- The National Bank for Agriculture and Rural Development has revealed a dedicated debt and credit guarantee product named as “Structured Finance and Partial Guarantee Program for Non-Banking Finance Companies (NBFC)-Micro Finance Institutions (MFIs)”.The newly launched product seeks to offer undisturbed flow of credit to the last mile in rural areas hit by the pandemic.The Structured Finance and Partial Guarantee Program for NBFC-MFIs includes offering partial guarantee on pooled loans offered to small and mid-sized MFIs.
- ICICI Bank uses satellite data to assess the creditworthiness of farmers.ICICI Bank has become the 1st bank in India to use such a technique to measure an array of parameters related to the land, irrigation and crop patterns and use it in combination with demographic and financial parameters to make quick lending decisions for farmers.
- SBI General Insurance has launched a first-of-its-kind insurance product called ‘Shagun – Gift an Insurance”, which is a unique gift of Personal Accident policy.The unique feature of this policy is that it can be gifted to anyone, which means it is not necessary for the policy buyer to be related to the insured.A Gift giver (policy buyer) can gift this product to anyone like family, friends, extended family and even domestic helpers, chauffeurs, drivers, cook, etc.
- Indian Energy Exchange (IEX), Managing Director and Chief Executive Officer, Rajiv Srivastava has resigned form the post.The Board of Directors of Indian Energy Exchange(IEX) accepted his resignation. He was relieved from his position with immediate effect from 24th August 2020.Satyanarayan Goel, the current non-executive chairman of the board of IEX was given additional charges as the interim MD and CEO of the company.
- Hyderabad’s, Neelakantha Bhanu Prakash Jonnalagadda has bagged the first-ever Gold Medal for India in Mental Calculations World Cup (MCWC) by Mind Sports Olympiad (MSO).He has created a new All-Time Record and has beaten the records of Math Maestros like Shakuntala Devi and Scott Flansburg.
- Indian Table Tennis star, Poulomi Ghatak has announced retirement.She had represented India at the Commonwealth Games in 2006 and Commonwealth championships between 2000 and 2008.She entered the Olympics in Sydney for the first time when she was 16.
History on the Date:
(1971) Bobby Orr signs a five-year contract with the Boston Bruins worth one million dollars, the first million dollar contract in NHL history
(1907) Harry Houdini escapes from chains underwater at Aquatic Park in 57 seconds