DAILY GK 1-2 AUG 2024
1.
RBI CANCELS LICENCE
OF MAHABHAIRAB COOPERATIVE URBAN BANK LTD., TEZPUR
·
The Reserve Bank of India (RBI) cancelled the licence of
the Mahabhairab Cooperative Urban Bank Limited,
Tezpur, Assam.
·
The main reasons for the license cancellation
are Inadequate capital and earning prospects,Non-compliance with various
sections of the Banking Regulation Act of 1949
·
The bank is now prohibited from conducting
any banking business, including accepting or repaying deposits.
·
Depositor Protection: Depositors
are entitled to receive deposit insurance claims up to Rs 5,00,000 from the
Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the
provisions of the DICGC Act of 1961.
2. RBI
SELECTED 5 FIRMS UNDER 5TH COHORT OF RS ON THE THEME ‘NEUTRAL’
·
The Reserve Bank of India (RBI) has
selected 5 entities out of 22 applications for the Test Phase
under the 5th cohort of Regulatory Sandbox (RS) on the
theme ‘ Neutral’.
·
The Selected Sandbox entitesare,ConnectingdotConsultancy,EpifiTechnologies,FinaggTechnologies,Indian
Banks’ Digital Infrastructure Company ,Signzy Technologies
3. BELGIAN
GRAND PRIX 2024
·
Mercedes‘ Lewis Hamilton, a
British racing driver, won the Formula 1 (F1) Belgian Grand Prix (GP)
2024 held at the Circuit de Spa-Francorchamps, Stavelot, Belgium.
·
McLaren’s Oscar Piastri,
(Australia) secured the 2nd place on the podium and Ferrari’s Charles
Leclerc (Monaco) moved up to the 3rd position.
·
Mercedes’ George Russell, a
British racing driver, who originally finished 1st was disqualified following
the race for an underweight car.
4.
SWISS OPEN GSTAAD MEN’S
DOUBLES
·
Indian tennis player Yuki
Bhambri and his French partner Albano
Olivetti won the Men’s
Doubles title at the 56th Swiss Open Gstaad, an
Association of Tennis Professionals (ATP)
250 tennis tournament held at the Roy Emerson Arena in Gstaad, Switzerland
·
The Indo-French pair, seeded 3rd, defeated the all-French duo UgoHumbert –
Fabrice Martin.
·
Matteo Berrettini, an
Italian tennis player won Men’s Singles title, by defeating
the Frenchman Quentin Halys
5. RBI
IMPOSES MONETARY PENALTIES ON 3 PAYMENT SYSTEM OPERATORS
·
The Reserve Bank of India (RBI) has
imposed a monetary penalty on three Payment
System Operators (PSOs) namely Manappuram Finance Limited (MAFIL),
Ola Financial Services Private
Limited (OFS) and Visa Worldwide
Private Limited (VWPL) for non-compliance with the regulatory norms.
·
MAFIL: The
RBI has fined Rs 41.5 lakh on MAFIL for non-compliance with certain provisions
of Know Your Customer (KYC) directions.
·
The RBI has fined Rs 87.55 lakh on
OFS for two separate violations.
·
The fine of Rs 33.40 lakh is for not
adhering to KYC directions.
·
The second
fine of Rs 54.15 lakh is for regulatory
compliance deficiencies specified under the Payment and Settlement Systems
Act, 2007.
·
Visa
Worldwide Private Limited(VWPL) has been fined Rs 2.4 crore for
non-compliance as it had implemented a payment
authentication solution without regulatory clearance from the RBI.
6.
CWC WON GEEF GLOBAL WATERTECH AWARD 2024
·
The Central Water Commission (CWC) has
been awarded the GEEF Global WaterTech Award under
the category ‘Water Department of the Year’ at
the Global Water Tech Summit 2024, organised by the
Global Energy and Environment Foundation (GEEF) at New Delhi
·
The award
is given in recognition of the CWC’s role in hydro-meteorological data
collection, flood forecasting, reservoir storage and water quality monitoring,
coastal area management, monitoring of water resources projects, and resolving
inter-state water issues.
·
CWC
(formerly Central Waterways, Irrigation and Navigation Commission, CWINC) is
an attached office of the Ministry of Jal Shakti (MoJS), under the Department
of Water Resources, River Development, and Ganga Rejuvenation (DoWR, RD &
GR).
·
Global
Energy and Environment Foundation (GEEF) is a not-for-profit
organisation which focuses on innovative, technology and networking
opportunities for the benefit of industries and individuals globally.
·
Headquarters – New Delhi, Delhi
7.
PARLE
TOPS KANTAR'S BRAND FOOTPRINT REPORT
·
Parle continues
to be the most chosen in-home brand according to Kantar's Brand
Footprint Report.
·
With a Consumer
Reach Points (CRP) score of 7980 million, Parle
holds the top spot for the 12th consecutive year.
·
Following Parle, the other
top brands include Britannia, Amul, Clinic Plus,Tata Consumer Products
8.
SEBI LAUNCHES
AI CHATBOT ‘SEVA’ FOR INVESTORS
·
The Securities
and Exchange Board of India (SEBI) has unveiled an Artificial
Intelligence (AI)-based chatbot named SEVA (Sebi’s Virtual
Assistant) to assist
investors in accessing information and responses on various processes.
·
The SEVA
chatbots will enable users to ask questions about the securities market and
SEBI’s complaint redressal platform (SCORES).
·
SEBI Chairperson– Madhabi Puri Buch
·
Headquarters– Mumbai, Maharashtra
·
Establishment–1992
9.
G20 AGREES ON BRAZIL’S
BILLIONAIRE TAX PROPOSAL
·
The Group of Twenty (G20)
finance ministers and central bankers issued the first-ever joint ministerial
declaration on taxation, The Rio de Janeiro G20 Ministerial
Declaration on International Tax Cooperation, committing to effective
taxation of “ultra-high-net-worth
individuals.”
·
It was
adopted during the Communiqué of the 3rd G20 Finance Ministers and
Central Bank Governors Meeting held in Rio de Janeiro, Brazil.
·
Brazil, holding the G20 Presidency proposed
a 2% minimum
tax on the world richest billionaires, making it a top priority for the
upcoming G20 summit from November in Rio
de Janeiro, Brazil.
10.
RBI’S REPORT ON CURRENCY AND
FINANCE 2023-24
·
The Reserve Bank of India (RBI) has released
its ‘Report on Currency and
Finance (RCF) for 2023-24’ in July 2024.
·
The report highlights the challenges that an economy faces by the rapid adoption
of digital technologies in the financial sector.
·
The theme for the RCF 2023-24 report is “India’s Digital
Revolution”.
·
According to the RCF 2023-24, India’s digital
economy currently at 10% of the Gross
domestic product (GDP) and is expected to double to 20% by 2026.
·
Digital payments have seen a CompoundAnnual Growth Rate (CAGR) of 50% in
volume and 10% in value terms in the last seven
years (between 2017-18 and 2023-24).
·
India is expected to be the world’s leading supplier of labour,
which will increase the remittances to around USD 160 billion in 2029 from
USD 115 billion in 2023.
