Current Affairs - Finance

HDFC Bank launched the XpressWay digital platform for swift loans. XpressWay is a cutting-edge digital platform that offers a wide range of banking products and services, including loans, credit cards, and savings accounts. It is designed to provide customers with a rapid and hassle-free banking experience.

Kotak Mahindra Bank has received the Reserve Bank of India's (RBI) approval to acquire a 100% stake in micro-lender Sonata Finance valued at approximately Rs 537 crore. This acquisition is expected to help Kotak Mahindra Bank expand its reach in the microfinance sector and offer a wider range of products and services to its customers.

The ADB's capital reforms will unlock $100 billion in funding for Asia and the Pacific over the next decade. This funding will be used to support the region's development efforts, including addressing climate change and other challenges.

LIC presented a dividend cheque of ₹1,831.09 crore to Finance Minister Nirmala Sitharaman, representing the government's share for the fiscal year 2022-23, which was approved by LIC's shareholders.

Rajnish Kumar, the former Chairman of the State Bank of India (SBI), has been appointed as the Chairman of Mastercard India, highlighting Mastercard's dedication to strengthening its presence in India's financial sector.