.png "Banking & Financial Awareness GK Digest : June 2024")
PhonePe Launches Secured Lending Platform
With Banks, NBFC and Fintech Firms
Current Context: On Thursday, May 30, 2024, PhonePe, a Walmart-owned fintech firm, launched a secured lending platform in collaboration with banks, non-banking financial companies (NBFCs), and other fintech firms.
Details
- The platform, designed to provide a seamless user experience in the secured loans category, offers its over 535 million registered users access to loans across six major categories: Mutual Fund Loan, Gold Loan, Bike Loan, Car Loan, Home Loan/Loan against Property, and Education Loan.
- The loan application process is initiated within the familiar environment of the PhonePe app, simplifying the process for users.
- PhonePe has
partnered with top lenders such as Tata
Capital, L&T Finance, Hero FinCorp, Muthoot Fincorp, DMI Housing Finance,
Home First Finance, rupyy, Volt Money, Gradright, and more.
SEBI
Launches User-Friendly Beta Settlement Calculator
Current Context: The Securities and Exchange Board of India (SEBI) launched a
Beta version of its Settlement Calculator.
About
- The calculator allows applicants to select fields according to the offences they have committed.
- It enables the applicant to select appropriate options based on their previous regulatory history, SEBI’s actions, and the details of any other ongoing procedures as of the filing date of the settlement application.
- A user-friendly guide video has been included in the settlement calculator for the ease of understanding the process of arriving at the indicative settlement amount.
- The beta
version of the settlement calculator is available on the SEBI website.
- This initiative is aimed at enhancing transparency and making the settlement process more user-friendly.
Adani Group & ICICI Bank launch
co-branded credit cards with airport lined benefits
Current Context: The Adani Group and ICICI Bank have indeed launched co-branded
credit cards with airport-linked benefits. This strategic partnership aims to
enhance customer experience across various businesses.
Key Points
- The cards are available in two variants: Adani One ICICI Bank Signature Credit Card and Adani One ICICI Bank Platinum Credit Card.
- They offer up to 7% Adani Reward Points on spends across the Adani Group consumer ecosystem like the Adani One app, Adani-managed airports, Adani CNG pumps, Adani Electricity bills, and Trainman, an online train booking platform.
- The cards come
with a plethora of benefits designed to enhance the cardholders’
lifestyle and elevate their airport and travel experience.
- They offer
airport privileges like premium lounge access, Pranaam Meet & Greet
Service, porter, valet and premium car parking.
- It aims to provide customers with an enhanced and seamless payment experience while unlocking a world of exclusive privileges.
This digest is not complete. Read the complete digest on the Financial Awareness Course.
