August 2022 | Page 27 of 41

International Youth Day: 12th August

International Youth Day observed annually on 12th August annually to create awareness about the issues faced by youth. Theme 2022: Intergenerational solidarity: creating a world for all ages In 1999, the General Assembly has passed a resolution 54/120, and declared 12 August as International Youth Day. This decision was made after the recommendation made by the World Conference of Ministers Responsible for Youth (Lisbon, […]

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7.3% of Indians owned digital currency in 2021: UN

According to the UN, India’s population has owned 7.3% digital currency and ranked seventh in the list of top 20 global economies for digital currency ownership as share of population. Ukraine topped the list with 12.7%, followed by Russia (11.9%), Venezuela (10.3%), Singapore (9.4%), Kenya (8.5%) and the US (8.3%). It also been observed that the global use of cryptocurrencies has increased exponentially during the

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LG Manoj Sinha inaugurates “UMEED Market Place” under AVSAR Scheme of AAI

Lieutenant Governor of Jammu and Kashmir, Manoj Sinha has inaugurated “UMEED Market Place” under AVSAR Scheme of Airport Authority of India at Srinagar International airport. A similar Marketplace was also opened at Jammu Airport and both the outlets will exhibit products of all 20 districts. Aim: To support local art and artisans of Self Help Groups of J&K Rural

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New Changes In The Atal Pension Yojana(APY)

The government has introduced a major change in the Atal Pension Yojana (APY). which was started with the aim of providing pension facilities to those working in the unorganised sector in 2015. And as a result, the Ministry of Finance has now decided not to allow income taxpayers to apply for the APY scheme. According

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RBI issues Digital lending norms to curb malpractices

RBI has issued the regulatory framework to make digital lending safe for customers. The RBI has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party. Any fees, charges, payable to Lending Service Providers in the credit intermediation process shall be paid directly by Regulated Entities and not by the borrower. Automatic increase in credit limit

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Justice Uday Umesh Lalit appointed as 49th Chief Justice of India

President, Droupadi Murmu has approved the appointment of Justice Uday Umesh Lalit as the 49th Chief Justice of India for three months. He will replace CJI Justice N V Ramana, who will retire on 26th August 2022. He was appointed as Judge of the Supreme Court (SC) in August 2014. He will be the second CJI to be directly

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PNB HFC increases its Unnati portfolio to offer affordable loans

PNB Housing Finance has revamped its ‘Unnati’ loan portfolio to offer affordable housing loans of ₹9-12 lakh to target customers. PNB Housing has created a small vertical under Unnati which will be different from existing ₹18-19 lakh as affordable housing loans. In the June quarter, PNB HFC has already opened 10 more branches. PNB HFC: HQ: New Delhi MD &

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SPARK: New Virtual Space Museum Launched By ISRO

The Indian Space Research Organisation (ISRO) has launched a 3D virtual space tech park called SPARK. Celebrating ‘Azadi Ka Amrit Mahotsav’ marking the 75th year of Independence, ISRO inaugurated the virtual park containing information regarding its various missions. The digital platform known as the ‘SPARK’ space museum was launched by the Chairman of ISRO, S Somnath. Key points

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Axis Bank launches Axis Receivables Suite

Axis Bank becomes the first Indian bank to launch Axis Receivables Suite (ARS), an innovative Cash Management proposition. Aim: Simplifies Receivables reconciliation, accelerates cash flow, enhances the client experience and reduces the cost of doing business. ARS is an end-to-end proposition to automate the reconciliation of receivables against sales invoices raised by clients. Benefit for Clients: Know about payments, real-time control over

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India’s home loan market expected to double in 5 years: SBI report

According to State Bank of India’s economic research report “Ecowrap”, India’s home loan market is currently valued at about ₹24 lakh crore and it is expected to double (₹48 lakh crore) in the next 5 years. The share of ‘Housing Loans’ in ‘Bank Credit’ has increased to 14.4% in June 2022 from 13.1% in March 2020. The total home loan portfolio

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