- The apex bank of the country, the Reserve Bank of India (RBI) barred the Equitas Small Finance Bank (ESFB) from opening new branches. The decision comes after ESFB missed the deadline to list its shares on stock exchanges. It also froze the salary of ESFB’s Managing Director (MD) and Chief Executive Officer (CEO), Vasudevan PN.
2) I – stands for Interface in UPI. The full form of UPI is Unified Payments Interface.
- On September 5, 2019 the National Payments Corporation of India (NPCI) has released a data on the new record created by Unified Payments Interface (UPI) transactions that reached an overall high of 918 million transactions worth Rs 1.54 lakh crore by the end of August, 2019 crossing the 900 million transaction mark.
- All 19 public sector banks (PSB) including State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BOB) have initiated in-principle retail loan approval for customers availing housing and personal loans under the online lending platform ‘PSB Loans in 59 Minutes’.
- B stands for Bankruptcy in IBC. The full form of IBC is Insolvency and Bankruptcy Code (IBC).This was in news recently because Corporate Affairs Secretary Injeti Srinivas notified that there are plans to waive off the debts of small distressed borrowers using the ‘fresh start’ provisions of the Insolvency and Bankruptcy Code (IBC). It would be for the most distressed individuals within the economically weaker section (EWS). The waiver will cost Rs 10,000 crore per annum.
- The Central Board of Secondary Education (CBSE) has joined hands with American multinational technology company, Microsoft to incorporate cloud-based technology in high school teachers’ capacity building programs and teaching. This program, designed for teachers of 8th to 10th grade, will be run in 10 cities across India from September 11, 2019.
- The International Cricket Council (ICC) appointed Jonathan Hall as its General Counsel and Company Secretary who will take up the responsibility in mid-September 2019. He has legal experience of 27 years.
- With effect from September 5, 2019, the Khadi and Village Industries Commission (KVIC) chairman Vinai Kumar Saxena was given an extension of another 3 years. Vinai Kumar Saxena, chief of KVIC. He was first appointed as the chairman of KVIC in October 2015 and introduced many innovative schemes like the ‘Honey Mission'(2017 in New Delhi) after the call of Prime Minister Narendra Modi’s ‘Sweet Revolution’ in 2016, ‘Kumhaar Sashaktikaran Scheme’ and also the artisan development centre.
- Indian cricket team’s star batsman Rohit Sharma is launching “Rohit4Rhinos campaign” in partnership with WWF India and Animal Planet (wildlife channel) to spread awareness about the need for conservation of one-horned rhinos. Rohit Sharma’s new innings, “Rohit4Rhinos campaign” for conservation Rhinos. This rhino conservation campaign will be launched on September 22 on World Rhino Day. The one-horned rhinoceros, the state animal of Assam, faces several threats, including poaching, habitat loss and mortality from in-breeding and disease. There are around 3,500 Indian rhinos present in the world. India is home to 82 % of the rhinos.
- Cameroon football legend Samuel Eto’o (38) has announced retirement from all forms of football. Born on 10 March 1981 at Douala in Cameroon, he is regarded as one of the greatest African players of all time. In 1998, he was the youngest participant in the 1998 FIFA World Cup after making Cameroon’s team at the age of 17years and 3 months. He went on to join Football club Barcelona in 2004, where he was able to win 2 Champions League titles, 4 La Liga titles, 2 Supercopa de Espana and 1 Copa del Rey. In 2010, he signed with Inter Milan, where he was able to win his 3rd Champions League title. He was also voted African Player of the Year award four times (2003, 2004, 2005, and 2010), an honour for winning it for the most number of times that he shares with Ivorian midfielder Yaya Toure.