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Kerala Received Maximum Funds in 2016-17
The Reserve Bank of India’s survey of inward remittances for 2016-17 has stated that, Kerala has received the maximum funds sent from abroad. The United Arab Emirates (UAE) is the top source of these inward remittances at 26.9% compared to United States at 22.9%.
RBI Approves Surplus Payment to Government
On August 11, RBI agreed to transfer a surplus amount of Rs. 500 billion or Rs.50,000 crore for the year ending June 30, 2018, to the Government of India. The decision was taken by the Central Board of Directors of the Reserve Bank of India, at a meeting held on August 8.
Aditya Birla Health Insurance and DHFL Pramerica Life Insurance Enter Partnership with SVC Co-operative Bank Limited
On August 10, Aditya Birla Health Insurance Co and DHFL Pramerica Life Insurance announced their partnership with urban co-operative lender SVC Bank to sell their policies through the bank.
Amazon and Uttar Pradesh Government Join Hands
Amazon signed an MoU with the UP government on August 11, to provide support to MSME entrepreneurs across nine districts as part of the One District One Product (ODOP) scheme.