Bank of Baroda rolls out ‘Insta Click Savings Account’ India’s third-largest public sector bank, Bank of Baroda (BoB) has launched ‘Insta Click Savings Account’. Insta Click Savings Account is a 100% paperless digital self-assisted online savings account. This account uses a new form of digital KYC (know-your-customer) and Aadhaar-based OTP (one-time personal identification number) authentication of the customer, which can be operated from the bank’s website, through mobile phone, IPad, laptop, and PC. The account is activated in real-time, which means the customer can start transacting, using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.
Airtel Payments Bank partners NSDC to train rural youth Airtel Payments Bank Ltd and National Skill Development Corporation (NSDC) have collaborated in order to train and skill young people in rural areas on financial services and helping them in finding jobs and become entrepreneurs in the sector.The collaboration has an objective to design & conduct focused skill development programs for rural youth and enabling them to adopt the tools to boost online banking and digital financial services. After the completion of skill development programmes, both the organizations will leverage their industry connections to help the trainees find jobs.
Amazon Pay ties up with Acko to sell auto insuranceDigital payments major, Amazon Pay has launched vehicle insurance in partnership with Bengaluru-based startup Acko General Insurance. Amazon Pay, a payments unit of Amazon India, will help customers purchase insurance effortlessly and Amazon Prime members will get extra benefits including additional discounts. Amazon has been selling third-party insurance products but this partnership will enable an easy-to-use integrated buying experience for its customers. Policyholders will also have an option for instant cash settlements for low-value claims, making it beneficial for customers. Additionally, customers can select from a list of add-ons like zero-depreciation and engine protection and they will be able to pay for the insurance using Amazon Pay balance, UPI, or cards.
Alok Misra becomes new CEO & Director of MFIN Microfinance Institutions Network (MFIN) has appointed Alok Misra as its new Chief Executive Officer & Director. The appointment will be effective from 1st August 2020. Dr Misra takes over from the present CEO, Harsh Shrivastava, who has put down his papers after spending over 2 years at MFIN.
Eminent danseuse & choreographer Amala Shankar passes away Eminent danseuse and choreographer Amala Shankar passed away.She was honored with the West Bengal government’s Banga Bibhusan award in 2011 for her contributions to art.First performance of Amala Shankar was in Kaliya Daman which was staged in Belgium in 1931. She also acted in the film “Kalpana” which was released in 1948.
History on the Date:
(1943) Operation Gomorrah: RAF begins bombing Hamburg (till 3rd August), creating a firestorm and killing 42,600 people.
(1982) Single “Eye Of The Tiger” by Survivor from “Rocky III” soundtrack starts 6-week run at No. 1 on US charts (Grammy for Best Rock Performance.
(2005) 92nd Tour de France: no winner; Lance Armstrong retires after winning a record seventh consecutive victory but disqualified in 2012 for doping