 Recently hackers have stolen (illegally withdrawn) Rs .94 crore from Pune’s Cosmos Cooperative Bank via ATMs in 28 countries. It is possibly first of its kind coordinated digital attack on Indian bank. In this cyber heist considered to be originated in Canada, Rs. 78 crore were illegally withdrawn in more than 12,000 ATM transactions in 28 countries. Rs 2.5 crore were made in different places within India with another 2,800 transactions. Moreover, Rs 13.5 crore was transferred to Hong Kong-based entity using the Society for Worldwide Interbank Telecommunications (SWIFT) facility. |
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 Axis Bank became first bank in the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions through its micro ATM tablets. These micro ATM tablets are Standardisation Testing and Quality Certification (STQC) certified and UIDAI compliant registered devices with completely integrated iris sensors. |
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%20Industrial%20output%20records%205-month%20high%20growth%20of%207%25%20in%20June%202018.jpg) According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) had 7% in June 2018, five-month high. This was on account of higher output in mining, manufacturing and power generation segments. Moreover, CSO also revised IIP upwards for May 2018 at 3.9% from previous estimate of 3.2% estimated earlier. The cumulative IIP growth for period April-June 2018 was 5.2% over corresponding period of previous year. The manufacturing sector in June 2018 grew by 6.9%, as against decline of 0.7% in the year-ago month. Power generation segment grew by 8.5% in June against 2.1% growth year ago. The mining sector output recorded 6.6% growth in June against 0.1% in June 2017. |
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 Bajaj Allianz General Insurance has entered into a bancassurance deal with Vijaya Bank. This corporate agency agreement will enable distribution of Bajaj Allianz General Insurance products through the bank’s network of 2,129 branches across the country. Under this strategic tie-up, Bajaj Allianz General Insurance will offer personal lines of insurance products such as health, personal accident, home, motor and travel along with a commercial line of insurance products.
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| Source- The Moneycontrol |
 Axis bank has become the first bank in the country to introduce Iris Scan Authentication feature for Aadhaar -based transactions through its micro ATM tablets. This is being run as a pilot project in 8 branches of rural Punjab, Haryana, Gujarat and Andhra Pradesh. |
| Source- The Livemint |
 Hongkong and Shanghai Banking Corporation (HSBC) has launched a new digital platform 'MyDeal' to simplify capital raising process through capital markets by providing real-time access to information such as investors' feedback, profiles, client orders and deal pricing. The platform contains all the information relating to a client's capital markets transaction and is updated on real-time basis. In its pilot phase, MyDeal has raised over USD 25 billion in the first seven months through over 30 transactions globally. |
| Source- The Economic Times |
 PayPal, a digital payments platform has announced its strategic partnership with and HDFC Bank to offer safer, faster and convenient payment experiences for the bank's cardholders. To initiate incremental digital spend, the HDFC cards will be presented as a payment option during enrollment and subsequent payments, with the ability for consumers to easily open PayPal accounts and set it as their preferred payment method. The partnership will create a number of joint growth opportunities that will advance PayPal and HDFC Bank's shared vision of offering consumers greater choice and flexibility in managing their money. |
| Source- Deccan Chronicle |
 The Reserve Bank of India (RBI) will transfer Rs50,000 crore of its surplus money to the government, the highest since 2015-16, in a partial relief for the latter struggling to replenish public sector banks. The transfer gives the government more elbow room to infuse capital into the banks it owns. In October 2017, the government had said it would infuse Rs2.11 trillion into public sector banks through a mix of recapitalization bonds (Rs1.35 trillion), direct infusion from budgetary allocations (Rs18,000 crore) and market borrowing (Rs58,000 crore). |
| Source- The Livemint |
 According to recent study released by LIRNEAsia, India has highest gender gap in mobile phone ownership amongst 18 comparable countries and ranks among the lowest in women’s access to Internet. LIRNEAsia is an information and communications technology (ICT) policy think tank that is involved in pro-poor, pro-market research in Asia-Pacific since 2005. The study also included comparative research done by ICT Africa in Africa and DIRSI in Latin America. |
Key Highlights of Study
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 In the 29th meeting, GST council approves cash incentives to promote Digital transactions. Finance Minister Piyush Goyal announces 20% Cashback upto Rs 100 for the Digital Transactions done via BHIM, Rupay or USSD mode. The meeting was held in New Delhi. The meeting was chaired by Finance Minister Piyush Goyal. It was focused on the concerns and suggestions of the Micro, Small and Medium Enterprises. In the meeting, it was decided to create a sub-committee headed by MoS Finance Shiv Pratap Shukla for the Micro, Small and Medium Enterprises (MSME) sector. |
| Source- DD News |
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