27th August 2019 Current Affairs

Dear Aspirants, Notesbag is sharing with you all important current affairs of 27th August 2019. Our aim to provide you up to date current affairs for the preparation of upcoming competitive exams.

(1.) RBI to transfer ₹1.76 lakh crore to the Centre.

The Reserve Bank of India (RBI), at its board meeting on Monday, decided to transfer ₹1.76 lakh crore to the Centre — including the interim dividend of ₹28,000 crore paid in February.

The ₹1.76 lakh crore includes the central bank’s 2018-19 surplus of ₹1.23 lakh crore and ₹52,637 crore of excess provisions identified as per the revised Economic Capital Framework.

The RBI had formed a committee, chaired by former Governor Bimal Jalan, to review its economic capital framework and suggest the quantum of excess provision to be transferred to the government.

(2.) Mr. Palaniswami flagged off 40 Amma Patrol vehicles, also public electric bus rolled out

Mr. Palaniswami flagged off 40 Amma Patrol vehicles, to be manned by police personnel for the benefit of women and children within the Greater Chennai Police limits, at a total cost of ₹7.50 crore. The vehicles will be attached to 35 All Women Police Stations in Chennai and will help in surveillance.

(3.) Indian Bank, Tata AIG General Insurance tie up.

Indian Bank has joined hands with Tata AIG General Insurance to offer the latter’s diverse range of general insurance policies benefiting the bank’s customers by way of protection, wealth creation and savings. Tata AIG General Insurance will work with the bank for sales training, product support and ensuring smooth operational processes.

(4.) HRD Ministry launches National Digital Library of India.

Human Resource Development Ministry under its National Mission on Education through Information and Communication Technology, NMEICT has launched the National Digital Library of India project to develop a framework of virtual repository of learning resources with a single-window search facility.

(5.) Kotak Bank and Ola ink partnership to allow bank customers book an Ola ride from Kotak mobile app.

Kotak Mahindra Bank and ride-hailing platform Ola, owned by ANI Technologies Pvt. Ltd, on Monday announced a first-of-its-kind partnership to provide bank customers a facility to book an Ola ride from Kotak mobile banking app.

Customers can directly book and track Ola cabs and autos across 150 cities in India through the Kotak Mahindra Bank’s mobile app. Through the bank app they can also pay for their Ola rides.

(6.) BharatPe raises $50 mn in Series B funding at $225 mn valuation.

Delhi-based payments platform BharatPe has raised $50 million in Series B funding round led by Ribbit Capital and Steadview Capital. Existing investors Sequoia Capital, Beenext venture capital fund and Insight Partners also participated in the round. The new round valued the startup at $225 million, Ashneer Grover, Co-founder and CEO of BharatPe, told TechCrunch.

(7.) CRED raises $120 mn in Series B round led by Ribbit, Sequoia & others.

Bengaluru-based credit card bill payment startup CRED has raised $120 million in Series B funding round led by Ribbit Capital, Gemini Investments and Sequoia Capital. Tiger Global and Hillhouse Capital also participated in the round. Founded by FreeCharge Founder Kunal Shah, CRED raised a $30 million round led by Sequoia Capital last year.

(8.) Canara Bank launches OTPs for ATM withdrawals over ₹10,000.

State-run Canara Bank has launched India’s first one-time password (OTP) facility for ATM withdrawals. The facility, which is activated for cash withdrawals over ₹10,000 per day at its ATMs, will protect its card-holders from unauthorised withdrawals.

(9.) OnePlus to invest ₹ 1,000 crore on R&D centre in Hyderabad.

Premium phone maker OnePlus will invest ₹1,000 crore over the next three years for a research and development facility in Hyderabad to drive development of artificial intelligence and machine learning across its products.

(10.) BPCL to invest up to Rs1,700 crore in building floating LNG terminal in AP.

Bharat Petroleum Corp Ltd (BPCL) plans to invest Rs1,500-1,700 crore in building a floating liquefied natural gas (LNG) import terminal at Krishnapatnam in Andhra Pradesh. BPCL, the country’s second-biggest state-owned oil refining and fuel marketing company. The project is likely to be commissioned by 2022.

(11.) Intel launches first artificial intelligence chip Springhill.

Intel Corp launched its latest processor, it’s first using artificial intelligence (AI), designed for large computing centers.

The chip developed at its development facility in Haifa, Israel. The name of the chip is  Nervana NNP-I or Springhill and it is based on a 10 nanometer Ice Lake processor that will allow it to cope with high workloads using minimal amounts of energy.

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