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Monthly Current Affair GK Digest: July 2023

Published on Friday, August 04, 2023
Monthly Current Affair GK Digest: July 2023

Paytm partnered with Shriram Finance

Current Context: Paytm and Shriram Finance have announced a strategic collaboration to offer financial services to Paytm users, including loan products.

Details

  • The partnership aims to drive credit inclusion and expand access to credit for small merchants and consumers, especially in rural and semi-urban areas.
  • Paytm will leverage its technology infrastructure and fintech leadership as a loan service provider (LSP) to digitally distribute Shriram Finance’s products on its platform.
  • Shriram Finance will leverage its lending expertise and wide geographical presence as the largest retail NBFC in India to offer a range of loan products to Paytm users.

Tata AIA Revolutionizes Insurance Payments with WhatsApp and UPI Integration

Current Context: Tata AIA Life Insurance, a joint venture between Tata Group and AIA Group, has introduced a new way of paying premiums for its policyholders through WhatsApp and Unified Payment Interfaces (UPI).

About

  • This is the first time in the insurance industry that such a feature has been launched, according to the company.
  • The feature allows customers to pay their premiums instantly and conveniently through WhatsApp and UPI-enabled payment options, such as Google Pay, PhonePe, Paytm, etc.
  • The customers just need to open WhatsApp and launch the Tata AIA Life Insurance chat, send a ‘Hi’ and follow the instructions to complete the payment. They will receive a confirmation and acknowledgement message once the payment is done.
  • The company said that this feature is aimed at providing its customers with the ease and convenience of doing transactions through their preferred modes.

NASSCOM signed MoU with MIDAS & MAG to Set Up 1st launch Pad

Current Context: Nasscom has signed a memorandum of understanding (MoU) with MIDAS (Manchester’s Inward Investment Agency) and MAG (Manchester Airports Groups) to promote innovation, investment, and technological exchange between Greater Manchester, the UK, and India.

Key Facts

  • This MoU will lead to the establishment of the first Nasscom launchpad in the UK, following its success in Canada.
  • The companies will also be assisted with eco-system connects, introductions across stakeholders, and other hand-holding mechanisms to aid in “Faster Go-To-Market”.
  • Nasscom will actively promote the proposition among its membership base. About seven Indian companies will be setting up their operations in the first phase of this pilot project.
  • This is a positive demonstration to facilitate trade ties between the UK and India, especially when the two countries are at an advanced stage of FTA negotiations.

Kotak Bank partnered with NPCI to offer Rupay Credit Cards on UPI

Current Context: According to a media release by Kotak Mahindra Bank, customers can now use their RuPay Credit Card on UPI with UPI enabled Apps such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik, etc.

Key Highlights

  • This allows them to access credit without carrying their physical credit card everywhere with them.
  • They can also earn rewards on their credit card spends and get an interest-free credit period of upto 50 days.
  • This is a gamechanger initiative that will increase purchasing power and convenience of customers as well as deepen the reach and usage of digital payments.

TS Singh Deo Appointed as Chhattisgarh Deputy CM

Current Context: TS Singh Deo, the health minister and senior Congress leader of Chhattisgarh, has been appointed as the deputy chief minister of the state on Wednesday, June 28, 2023.

Key Points

  • He is also the titular Maharaja of Surguja, a royal family of Chhattisgarh. He has been elected as an MLA from Ambikapur constituency thrice since 2008 and was the leader of opposition in the 4th Vidhan Sabha of Chhattisgarh.
  • He holds five portfolios in the cabinet, including health and family welfare, medical education, 20 point program implementation, commercial taxes and panchayat and rural development.
  • He was among the frontrunners for the chief ministerial post in 2018 but was pipped by Bhupesh Baghel, with whom he has been engaged in a power tussle since then.
  • His appointment as deputy CM comes months ahead of the assembly elections in the state, scheduled to be held by November this year.
This digest is not complete. Read the complete digest on the General Awareness Course.
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