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Banking & Financial Awareness GK Digest : August 2024

Published on Thursday, September 05, 2024
Banking & Financial Awareness GK Digest : August 2024

SIDBI Partners C2treds & UGRO Capital to Facilitate Loans to MSME Sector

Current Context: Small Industries Development Bank of India (SIDBI) has collaborated with C2treds and UGRO Capital to facilitate loans for the MSME (Micro, Small, and Medium Enterprises) sector.

Details

  • C2treds Partnership:
    • C2treds is a platform that offers MSMEs liquidity within 24 hours through an online bidding process.
    • It operates under the Trade Receivables Discounting System (TReDS) initiative, regulated by the Reserve Bank of India (RBI).
    • Through this collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates.
    • SIDBI’s participation in the C2treds platform will amplify efforts to support the growth of MSMEs, which are vital for employment in India.
  • UGRO Capital Partnership:
    • UGRO Capital, a datatech NBFC (Non-Banking Financial Company), has established a strategic co-lending partnership with SIDBI.
    • This partnership leverages the RBI’s co-lending framework, designed to boost priority sector lending.
    • UGRO Capital has already extended bespoke finance solutions to over 78,000 MSMEs in India. 

SEBI Launched India’s 1st Web Portal for Passive Funds at NSE; Unveiled Report on Capital Markets

Current Context: The Securities and Exchange Board of India (SEBI) recently achieved two significant milestones: India’s First Website for Passive Funds at NSE, Report on Indian Capital Markets.

About

  • India’s First Website for Passive Funds at NSE:
    • SEBI launched India’s first dedicated website for passive funds at the National Stock Exchange (NSE).
    • The website, called IndiaPassiveFunds.com, empowers retail investors by providing comprehensive information about the Indian passive funds industry.
    • It includes aggregate industry data, fund-wise details, and screeners for selecting funds based on various parameters like underlying index, AUM, tracking error, trading volume, and more.
  • Report on Indian Capital Markets:
    • SEBI also unveiled a detailed report titled “Indian Capital Markets: Transformative Shifts Achieved Through Technology and Reforms.”
    • It analyzes the impact of these changes on investors in the country.
    • The growth and transformation of India’s capital markets have been driven by a collective vision to create a resilient, progressive, and technology-driven ecosystem that benefits investors while ensuring safeguards.

Kotak Mahindra Bank and GOQii Launches Smartwatch for Contactless Payments

Current Context: Kotak Mahindra Bank has partnered with GOQii to introduce a new smartwatch that allows users to make contactless payments.

Key Points

  • This innovative device, named Kotak - GOQii Smart Vital Plus, combines payment functionality with health monitoring features.
  • Contactless Payments: Powered by RuPay On-The-Go, users can make seamless transactions up to INR 5,000 without needing a PIN.
  • Health Monitoring: Tracks blood pressure, body temperature, and SpO2 levels.
  • User-Friendly Interface: Easy to navigate and access payment options.
  • Security: Offers the same level of security as traditional contactless cards and mobile devices.

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