Banking, Financial and Economic Awareness of 21, 22 and 23 July 2020

1. Rahul Bajaj to resign as Chairman of the Board of Bajaj Finance Ltd

• Rahul Bajaj will resign as Chairman of the Board of Bajaj Finance Ltd.
• His resignation will be effective from July 31. He will remain the Non-Executive Non-Independent Director of the company.
• The appointment of current Vice-Chairman, Sanjiv Bajaj, has been approved by board of directors of Bajaj Finance Ltd.
• His appointment as Non-Executive Chairman will be effective from August 1. 

2. Long-term gold loan launched by Indel Money

• Long-term gold loan has been launched by Indel Money, which is a Non-Banking Financial Company (NBFC) based in south India.
• The tenure of the recent gold loan is two years and it has an interest rate of 12-24%.
• Earlier in 2019, long-term gold loan with one-year tenure was launched by Indel Money.

3. IHCL acquires ELEL Hotels

• Indian Hotels Company Ltd (IHCL) has acquired balance 14.28% equity interest in ELEL Hotels and Investments Ltd (ELEL).
• After the acquisition, IHCL will become 100% owner of the Sea Rock hotel by December 31, 2021.
• IHCL's subsidiary company has acquired Sea Rock hotel in 2009.
• IHCL is a subsidiary company of Tata Group. In terms of market capitalisation, IHCL is the largest hospitality company in South Asia.  

4. MicroGO's hygiene solution, GOassure

• GOassure is a flagship product of MicroGO, aimed at providing hygiene solution.
• It is being used at airports, hotels, retail stores and corporate offices.
• Goassure is and innovative Internet of Things (IoT) enabled sanitisation solution.
• The company will also soon launch Goassure Lite, which is low-cost, small footprint version of GOassure.   
• GOhands, GOclan, GOfresh, GOpure and GOpure+ are other products of company.
• MicroGo is a Chennai-based start-up. Rachna Dave is its founder.

5. Jeff Bezos net worth increases by $ 13 billion

• Jeff Bezos net worth has increased by record $13 billion in single day.
• This is the biggest single-day increase in an individual's net worth since the creation of Bloomberg Billionaires Index in 2012.
• Bezos is the founder of Amazon. He is the richest person in the world. His income increased by $74 billion in 2020 to $189.3 billion.
• His wife, Mackenzie Bezos is the world's 13^th richest person.

6. Multi ULD Cool Dolly launched by GMR Hyderabad

• Multi ULD (Unit Load Device) Cool Dolly has been launched GMR Hyderabad International Airport.
• The device will provide unbroken cold chain for pharmaceuticals and perishables. They are time and temperature sensitive shipments.
• Cool Dolly has a steel trailer and an aluminium insulated container. It works as a mobile storage unit between Air Cargo Terminal and Aircraft.

7. MoU signed between AP government and AMUL

• A MoU has been signed between Andhra Pradesh government and AMUL (Anand Milk Union Limited).
• The MoU is aimed at helping women SHGs and milk cooperatives in government sector.
• Andhra Pradesh is ranked at fourth in terms of milk production.
• AMUL was formed in 1946. It is headquartered in Anand, Gujarat.

8. MoU for data sharing signed between CBDT and CBIC

• MoU for data sharing has been signed between Central Board of Direct Taxes (CBDT) and Central Board Indirect Taxes & Custom (CBIC).
• The MoU will increase collaboration between CBDT and CBIC.
• Government has also constituted a data exchange steering group. The group will hold meeting periodically and review data exchange status.
• Both of them come under Finance Ministry. CBDT makes policy for corporate tax and personal income tax.
• CBIC deals with Central GST, Central excise duty and Custom duty.
• Pramod Chandra Mody is the Chairman of CBDT and M Ajit Kumar is Chairman of CBIC.

Read Banking Awareness PDF - 21, 22 and 23 July 2020