Banking, Financial and Economic Awareness

Main Headlines:

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.

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.

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.

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.

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.

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.

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.

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.