer Anwar Hussain Shaik is new chair of WTO’s committee

Leave a Comment / Current Affairs May 2022 / By Gkseries

Ten years later, an Indian government officer, Anwar Hussain Shaik has been made the chair of the WTO’s Committee on Technical Barriers on Trade(TBT). He replaced Elisa Maria Olmeda de Alejandro from Mexico. Aim: To ensure that standards and conformity assessment procedures, and technical regulations are non-discriminatory and do not create unnecessary obstacles to trade. WTO is a 164

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Sebi withdraws permanent recognition granted to ICEX

Leave a Comment / Current Affairs May 2022 / By Gkseries

SEBI has withdrawn the recognition granted to the Indian Commodity Exchange Limited (ICEX). The withdrawal of recognition follows an order passed by SEBI on May 10 after finding the bourse non-compliant on several grounds like net worth and infrastructural requirements. After this, the ICEX has been directed to transfer the money available in the Investor Protection Fund and Investor Services Fund of

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Moody’s cuts CY22 India GDP growth forecast to 8.8% amid rising inflation

Leave a Comment / Current Affairs May 2022 / By Gkseries

Moody’s Investors Service has cut its gross domestic product (GDP) growth forecast for India to 8.8% for calendar year 2022 (CY22) from its March estimate of 9.1%. Reason: Rising inflation and interest rates will temper the economic growth momentum. It projected inflation to be around 6.8% and 5.2% for 2022 and 2023, respectively. Earlier, the S&P Global Ratings had cut

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RBI issues norms for gold import by qualified jewellers through IIBX

Leave a Comment / Current Affairs May 2022 / By Gkseries

The Reserve Bank of India (RBI) has issued norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. As per the guidelines, banks may allow Qualified Jewellers to remit advance payments for 11 days for import of gold through IIBX in compliance to the extant Foreign Trade Policy and regulations

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Delhi Customs launches Project ‘NIGAH’ at ICD Garhi Harsaru, Gurugram

Leave a Comment / Current Affairs May 2022 / By Gkseries

Chief Commissioner, Delhi Customs Zone, Shri Surjit Bhujabal inaugurated project ‘NIGAH’ at ICD Garhi Harsaru, Gurugram. ICTM (ICD Container Tracking Module) has been developed in collaboration with the Custodian M/s. GRFL. A live demo of the project was given to all the participants. The function was attended by Commissioner of Customs, ICD Patparganj & Other

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Rajnath Singh approves new Defence Estates Circle for Uttarakhand

Leave a Comment / Current Affairs May 2022 / By Gkseries

Union Defence Minister Rajnath Singh on Thursday accepted the proposal for the creation of a brand new Defence Estates Circle completely for Uttarakhand on Might 26, 2022. In view of the difficulties confronted in managing massive tracts of defence land within the state and the demand of cantonment residents in Uttrakhand, the MoD will set

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HDFC Securities launched Robo-advisory platform ‘HDFC Money’

Leave a Comment / Current Affairs May 2022 / By Gkseries

Broking house HDFC Securities has launched HDFC Money, a robo-advisory investment platform that will offer mutual fund schemes and other financial products without the need of a demat account. Apart from mutual funds, one can also manage other aspects of finances such as accessing, managing, and tracking portfolios, starting goal planning, insurance planning, creating e-Wills

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