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Deendayal Antyodaya Yojana (DAY)-National Urban  Livelihoods Mission (NULM): Self-Employment Programme  (SEP): Component 4   Name of NULM changed to DAY-NULM.   The Government of India, Ministry of Housing and Urban  Poverty Alleviation (MoHUPA) has restructured the Swarna  Jayanti Shahari RozgarYojana (SJSRY) and launched the  National Urban Livelihoods Mission (NULM) w.e.f. September  24, 2013 in all district headquarters (irrespective of  population) and all the cities with population of 1 lakh or  more.  NULM -Self Employment Programme (SEP) is implemented in  our Bank and will focus on providing financial assistance  through a provision of interest subsidy on loans to support  establishment of Individual, including street  vendors/hawkers of urban poor for setting up gainful self- employment ventures/micro-enterprises, suited to their  skills, training, aptitude and local conditions. ...

🍒   Govt panel may ready new list of public sector banks for privatisation : The government may set up a panel to draw up a fresh list of public sector banks that can be privatised, people aware of deliberations said. The Centre wants to revisit its bank privatisation strategy after state-owned lenders turned profitable and several rounds of consolidation have reduced their number. In April 2021, Niti Aayog recommended the privatisation of two state-run banks to the disinvestment department. The Central Bank of India and the Indian Overseas Bank were reportedly shortlisted, but no final decision was taken. "A new committee may be set up to identify lenders for privatisation, which include mid- and small-sized banks, and determine the quantum of the stake sale based on their performance, including their bad loan portfolio among other parameters," a government official said. - economic times 🍒   Bank of Baroda posts highest quarterly net profit at ₹4,775 crore : Bank...

*Economic Times* 📝 UN predicts 2.3% global economic growth in 2023 📝 SEBI to widen definition of qualified buyers for bonds 📝 Shemaroo's Q4 Results: Net profit skyrockets 136.5% YoY to Rs. 4.8 crore 📝 Max Healthcare Q4 Results: Net profit jumps 85% YoY to Rs 320 crore 📝 Exporters see 11-13% growth in FY24 📝 US retail sales miss expectations, but core sales strong 📝 SPML Infra lenders start Rs 2,000-crore debt sale based on anchor bid from NARCL 📝 GIC buys Phoenix's Hyderabad IT Park for Rs 1,050 crore 📝 Logistics-tech startup Agraga raises $8.5 million in funding 📝 SaaS startup RevenueHero raises $5.1 million in funding from existing investors 📝 Front-end DevTools startup Locofy.ai raises $4.25 million *Business Standard* 📝  Tata Sons set to earn record dividend worth nearly Rs 33,350 cr in FY23 📝  Bharti Airtel Q4 results: Net profit surges 50% to Rs 3,006 crore 📝  Monsoon rains to be 'slightly delayed', hit Kerala on June 4: IMD 📝  HDFC Life declares...

📝 Baring Asia plans to sell minority stake in Sagility 📝 Sebi issues notices to PTC India financial arm citing governance lapses 📝 Apollo Tyres Q4 Results: Cons profit jumps 4-fold to Rs 427 crore, sales rise 12% 📝 Nazara Tech Q4 Results: Cons PAT rises 18% YoY to Rs 2.6 crore, sales jump 65% 📝 Nexus Select REIT IPO subscribed 28% on Day 1, non-QIB portion subscribed 42% 📝 India seeks exemptions for MSMEs from EU's carbon tax: Sources 📝 China exports up 8.5% in April in unexpected climb 📝 S&P Global Market Intelligence cuts US GDP forecast for 2023 to 1.2% 📝 SaaS platform Innovapptive raises funding led by Vista Equity Partners 📝 EV logistics firm Zyngo raises $5 million in round led by Delta Corp Holdings 📝 Social networking platform Slick raises $1.6 million in funding *Business Standard* 📝  Go First insolvency: Travel agents claim Rs 900 crore stuck, seek govt help 📝  IT capital Bengaluru sees 22 per cent decline in voters aged 20-29 📝  Kilburn Engine...

*Economic Times* 📝 Lithium producers Allkem, Livent to combine in $10.6 billion deal 📝 US debt ceiling impasse pushes government credit default swaps to record high 📝 Escorts Kubota Q4 Results: Profit rises 14% YoY to Rs 216.5 crore 📝 L&T Q4 Results: PAT rises 10% YoY to Rs 3,987 cr; dividend declared at Rs 24 per share 📝 Dr Reddy's Labs Q4 Results: PAT sees nine-fold jump to Rs 960 crore, dividend declared at Rs 40/share 📝 JSW Infrastructure files DRHP to raise up to Rs 2,800 crore via IPO 📝 Nabard, SBI Cards may seek up to Rs 5,800 cr via bond issues 📝 US consumer inflation eases to 4.9% in April, better than expectations 📝 IoT startup Doppelio raises $1.2 million in funding from Axilor, Mela Ventures 📝 Logistics startup Ripplr raises $40 million in funding led by Fireside Ventures 📝 Cybersecurity outfit SquareX raises $6 million in funding from Sequoia Capital SEA *Business Standard* 📝  Shell firms under scanner of tax authorities over fake ITC claims 📝  Li...

🍒   Canara Bank to spin off its credit card vertical into a separate subsidiary : State-owned Canara Bank is set to spin off its credit card vertical into a separate subsidiary while it has started preparing a roadmap for listing of its life insurance and fund management businesses, managing director K Satyanarayana Raju told ET. Raju also said that the bank is looking to focus on retail, agriculture and MSME lending and would slow lending to corporates to maintain net interest margin above 3%. The bank is taking steps to expand low-cost deposits, thus helping improve margins and profitability. The bank is focusing on the credit card business, which it believes can grow exponentially through cross-selling and leveraging the strength of its existing 80 million active customer base. At a market capitalization of about Rs 54,600 crore, Canara Bank is the third most-valued state-run lender after State Bank of India (SBI) and Bank of Baroda. - Economic Times 🍒   ‘Lookin...

Today's Headlines from : *Economic Times* 📝 Investments via PLI schemes top priority: Nirmala Sitharaman 📝 Mubadala, others eye stake in I Squared's India gas business 📝 Eicher Motors Q4 Results: PAT jumps 49% YoY to Rs 906 crore 📝 Sundaram Home Finance Q4 Results: Profit rises 29% YoY to Rs 216 crore 📝 Over 5.25 crore subscribers enrolled in Atal Pension Yojana 📝 24 big importers found evading Rs 11,000 crore IGST 📝 South Korea's Hyundai to invest $2.45 billion in India 📝 Reliance in fray as MG Motor looks to sell India ops: Reports 📝 ICMR, AYUSH ministry sign MoU for collaboration on health research 📝 Tourism industry on track to touch $1 trillion by 2047: Report 📝 India mobile user base falls in February: Trai 📝 Bengaluru-based TagZ Foods raises $2 million in funding from 9 Unicorns, others 📝 CBRE ties up with Nasscom for proptech challenge to support, mentor startups *Business Standard* 📝 Tata Capital launches payment facility, UPI 123PAY for feature phone...

🍒    Banks have to be conscious of co lending risks: SBI MD : Banks have to be conscious about the underwriting standards of non banking finance companies (NBFCs) with whom they have co lending partnerships because it could create problems in the future, State Bank of India (SBI) managing director (MD) Challa Sreenivasulu Setty said. Speaking at the IMC Chamber of Commerce and Industry’s banking and finance conference Setty said banks will have to carefully assess the portfolios of the NBFCs and micro finance institutions (MFIs) that they are in partnership with as part of their risk management. “The way we manage credit risk, we look at retail, corporate and institutional loans but the wider portfolios in the system are to do with on lending to MFIs and NBFCs is what I am worried about. Do they have the same underwriting risk is what we should be asking,” Setty who is in charge of international banking, global markets & technology said. - economic times 🍒    F...

*Economic Times* 📝 SCO members vote unanimously to adopt India’s proposal on DPI 📝 DLF to launch projects worth nearly Rs 20K cr this fiscal; targets sale bookings of Rs 12K cr 📝 Little progress has been made in curbing too high inflation, Fed's Jefferson says 📝 DMart Q4 Results: Net profit rises 8% YoY to Rs 505 crore; misses estimates 📝 Confident that GDP will grow at 6.5 per cent in FY24: RBI Governor Shaktikanta Das 📝 Govt sets up Centre for Processing Accelerated Corporate Exit 📝 Germany unveils 2.7 billion euro weapons package for Ukraine 📝 FMCG platform Soptle raises $1 million in funding led by Kube VC, We Founder Circle *Business Standard* 📝 Ola Electric expanding fast, to cross 1,000 experience centres this year 📝 Partial sale of companies won't be default under insolvency code: Report 📝 Karnataka elects the highest number of women MLAs since 1962 📝 EAM Jaishankar arrives in Sweden for EU Indo-Pacific Ministerial Forum 📝 Portal to track, recover lost mobi...

                                                       DIVERTED PROFITS TAX    Diverted Profits Tax, commonly known as "Google tax", refers to tax provisions designed  to counter the practice of profits being diverted to other jurisdictions that have lower or  zero tax rates.                                                                         

*Economic Times* 📝 ONGC arm raises $500m in foreign currency loan 📝 Government to roll out system to block, track lost phones 📝 Hero Moto to step up premium play with a dozen launches this fiscal 📝 Creditors’ recovery via IBC surges to 36% of admitted claims in FY23 📝 Defence Ministry releases list of 928 items to be indigenised 📝 IL&FS transfers Pune Sholapur Road asset to Invit at enterprise value of Rs 2,000 crore 📝 NHB asks large housing finance companies to adopt early warning signals framework 📝 INOX Air plans Rs 3,000 crore investment by 2025 to meet rising demand 📝 Aakash Healthcare lines up Rs 100 crore to set up specialised orthopaedics facilities *Business Standard* 📝 India's Exports to EU, US grow but Asia and Africa suffer in FY23 📝 Poonawalla Fincorp to keep headcount at 3,000 for 5 yrs to build AUM 📝 Go First has access to Rs 300 cr, will start ops at the earliest: Exec 📝 Premium smartphone sales soar as Amazon India bets on 5G, tier-2+ markets 📝 Go...

Bank exams and current affairs  Economic Times: 1) Banks, ARCs Spar Over Key Document, Indemnity Clause.DIFFERENCES MAY IMPACT DEALS.Lenders want ARCs to give an undertaking on having no ties with promoters of bankrupt cos, share upside. 2) Creditors’ Recovery via IBC Surges to 36% of Admitted Claims in FY23.AT 2-YEAR HIGH Increased sittings by tribunals with easing of Covid & better offers by bidders help. 3) ARCs are asking the RBI to review the recently prescribed norm that requires an independent advisory committee to examine all settlement of dues with borrowers.This includes retail, SME and MSME loans, which they say are small and many in number. The ARCs are also appealing for a rollback of the October 2022 circular that stipulates settlements can be made only after all possible steps to recover dues have been exhausted. 4) Sebi proposal to regulate all online platforms that offer fractional ownership of real estate assets is expected to institutionalise the segment and ...

*Economic Times* 📝 Formal job creation under ESI scheme grows 8.1% in March 📝 Credit crunch forces 7 US companies to file for bankruptcy 📝 NSE Q4 Results: Net profit rises 19% YoY to Rs 1,810 crore; dividend declared at Rs 80 per share 📝 PVR Inox Q4 Results: Firm reports loss of Rs 333 cr; revenue jumps 113% YoY 📝 India's exports to UAE dip 22 per cent in April: Commerce ministry data 📝 Exports shrink 12.7% in April, trade deficit hits 20-month low at $15.2 billion 📝 WPI declines for 11th straight month, falls to -0.92% in April 📝 Alpha Alternatives raises Rs 2,100 cr in first close of its maiden structured credit fund 📝 Silicon Valley automotive ethernet chip startup Ethernovia raises $64 million 📝 Puma India head Abhishek Ganguly’s new startup raises $52 million funding *Business Standard* 📝  Qualcomm working with OEMs to cut 5G smartphone cost to sub-Rs 8,000 📝  Dish TV Institutional shareholders call for EGM, seek to remove 2 directors 📝  Suryoday SFB pos...

Banking current affairs  🍒    NPCC introduces CVV-less payments for tokenised cards : RuPay has now introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or webpage, said The National Payments Corporation of India (NPCI) on Monday . This new experience is meant to ensure that the cardholder will not have to reach out to their wallet or remember any card details, if they have saved (tokenized) their card on the ecommerce merchant which supports this feature, NPCI said in a statement. Tokenization is a simple technology to secure card transactions without sharing the clear or real card details with the merchants. - economic times 🍒    KVB posts its highest-ever annual net profit at ₹1,106 cr in FY23 : Karur Vysya Bank has reported its highest-ever annual net profit and a significant improvement in asset quality for the year FY23. The old privat...

Bank exams current affairs  *Economic Times* 📝 UN predicts 2.3% global economic growth in 2023 📝 SEBI to widen definition of qualified buyers for bonds 📝 Shemaroo's Q4 Results: Net profit skyrockets 136.5% YoY to Rs. 4.8 crore 📝 Max Healthcare Q4 Results: Net profit jumps 85% YoY to Rs 320 crore 📝 Exporters see 11-13% growth in FY24 📝 US retail sales miss expectations, but core sales strong 📝 SPML Infra lenders start Rs 2,000-crore debt sale based on anchor bid from NARCL 📝 GIC buys Phoenix's Hyderabad IT Park for Rs 1,050 crore 📝 Logistics-tech startup Agraga raises $8.5 million in funding 📝 SaaS startup RevenueHero raises $5.1 million in funding from existing investors 📝 Front-end DevTools startup Locofy.ai raises $4.25 million *Business Standard* 📝  Tata Sons set to earn record dividend worth nearly Rs 33,350 cr in FY23 📝  Bharti Airtel Q4 results: Net profit surges 50% to Rs 3,006 crore 📝  Monsoon rains to be 'slightly delayed', hit Kerala on June 4...

×××××××××××××××××××××××  *TODAYS TOP NEWS*  ××××××××××××××××××××××× 1.  Under ‘Rozgar Mela’, PM Narendra Modi will distribute around 71,000 appointment letters to newly inducted recruits on May 16 via video conferencing. It will be conducted at 45 locations across the country in various central government departments. 2. Minister for Housing and Urban Affairs Hardeep S Puri launched his Ministry’s mega campaign ‘Meri LiFE, Mera Swachh Shehar’, in New Delhi.  3. Supreme Court  declined to entertain a plea challenging a Bombay High Court decision dismissing PIL against Vice President Jagdeep Dhankhar and Union Law Minister Kiren Rijiju for their remarks on the judiciary and the Collegium system for appointment of judges.  4. NITI Aayog member VK Paul has said that firms in the public and private sectors should consider extending maternity leave from six months to nine months. He added that private sector should help the NITI Aayog with designing comprehensive...