1. Karur Vysya Bank wins best banker award
i. Karur Vysya Bank has won Best Banker Growth-Mid Sized award in the second edition of The Sunday Standard Best Bankers’ Awards 2013.
ii. K. Venkataraman, Chief Executive, KVB, received the award on behalf of the bank from Minister for Urban Development Mr Kamal Nath in New Delhi .
2. RBI: Poor can also open zero balance account in foreign banks
i. People belonging to weaker sections in the country can also open zero balance accounts in foreign banks such as HSBC, Citibank and Standard Chartered Bank and avail free ATM-cum-debit card facility.
ii. The Reserve Bank on Wednesday said its 'Basic Savings Bank Deposit Account (BSBDA) guidelines are applicable to "all scheduled commercial banks in India, including foreign banks having branches in India".
iii. The RBI said there is no requirement for any initial deposit for opening such accounts. As per the central bank's guidelines, the BSBDA should be considered a normal banking service available to all and the account should not have the requirement of keeping any minimum balance.
iv. "Banks are advised not to impose restrictions like age and income criteria of the individual for opening BSBDA," RBI said.
v. However, holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any other savings account in that bank.
NOTE: i. Under the BSBDA scheme, any individual, including poor or those from weaker section of the society, can open zero balance account in any bank.
ii. The services available free in BSBDA scheme include deposit and withdrawal of cash; receipt/credit of money through electronic payment channels or by means of deposit / collection of cheques at bank branches as well as ATMs cards.
iii. If a customer has any other existing savings account in that bank, he or she will be required to close it within 30 days from the date of opening a BSBDA.
iv. The aim of introducing BSBDA is part of the efforts of RBI for furthering financial inclusion objectives. There are 43 foreign banks with over 330 branches operating in the country.
3. India’s GDP growth likely to be at 5.2% in 2013: UNCTAD
i. The Indian economy is likely to grow at 5.2 per cent in 2013 calendar year on the back of rising domestic demand, says a report by UN agency UNCTAD.
ii. In its release of Trade and Development Report 2013, the United Nations Conference on Trade and Development (UNCTAD) said the Indian economy is expected grow at 5.2 per cent in calendar year 2013 as against 3.8 per cent in 2012.
iii. UNCTAD’s India growth forecast at 5.2 per cent for 2013 is however lower than the International Monetary Fund’s projection of 5.6 per cent for the year.
iv. In case of China, the UNCTAD report said, the growth rate is expected to moderately decline to about 7.6 per cent in 2013 from 7.8 per cent last year.
v. Developing countries may grow at a rate of 4.5-5 per cent in 2013.
Note: i.RBI recently in its quarterly review has scaled down the growth projection for the current fiscal to 5.5 per cent from its earlier estimate of 5.7 per cent.
ii. Last month, the Asian Development Bank lowered its growth projection for India to 5.8 per cent in calendar 2013 from 6 per cent estimated earlier, citing the slow progress of economic reforms.
iii. International Monetary Fund outlook projects India’s economic growth at 5.6 per cent this year.
4. UN Human Rights forum begins in Beijing
i. The two-day forum will focus on constructing an environment for sustainable human rights development.
ii. Over 100 officials, diplomats and human rights experts from the UN and 33 countries are taking part in the sixth Beijing Forum on Human Rights that began on Thursday.
iii. Its topics will cover rule of law, the internet and protection of human rights and international cooperation in human rights issues.
NOTE: i. The annual event was first held in 2008 and has become a key platform for human rights exchanges among different countries, ethnicities and cultures.
ii. This year's forum is being co-organised by the China Society for Human Rights Studies, the largest human rights academic group in the country, and the China Foundation for Human Rights Development.
5. ICICI Bank launches chip-based credit card
i. ICICI Bank Ltd, India’s largest private sector bank, has launched ICICI Bank Carbon in partnership with Visa.
ii. “The ICICI Bank Carbon will be offered to select ICICI Bank credit card members only. It is available at an inaugural one-time fee of Rs 1,000 plus applicable service tax,” the bank said in a statement.
iii. The member initially needs to generate a CodeSure PIN on the ICICI Bank Web site before using the card. This is a one-time activity.
iv. The PIN can instantly help generate a one-time-passcode (OTP) on the card plastic itself. The display panel on the back of the card then shows this OTP which can be used to authenticate online transactions.
v. In case of a loss of the physical card, it cannot be used for online transaction without the CodeSure PIN, the bank said.
vi. The card provides reward points, complimentary movie tickets, access to culinary treat programme, access at select airport lounges in India and complete waiver of 2.5 per cent fuel surcharge at HPCL fuel stations.
vii. Powered by Visa CodeSure, it provides EMV chip technology with embedded microchip that can minimise the risks of skimming and counterfeit of cards, especially for online shopping.
6. Central Bank, Suvidhaa launch a channel card for retailers
i. Central Bank of India and Suvidhaa today launched a prepaid card for retailers that will enable people to pay their utility bills, taxes and book tickets by going to the nearest Suvidhaa outlets.
ii. The Suvidhaa retailer will charge a small service fee over and above the bill amount.
iii. The card can be used by any customer, including those who do not have a bank account or an email id.
iv. There are over 65,000 Suvidhaa retailers across 2,800 towns in India.
7. Nobel laureate Ellen Johnson Sirleaf conferred with Indira Gandhi Prize
i. Liberian President and Nobel laureate Ellen Johnson Sirleaf was conferred the prestigious Indira Gandhi Prize for Peace, Disarmament and Development by President Pranab Mukherjee on Thursday.
ii. 74-year-old Sirleaf, the first democratically elected women Head of State of any African nation, will be presented with the award at a function at Rashtrapati Bhavan.
iii. "The Indira Gandhi Prize for Peace, Disarmament and Development was instituted in the name of former Prime Minister Late Indira Gandhi. It celebrates the values that she stood and fought for in the service of our nation and its people," a statement from Rashtrapati Bhavan said.
iv. The winners of the prize were recognised by Nobel Prize committee for their "non-violent struggle for the safety of women and for women's rights to full participation in peace-building work".
v. The 2011 Nobel Peace prize winner is on a state visit in New Delhi.
8. Ashok Vemuri appointed as the President and CEO of iGate Corporation
i. Ashok Vemuri was appointed as the President and CEO of the iGate Corporation on 11 September 2013.
ii. His term to the office will commence from 16 September 2013. On the other hand, he will also serve the board of the company.
iii. iGate Corporation is a software services company headquartered in Fremont, California.
iv. Earlier, Ashok Vemuri resigned from Infosys as the head of its American business and Global Head of Manufacturing and Engineering Services as well as its board member
v. He was the man behind the establishment of the financial services and insurance vertical of Infosys. He ran the process for a decade’s time
9. Afhanistan beat India to win SAFF title
i. Afghanistan prevailed to emerge Champions of the 2013 SAFF Championship at the Dasrath Stadium in Kathmandu.
ii. The Afghans, who won their maiden SAFF trophy exacted a sweet revenge for their humiliating 0-4 loss against the same opponents in New Delhi two years back.
iii. For Afghanistan, it was a moment they had waited for two years having found the defeat in Delhi a hard to swallow.
iv. India begun with a specific strategy -- stretching the playing arena as much as possible and attacking from the flanks.
v. Bullets whizzed through the air in the Afghan capital Wednesday night, this time in celebration rather than anger: Afghanistan had just won its first international trophy in football.
vi. The Afghans, who were a founding member of the Asian Football Confederation in 1954, have a long football history but only recently re-emerged on the world scene after decades of war and insurgency.
vii. Afghans began playing football about 90 years ago, and the country's national federation was founded in 1922. Afghanistan joined FIFA in 1948.
10. Puneet Talwar appointed as the Assistant Secretary of State for Political Military Affairs
i. Puneet Talwar, an Indo American was nominated as the Assistant Secretary of State for Political-Military Affairs by the US President Barack Obama on 11 September 2013.
ii. Political Military Affairs is the Department of State's principal link to the Department of Defence. He is the second Indian-American to be nominated as the Assistant Secretary position in the State Department.
iii. In July, Nisha Desai Biswal became the first person of Indo-American origin to be nominated as the Assistant Secretary of State for South and Central Asia.
iv. He has served as a senior professional staff member on the committee on Foreign Relations of the United States Senate (SFRC) from 2001 to 2009
11. Shuttler Kashyap rises to World No.13
i. Parupalli Kashyap rose a place to 13th in the Badminton World Federation (BWF) rankings released Thursday.
ii. Other Indian men’s singles shuttlers in the top-25 include R.M.V. Gurusaidutt, who retained No.20, and Ajay Jayaram, who also rose a place to 23.
iii. In the women’s singles, Saina Nehwal and P.V. Sindhu retained the No.4 and No.10 positions.
iv. No Indian figures in the top-25 of the men’s, women’s or mixed doubles.