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Reserve Bank of India advised all Scheduled Commercial Banks to adopt Education Loan Scheme.
The schemes are formulated by the Indian Banks Association.
The salient features are
Collateral free loans up to Rs 7.5 Lakh under the Credit Guarantee Fund Scheme for Education Loans (CGFSEL).
No Margin for a loan up to Rs 7.50 Lakh.
Repayment period of 15 years
Loan up to Rs 10 lakh for study in India and up to Rs 20 lakh for study abroad.
One Year Moratorium for repayment after... Read More
DMK president M.K. Stalin proposed a motion of no-confidence against Mr. Dhanapal for the issue of three AIADMK legislators should not be disqualified with AMMK leader T.T.V. Dhinakaran.
The three MLAs E. Rathinasabapathy (Aranthangi constituency), V.T. Kalaiselvan (Vriddhachalam) and A. Prabhu (Kallakurichi) approached the Supreme Court.
The Assembly will be back to its largest number of members in the House.
The Nanguneri MLA H. Vasanthakumar winning the Lok Sabha polls left two... Read More
The World Bank approved a $147 million loan agreement to provide basic urban services to the people of Jharkhand.
Their aim is to improve the management capacity of the urban local bodies (ULBs) in the state.
They focus on improving the municipal sector's capacity to provide basic urban services.
They invest in urban services such as water supply, sewerage, drainage, and urban roads.
Their main aim is to strengthen the capacity of the Jharkhand Urban Infrastructure Development... Read More
The Reserve Bank of India launched an application on its website for lodging complaints against banks.
The NBFCs decided to improve customer experience in timely redressal of grievances.
Complaint Management System (CMS) is a software application its main aim to facilitate RBI's grievance redressal process.
Customers can raise complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks, Non-Banking Financial Companies... Read More
The book, "Function of Data Sovereignty - The Pursuit of Supremacy'
It is written by Vinit Goenka, Author, Secretary
He is a member of the Governing Council- CRIS (Centre for Railway Information Systems) and Ministry of Railways.
The book focuses on steps and concrete actions required to build highly capable data centers to ensure data security.
The book tells aspect of data generation and consumption
It encourages policymakers on data localization and creates... Read More
Maruti Suzuki, an Automobile manufacturer in India signed 'Preferred Financier' MoU(Memorandum of understanding) with Indian multinational with Bank of Baroda(BOB) in order to improve credit for dealership inventory financing.
The partnership with Bank of Baroda allows Maruti Suzuki to finance opportunities to dealers as well as customers.
The financing will work in line with the Bank of Baroda's product program of Supply Chain Finance.
The tight liquidity situation... Read More
Odisha Government released a Flood Hazard Atlas for efficient management of flood in the state.
The report was released by the Odisha Chief Minister (CM) Naveen Patnaik.
It is jointly prepared by the National Remote Sensing Centre (NRSC) of ISRO(Indian Space Research Organization) along with the Odisha State Disaster Management Authority (OSDAMA) analyzing data relating to flood from 2001 to 2018.
Around 13.96 lakh hectares of land affected by flood every year in Odisha
Eight... Read More
Indian Women's Hockey team won the FIH (Fédération Internationale de Hockey) He defeated Japan 3-1 in the finals held at the Hiroshima Hockey Stadium, Japan.
Indian team Captain Rani Rampal scored the first goal in the 3rd minute and Gurjit Kaur scored goals at the 45th and 60th minutes.
Japan's Kanon Mori scored the goal for the team.
Gurjit Kaur emerged as World No. 9 Indian team qualified for the FIH Olympic Qualifiers 2019
About FIH/... Read More
Lewis Hamilton of Mercedes won the French Grand Prix
It is held in Circuit Paul Ricard, Le Castellet, France
They secured 187 points.
The United Kingdom got an eighth straight win in the year 2019
It was the sixth win of the season
It is 79th of his career.
He defeated Valtteri Bottas of Mercedes (Finland) secured 151 points.
Charles Leclerc of Ferrari (Monaco) got third
Max Verstappen of Red Bull (Belgium) fourth
About French Grand Prix
It... Read More
The International Olympic Committee (IOC) inaugurated 145 million Swiss francs ($145 million) named Olympic House in a ceremony
It is held at the lakeside grounds of Olympic House in Lausanne, Switzerland.
It is inaugurated exactly 125 years after the Olympic Games.
The newly built headquarters designed by architecture firm 3XN of Denmark.
It is built of 95% of the old materials
The signature feature of the new building is a central staircase.
Around 500 IOC... Read More
Larsen and Toubro (L&T) bagged a mega engineering, procurement and construction (EPC) order from SJVN Thermal Private Limited.
Their main aim to set up a 2x660 MW ultra-supercritical power plant in Buxar district, Bihar.
The award costs around ₹7,000 crore as per the company’s classification of mega project.
The L&T includes design, engineering, manufacturing, procurement, supply, testing & commissioning of the Buxar project.
It covers steam generator, steam turbine... Read More
National Small Industries Corporation (NSIC) signed an MoU with Common Service Centres (CSC) e-Governance Services India to enhance new offerings for the MSME sector.
This MoU enables CSCs to utilize a plethora of NSIC offerings through the NSIC portal.
He facilitates VLEs and MSMEs through digital empowerment in accessing NSIC integrated support services encompassing Marketing, Finance, Technology.
The MoU special focus on providing services to village level entrepreneurs (VLEs) to... Read More
The United Arab Emirates' Central Bank in Abu Dhabi at their Financial Intelligence Unit (FILI) introduced a new reporting platform 'goAML' (global operations Anti-Money Laundering).
It is developed by the United Nations Office on Drugs and Crime (UNODC)
Their main aim is to curb organised crimes.
It is the first country in the Gulf to launch this platform.
All financial institutions in the IJAE must register on the new platform by June 27,
2019 to avoid... Read More
The Reserve Bank of India’s (RBI) Deputy Governor Viral Acharya resigned six months before the scheduled end of his term
He returned to New York University Stern School of Business (NYU stern) as CV Starr Professor of Economics.
He submitted a letter to RBI he is unable to continue his term as a Deputy Governor of the RBI beyond July 23, 2019.
He joined RBI on January 23, 2017.
He leave the central bank on December 10, 2018
He is in charge of the Financial Stability Unit,... Read More
Mauritania, a country in Northwest Africa conducted election a former general and defense minister, Mohamed Ould Ghazouani of Union for the Republic (UPR) party won the presidential election.
He won with 52% votes.
He succeeds Mohamed Ould Abdel Aziz.
Anti-slavery activist Biram Dah Abeid won second with 18.58% votes.
Sidi Mohamed Ould Boubacar biggest Islamist party won third with 17.87% votes.
First time in 60 years Mauritania faced elections.
They gained independence (28 November 1960)... Read More
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