Banking Current Affairs

Paisabazaar Partners with RBL bank to Offer Credit Card

com, a digital platform for consumer credit, has partnered with RBL Bank Limited to offer ‘Paisa on Demand’ (PoD), a credit card that will be exclusively available on the Paisabazaar platform.

HDFC Ergo General Insurance (HDFC ERGO) entered into a first-of-its-kind partnership with Visa to offer curated insurance covers for Visa’s Platinum card holders for select public sector banks.
The policy will offer fraud insurance cover for an amount up to Rs 1 lakh to all Visa Platinum Credit & Debit Cards of participating issuers.

State Bank of India (SBI) partnered with NSE Academy to launch five online courses to promote financial literacy courses through NSE Knowledge Hub platform, an online Massive Open Online Courses (MOOCs) platform.

The Tata Group has chosen State Bank of India (SBI), Bank of Baroda (BoB) and HDFC Bankas preferred bankers for India’s largest international airline, ‘Air India’ which was recently taken over by Tata sons from the Government of India.
Tata Sons availed aRs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoBthat are unrated, unsecured, and pegged at 25% interest rate annually. (The loan acquired from HDFC is unknown yet).

DBS Bank India signed a partnership agreement with Stellapps Digital Network, a leading dairy-tech startup company, as its banking partner to promote digitisation of small dairy industries across India.

HDFC ERGO General Insurance Company (HDFC ERGO) launched ‘Cyber Sachet Insurance Policy’ to mitigate cyber-related digital risks for individual customers and keep them internet insured.

According to the Centre for Monitoring Indian Economy Pvt. Ltd (CMIE), the unemployment rate of India has declined to 57% in January 2022, the lowest since March 2021(6.50%).
In January 2022, the unemployment rate in urban India is at 16% and the unemployment rate in rural India is at 5.84%.
Telanganahas reported the lowest unemployment rate with 0.7% followed by Gujarat (1.2 per cent), Meghalaya (1.5 per cent) and Odisha (1.8 per cent).

Larsen & Toubro Limited (L&T) and Microsoft India signed a Memorandum of Understanding (MOU) to develop a regulated sector-focused cloud offering to empower customers with the best-of-breed cloud computing and infrastructure service.

The Reserve Bank of India (RBI) extended the restrictions on Millath Co-Operative Bank, Devangere (Karnataka) by another three months, from February 8 2022 to May 7, 2022.

According to a brand valuation report by London-based Brand Finance, LIC is India’s strongest and the largest brand in the country with a valuation of $8.656 billion (around Rs 64,722 crore).
With this, it also becomes the third-strongest insurance brand globally after Poste Italiane of Italy, and Mapfre of Spain at 1st and 2nd rank respectively.
It is also the world’s 10th most valuable insurance brand.