 The government of India cleared the appointment of Chief Executive Officers and Managing Directors (CEOs and MDs) at 10 Public Sector Banks (PSBs). They are part of the 15 names recommended by the Bank Boards Bureau for elevation. Of those named, five are currently the deputy managing directors of State Bank of India (SBI) while the other five are executive directors (EDs) at different government-owned banks. |
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Here is the list of people appointed as MD and CEO at various PSBs:
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| Source- The Moneycontrol |
 The government has raised interest rates on Small Savings Schemes (SSS), including National Savings Certificate (NSC) and Public Provident Fund (PPF) by up to 0.4% for the October-December quarter, in line with rising deposit rates in the banks. Interest rates for small savings schemes are notified on a quarterly basis. |
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The interest rate for the different deposits and schemes are as follows:
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| Source- The Hindu Business Lines |
 The Employees’ State Insurance Corporation (ESIC) has approved a new scheme- Atal Bimit Vyakti Kalyan Yojna for Insured Persons covered under the Employees’ State Insurance Act. This scheme is a relief payable in cash directly to their Bank Account in case of unemployment and while they search for new engagement. The decision was taken at the ESIC board meeting chaired by the Labour Minister Santosh Gangwar in New Delhi. The eligibility for availing Super Specialty treatment for dependents of Insured Person has now been relaxed to insurable employment of one year with 156 days of contributions. The ESIC also approved the proposal for increasing the funeral expenses from existing 10 thousand rupees to 15 thousand rupees being paid on the death of Insured Person. |
| Source- AIR World Service |
 State-owned India Post Payments Bank (IPPB) and Private Life Insurer Bajaj Allianz Life Insurance Co Ltd (BALIC) entered into a strategic partnership to provide life insurance solutions, especially at the doorstep of every household in the country. This partnership will leverage IPPB’s last mile reach for building awareness about life insurance. Both the companies came together, to formally sign the Corporate Agency Agreement. |
| Source- The Hindu Business Line |
 Tripura Chief Minister Biplab Kumar Deb inaugurated ISRO’s first Space Technology Incubation Centre(STIC) at the National Institute of Technology Agartala via remote from Bengaluru. The Centre was launched at the first edition of ‘Spacetronics’ organised by the India Electronics and Semiconductor Association (IESA). |
| Source-The Times of India |
 Bangladesh's Cabinet has approved a draft agreement with India to enable New Delhi to use the Chittagong and Mongla ports for the movement of goods to and from northeast India. According to the cabinet Secretary Shafiul Alam, the agreement will be effective for five years with a provision of automatic renewal for another five years. |
| Source-News on Air |
 A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed between India and the World Bank. The Project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short-term training in Uttrakhand. The Project has a 5-year grace period and a maturity of 17 years. |
The Project has three components:
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 The Board of Directors of Vodafone Idea Limited, India's largest telecom operator, approved merger of the Vodafone Idea Limited with the Aditya Birla Telecom Limited (ABTL), the parent company of Idea Cellular. The merger was approved under the relevant provisions of the Companies Act, 2013. The merger is now subjected to approval of the National Company Law Tribunal. The Aditya Birla Telecom Ltd holds 11.15% stake in telecom infrastructure firm Indus Towers Ltd. With this amalgamation, Vodafone Idea will directly have shareholding in Indus Towers and can monetise the stake held by ABTL following simplification in the corporate structure. |
| Source- The Economic Times |
 Markets regulator SEBI approved a slew of proposals, including a revised framework for settlement of cases and new KYC norms for foreign portfolio investors. The watchdog has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities, as well as common application form for the registration of FPIs in the domestic market. The board has given its nod for amending delisting regulations. Further, inter-operability of clearing houses for commodities and new methodology to calculate the total expenses ratio for fund managers have been cleared. |
| Source- AIR World Service |
 Lewis Hamilton won the Singapore Grand Prix at Marina Bay Street Circuit, in Singapore. Mercedes’ Lewis Hamilton won the 1st position. He was followed by Red Bull’s Max Verstappen in the 2nd spot. Ferrari’s Sebastian Vettel finished in the 3rd place. With this victory, Lewis Hamilton has increased his chances of winning this year’s Formula One World Championship. |
| Source- The Guardian |
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