Weekly Current Affairs: 15th March to 21st March 2019

Microsoft’s Project Sangam

Microsoft India partnered with The Ministry of Housing and Urban Affairs (MoHUA) to deploy Microsoft’s Project Sangam (cloud-hosted, mobile-first community learning platform) to train functionaries and officers across India on Swachh Bharat e-Learning Portal
Project Sangam empowered the Municipal functionaries by enabling MoHUA to run custom community training courses and track their process, manage content, users and analytics across the program in one place.
It also provided video-based learning for users who have low-bandwidth supporting offline learning for the Swachh Bharat e-Learning Portal users.

In a bid to give a leg-up to oil/ gas refining and marketing, airline and shipping companies, the Reserve Bank of India’s amended Trade Credit Policy has allowed them to raise trade credits of up to $150 million or equivalent per import transaction under the automatic route.
For others, trade credits (TCs) can be raised up to $50 million or equivalent per import transaction

State Bank of India has signed a Memorandum of Understanding (MoU) with Bank of China (BoC), third-largest bank in the world by capital size and one of the major players in the Chinese banking sector, to enhance business synergies between both the banks.

State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age and differently-abled customers .
Eligible customers can avail this service at a nominal fee of ₹100 per transaction for financial transactions and ₹60 for non-financial transactions
This service will not be available for accounts operated jointly, minor accounts, and accounts of non-personal nature.

ICICI Lombard General Insurance, a leading non-life insurance company, has entered into a strategic partnership with MobiKwik, a digital financial services platform, to provide cyber insurance cover for the latter’s mobile wallet users.
The relationship aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets. The cyber-insurance can be availed digitally through the app at only Rs. 99 per month and with a sum insured of Rs. 50,000.
The policy’s validity is only for one month.

The RBI said that IDBI Bank has been categorised as a private sector bank for regulatory purposes with effect from January 21, 2019.
This follows Life Insurance Corporation of India (LIC) acquiring 51 per cent of the total paid-up equity share capital of the bank.

Aviva Life Insurance has announced the launch of ‘Wings’, a specially designed mentorship program to empower the female workforce
The program is an initiative of the SHE division of the company, for mentoring all the women employees.

Bandhan Bank has got the approval from RBI for the proposed acquisition of Gruh Finance.
Gruh Finance Limited is a Housing Finance Company (HFC) recognized by the National Housing Bank (NHB).

WhatsApp has joined hands with NASSCOM Foundation, to tackle the challenge of misinformation. The aim of the partnership is to train 100,000 Indians to spot false information and provide tips and tricks to stay safe on WhatsApp.

Bank of England recognized Metropolitan Clearing Corporation of India Ltd (MCCIL) as a Third-Country Central Counterparty (TC-CCP)
Metropolitan Clearing Corporation of India Ltd (MCCIL) has become the first clearing corporation in India to receive recognition as a Third-Country Central Counterparty (TC-CCP) by Bank of England for offering various clearing services to UK-based entities.The recognition has been granted under United Kingdom’s Temporary Recognition Regime (TRR).

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