All Latest News
CURRENT AFFAIRS BOOSTER : 10th MAY 2023
Current Affairs
10th May 2023
NATIONAL AFFAIRS
1) MoHUA and MoR jointly ink MoU with JICA for Project SMART
On May 8, 2023, a Memorandum
of Understanding (MoU) has been inked between the Ministry of Housing &
Urban Affairs (MoHUA) and Ministry of Railways (MoR) with Japan International
Cooperation Agency (JICA) for ‘Station Area Development along
Mumbai-Ahmedabad High Speed Rail (Project-SMART)’.
·
It was inked for four High
Speed Rail Stations viz. Sabarmati, Surat in Gujarat and Virar and Thane in Maharashtra;
out of 12 stations in-route.
·
Surat, Virar and Thane are
Green fields while Sabarmati is a Brown field development.
What is Project SMART?
Its goal is to improve the areas around the Mumbai-Ahmedabad High-Speed Railway
(MAHSR) stations to make it easier for commuters, other people and
businesses to access them more conveniently.
·
It will also encourage
economic growth in these areas.
·
The project will also help the
government and other authorities to better plan, develop, and manage the places
near the stations.
Note:
i.MoHUA, Governments of Gujarat,
Maharashtra and JICA are organizing a series of Seminars and field visits for
the Project–SMART in Delhi, Ahmedabad (Gujarat) and Mumbai (Maharashtra). The
first seminar was organized at Nirman Bhawan, New Delhi on May 8,
2023.
ii.Officers from Japan Embassy, JICA, MoR, National High Speed Rail
Corporation Limited, MoHUA, Town and Country Planning Organisation (TCPO)
deliberated during the seminar.
iii.This will contribute to the preparation of ‘Station Area Development
Plans’ for Sabarmati, Surat, Virar and Thane HSR Stations and model handbook,
containing experiences and methodologies adopted in Japan, India and other
countries for Transit Oriented Development (TOD) and Station Area Development.
About Japan International
Cooperation Agency (JICA):
President– Akihiko Tanaka
Headquarters– Tokyo, Japan
2) PMJJBY, PMSBY & APY Completes 8 Years; Recorded 16.2 crore, 34.2 crore & 5.2 crore Enrolments
9th May 2023 marks the 8th
anniversary of the three major social security (Jan Suraksha) schemes, Pradhan
Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima
Yojana (PMSBY) and Atal Pension Yojana (APY).
·
Union Minister of Finance
Nirmala Sitharaman stated that till 26th April 2023, 16.2 crore, 34.2 crore and
5.2 crore enrolments have been done under PMJJBY, PMSBY & APY
respectively. The total enrollment under all three schemes are 55.6
crore.
Backdrop: The two low-cost insurance
schemes of PMJJBY and PMSBY and the guaranteed pension scheme of APY were
launched by Prime Minister Narendra Modi on May 9, 2015, from Kolkata,
West Bengal.
About the Schemes in Brief:
·
PMJJBY is an insurance scheme of the Ministry of Finance,
offering life insurance cover for death due to any reason. It is a
one-year cover, renewable from year to year. All individual account holders of
participating banks/ Post offices in the age group of 18 to 50 years are
entitled to join. It offers a renewable one-year term life cover of Rs 2
Lakh
·
PMSBY is an Accident Insurance Scheme offering accidental death
and disability cover for death or disability on account of an accident.
Individuals in the age group of 18-70 years having a savings bank or a post
office account are entitled to enrol under the scheme.
·
APY is an
old-age income security scheme to addresses the longevity risks among workers
in the unorganized sector and encourages the workers to voluntarily save for
their retirement.
About Ministry of Finance:
Union Minister – Nirmala Sitharaman (Rajya Sabha- Karnataka)
Minister of State (MoS) – Pankaj Chaudhary; Dr. Bhagwat Kishanrao Karad
3) Dr Bharati Pravin Pawar launches Phase-III of Thalassemia Bal Sewa Yojana
The 3rd phase of
Thalassemia Bal Sewa Yojana (TBSY) was launched by the Minister
of State (MoS) Dr Bharati Pravin Pawar, Ministry of Health and
Family Welfare (MoHFW) to commemorate the World Thalassemia Day on May 8, 2023.
·
TBSY is an imitative of MoHFW
and which is being supported by Coal India Limited (CIL) as part of
their Corporate Social Responsibility (CSR).
·
The Minister also
launched Thalassemia Bal Sewa Yojana Portal and released the Standard
Treatment Workflow for Sickle Cell Disease, developed by ICMR (Indian
Council of Medical Research), during the event.
About TBSY:
MoHFW has been implementing the TBSY since 2017 under the National Health
Mission (NHM) to treat Thalassemia, which is an inherited blood disorder that
causes a body to have less hemoglobin than normal. Its second phase was
completed in March 2023.
·
Hematopoietic Stem Cell
Transplant (HSCT) program, a CIL’s CSR-funded initiative, is aimed
to provide a one-time cure opportunity to underprivileged Thalassemia patients
who have a matched sibling donor but do not have the financial resources to
cover the cost of the procedure.
About 3rd phase of TBSY:
It will continue to provide financial assistance for a package cost of 10
lakhs per HSCT, directly transferred from CIL to the institutions
performing HSCT.
· The program has empanelled 10 reputed hospitals across India, including AIIMS, New Delhi; CMC Vellore; Kokilaben Dhirubhai Ambani Hospital, Mumbai; MCGM Hospital, Mumbai; PGIMER, Chandigarh; Rajiv Gandhi Cancer Institute, New Delhi; SGPGI, Lucknow; Narayana Hrudayalaya, Bangalore; CMC, Ludhiana and Tata Medical Centre, Kolkata among others.
4) India Post, CAIT and Tripta Technologies signed MoU for Logistics Services
On 9th May 2023, a tripartite
Memorandum of Understanding (MoU) was signed between India Post (a part of the
Department of Posts under the Ministry of Communications), Confederation of All
India Traders (CAIT) (an apex body of trading community of India), and Tripta
Technologies Private Limited for logistics services.
·
The MoU was signed in the
presence of Devusinh Chauhan, Minister of State (MoS) for Communications at
National Media Centre, New Delhi, Delhi.
·
The MoU will benefit small and
medium traders as they will be able to use India Post as a logistics service
provider across the country.
·
This MoU is a significant
milestone for taking e-commerce to small towns and rural areas and can benefit
thousands of traders.
Note: Tripta Technologies is Facilitated by the
Confederation of All India Traders (CAIT)
Benefits of the Memorandum of Understanding (MoU):
i. The Tripartite MoU between India Post, CAIT and Tripta Technologies
will provide shipping and last-mile delivery services to CAIT’s strong trader
base and small and medium business in the unorganised sector.
ii. This initiative will streamline the parcel operations of India Post.
iii. It will enable delivery of goods for small businesses, by
leveraging the vast network of India Post.
Additional information:
i. The Government of India has transformed the India Post by expanding
service areas through technology induction.
ii. Banking and insurance services have been initiated in India post
along with financial inclusion services.
About India Post:
Director General (Postal Services)- Alok Sharma
Headquarters– New Delhi, Delhi
About Confederation of All India Traders (CAIT):
Chairman– Mahendra Shah
President- B.C.Bhartia
Secretary General– Praveen Khandelwal
Headquarters– New Delhi, Delhi
5) Union Minister Sarbananda Sonowal receives 1st Indian Cargo Ship at the Sittwe Port, Myanmar
On 9th May 2023, Union
Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways
(MoPSW), received the 1st Indian cargo ship at Sittwe Port in Myanmar (formerly
Burma) in the presence of Admiral Tin Aung San, Myanmar Deputy Prime Minister
(Dy PM) and Minister of Transport and Communications.
·
He received the first Indian
Cargo ship while inaugurating the Sittwe Port in Rakhine State, Myanmar, along
with Admiral Tin Aung San.
·
The inauguration of Sittwe
Port initiated the regular transit of cargo ships between Syama Prasad
Mookerjee Port in Kolkata (West Bengal), India to Sittwe Port in Rakhine,
Myanmar.
· Sittwe Port’s opening will enhance bilateral and regional trade as well as contribute to the local economy in Rakhine, Myanmar. Sittwe port development is part of the Kaladan Multimodal Transit Transport Project (KMTTP).
BANKING & FINANCE
6) AU Small Finance Bank Partners with RuPay to Offer Cashback RuPay Credit Card
On May 9, 2023, the AU
Small Finance Bank (SFB) partnered with RuPay to introduce the
Business Cashback RuPay credit card, a solution tailored to meet the financial
requirements of self-employed (i.e. Micro, Small And Medium-Sized Enterprises
(MSMEs)) customers and promote financial inclusion.
·
The bank intends to provide
multiple range of benefits to small businesses through this credit card.
Key People: The Credit Card was launched
in the presence of Dilip Asbe, Chief Executive Officer (CEO) of National
Payments Corporation of India (NPCI) and Sanjay Agarwal, Managing Director (MD)
& CEO of AU SFB.
Benifits:
·
The card provides benefits
like up to 2% cashback, 48 days of interest-free credit, and instant loans.
·
It also offers fire insurance,
burglary, and housebreaking coverage, etc. and simplifies the financial
operations of businesses.
·
The credit card also provides
lifestyle and travel benefits.
About AU Small Finance Bank
Ltd.
MD & CEO – Sanjay Agarwal
Establishment – 1996
Headquarters – Jaipur, Rajasthan
7) Kotak Mahindra Bank becomes India’s 1st to Relocate Mauritius Domiciled Fund to GIFT IFSC
Mumbai (Maharashtra)-based
Kotak Mahindra Bank Limited has become India’s 1st to relocate Mauritius
domiciled fund to Gujarat International Finance Tec-City (GIFT-city), Gujarat.
On 6th May 2023, it successfully re-domiciled Alchemy India Long Term Fund from
Mauritius to GIFT City, India’s 1st International Financial Services Centre
(IFSC).
·
Kotak Bank issued the 1st ever
Foreign Portfolio Investment (FPI) licence to Alchemy’s Fund
incorporated in GIFT and registered with the International Financial Services
Centres Authority(IFSCA) for relocating from its original jurisdiction.
·
This is the 1st FPI license
issued by a custodian bank or designated depository participant (DDP) in India,
to a fund incorporated in GIFT City, to relocate an existing fund.
Note: In June 2023, Alchemy India Long Term Fund will complete 15 years of operation.
ECONOMY & BUSINESS
8) Fitch Ratings has lowered India’s 2023-24 GDP forecast to 6% from 6.2%
Fitch Ratings has lowered
India’s 2023-24 (i.e. Financial Year 2023-24 (FY24)) GDP (Gross Domestic
Product) growth forecast to 6% from 6.2% of its earlier projection, amid
increased inflation and interest rates along with subdued global demand.
·
The projection for FY25 also
decreased to 6.7% from 6.9% projected earlier.
·
India’s FY24 growth will be
slower than the 7% expected in FY23, as weak domestic and global demand is
induced.
Highlights:
i.India’s long-term foreign-currency Issuer Default Rating (IDR) is
projected at ‘BBB-‘ with a stable outlook.
·
This rating indicates that
expectations of default risk are currently low and payment capacity to meet
financial commitments is considered adequate, but adverse business or economic
conditions are more likely to impair this capacity.
ii.India’s headline inflation will decline, but remain
near the upper end of the Reserve Bank of India’s (RBI) 2%-6% target band,
averaging 5.8% in FY24 from 6.7% in FY23.
·
Core inflation fell to 5.7% in
March 2023, the lowest since July 2021.
iii.The 2022-23 current account deficit projection for
India slashed to 2.3% of GDP from 3.3% in December 2022.
·
It will narrow further to 1.9%
deficit in 2023.
iv.The central government will meet its fiscal deficit
target of 5.9% of GDP in 2023-24 from 6.4% in 2022.
·
States deficits will rise from
2.7% of GDP estimated in FY23 to 2.8% of GDP in FY24.
·
General government deficit
(excluding divestments) will narrow to a still-high 8.8% of GDP in FY24 from
9.2% in FY23.
v.India’s general government debt remains elevated at
82.8% of GDP in FY23 and is likely to remain around 83% of GDP even in FY28.
vi.The private sector will show stronger investment growth as corporate
and bank balance sheets are improving. However, risks still remain due to
India’s low labour force participation rates and an uneven reform
implementation record.
Note: India will be one of the fastest-growing nations bolstered by
resilient investment prospects.
AWARDS & RECOGNITIONS
9) 2023 Laureus World Sports Awards: Lionel Messi & Shelly-Ann Fraser-Pryce win top awards
Lionel Messi, Argentine professional
footballer and forward of Ligue 1 club Paris Saint-Germain(PSG), was honoured
with the Laureus World Sportsman Of The Year 2023 at the 2023
Laureus World Sports Awards.
·
Shelly-Ann Fraser-Pryce, Jamaican track and field sprinter, won the Laureus
World Sportswoman Of The Year 2023
·
This is the 2nd time
that Lionel Messi has been honoured with the Laureus World Sportsman Of The
Year Award.
The winners of the 2023
Laureus World Sports Awards, the most prestigious honours in sport, were
honoured in the ceremony held on 8th May 2023 in Paris, France.
·
Laureus Awards 2023 marks the
24th edition of the Laureus World Sports Awards.
· The 2023 Awards will honour the most memorable sporting performances of 2022.
10) 2023 Pulitzer Prizes in Journalism; Books, Drama and Music: Associated Press won Journalism Prize under Public Service
On 9th May 2023, the winners
of the 2023 Pulitzer
Prizes in Journalism; Books, Drama
and Music; and Special Citations were announced.
·
Associated Press won the 2023
Pulitzer Prize in Journalism under the Public Service category.
·
Demon Copperhead, by Barbara
Kingsolver (Harper) and Trust, by Hernan Diaz (Riverhead Books) won the 2023
Pulitzer Prize in Books, Drama and Music under the Fiction category
·
The Pulitzer Prize,
administered by Columbia University in New York, United States of America(USA),
is considered the most prestigious prize in US journalism.
·
Categories: The Pulitzer Prize recognises the work in 22 categories,
i.e. 15 journalism categories; seven arts categories and one special citation.
Gold Medal and Cash Prize:
·
Out of the 22 categories, Only
the winner in the Public Service category of the Journalism competition is
awarded a gold medal.
·
The Public Service prize is
always awarded to a news organization, not an individual, although an
individual may be named in the citation.
· In 21 other categories’ winners receive a US$15,000 cash award and a certificate.
APPOINTMENTS & RESIGNATIONS
11) Accenture appoints Ajay Vij as India MD & Sandeep Dutta as lead for
India Market Unit; Rekha Menon to Retire
Accenture has appointed Ajay
Vij to the newly created role of Country Managing Director (MD) and Sandeep
Dutta will take over as the lead for its India Market Unit.
Rekha Menon, Chairperson and Senior Managing Director of Accenture in
India is set to retire on 30th June 2023 after a career spanning 2 decades at
the company. The primary responsibilities of the chairperson will now be
undertaken by the new appointees.
·
Ajay Vij, country managing
director, would expand his current responsibilities as the Corporate Services
& Sustainability lead for India to provide overall leadership and promote coordinated
decision-making for important company priorities.
· Sandeep Dutta, the India Sales Lead, will now oversee Accenture’s India Market Unit, serving as its India business lead responsible for developing business and operations in the domestic market, focusing on growth, market differentiation, and clients.
ACQUISITIONS & MERGERS
12) Groww completes Rs 175 Cr Acquisition of Indiabulls’ Mutual Fund Business
Nextbillion Technology Private
Limited, doing business as Groww – an investment platform, has acquired the Mutual
Fund business of Indiabulls Housing Finance Loans (IBHFL) for Rs.175.6
crore after receiving the necessary approvals.
·
In May 2021, Groww signed an
agreement with IBHFL to acquire the entire stake of IBHFL in its mutual fund
subsidiaries Indiabulls Asset Management Company Limited (IAMCL) and Indiabulls
Trustee Company Limited (ITCL), trustee of IAMCL.
Highlights:
i. The Rs.175.6 crore agreement also included a cash equivalent of Rs.
100.62 crores, to be invested by Groww.
·
In September 2021, the
transaction, received approval from the competition regulator Competition
Commission of India (CCI).
ii.The closing date of the transaction was May 3 2023,
and Groww doesn’t have any control or shareholding in IAMCL and ITCL subsequent
to the closing date.
iii. The sale of IAMCL was limited only to the mutual fund part of the
business.
iv. The Alternate Investment Fund (AIF) and Portfolio Management Service
(PMS) businesses will be separated from the existing IAMCL structure, and
remain under IBHFL.
Additional Information:
i. With this acquisition, Tiger Global and Sequoia (Investors of Groww)
backed Groww, will now be able to launch and manage its own mutual funds.
ii. Groww has raised $393 million till date, and was last valued at $3
billion after raising $251 million in October 2021 in a round led by ICONIQ
Growth, a tech focused direct investment effort that is affiliated with ICONIQ
Capital (an American wealth management and investment firm).
About Groww:
CEO&Co-founder– Lalit Keshre
Headquarters– Bengaluru, Karnataka
Founded in– 2016 (started operations in 2017)
SPORTS
13) Asian Weightlifting Championships Jinju 2023: India Finishes Campaign with 3 Silver Medals
Indian weightlifters concluded
the Asian Weightlifting Championships Jinju 2023 in Jinju, South Korea, with a
total of 3 silver medals. Asian Weightlifting Championships Jinju 2023 was held
from 03 to 13 May 2023 in Jinju, South Korea.
·
Bindyarani Devi, hailing from
Manipur, won 2 silver medals in overall and clean & jerk under the
Women’s 55kg category.
·
On 7th May 2023, Jeremy
Lalrinnunga from Aizawl, Mizoram, won silver in snatch under the men’s 67kg.
Note: The Asian Weightlifting Championships 2023 will
run till May 13 but India doesn’t have any representation in any of the
remaining categories.
Asian Weightlifting Championships 2023: India’s medal winners
|
Women’s |
||
|
Name |
Category |
Medal |
|
Bindyarani Devi (women’s 55kg
event) |
Overall |
Silver |
|
Clean and Jerk |
||
|
Men’s |
||
|
Jeremy Lalrinnunga (Men’s 67kg
event) |
Snatch |
Silver |
Note:
A total of 6 Indian weightlifters competed at the continental championships,
which is second in the series of qualifying events for the Paris 2024 Olympic
Games.
Bindyarani Devi:
On 6th May 2023, India’s Bindyarani Devi (24-year-old) clinched a Silver
medal in the women’s 55kg category with a combined lift of 194kg (snatch
83kg and 111kg in clean & jerk) at the Asian Weightlifting Championships
2023 in Jinju, South Korea. Bindyarani Devi also won the silver in the Clean
and Jerk section.
·
China’s Chen Guan Ling
won the Gold medal with a combined lift of 204 kg (snatch 90kg + clean
& jerk 114kg).
·
Vietnam’s Vo Thi Quynh Nhu
bagged the Bronze with a combined lift of 192kg (snatch 88kg + clean
& jerk 104kg).
Jeremy Lalrinnunga:
On 7th May 2023, India’s Jeremy Lalrinnunga (20 years old) won a Silver medal
in the Snatch section under the Men’s 67 Kg category of the competition
with a lift of 141kg but was unable to tally an overall total since he was
unable to lift the weight in each of his three attempts at the clean and jerk.
About the Asian Weightlifting Championships:
i. The Asian Weightlifting Championships is a weightlifting championship
organised by the Asian Weightlifting Federation for weightlifters from Asian
countries.
·
It has been held since 1969
for men and 1988 for women.
ii. In 2008, the championships served as the official qualification for Asian competitors to qualify for the 2008 Beijing Olympics.
OBITUARY
14) Sahitya Akademi Awardee & Bengali author Samaresh Majumdar Passed away
On 8th May 2023, the Sahitya Akademi
Award winner and popular Bengali writer Samaresh Majumdar
passed away at the age of 79 in Kolkata, West Bengal. He was born on March 10,
1944 in Jalpaiguri, West Bengal.
About Samaresh Majumdar’s writing:
i. SamareshMajumdar made his writing debut with the novel titled “Dour”
(Run), which was Published in “Desh” (a Bengali literary magazine) in 1976.
·
The Dour novel was later
made into a film in 1979.
ii. His famous Animesh quartet (a series of four
novels) of Uttoradhikar, Kalbela, Kalpurush, and Mousalkal is now considered a
modern classic.
·
He won the Sahitya Akademi
Award for the second novel of the series, ‘Kalbela’, in 1984, which was set
against the backdrop of the Naxalite movement of West Bengal in 1960s and
1970s.
·
It was later made into a film
of the same name by director Gautam Ghosh in 2009.
iii. He was also credited for his creative character
‘Arjun’ (a detective cum science fiction character) in the detective novels
“Adventures of Detective Arjun”.
·
The 2013 film “Arjun –
Kalimpong E Sitaharan” is based on the novels – Sitaharan Rahasya and
Khunkharapi by Samaresh Majumdar
iv. He published a Novel titled ‘BunoHaansh’ in PujabarshikiAnondolok,
which was later made into a Bengali film named Buno Haansh in 2014.
Other Awards:
i. SamareshMajumdar got BFJA (Bengal Film Journalists’ Association
Awards), Dishari and ChalachitraPrasar Samiti award in 1982 for Best
Script Writer.
ii. He got the Bankim Puroshkar award (the highest award given by the
Government of West Bengal) in 2009 for contribution to Bengali fiction
“Kolikataye Nobokumar”.
iii. He was awarded the Banga Bibhushan Samman, a title
instituted by the West Bengal government to honour the services of
personalities in various fields in 2018.
BOOKS & AUTHORS
15) Ajai Chowdhry Authored a New Book Titled “Just Aspire”
Ajai Chowdhry, one of the six
founding members of HCL (Hindustan Computers Limited), authored a new book titled
“Just Aspire: Notes on Technology, Entrepreneurship and the Future”,
published by Harper Business, an Imprint of HarperCollins.
·
“Just Aspire”, a motivational
book, that focuses on the importance of having a positive mindset, setting
goals, and taking action to achieve them.
· This book talks about the journey of a small-town boy (Ajai Chowdhry) who turned into a Chief Executive Officer (CEO) of a global company.
IMPORTANT DAYS
16) Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the Second World War – 8-9 May 2023
The United Nations(UN)
annually marks the 8th and 9th of May as the “Time of Remembrance and
Reconciliation for Those Who Lost Their Lives during the Second World War” to
pay tribute to the victims of the Second World War(WWII).
Significance of 8th May:
i.On May 8, 1945, World War II Allies – the United Kingdom(UK), the
United States of America(USA), and the Union of Soviet Socialist Republics
(USSR), accepted the unconditional surrender of Nazi Germany.
Background:
i.The United Nations General Assembly(UNGA) adopted the resolution
A/RES/59/26 on 22nd November 2004 and declared the 8-9 May of every year as the
Time of Remembrance and Reconciliation for Those Who Lost Their Lives during
the Second World War.
ii.The UNGA invited all the members to observe annually on either one or
both days to pay tribute to all the victims of the 2nd World War.
17) World Portuguese Language Day 2023 – May 5
World Portuguese Language Day is annually observed across
the globe on May 5 to highlight the important role the Portuguese
language plays in maintaining human civilization and culture.
i. Since 2005, the Community of Portuguese-Speaking Countries (CPLP)
Member States have observed May 5 as a day of the Portuguese language and Lusophone
culture.
·
On their initiative, the CPLP
Member States also organised the 1st celebration of the Portuguese language at
the United Nations Educational, Scientific, and Cultural Organisation (UNESCO)
headquarters (Paris, France) in 2006.
ii. The UNESCO General Conference’s 40th session, held
in 2019, proclaimed May 5 of every year as “World Portuguese Language Day”.
iii. The 1st ever World Language Day was observed on 5th May 2020.
About the United Nations Educational, Scientific and Cultural
Organization (UNESCO):
Director-General- Audrey Azoulay
Headquarters- Paris, France
Establishment- 1945 (came into force in 1946)
Members- 193 Members and 11 Associate Members.
STATE NEWS
18) Max Life, IIA join hands to offer Life Insurance Access to 11 lakh MSME workforce in UP
Max Life Insurance Company
Ltd. (Max Life) signed a strategic partnership with the Indian
Industries Association (IIA) to provide life insurance plans to the MSME (Micro,
Small & Medium Enterprises) sector’s workforce in Uttar Pradesh (UP).
Note: Max Life is the appointed lead insurer for the state of Uttar
Pradesh under IRDAI’s State insurance plan. Now, Max Life aims to enhance
accessibility and drive affordable insurance penetration across UP.
What is in the MoU?
With this partnership, Max Life will be positioned as IIA’s preferred partner,
thus will utilize its extensive network across industrialized districts, to
offer life insurance access to more than 11 lakh MSME workforce affiliated with
IIA, their families in the State, and to reach underserved population in UP.
·
These activities will be
undertaken with Sana Insurance Brokers Pvt. Ltd. as the enrolment
partner to engage with the MSME workforce.
About Max Life Insurance
Company Ltd. (Max Life):
It is a joint venture between Max Financial Services (part of Max Group) and
Axis Bank.
Managing Director & Chief Executive Officer– Prashant Tripathy
Headquarters– Gurugram, Haryana
About Indian Industries Association (IIA):
President– Ashok Kumar Agarwal
National Office– New Delhi, Delhi
TO
READ CURRENT AFFAIRS OF 9th May 2023
: CLICKHERE | TO
READ CURRENT AFFAIRS OF 11th May 2023
: CLICKHERE |
