August 2022

Axis Bank launches Axis Receivables Suite

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

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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Cabinet approves India-Australia pact to promote co-production of films

Cabinet approves India-Australia pact to promote co-production of films

The Union Cabinet has approved the signing of an audio-visual (AV) co-production treaty between India and Australia to promote co-production of films. Under this umbrella agreements, private, quasi-government or governmental agencies enter contracts to produce films together. So far, India has has signed 15 audio visual co-production treaties with foreign countries. Australia has emerged as a preferred destination for shooting

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Telangana launches ‘Nethanna Ku Bima’ Scheme for weavers

Telangana launches ‘Nethanna Ku Bima’ Scheme for weavers

Telangana Government has launched ‘Nethanna Ku Bima’ Scheme, an insurance scheme, which covers handloom and powerloom weavers in the State. This scheme was launched by Telangana Handlooms Minister, KT Rama Rao virtually on the occasion of National Handloom Day. The insurance coverage scheme will be implemented in association with LIC. In case of natural or accidental death of a weaver, Rs.

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Pramod Kumar appointed as CFO of Power Grid Corporation

Pramod Kumar appointed as CFO of Power Grid Corporation

Board of Directors of the Powergrid Corporation of India Limited has approved the appointment of Pramod Kumar as the Chief Financial Officer (CFO). Prior to this, he served as the Executive Director (Finance) of the company. He has an experience of 35 years in the Power Sector including Finance and Accounting functions i.e. finalisation of Corporate Accounts, formulation

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UPSC

International Financial Services Centres Authority? UPSC Daily Important Topic | 11 August 2022

International Financial Services Centres Authority? ✓Establishment: It was established in April 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat. ✓Functions: The Authority shall regulate all such financial services, financial products and Financial Institutions in an IFSC. It may also recommend to the Central Government

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