IRDAI Lowers Solvency Requirement and Removes Exposure Limit for Surety Bonds

May 20, 2024

The Insurance Regulatory and Development Authority of India (IRDAI) has made significant adjustments to the regulations governing surety bonds in response to feedback from insurance stakeholders. These changes aim to enhance the accessibility of surety insurance products and encourage more insurers to participate in servicing the growing demand across various sectors of the economy, particularly …

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SBI Revolutionizes SME Lending with 'SME Digital Business Loans'

SBI General Unveils ‘Surety Bond Bima’ for Infrastructure Projects

May 20, 2024

SBI General Insurance, the non-life insurance arm of State Bank of India (SBI), has launched ‘Surety Bond Bima’ to support infrastructure development by providing a security arrangement for infrastructure projects. Purpose and Function This product, developed in line with the government’s vision to upscale infrastructure, offers protection against breaches by contractors during both the bidding …

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GDP Growth Rate Likely to be 6.7% in Q4, Around 7% in FY24: Ind-RA

May 20, 2024

The Indian economy showed robust growth in the first three quarters of the 2023-24 fiscal year, with GDP expanding by 8.2% in the June quarter, 8.1% in the September quarter, and 8.4% in the December quarter. India Ratings and Research (Ind-RA) expects the GDP growth rate to be 6.7% for the March quarter and around …

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Former Indian Army Officer Killed in Gaza Attack

May 20, 2024

The ongoing conflict in Gaza has claimed the life of Colonel (Retd.) Waibhav Anil Kale, a former Indian Army officer who was serving as a staff member of the United Nations Department of Safety and Security (DSS) in the region. The tragic incident occurred on May 13, 2024, when Kale’s vehicle came under attack in …

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World’s AIDS Vaccine Day 2024: Date, Theme, History and Significance

May 18, 2024

World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on May 18th. This day is dedicated to raising awareness about the urgent need for AIDS vaccines and acknowledging the efforts of individuals, including doctors, scientists, and community members, who are committed to developing vaccines to combat HIV/AIDS. Understanding AIDS AIDS, …

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Coal India, NMDC, ONGC Videsh Seek Overseas Critical Mineral Assets

May 18, 2024

The Indian government has announced plans for public sector companies like Coal India, NMDC, and ONGC Videsh Ltd (OVL) to actively seek critical mineral assets overseas. This strategic move aims to secure vital mineral resources essential for various industries, including clean energy technologies and electric vehicles. Introduction of Overseas Ventures Coal India, NMDC, and ONGC …

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India’s April Trade Performance: Exports Inch Up, Trade Deficit Widens

May 18, 2024

In April, India’s merchandise exports saw a modest 1% increase, reaching $34.99 billion, driven by robust growth in sectors like electronics, chemicals, petroleum products, and pharmaceuticals, despite global economic uncertainties. However, the trade deficit widened to a five-month high of $19.1 billion, with imports rising by 10.25% to $54.09 billion. Notably, imports of gold and …

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DPIIT Reports Over 7 Million Transactions on ONDC Platform in April

May 18, 2024

The Open Network for Digital Commerce (ONDC), a digital infrastructure initiative launched in 2021, has witnessed remarkable growth, with transactions crossing 70 lakh in April this year. Led by the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC aims to democratize digital commerce and create a level playing field for businesses of all …

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SBI Launches MSME Sahaj: 15-Minute Online Loan Solution

SBI Raises Short-Term Retail Fixed Deposit Rates Amidst Economic Shifts

May 18, 2024

In response to rising credit demand and falling liquidity, State Bank of India (SBI) has increased short-term retail fixed deposit rates by 25-75 basis points (bps), marking its first interest rate hike since December. This move, likely to be emulated by other banks, reflects a strategic adjustment to offer better returns for depositors. Interest Rate …

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Indian Army Set to Receive Russian Igla-S Air Defence Systems

May 18, 2024

The Indian Army is poised to elevate its air defense capabilities with the impending delivery of the Russian Igla-S Very Short Range Air Defense (VSHORAD) systems. This acquisition, featuring a technology transfer agreement between Adani Defence Systems and Technologies Limited (ADSTL) and Russia’s Rosoboronexport, represents a significant advancement in India’s defense preparedness. What is Igla-S …

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Monthly Archives: May 2024

IRDAI Lowers Solvency Requirement and Removes Exposure Limit for Surety Bonds

SBI General Unveils ‘Surety Bond Bima’ for Infrastructure Projects

GDP Growth Rate Likely to be 6.7% in Q4, Around 7% in FY24: Ind-RA

Former Indian Army Officer Killed in Gaza Attack

World’s AIDS Vaccine Day 2024: Date, Theme, History and Significance

Coal India, NMDC, ONGC Videsh Seek Overseas Critical Mineral Assets

India’s April Trade Performance: Exports Inch Up, Trade Deficit Widens

DPIIT Reports Over 7 Million Transactions on ONDC Platform in April

SBI Raises Short-Term Retail Fixed Deposit Rates Amidst Economic Shifts

Indian Army Set to Receive Russian Igla-S Air Defence Systems

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