Election Day- Use Code DEMOCRACY24

Register Now

Banking and Financial Awareness GK Digest: June 2023

Published on Tuesday, July 04, 2023

Banking and Financial Awareness GK Digest: June 2023

Bajaj Allianz Life Insurance Launches India’s 1st Insurance Plan for Diabetics

Current Context: Bajaj Allianz Life Insurance has launched India’s first term insurance product designed for Type 2 diabetics and pre-diabetic individuals.


  • The plan is called Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c and it covers individuals whose HbA1c levels are up to 8%.
  • The plan also offers a 10% reduction on renewal premiums for those who demonstrate improvement in their HbA1c levels.
  • The plan aims to provide financial security for the family of diabetics and also support them with health management services

Myntra, Kotak Mahindra Bank launches Digital Fashion Co-Branded Credit Card

Current Context: Co-branded credit card launched by Myntra and Kotak Mahindra Bank, this is the first-of-its-kind digital fashion and lifestyle credit card in India that offers unmatched benefits for shoppers. Some of the features of this card are:


    • 7.5% instant discount on unlimited transactions on Myntra, up to Rs.750 per transaction
    • Complimentary access to Myntra Insider
    • 5%* cashback on any purchase with some of the popular platforms: Swiggy, Swiggy Instamart, PVR, Cleartrip, Urban Company
    • Unlimited 1.25% cashback on other card spends
    • Quarterly Milestone of 2 PVR Movie tickets
    • Rs 500 e-voucher on card activation
  • The card can be availed through a hassle-free digital journey within minutes, across Myntra as well as Kotak mobile applications.
  • Existing Myntra customers will be able to apply for the card through a completely digital journey on the Myntra app itself. The card will be available on MasterCard and RuPay networks.

Manappuram Finance Launched Digital Lending App ‘Ma-Money’

Current Context: Manappuram Finance has launched Ma-Money, a digital lending platform that will provide customers with all its financial products under one umbrella. The app is targeted at customers in tier 2 and tier 3 cities.

Key Points

  • Ma-Money offers a wide range of loans, including personal loans, business loans, consumer durables’ loans, loans for the healthcare industry, food industry, small-scale industries, car loans, home repair loans, among others.
  • The company hopes that the app will help it to scale up its digital business and reach a wider audience
  • The interest rates and eligibility criteria for Ma-Money may vary depending on the type of loan, amount, tenure, and credit profile of the borrower.

The State Bank of India has launched Project Kuber in Bengaluru

Current Context: Project Kuber is an initiative by the State Bank of India to launch four transaction banking hubs and one corporate salary package hub in Bengaluru.

Key Highlights

  • The objective is to source, facilitate, and cater to the various banking needs of customers, and these hubs will help increase SBI’s market share in liability products.
  • The hubs will also offer services to corporate/non-corporate clients, from account opening to onboarding them on SBI’s digital platforms. The project was launched on June 2, 2023.
  • This project will benefit customers by providing them with one-stop destination for all their payment and collection-related requirements

BoB Launches ICCW facility for cash withdrawals using UPI on its ATMs

Current Context: ICCW facility for cash withdrawals using UPI on BoB ATMs, this is a new and innovative service that allows customers to withdraw cash from Bank of Baroda ATMs without the need for a physical debit card.

Key Facts

  • They just need to select the ‘UPI cash withdrawal’ option, enter the amount, scan the QR code displayed on the ATM screen with their UPI app, and authorize the transaction with their UPI PIN.
  • This facility is secure, convenient and interoperable with other participating banks that use ICCW-enabled UPI apps.
  • Customers can avail of two transactions per day per account, with a limit of 5,000 per transaction.
  • This is a groundbreaking feature that makes banking more accessible and easy for customers.
This digest is not complete. Read the complete digest on the General Awareness Course.
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu