Current Affairs May 2022

RBI decides to give ₹30,307 cr FY22 dividend to Centre

RBI decides to give ₹30,307 cr FY22 dividend to Centre

The RBI has approved a dividend payment of Rs. 30,307 crore to the Centre for the fiscal year 2021-22. The bank’s central board of directors also decided to maintain the contingency risk buffer (CRB) at 5.50%. In the 2022 budget, the government had estimated that it would receive Rs. 73,948 crore as dividend from the RBI and state-owned banks for FY22. The budgeted dividend is 27% lower […]

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Paytm sets up general insurance JV, plans to invest ₹950 cr in 10 years

Paytm sets up general insurance JV, plans to invest ₹950 cr in 10 years

Paytm has announced a Joint Venture general insurance company named as Paytm General Insurance Ltd (PGIL). Paytm parent One97 Communications said it has formed a joint venture general insurance company in which it plans to invest ₹950 crore in 10 years and to hold upfront equity stake of 74 per cent. PGIL will become a subsidiary of the Paytm. PGIL will seek

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RBL Bank ties up with Amazon Pay to offer UPI payment services

RBL Bank ties up with Amazon Pay to offer UPI payment services

RBL Bank has tied up with Amazon Web Services to offer UPI payments. The bank has partnered with Amazon Pay to offer peer-to-peer and peer-to-merchant transactions. With this integration, Amazon Pay will issue NPCI’s allocated UPI ID with the handle @rapl to RBL Bank. The partnership will allow the bank to tap Amazon Pay’s growing customer base and transaction volumes.

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International Day for Biological Diversity 2022: 22 May

International Day for Biological Diversity 2022: 22 May

International Day for Biological Diversity or World Biodiversity Day is observed on 22nd May every year to increase awareness and understanding of the issues of biodiversity. Biodiversity is essential for sustaining the balance of the planet. It is the cornerstone of ecosystem services, which are completely tied to human well-being. Biodiversity is essential for sustaining the balance of

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Skyroot Aerospace successfully test fires its rocket engine

Skyroot Aerospace successfully test fires its rocket engine

Hyderabad-based space tech startup Skyroot Aerospace on May 19 announced the successful completion of a full duration test-firing of its Vikram-1 rocket engine, the country’s first privately designed and developed rocket. The company announced the completion of the milestone of full duration test-firing of its Vikram-1 rocket stage. The third stage, named Kalam-100 after former President

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SC orders constitution of 25 special courts for cheque bounce cases

SC orders constitution of 25 special courts for cheque bounce cases

The Supreme Court has ordered to constitute 25 special courts with a retired judge in five states for expeditious disposal of cheque bounce cases. The special courts under the Negotiable Instruments Act will be set up in Maharashtra, Delhi, Gujarat, Uttar Pradesh and Rajasthan in view of a large number of pending cases. The special courts shall follow the same procedure with respect to trial as

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NEFT, RTGS facility available for post office savings account holder

NEFT, RTGS facility available for post office savings account holder

According to a Department of Post circular, the NEFT facility has been made available for Post Office Savings Accounts holders from May 18, 2022, and RTGS facility will be available from May 31, 2022. This facility enables POSB customers to transfer funds to and from other bank accounts to POSB Accounts in DoP-CBS (DoP-CBS stands for Department of Posts – Core Banking Solutions).

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