Banking & Insurance
1. LIC launches new term insurance plan 'Jeevan Amar'
Life Insurance Corporation (LIC) of India has launched a new term insurance plan called 'Jeevan Amar'.
It is a non-linked, nonparticipating, life term assurance plan and offers greater flexibility to policyholders in comparison to other insurance plans.
In this plan policyholder cannot claim the amount on maturity. The nominee will receive the death claim in case of demise of the life assured during the term of the policy.
The plan is available for ages 18-65 years with the maximum age maturity at 80 years offering policy terms from 10 years to a maximum of 40 years.
The insurance premium can either be paid only once, for a limited premium paying term or regularly or regularly throughout the policy term.
Source: Times of India
2. RBI will set up Central Fraud Registry
India’s central bank the ‘The Reserve Bank of India’ is going to set up a Central Payment Fraud Registry.
This Registry will monitor digital payments related frauds on a real-time basis and provide customers with periodic aggregated data of risks associated with individual payments operators
This will improve customer confidence in these channels.
A detail framework on the proposed registry would be released by the regulators in October.
Currently, RBI has a mechanism in place for banks to report all banking frauds to the Central Fraud Monitoring Cell of the Reserve Bank.
The proposed registry may extend the platform to all payments operators.
Source: Economic Times
3. Bancassurance pact between SBI Life and Indian Bank
SBI Life Insurance and Indian Bank have entered into a Bancassurance pact to offer holistic financial planning solutions to the banks customers.
SBI Life will work with Indian Bank to ensure sales training, product support and smooth operational processes in order to offer life insurance policies to its customers.
Indian Bank’s customers will have access to an array of life insurance products from SBI Life catering to varied life stage needs of the customer.
With Indian Bank’s widespread presence and SBI Life’s extensive product portfolio, this partnership will ensure easier accessibility of life insurance to consumers.
Currently, Padmaja Chunduru is the MD & CEO of Indian Bank and Sanjeev Nautiyal is the MD & CEO, SBI Life Insurance.
Indian Bank also signed such agreement with Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Ltd (ABCL).
4. SBI to lower lending rates from 10th August
The State Bank of India (SBI) has announced a 15-basis points reduction in its lending rates.
In a statement, the country’s largest lender said the new rates of 8.25 per cent will be effective from 10th
After this cut, SBI home loans have become cheaper by 35 bps since April. The bank is offering repo linked home loans since 1st July 2019.
Source: AIR News
5. SBI General Insurance launches cyber insurance scheme for customers
SBI General Insurance, one of the leading insurance companies in India, has launched new cyber insurance scheme for the customers, to safeguard their online bank account or of ATM fraud.
Pushan Mahapatra is new MD, CEO of SBI General Insurance.
Source: UNI
Awards
6. Naaz Joshi Wins Miss World Diversity Title third time in a row
India’s transsexual women Naaz Joshi wins the Miss World Diversity beauty pageant 2019 for third consecutive year.
The transsexual beauty has won the title in 2017 and 2018 as well to become the first person ever to win the title for three consecutive years.
This beauty contest was held in Port Louis, Mauritius.
She has also been crowned as Miss Republic International Beauty Ambassador 2017 and Miss United Nationals Ambassador.
7. ISRO announces Vikram Sarabhai Journalism Award in space science, technology and research
As part of centenary year celebrations of Dr Vikram Sarabhai the Indian Space Research Organisation (ISRO) has announced two categories of awards in journalism.
The first category holds a cash price of Rs 5,00,000, a medal and citation and two journalists or freelancers of print media will be awarded.
The second category of the award holds 3 cash prizes of Rs 3,00,000, 2,00,000 and 1,00,000 and citation each for journalists or freelancers of print media.
“Vikram Sarabhai Journalism Award in Space Science, Technology and Research” is to recognise and reward journalists who have actively contributed towards the field of space science, applications, and research.
Dr Vikram Sarabhai is regarded as the father of Indian space programme.
Source: PIB
National Affairs
8. Researchers at IIT Guwahati develop portable device to detect bacteria instantly
A team of researchers at the Indian Institute of Technology, Guwahati (IIT-G) has developed a portable device to detect bacteria without cell culture or microbiological assays.
The hand-held device, with bio-compatible sensor can also diagnose time-critical illnesses such as meningitis.
The present techniques are extremely time- consuming. Currently, cells derived from a patient are cultured or grown in laboratories to detect and microanalyse bacteria.
The research has enabled rapid detection of bacteria, which is not just important in healthcare but also in anti- bioterrorism measures and environmental monitoring.
Source: AIR
Obituaries
9. WWE’s ‘King of the Ring’ Harley Race passes away
WWE’s professional wrestler, Harley Race (76) passed away due to lung cancer.
He became a mainstay of the wrestling circuit, winning numerous individual and tag-team titles in the 1960s, ’70s and ’80s.
Race was pitted in high-profile matches against Dusty Rhodes, Ric Flair, Andre the Giant, Hulk Hogan and other marquee names.
Source: Indian Express
10. Veteran Film Director J Om Prakash passes away
Bollywood veteran director and actor Hrithik Roshan's grandfather, J Om Prakash (93 yrs), passed away.
He is best known for his collaboration with two of Bollywood biggest superstars -- the late Rajesh Khanna and Jeetendra.
He is best known for his films "Aap Ki Kasam" (1974), "Apnapan" (1977), "Aasha" (1980), "Apna Bana Lo" (1982), "Arpan" (1983) "Aakhir Kyon?" (1985) and "Aadmi Khilona Hai" (1993).
Source: BS
11. 78th Death Anniversary of Gurudev Rabindranath Tagore was Observed
78th death anniversary of Gurudev Ravindranath Tagore was observed all across the country on 7th
People from all walks of life in Bengal along with the rest of the country paid homage to Gurudev Rabindranath Tagore.
Gurudev was a prolific writer whose works ranged from poetries and songs to short stories and plays.
Rabindranath Tagore passed away on August 7, 1941 (The 22nd Srabon in the Bengali calendar).
Important Days
12. Nation observes 77th anniversary of Quit India movement
The 77th anniversary of the August Kranti Din, was observed all across the country on 8th August, 2019 which is considered as one of the important milestones in the history of freedom struggle of our country.
On this date in 1942, Mahatma Gandhi gave a clarion call to end the British rule and launched the Quit India Movement at the session of the All-India Congress Committee in Mumbai.
Gandhiji gave the call to Do or Die in his Quit India speech delivered at the Gowalia Tank Maidan in Mumbai.
Appointment
13. Kandikuppa Sreekant becomes Power Grid CMD
Kandikuppa Sreekant has been appointed as chairman and managing director of the State-owned Power Grid Corporation of India.
Previously he was working as Director (Finance) in the Power Grid Corporation.
According Ministry of Power order, the tenure of Kandikuppa Sreekant will be till December 31, 2023.
Sports
14. Mary Kom, Lovlina Borgohain selected for world boxing C’ships
Six-time world champion M C Mary Kom and Lovlina Borgohain have been selected for the upcoming women’s world boxing championships to be held in Russia from 3 to 13 October.
The 36-year-old Mary Kom, who has already claimed two gold medals this year India Open and a recent tournament in Indonesia, has been selected in the 51kg category.
While World and Asian bronze-medallist Borgohain will be competing in the 69kg category.
Source: AIR
15. Footballer Diego Forlan Announces Retirement
Former Uruguay captain and English Premier League winner with Manchester United, Diego Forlan has announced his official retirement at the age of 40.
In 2011, the striker helped Uruguay win the Copa America, a competition both his father and grandfather won.
He was also named the best player at the 2010 World Cup in South Africa where Uruguay finished fourth.
He scored 36 goals in 112 matches for his country.
Source: NDTV
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