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News-1
News-2
SAI appoints Arjuna Awardee Commodore PK Garg as new CEO of TOPS
The Sports Authority of India appointed Commodore PK Garg as the Chief Executive Officer of Target Olympic Podium Scheme (TOPS)
News-3
Realme announces KL Rahul as new brand ambassador
Indian cricketer K L Rahul has been appointed as the brand ambassador by the Chinese smartphone manufacturer, Realme.
News-4
Deepika Padukone becomes adidas’ brand ambassador
Adidas said it has roped in Bollywood actress Deepika Padukone to endorse the German sportswear brand globally for women sports.
News-5
Ramnath Krishnan appointed as Managing Director and Group CEO of ICRA
Ramnath Krishnan has been appointed as the new Managing Director and Group Chief Executive Officer of rating agency ICRA.
He replaced N Sivaraman, who resigned with immediate effect citing personal reasons on October 23, 2021
News-6
ITILITE partners with ICICI Bank to offer commercial credit card for travel expenses to businesses
ITILITE announced an exclusive tie-up with ICICI Bank to issue commercial credit cards to businesses in the country.
Extra Information •
With this, companies can now get an ‘ICICI Bank Central Travel Account Card (CTA card)’ and make travel bookings for employees seamlessly at a discounted rate on the ITILITE platform.
News-7
Kotak Mahindra Bank partners Pine Labs to expand point-of-sale services
Kotak Mahindra Bank has tied up with Pine Labs to expand its point-of-sale services to more merchants, especially retailers.
News-8
Bharti AXA Life Insurance signs bancassurance pact with Utkarsh Small Finance Bank
Bharti AXA Life Insurance announced its bancassurance partnership with Utkarsh Small Finance Bank Limited for the distribution of life insurance products through the bank’s network of branches across the country.
News-9
RBI introduces Scale Based Regulation (SBR) for NBFCs
The Reserve Bank of India has put in place a revised regulatory framework for NBFCs which is a Scale Based Regulation (SBR).
• These guidelines shall be effective from October 01, 2022.
Now for regulation of NBFCs under the new Scale Based Regulation (SBR), RBI has categorized NBFCs into four layers (or 4 scales) based on their size, activity, and perceived riskiness.
These are:
• NBFC – Base Layer (NBFC-BL)
• NBFC – Middle Layer (NBFC-ML)
• NBFC – Upper Layer (NBFC-UL)
• NBFC – Top Layer (NBFC-TL)
The Top Layer will ideally remain empty.
This layer can get populated if the Reserve Bank is of the opinion that there is a substantial increase in the potential systemic risk from specific NBFCs in the Upper Layer.
Minimum Net Owned Fund Requirement:
• Regulatory minimum Net Owned Fund for NBFC-ICC (Investment and Credit Companies), NBFC-MFI (Micro Finance Institutions) and NBFC-Factors will be increased to Rs. 10 crore (from Rs 2 crore at present).
News-10
Centre plans to form empowered group of secretaries under Cabinet secretary to review implementation of PM GatiShakti
The Cabinet Committee on Economic Affairs has decided to set up an institutional framework to implement, support and monitor the entire programme of PM GatiShakti- the national master plan for ‘multi-modal connectivity’.
Under this, the government will constitute an empowered group of secretaries (EGOS), a network planning group and a technical support unit
EGOS:
• This will have the cabinet secretary as the Chairperson, the head of the commerce ministry’s logistics division as convenor and secretaries of 18 ministries as members
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