1. Futures & Options (F&O) trading launched by Paytm Money on its mobile application and website.
- Futures & Options (F&O) trading has been launched by Paytm Money on its mobile application and website.
- Paytm Money earlier offered F&O trading to some users in the early access phase. Now, it is providing F&O trading for everyone.
- Paytm Money has kept brokerage at ₹10 for all F&O trades.
- Paytm Money is a wholly owned subsidiary of Paytm. It is a SEBI registered Investment Adviser (IA).
2. Flipkart and ICICI Lombard General Insurance collaborate to provide Hospicash insurance.
- Flipkart and ICICI Lombard General Insurance have collaborated to provide Hospicash insurance.
- In Hospicash insurance, consumers get cash benefit for each day of hospitalization.
- Hospicash insurance covers both accidental hospitalizations or planned surgeries or treatment.
- ICICI Lombard has won DigiMarcom Leadership Award, 2020 for ‘Best Digital Customer Engagement Campaigns’.
- PayU has won DigiMarcom Leadership Award, 2020 for ‘Best Use of Mobile in a Digital Campaign’ in 2020.
- Flipkart is an e-commerce company. It is headquartered in Bangalore. Walmart owns it. Myntra and PhonePe are its subsidiaries.
3. Amazon India to start manufacturing of electronic products in India.
- Amazon India will begin manufacturing of electronic products in India by the end of 2021.
- In the starting, the company will produce Amazon Fire TV sticks in India. Amazon will set up a manufacturing line in Chennai.
- The company will begin its manufacturing efforts with contract manufacturer Cloud Network Technology. The production will start by end of this year.
- Cloud Network Technology is a subsidiary of Foxconn. Foxconn is Taiwanese multinational electronics contract manufacturer.
- Jeff Bezos founded Amazon in 1994. It is an American multinational technology company.
4. Toshihiro Mibe to be appointed as new CEO of Honda as per the reports.
- As per the reports, Toshihiro Mibe will be appointed as the new Chief Executive Officer (CEO) of Honda.
- Takahiro Hachigo is the current CEO of Honda. He became CEO in 2015. Toshihiro Mibe is currently serving as a director at Honda.
- Honda is Japan’s second-biggest manufacturer of automobiles by sales.
5. Uluka, a fintech solution platform launched by Machint Solutions.
- Uluka, a fintech solution platform, has been launched by Machint Solutions.
- Uluka helps financial institutions improve customer engagement process and build stronger customer relationships.
- Machint Solutions has recently introduced ‘vGro’, a sales management solution powered by artificial intelligence and machine learning.
- Machint Solutions is a fintech start-up. It is based in Hyderabad.
Topic: Banking System
6. Two legislations are likely to be amended by government to facilitate privatization of PSU banks.
- In Union Budget 2021-2022, Finance Minister had proposed privatization of two PSBs and two legislations are likely to be amended by government to facilitate it.
- Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 will need to be amended for privatization of banks. Both of these laws are related to the nationalization of banks.
- National Bank for Financing Infrastructure and Development Bill, 2021 is scheduled to be taken up during ongoing Budget session.
- Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 will also be taken up during ongoing Budget session.
- Last year, ten public sector banks were consolidated into four and number of PSBs was reduced from 27 to 12.
Topic: Committee/ Commissions/Taskforces
7. RBI will set up a committee for strengthening and consolidation of Urban Cooperative Banks.
- The Reserve Bank of India has announced to set up a committee for strengthening and consolidation of Urban Cooperative Banks. Former RBI Deputy Governor N.S. Vishwanathan will be the head of this committee.
- The committee will suggest measures for faster rehabilitation resolution of Urban Cooperative Banks. It will create a road map for a vibrant and resilient urban co-operative banking sector by considering the recent amendments to the Banking Regulation Act, 1949.
- It will also review steps taken by the Reserve Bank and other authorities for UCBs in the last five years. It will also identify key constraints in the implementation of the steps taken.
- For enhancing the resilience of UCBs, the committee will examine the need for differential regulations and possibilities of more permissible activities for UCBs.
- Urban Co-operative Banks:
- These are the primary banks that are located in urban and semi-urban areas. They primarily lend to small borrowers and businesses.
- These are classified as scheduled and non-scheduled urban co-operative banks. These are partly regulated by RBI.
Topic: Reports and Indices
8. Corporate India Risk Index launched by ICICI Lombard.
- Corporate India Risk Index launched by ICICI Lombard and it has been developed with US based management consulting firm Frost & Sullivan.
- It is a tool to measure the standard or quality of risk exposure and preparedness of a company.
- It includes 32 risk elements across six broad dimensions. 150 firms across 15 sectors are covered in Corporate India Risk Index.
- As per the Corporate India Risk Index, Banking, Financial Services and Insurance (BFSI) sector has the best risk management practices.
- Risk management is also best in Healthcare, Media – Telecom and IT-ITES sectors. Risk exposure is low in companies in the healthcare, IT/ITeS, and metals/mining sectors.
- Risk exposure is high in the case of companies in FMCG, automotive and transportation and logistics sectors.
- Risk handling in metals, automotive, manufacturing and infra/ realty sectors is optimal. Risk handling is sub-optimal in new-age hospitality and logistics sectors.
- A score of up to 30 means effective risk handling despite inefficient management practices and a score of up to 80 means high investment in risk mitigation practices.
- ICICI Lombard is a general insurance company. It is headquartered in Mumbai. Its CEO is Bhargav Dasgupta.