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Banking & Financial Awareness GK Digest : June 2024

Published on Tuesday, July 09, 2024
Banking & Financial Awareness GK Digest : June 2024

PhonePe Launches Secured Lending Platform With Banks, NBFC and Fintech Firms

Current Context: On Thursday, May 30, 2024, PhonePe, a Walmart-owned fintech firm, launched a secured lending platform in collaboration with banks, non-banking financial companies (NBFCs), and other fintech firms.


  • The platform, designed to provide a seamless user experience in the secured loans category, offers its over 535 million registered users access to loans across six major categories: Mutual Fund Loan, Gold Loan, Bike Loan, Car Loan, Home Loan/Loan against Property, and Education Loan.
  • The loan application process is initiated within the familiar environment of the PhonePe app, simplifying the process for users.
  • PhonePe has partnered with top lenders such as Tata Capital, L&T Finance, Hero FinCorp, Muthoot Fincorp, DMI Housing Finance, Home First Finance, rupyy, Volt Money, Gradright, and more.

SEBI Launches User-Friendly Beta Settlement Calculator

Current Context: The Securities and Exchange Board of India (SEBI) launched a Beta version of its Settlement Calculator.


  • The calculator allows applicants to select fields according to the offences they have committed.
  • It enables the applicant to select appropriate options based on their previous regulatory history, SEBI’s actions, and the details of any other ongoing procedures as of the filing date of the settlement application.
  • A user-friendly guide video has been included in the settlement calculator for the ease of understanding the process of arriving at the indicative settlement amount.
  • The beta version of the settlement calculator is available on the SEBI website.
  • This initiative is aimed at enhancing transparency and making the settlement process more user-friendly.

Adani Group & ICICI Bank launch co-branded credit cards with airport lined benefits

Current Context: The Adani Group and ICICI Bank have indeed launched co-branded credit cards with airport-linked benefits. This strategic partnership aims to enhance customer experience across various businesses.

Key Points

  • The cards are available in two variants: Adani One ICICI Bank Signature Credit Card and Adani One ICICI Bank Platinum Credit Card.
  • They offer up to 7% Adani Reward Points on spends across the Adani Group consumer ecosystem like the Adani One app, Adani-managed airports, Adani CNG pumps, Adani Electricity bills, and Trainman, an online train booking platform.
  • The cards come with a plethora of benefits designed to enhance the cardholders’ lifestyle and elevate their airport and travel experience.
  • They offer airport privileges like premium lounge access, Pranaam Meet & Greet Service, porter, valet and premium car parking.
  • It aims to provide customers with an enhanced and seamless payment experience while unlocking a world of exclusive privileges.

This digest is not complete. Read the complete digest on the Financial Awareness Course.
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