Small Industries Development Bank of India (SIDBI) launched a pilot scheme to extend financial assistance of up to Rs 10 crore to new-age fintech non-banking finance companies (NBFCs) engaged in financing small businesses and other income-generating activities. SIDBI set the exposure cap for lending to a single new-age fintech NBFC at 30% of NOF of the new-age fintech NBFC, subject to maximum cap of Rs 10 crore.
Captain Aarohi Pandit, a 23-year-old pilot, from Mumbai became the world’s first woman to cross the Atlantic Ocean solo in a Light Sports Aircraft (LSA) on 14th May. This achievement is part of her ongoing Women Empower (WE) Expedition in the tiny aircraft called Mahi. This one year-long global circumnavigation flight was launched with her friend Captain Keithair Misquitta on July 30 and both began their trip in August 2018.
China has become the sole contender to host Asian Cup Football tournament in 2023 after South Korea has announced to withdraw its bid to host the game. The Korea Football Association (KFA) announced that it had pulled out to strategically focus on a joint bid with North Korea to host the Women’s World Cup in the same year.
Nepalese Sherpa climber Kami Rita has scaled Mount Everest for a 23rd time, breaking his own record for the most successful ascents of the world’s highest peak. He first scaled Everest in 1994. He has also scaled several other peaks that are among the world’s highest, including K-2, Cho-Oyu, Manaslu, and Lhotse.
HDFC Bank collaborated with IMGC (India Mortgage Guarantee Corporation) for a mortgage guarantee-backed home loan. Mortgage guarantee is a financial product which compensates lending institutions for the losses that may occur when a home owner defaults on a mortgage loan. In ‘mortgage guarantee’, the risk of the home loan gets transmuted from the bank/FIs (financial institution) to the mortgage guarantee company.
Reserve Bank of India on May 15 released a vision document, ‘Payment and Settlement Systems in India: Vision 2019 – 2021’, with its core theme of Empowering Exceptional (E) payment Experience that aims to achieve a highly digital and cash-lite society.
The National Bank for Agriculture and Rural Development (NABARD) announced Rs 700-crore venture capital fund for equity investments in agriculture and rural-focused startups. NABARD has been contributing to other funds till now and this is the first time that the rural development bank has launched a fund of its own.
The website of the Lokpal www.lokpal.gov.in has been launched. It was inaugurated by Chairperson Justice Pinaki Chandra Ghose in presence of all the Members of Lokpal in New Delhi. It provides basic information about the working and functioning of the anti-corruption ombudsman.
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