|Sangeeta Verma has been appointed as the Competition Commission of India’s (CCI) acting chair by the Ministry of Corporate Affairs.||She had already joined CCI. She has been hired for a period of three months or until further notice.|
On December 24, 2018, she became a member of CCI.
After serving in the position for four years, Ashok Kumar Gupta, the outgoing CCI Chairperson, resigned.
|A Memorandum of Understanding (MoU) between Jakson Green and the Rajasthani government had been inked.||In order to develop a Green Hydrogen and Green Ammonia project in Rajasthan over the course of several years, Jakson Green had secured an agreement to invest about 22,400 rupees (about $2.8 billion).|
A 3,65,000-ton-per-year Green Hydrogen and Green Ammonia factory will be built in Kota by Jakson Green.
Jakson Green would receive assistance from the Rajasthani government in obtaining the necessary registrations, approvals, clearances, and incentives.
The Jakson Group, an infrastructure and diversified energy corporation with its headquarters in Noida, includes Jakson Green.
|The IBA has chosen Atul Kumar Goel to serve as its chairman again for the years 2022–2023.||The Indian Banks’ Association’s Managing Committee has chosen to re-elect him.|
He serves as the CEO and Managing Director of Punjab National Bank.
The State Bank of India’s chairman, Dinesh Kumar Khara, was also re-elected by the committee to serve as IBA’s deputy chairman.
It chose A S Rajeev, MD and CEO of Bank of Maharashtra, to serve as IBA’s deputy chairman.
Additionally, Madhav Nair, country head and CEO of Mashreq Bank PSC, was chosen to serve as IBA’s vice chairman.
N Kamakodi, Managing Director & CEO of City Union Bank, was chosen by the committee to serve as IBA’s Honorary Secretary.
|A loan deal for $150 million has been struck by IndusInd Bank and the United States International Development Finance Corporation (DFC).||The bank would lend to female borrowers in rural Jharkhand, Uttar Pradesh, and Bihar communities using the loan profits.|
The bank wants to increase women’s access to credit and improve the lives of these women and their families.
|The debut of Banking-as-a-Service (BaaS) by Intellect Global Transaction Banking (iGTB).||The capacity of banks to directly embed financial services and products within the ecosystems of their clients as they provide for their customers is known as BaaS.|
Three products from iGTB’s BaaS lineup are in line with prevalent Embedded Banking paradigms.
Embedding Direct (into B2B, B2C marketplaces and e-commerce platforms)
Using white labels (to distribute banking services via fintechs or aggregators)
facilitating non-banks (to operate like a bank)
iGTB is a transaction banking and technology expert from Intellect Design Arena in Chennai.
|The EdelGive Hurun India Philanthropy List 2022 has Shiv Nadar at the top.||The second person on the list was Azim Premji of Wipro. As the only living Indian to appear in the EdelGive Hurun Philanthropists of the Century, Premji was also mentioned.|
Third and fourth place were held by Mukesh Ambani and Kumar Mangalam Birla.
The youngest philanthropist on the EdelGive Hurun Philanthropy List 2022 was Nikhil Kamath of Zerodha.
The most giving women are led by Rohini Nilekani, Leena Gandhi Tewari, and Anu Aga.
The 12th position newcomer on the list was Ajit Isaac. For the first time ever, Rakesh Gangwal was also included on the list.
The first professional manager to rank in the top 10 on the EdelGive Hurun Philanthropy List is AM Naik, group chairman of Larsen & Toubro.
The only other managers on the list who are professionals are Amit Chandra and Archana Chandra.
Mumbai topped the list with 33% of the philanthropists, followed by Bengaluru and New Delhi in that order (3rd).
The list’s benefactors are most numerous in the pharmaceutical industry.
For the ninth consecutive year, EdelGive Foundation and Hurun Report have released the EdelGive Hurun Philanthropy List.
|For the second consecutive month, credit cards in use decreased in September.||This is due to the fact that credit card companies closed dormant cards in order to follow RBI regulations.|
By 2.9 lakh or 0.4%, the number of cards in use fell to 7.8 crore as of September 30, 2022.
RBI has requested that issuers deactivate credit cards that have not been used for more than a year.
With effect from July 1, issuers began cancelling credit cards in accordance with RBI instructions.
Additionally, starting on October 1, the RBI has instructed issuers to cancel cards that have not been activated for 30 days.
The highest percentage reduction in card usage was reported by Bank of America, Standard Chartered, ICICI Bank, Bank of India, HSBC, American Express, and Citibank.
The majority of the card accretion in September was reported by DBS Bank, SBM Bank India, Federal Bank, South Indian Bank, AU Small Finance Bank, IDFC First Bank, and Bank of Baroda.
The biggest acquirer was Kotak Mahindra Bank, which was followed by IDFC First Bank, Bank of Baroda, and IndusInd Bank.
Spending on cars increased despite a fall in card numbers. In September, card purchases totaled 1.2 lakh crore, up 9.1% month over month.
Gained market share were SBI, ICICI Bank, and Axis Bank. Their card purchases went up by 19–28%. By 234 bps, HDFC Bank lost market share.
|The Central Organization for Modernization of Workshops (COFMOW) will be shut down, according to the Ministry of Railways .||COFMOW will cease operations on December 1st, 2022.|
After the Ministry of Finance’s Principal Economic Advisor’s advice to streamline government agencies, the Ministry made its decision.
For the purpose of modernising Indian Railways workshops, COFMOW was founded in 1979. It belongs to the public sector (PSU).
Indian Railways Station Development Corporation was earlier terminated by Railways.
|Beginning in 2025, India will export green energy to Singapore.||An MoU has been struck between Singapore’s Keppel Infrastructure and India’s Greenko company.|
Both parties would collaborate in pursuit of a 250,000 tonnes per year contract under the terms of the MoU to explore options in India’s potential for green hydrogen.
According to the MoU, the new 600MW power plant in Singapore owned by Keppel would receive the first shipment.
The signing of the Greenko-Keppel MoU was virtually seen by Singapore’s Trade and Industry Minister Gan Kim Yong and Petroleum and Natural Gas Minister Hardeep Singh Puri.
One of the top renewable energy firms in India is Greenko.
|After four years, the Financial Action Task Force (FATF) removed Pakistan from its “grey list.”||This choice was made by the FATF at its plenary session on October 21 in Paris.|
This disgraceful grey listing has affected Pakistan’s imports, exports, and remittances in addition to limiting Pakistan’s access to international investment.
Pakistan has been included on the FATF’s “grey list” since June 2018 as a result of shortcomings in its anti-terrorism financing and anti-money laundering policies.
Myanmar has now been placed on FATF’s “black list.” Myanmar has been added to the “black list,” a list of nations with a high risk of terrorist attacks.
Since 2020, Iran and North Korea have been placed on a “black list.”
Because Myanmar has been unable to stop illicit financial flows, the decision to include it was made.
The FATF recommended Myanmar to finish its action plan by October 2022 in June 2022.