Current Affairs - Finance

LIC's board approved acquiring a 10% stake in a company promoted by the National Housing Bank (NHB) for residential mortgage-backed securities through equity contribution in one or more tranches.

Zerodha Fund House introduced the Growth Liquid ETF, emphasizing low credit risk and interest rate risk in short-term debt products. The fund mirrors the Nifty 1D Rate Index, tracking returns from overnight market lending.

The groundbreaking UPI-PayNow linkage, announced by the NPCI, has opened avenues for real-time remittances from Singapore to India. Major UPI and bank apps, such as SBI, Axis, ICICI, BHIM, PhonePe, and Paytm, have been enabled for this service. This collaboration marks a significant advancement in facilitating instant, secure, and cost-effective cross-border transactions between India and Singapore.

The Japan International Cooperation Agency (JICA) has been a crucial financial contributor to the Atal Setu project, Mumbai, covering 80% of the total cost. This support underscores the collaborative efforts between India and Japan in enhancing infrastructure, with the remaining project cost shared by the state and central governments.

SBI, represented by Chief General Manager Shantanu Pendsey, signed an MoU with DAY-NRLM for the 'Svyam Siddha' financial product, aiming to facilitate enterprise financing for self-help group (SHG) women in rural India.