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Canara HSBC Oriental Bank of Commerce Life Insurance ties up with Dhanlaxmi Bank for marketing various life insurance products
Private life insurance company Canara HSBC Oriental Bank of Commerce Life Insurance has entered into an alliance with the Kerala-based Dhanlaxmi Bank for marketing various life insurance products.
As part of the agreement, the Bank will be a corporate agent for 3 years; however, both aim to continue this relationship for long term.
The insurance company with a customer base of 115 million and a pan India network of 9500 branches has garnered Rs.110 crore profit in FY17, registering a 40 per cent growth vis-a-vis 38 per cent in the previous fiscal.
Reserve Bank of India (RBI) limits customer liability in online banking frauds.
Laying out norms for limiting customer liability in online banking frauds, the Reserve Bank of India (RBI).
In cases of zero and limited liability of the customer “on being notified by the customer, the bank shall credit the amount involved in the unauthorised electronic transaction to the customer’s account within 10 working days from the date of such notification by the customer (without waiting for settlement of insurance claim, if any) directed banks to credit the amount involved in the unauthorised electronic transaction within 10 working days to the account holder.
RBI also said that banks need to ask their customers to mandatorily register for SMS alerts and e-mail alerts for electronic banking transactions.
Indian Government will launch new tranche of Sovereign Gold Bond (SGB) in 2017-18, on July 10
The bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges namely the NSE and BSE.
The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings, used for purchase of gold, into financial savings.
The government has so far issued eighth tranches of SGBs and mobilised Rs. 5,400 crore till date.
Investors in these bonds have been provided with the option of holding them in physical or dematerialised form.
As per the statement, the bonds with tenure of 8 years will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
UNESCO declared the Old City of Hebron an endangered world heritage site, sparking outrage from Israel in a new spat at the international body.
Meeting in Poland, the UN’s cultural arm voted 12 to three — with six abstentions — to give heritage status to Hebron’s Old City in the occupied West Bank, which is home to more than 200,000 Palestinians and a few hundred Israeli settlers.
The city is home to the imposing Tomb of the Patriarchs, the resting place of key Biblical figures Abraham, Isaac and Jacob and one of the most important religious sites to Muslims and Jews alike.
India ranked at 23rd rank among 165 nations in cyber security index released by the UN telecommunications agency International Telecommunication Union (ITU). It’s topped by Singapore
The second Global Cybersecurity Index (GCI), released by the UN telecommunications agency International Telecommunication Union (ITU), said only about half of all countries have a cybersecurity strategy or are in the process of developing one and urged more countries to consider national policies to protect against cybercrime.
India is ranked 23rd on the index with a score of 0.683 and has been listed in the “maturing” category, which refers to 77 countries that have developed complex commitments to cybersecurity and engage in cybersecurity programmes and initiatives.
The index has been topped by Singapore with a 0.925 score.
122 countries adopts global treaty banning nuclear weapons regarding international security threats
A global treaty banning nuclear weapons was adopted at the United Nations on Friday despite opposition from nuclear powers Britain, France and the United States which said it disregards the reality of dealing with international security threats such as North Korea.
The treaty was adopted by a vote of 122 in favor with one country — NATO member The Netherlands — voting against, while Singapore abstained.
None of the nine countries that possess nuclear weapons —
1. The United States,
8. North Korea and
took part in the negotiations or the vote.
Even Japan — the only country to have suffered atomic attacks, in 1945 — boycotted the talks as did most NATO countries.
MRP will be the sole price decider all over the country from January 1, 2018 by the amendment of The Consumer Affairs Ministry
As per the amended Legal Metrology rules for packaged commodities, which will come into effect from the next calendar year, the Centre has clarified that the retail sale price shall be the maximum retail price (MRP) inclusive of all taxes, with the provision to round off the price to the nearest rupee or 50 paise.
Further, to curb the possibility of any vendor charging differential prices for the same product, a new legal provision has been inserted that no person shall declare different MRPs on an identical pre-packed commodity.
The new norms also require sellers to enhance the size of letters and numerals for making declarations about the packaged goods, such as their “best before date, month and year” to indicate their shelf life, for making it easier for consumers to read vital information.
India opted for new & updated 2016 anti-hijacking law which prescribes capital punishment in the event of death of “any person”.
The 2016 Anti-Hijacking Act replaces a 1982-vintage law, according to which hijackers could be tried only in the event of death of hostages, such as flight crew, passengers and security personnel.
In the new law, the definition has been expanded to include death of “security personnel on board” or “ground support staff” as well.
The new law, which has come into effect after its notification on July 5, includes several acts within the definition of hijacking including making a threat, attempts or abatement to commit the offence.
Government to set up Skill Development Centres ‘Garib Nawaz’ for minorities in 100 districts of the country to offer employment-oriented training.
The government will also proffer marriage assistance to the tune of Rs. 51,000 (per head) to families of girl students who complete their graduation availing the Centre’s Begum Hazrat Mahal scholarship.
The decisions were taken during a meeting of the governing body of the Maulana Azad Education Foundation (MAEF), a non-political and non-profit social services organisation funded by the ministry.
The other cities where the centres will be set up include ;
3. Allahabad and
4. Shahjahanpur in Uttar Pradesh,
5. Mumbai and
6. Nagpur in Maharashtra,
8. Indore in Madhya Pradesh,
9. Mewat and
10. Panipat in Haryana,
11. Patna and
12. Kishanganj in Bihar, &
13. Ranchi and
14. Giridih in Jharkhand.
Punjab approved new transport policy to streamline the issues of permits and licences across commercial and private transport vehicles
It also abolished the system of district transport officers (DTO) and restructuring the transport department.
The cabinet decided to set up a special task force of the vigilance department and the state police to crack down on all illegally plying buses.
Once the scheme is implemented, permits of 5,432 buses indulging in extension/diversion of routes and another 6,700 minibuses, besides 78 integral luxury coaches, will be cancelled and allotted afresh.
Bengal Government to celebrate Kanyashree Utsav on July 25 which is a flagship program of the state government.
The day will witness representatives from all corners of the state coming together to congratulate accomplished Kanyashrees, who will be felicitated by the Chief Minister Mamata Banerjee herself.
Students who have benefited from the Kanyashree Scheme from every district will participate in the celebratory event of this flagship scheme.
It has so far brought 40 lakh girls under its umbrella. The scheme aims at effectively empowering girls through far-sighted, holistic and all-round development, stressing on ending early marriage and opening up options for young women.
Daily Current Affairs for 8 Jul, 17.
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