Current Affairs October 2018 - Banking
1 - With 33% Share, Paytm Tops
After the support of Alibaba and SoftBank, Paytm registered over 137 million UPI transactions in September and became the leading contributor to Unified Payments Interface (UPI) payments. It has secured more than 33 per cent of the overall market share.
More than 20% of all payments on Paytm are made by using BHIM UPI for mobile recharge and payments, electricity and water bills, and DTH recharges, etc.
2 - BSE First To Commence Commodity Derivatives Trading In Gold & Silver
The Bombay Stock Exchange (BSE) became the first stock exchange in the country to launch commodity derivatives contract in gold and silver. Commodity derivatives contract is usually available only on MCX and NCDEX - the two specialised commodity derivatives exchanges in the country.
Likewise, history was created by BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds commenced commodity derivatives started trading in delivery-based futures contract in gold and silver.
3 - ADB Approved $ 150 Million Loan For Regional Connectivity
Asian Development Bank (ADB) and the Government of India signed a $150 million loan to finance regional connectivity projects in North Bengal and North Eastern states. The project was approved in 2014 with the objective to develop a road stretch of 500 kms between North Bengal and Northeast India and connect these regions.
However, the new loan has approved an upgradation of 66 kms national and 103 kms of state highways in Manipur. Besides, the construction of an international bridge (about 1.5 kms) between India and Nepal.
4 - Infosys Finacle Launched Digital Engagement Suit For Banks
Infosys Finacle, a part of Infosys’ product subsidiary EdgeVerve Systems launched a Digital Engagement Suit for banks with an objective to interact with customers with customized experiences.
Already recognized banks in more than 75 countries, are on a track to accelerate the speed of internal and external innovation with an ecosystem of partner innovations. It will engage with end customers, internal users, partners and trusted parties.
Besides, it will also provide comprehensive capabilities to engage retail, wealth, small business and corporate customer segments.
5 - Oil Regulator Approved Sale of Ambani’s Pipeline to Brookfield
Mukesh Ambani has gotten the approval by oil regulator PNGRB for the selling of his loss-making east-west natural gas pipeline to Canadian investor Brookfield. The Competition Commission of India (CCI) had in September approved the transaction; Brookfield is sponsoring an Infrastructural Investment Trust (IIT) known as Indian Infrastructure Trust as the acquisition vehicle.
After a few weeks, Petroleum and Natural Gas Regulatory Board (PNGRB) gave its approval. Likewise, it is the first investment in the energy sector in India by Brookfield.
