ECONOMY
Corporation Bank Launched First MUDRA card
Corporation Bank on 4 July launched country’s first MUDRA (Micro Units Development and Refinance Agency) card under the Pradhan Mantri MUDRA Yojana (PMMY) in Mangalore, Karnataka. The card is based on the RuPay platform and facilitates the withdrawal and use of the working capital finance by micro entrepreneurs.
RBI signed Special Currency Swap Agreement with the Central Bank of Sri Lanka
A Special Currency Swap Agreement was signed between Reserve Bank of India (RBI) and Central Bank of Sri Lanka on 17 July.As per this agreement, Central Bank of Sri Lanka can draw up to 1.1 billion US dollar for a maximum period of six months. This special arrangement is in addition to the existing Framework on Currency Swap Arrangement for the SAARC Member Countries.
Seven Indian Companies Among World’s 500 Largest Companies
Seven Indian companies were listed among the world’s 500 largest companies in the Fortune Global 500 list for 2015 that was released on 22 July. The list has been topped by Wal-Mart, which retained its top spot.
Ten Indian Companies In Forbes Asia Fabulous 50 List
The Forbes Asia’s Fabulous 50 list of the year 2015 was released on 23 July. India has secured the second highest position in the Forbes Asia Fabulous 50 list with 10 Indian companies featuring in the list. China secured No 1 position in the list with 25 companies.