Banking, Financial and Economic Awareness
1. CII report expects slowdown in international trade
- CII has released its report titled as India’s Exports: Trends, Challenges and Future Strategy.
- As per the report, international trade will decline both internationally and domestically.
- Rising protectionism all over the world visible in ongoing US-China trade war and decline in growth in the EU region have resulted in a decline in international trade.
- As per the report, domestic capacity is being negatively impacted by imports.
- The report says that new schemes should be developed to diversify export markets and products.
- Confederation of Indian Industry (CII):
- It is a non-government and not-for-profit organization.
- President: Vikram Kirloskar
2. FDI limit in the insurance may be raised to 74%
- At the Life Insurance Council general body meeting, life insurance companies were in favour of raising the FDI limit in the insurance sector from the current 49% to 74%.
- In Budget 2019-20, the government announced that it would examine suggestions about further making FDI conditions easier.
- Life Insurance Council is a forum for development and coordination in the life insurance industry.
3. PaySa app, realme's platform for financial services
- Through PaySa app, realme will provide digital personal loans of maximum ?1 lakh and digital loans to SMSEs of maximum ?5 lakh.
- Realme has partnered with Early Salary (for digital personal loans), Lending Kart (for digital business loans) and Credit Mantri (for free credit report).
- It is a Chinese company that manufactures smartphones.
- CEO (realme India): Madhav Sheth
4. Oracle offering its cloud applications from India data centre
- Oracle has started offering its cloud applications from a data centre located in India.
- This will help customers in regulated industries like banking, telecom companies and the public sector to store their user data within India.
- In October, the company has started its Gen 2 Cloud region in Mumbai.
- Oracle Corporation:
- It is a computer software company.
- CEO: Safra Catz
- Headquarters: California
5. Shares of Cipla rise
- Shares of Cipla rise after the acquisition of brand name and trademark rights of Vysov for the Indian market from Novartis.
- Anti-diabetic drug Vildagliptin was being co-marketed by Cipla and Novartis under brand names Vysov and Vysov M.
- It is a Switzerland based pharmaceutical company.
- CEO: Vasant Narasimhan
- It is an Indian pharmaceutical company.
- CEO: Umang Vohra