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26 April 2023
By GyanOk

Daily Current Affairs Notes for 26 April 2023

SBI’s fourth startup branch opens in Mumbai BKC

SBI opened its fourth branch exclusively for startups in Mumbai's BKC area.

SBI has launched its fourth branch dedicated to startups in Mumbai's BKC area. During the launch event, SBI Chairman Dinesh Khara highlighted the branch's primary goal of providing complete support to startups at every stage of their business journey, from setting up their company to executing IPOs and FPOs.

SBI’s fourth startup branch:

The new branch will not only offer regular banking services to startups but also function as a one-stop solution for various financial services provided by SBI's subsidiaries, such as investment banking, treasury/forex, and advisory. The bank aims to cater not only to startups but also to private equity (PE), venture capital (VC), and alternative investment funds (AIFs), as per reports.

International Chernobyl Disaster Remembrance Day 2023 observed on 26 April

International Chernobyl Disaster Remembrance Day is observed on April 26, annually, in memory and honour of those who lost their lives.

Every year on April 26, International Chernobyl Disaster Remembrance Day is observed to honor and remember those who lost their lives in the disaster. This day is forever associated with the tragic incident that occurred during a systems test malfunction at the Chernobyl Nuclear Power Plant, also known as the Vladimir Lenin Nuclear Power Plant, on April 26, 1986, in the former Soviet Union. The accident happened during a routine safety test of a nuclear reactor, and according to the United Nations (UN), about 50 people lost their lives immediately. Here are some key facts about the infamous Chernobyl disaster.

The World Health Organization (WHO), approximately 3,940 people lost their lives to cancer caused by radiation exposure. International Chernobyl Disaster Remembrance Day is observed every year on April 26 to commemorate and honor those who lost their lives. Here are some important facts about the disaster.

History of the day:

On December 8, 2016, following the 30th anniversary of the Chernobyl disaster, the United Nations adopted a resolution designating April 26 as the International Chernobyl Disaster Remembrance Day. The General Assembly acknowledged in its resolution that despite three decades passing since the 1986 disaster, the lasting effects persist, and the affected communities and territories continue to have pressing needs related to the incident.

Neobank Jupiter secures NBFC licence

Jupiter, a neobanking startup, has obtained a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI), enabling the company to provide credit from its own resources.

Jupiter, a neobank startup, has received a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI), allowing it to offer credit using its own resources. Jitendra Gupta, the founder of Amica Financial Technologies Ltd., which operates Jupiter, announced that the company plans to hire a professional CEO to oversee the NBFC operations.

Significance of the NBFC licence:

Obtaining the NBFC license is a crucial milestone for Jupiter, as the company has been scaling up its lending services by collaborating with NBFCs. This license will give Jupiter more autonomy in its lending operations, enabling it to provide credit directly from its own resources. This move will provide the company with greater flexibility and control over the lending process, allowing it to offer a wider range of credit options.

About Jupiter: A Neobank:

Jupiter is a neobank, which means it is a digital bank that operates solely online, without any brick-and-mortar branches. The founder of Jupiter, Jitendra Gupta, previously co-founded Citrus Pay, a payment gateway company that PayU acquired in 2016. Jupiter was established in 2019 by Gupta.

About NBFCs:

Non-banking financial companies, commonly known as NBFCs, are financial institutions that offer various financial services but are not licensed to operate as banks. They fall under the regulatory authority of the Reserve Bank of India (RBI) and are governed by specific regulations and limitations. However, NBFCs are not permitted to accept demand deposits or issue cheques.