NATIONAL
1. Jharkhand CM launches UJALA scheme
BUSINESS
2. RBI keeps repo rate unchanged after monetary policy committee meeting
3. Federal Bank, Commodity Online in pact for agri loans
4. IFFCO partners BoB to issue co-branded debit card for farmers
5. ICICI Securities partners with Saxo Bank
6. HDFC Bank goes live on Bharat Bill Payment System
SPORTS
7. 7Badminton Nationals: Sourabh Varma beats Lakshya Sen in final, Rituparna Das clinches women’s title
NATIONAL
1. Jharkhand CM launches UJALA scheme
• Jharkhand Chief Minister Raghubar Das today launched energy efficient fans and LED tube lights under the 'Unnat Jeevan by Affordable LEDs and Appliances for All' (UJALA) scheme in the state.
• Total 85 lakh LED bulbs have been distributed.
• The state government set a goal to electrify the rest 23 lakh households by March, 2019
• The goal of the government is to generate 2650 MW solar energy by 2019-20
BUSINESS
2. RBI keeps repo rate unchanged after monetary policy committee meeting
The repo rate, at which it infuses liquidity into the banking system and is the signalling rate now, stands at 6.25%. One basis point is one hundredth of a percentage point.
Policy rates:
Repo Rate- 6.25%
Reverse Repo Rate- 5.75%
Marginal Standing Facility Rate- 6.75%
Bank Rate- 6.75%
Reserve Ratio:
CRR- 4%
SLR- 20.50%
3. Federal Bank, Commodity Online in pact for agri loans
• Federal Bank Limited has partnered with leading online data and information portal Commodity Online for the distribution of loans against warehouse receipts and collateral management services across the country.
• Commodity Online will roll out an agri-commodity financing platform through its flagship portal www.commodityonline.com where farmers and traders can track commodity markets and warehouses online and get financing for their commodities quickly.
• The bank’s partnership with the portal enables it to aggressively get into the online space to provide financing for agri-commodities with collateral management across India.
• Farmers and traders can track the spot market prices of all commodities live, check where warehouses are available and track research insights from each commodity market across India.
4. IFFCO partners BoB to issue co-branded debit card for farmers
• Fertiliser major IFFCO has tied up with Bank of Baroda to launch co-branded debit cards for farmers as part of strategy to promote cashless transactions in the rural area.
• IFFCO and Bank of Baroda yesterday signed a Memorandum of Understanding (MoU) in this regard. The pact was signed by Yogendra Kumar, General Manager (Marketing), IFFCO and GB Panda, General Manager (government relationships), Bank of Baroda.
• "Bank of Baroda will open Aadhaar-enabled accounts of farmers and (have) agreed to issue co-branded debits card to the specified farmers with overdraft facility of Rs 2,500 per card through which farmers can purchase the IFFCO and its subsidiary agri-inputs exclusively from specified retail points on credit period of one month,"
• The co-branded cards will be given to the farmers in Uttar Pradesh, Bihar, Rajasthan and Madhya Pradesh
5. ICICI Securities partners with Saxo Bank
• ICICI Securities, a subsidiary of ICICI Bank, has entered into a strategic partnership with Saxo Bank, an online multi-asset trading and investment specialist.
• This partnership will offer Saxo's trading and investment capabilities via a digital platform to Indian investors.
6. HDFC Bank goes live on Bharat Bill Payment System
• Private sector lender HDFC Bank said that it has gone live on Bharat Bill Payment System (BBPS) for HDFC Bank’s Net Banking for customers.
• BBPS is a centralized system created by National Payments Corporation of India involving banks and non-banks, which allows agents to access bill payments services in an interoperable manner.
• Customers can now pay their utility bills like electricity, gas and water bills instantly without registering the biller.
• HDFC Bank customers can avail of BBPS after logging onto the Net Banking page.
• Going forward, the Bank plans to make this service available for non-customers as well.
• BBPS will also be incorporated into HDFC Bank's Mobile Banking shortly.
SPORTS
7. Badminton Nationals: Sourabh Varma beats Lakshya Sen in final, Rituparna Das clinches women’s title
• Seasoned campaigner Sourabh Varma used all his experience to deny Lakshya Sen a fairytale end as he tamed the new badminton sensation in straight games in the summit clash to emerge men's singles champion at the 81st Senior Badminton National Championshi
• The women's singles title was lifted by second seed Rituparna Das, who brushed aside the challenge of ninth seed Reshma Karthik 21-21 21-14 in 28 minutes in the final.
