1. Kumar Mangalam Birla gets Global Entrepreneur of the Year Award from TiE.
- Kumar Mangalam Birla have got Global Entrepreneur of the Year Award- Business Transformation from The Indus Entrepreneurs (TiE).
- Kumar Mangalam Birla is the chairman of Aditya Birla Group. Birla is first Indian industrialist to get the award.
- The awards were given out to Techstars for Best Global Accelerator for Startups, MIT for Global University Promoting Student Entrepreneurship and Accel as Best Global VC Fund.
- The Indus Entrepreneurs (TiE) is a Silicon Valley non-profit organization. It supports start-ups through networking and raising of capital.
2. RBI imposes Rs 30 lakh monetary penalty on ICICI Bank.
- RBI imposed Rs 30 lakh monetary penalty on ICICI Bank due to non-compliance with its directions related to levy of charges for non-maintenance of minimum balance in saving accounts.
- RBI has also imposed Rs 1.8 crore monetary penalty on Punjab National Bank.
- RBI carried out Statutory Inspection for Supervisory Evaluation (ISE) of PNB with reference to its financial position as of March 31, 2019.
- RBI found non-compliance of its provisions relating to the pledge of shares by the PNB.
Punjab National Bank (PNB) is the second largest Public Sector Bank of India. It was established in 1894. Its CEO is S. S. Mallikarjuna Rao.
ICICI Bank (ICICI Bank Limited) is a private sector bank. Girish Chandra Chaturvedi is chairman of its board of directors. Its MD & CEO is Sandeep Bakhshi.
3. IPRULIFE becomes first Indian insurance company to sign UN-supported Principles for Responsible Investment (UNPRI).
- ICICI Prudential Life Insurance (IPRULIFE) has become first Indian insurance company to sign the United Nations-supported Principles for Responsible Investment (UNPRI).
- This demonstrates its commitment towards the environment, social and governance (ESG) issues.
- ‘Sustainable Equity Fund’, an ESG-focused fund, was recently launched by IPRULIFE as part of its commitment towards promoting sustainable investing.
- UNPRI is an investor initiative in partnership with the two bodies of United Nations. These bodies are UN Environment Programme Finance Initiative and UN Global Compact.
- Currently, UNPRI has over 4,000 signatories from 60 countries. It is a UN-supported network of investors, works to promote sustainable investment.
Topic: Reports and Indices
4. Investments in Indian agri tech and food tech sectors doubled to $2.1 billion.
- As per India Agrifood Startup Investment Report, investments in Indian agri tech and food tech sectors doubled to $2.1 billion in financial year 2020-21.
- As per the report, investments in these sectors stood at $1.1 billion in fiscal 2019-20.
- The agribusiness marketplaces collected $86 million in fiscal 2020-21, up from $30 million.
- Agrifood Startup Investment Report is an annual assessment of the latest funding trends in these sectors in India.
- It is brought out by AgFunder, one of the most active global venture capital firms, and Omnivore, the most active VC in the country.
Topic: Banking System
5. Union Bank of India raises ₹1,500 crore by issuing Basel III compliant debt instruments at a coupon rate of 8.40%.
- Union Bank of India has raised ₹1,500 crore by issuing Basel III compliant debt instruments at a coupon rate of 8.40%.
- The issue size of Union Bank of India’s debt issuance was ₹500 crore with a green shoe option to retain over subscription up to ₹1,000 crore.
- The debt instruments, which have ₹1 crore face value, are like debentures that are eligible for inclusion in Additional Tier-1 Capital.
- Last month, ₹2,000 crore were raised by Union Bank of India via AT-1 bonds at a coupon rate of 8.70 %.
Union Bank of India was founded in 1919. Its CEO is Rajkiran Rai G. It is headquartered in Mumbai. It is a government-owned bank.
6. WhatsApp launches Digital Payments Utsav programme.
- WhatsApp has launched Digital Payments Utsav programme to adopt 500 villages in Karnataka and Maharashtra to promote digital payments in India.
- Digital Payments Utsav programme was announced by WhatsApp at its Fuel For India 2021 annual event.
- The pilot of the programme started on 15 October with residents of Kyathanahalli village in Karnataka's Mandya district.
WhatsApp was released in January 2009. It was acquired by Facebook in February 2014. It was originally programmed by Brian Acton and Jan Koum.
Its CEO is Will Cathcart. It is headquartered in California, US. Its parent company is Meta.
7. Arvind Kumar becomes Director General of Software Technology Parks of India (STPI).
- Arvind Kumar has become Director General of Software Technology Parks of India (STPI).
- Prior to joining STPI, Arvind Kumar was working in the Telecom Regulatory Authority of India (TRAI).
- STPI is an autonomous body under the Ministry of Electronics and Information Technology (MeitY), Government of India.
- It is implementing Next Generation Incubation Scheme (NGIS), a flagship programme of MeitY.
Topic: Committees/ Commissions/Taskforces
8. SEBI constitutes Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS).
- SEBI has constituted Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) for suggestions to detect early market anomalies.
- ALeRTS will be headed by SEBI's ex-whole time member Madhabi Puri Buch.
- The committee would recommend future roadmaps and improvements in the various on-going technology projects.
- It will guide SEBI in designing and framing requirements for the various in-house systems.