IndiaFirst Life Insurance partners Nainital Bank

• IndiaFirst Life Insurance announced a partnership with Nainital Bank for distribution of its products
• This tie-up will help India First Life Insurace Plan to provide life insurance solutions to the customers of the bank and

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Government releases Rs 100 crore towards co-contribution in Atal Pension Yojana

• Government has released Rs 100 crore towards its co-contribution for Atal Pension Yojana (APY) for 2015-16
• Under the scheme, individuals who have registered before March 31, 2016, will get a co-contribution from the

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Fourth tranche of sovereign gold bond scheme from July 18

• The fourth tranche of the government’s sovereign gold bond scheme will open from July 18-22
• Sovereign gold bonds (SGBs) are government securities denominated in grams of gold. They are substitutes for holding

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Ashok Leyland to set up bus assembly unit in Kenya

• Hinduja Group flagship Ashok Leyland will be setting up a bus assembly plant in Kenya with an investment of Rs 70 crore as part of its global expansion plans

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"Who Moved My Interest Rate" authored by Duvvuri Subbarao

• A book titled Who Moved My Interest Rate? written by Duvvuri Subbarao, the former Governor of Reserve Bank of India (RBI) was released. 
• The book is a chronicle of Subbarao’s attempts to demystify

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RBI asks banks to exchange upto 20 soiled notes free of charge

• In an effort to improve customer service, RBI today asked banks to exchange up to 20 pieces of soiled currency notes with a maximum value of Rs 5,000 over the counter free of charge
• However, if the number of notes to be exchanged is more than

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Axis Bank ties up with Vistara to introduce contactless credit card

• Guragon based India’s fastest developing air carrier “VISTARA” ties up with AXIS bank to release a contactless Vistara credit card using the VISA platform.

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SBI signs MoU with IIT Bombay to promote startups

• top public sector bank, State Bank of India (SBI), has signed a memorandum of understanding (MoU) with the Indian Institute of Technology Society for Innovation and Entrepreneurship (SINE), (IIT) Bombay’s technology business incubator, to promote innovation by startups in the financial sector.

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BRICS bank to issue $448 million of yuan green bonds

• The New Development Bank (NDB) of the BRICS countries, including India announced plans to issue green bonds in Chinese yuan to raise funds for clean energy and infrastructure

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HDFC to become first issuer of masala bonds, raise Rs 3,000 cr

• Mortgage lender Housing Development Finance Corporation (HDFC) plans to raise up to Rs 3,000 crore through masala bonds
• HDFC appointed Axis Bank, Credit Suisse and Nomura as

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CEO: World Bank to extend $290 mn credit for Bihar's JEEViKA II

• Centre, Bihar government and World Bank today signed a USD 290-million credit agreement to help improve livelihood opportunities for poor rural households across 300 blocks and 32 districts of the state

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NSE unveils online bidding platform for gold bond issuance

• To facilitate orderly trading in sovereign gold bonds, top stock exchange NSE has introduced online bid collection facility for such issuances

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TCS non-executive director Vandrevala steps down

• Phiroz Vandrevala stepped down from Tata Consultancy Services as a non-executive director 
• However, Vandrevala, also the Vice-Chairman and MD of

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Nasscom unveils first IoT-focused centre

Nasscom (National Association of Software and Service Companies) has launched Country's first centre of excellence focused on Internet of Things (CoE- IoT) at its Startup Warehouse in Bengaluru.

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RBI appoints Sudarshan Sen as Executive Director

RBI  has appointed Sudarshan Sen as an Executive Director in place of N S Vishwanathan, who has been elevated as Deputy Governor at the central bank.

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SBI gets $625 mn from World Bank for solar photovoltaic projects

State Bank of India has inked agreements with the World Bank for a $625-million (around Rs. 4,200 crore) facility to support grid connected rooftop solar programme in the country.

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State Bank of India launches 3 new digital offerings

EMI Facility on Purchase: 

SBI has partnered with Flipkart to offer its consumers the facility of pre-approved EMI Facility on purchases. Under this partnership SBI will provide overdraft facility to pre-qualified set of customers for transacting on Flipkart for a minimum purchase of Rs. 5000.

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RIL, SBI sign shareholder pact for payments bank joint venture

Reliance Industries (RIL) has signed a shareholder agreement with SBI to set up a payments bank joint venture

Shareholder Agreement: Reliance Industries Ltd. with a 70 per cent

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Axis Bank Opens Innovation lab for Start up

Private sector lender Axis Bank launched an innovation lab on Wednesday to hone start-ups and announced that it will create a dedicated fund to invest in these new-age companies that would benefit its business.

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Andhra Bank launches IMPS for money transfer

Andhra Bank has launched Immediate Payment Service (IMPS) at all its branches in association with the National Payments Corporation of India (NPCI).

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