* Franklin Templeton Trustee Services Pvt. Ltd. has appointed an independent advisor Kotak Mahindra Bank to work together with Franklin Templeton Asset Management (India) Pvt. Ltd (the AMC), to assist the Trustees in monetizing portfolios of the 6 schemes that are being wound up & make payouts to the affected investors.

* The 6 schemes are- Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund of Franklin Templeton Mutual Fund.

* International Business Machines (IBM) ties up with the Intellect Design Arena Limited, a full spectrum banking and insurance products company, to launch iTurmeric FinCloud platform through IBM public cloud targeting financial institutions which are looking to switch to the latest tools and technologies.

* The cloud-ready, API(Application Programming Interface)- first, microservices-based platform will help new digital banks systems to be tested and run in isolation or in parallel with core legacy systems, which can, in turn, continue to run without interruption or compromise.

• In view of the ongoing lockdown in the country due to Coronavirus (COVID-19), Kotak Mahindra Bank has become the 1st bank in India to allow video Know your customer (KYC) facility for its customers opening savings account (SA) on Kotak 811 platform.

• Under the video conferencing KYC system, customers have to provide Aadhaar and PAN (Permanent Account Number) to open ‘Kotak 811 savings account’ in the Bank.

• After this, a bank official will complete the KYC process by verifying of documents, signature on a video call with the customer & this entire video will be saved.

• Data released by the Registrar General of India stated that India's infant mortality rate (IMR) has improved very marginally from 33 per 1,000 live births in 2017 to 32 in 2018

• The report stated that Madhya Pradesh has the worst IMR in the country at 48 and Nagaland stands the best at 4. In 2017, Madhya Pradesh's IMR stood at 47

• Among large states, Kerala has performed best with an IMR in single digits at 7. Also, only Kerala state has now achieved the United Nations' sustainable development goal in this regard.

• The report stated that the largest decline in IMR has been registered by Mizoram, with a decline from 15 to 5. Undivided Jammu and Kashmir has shown a decline and is at 22, well below the national average of 32

• Data released by the Registrar General of India stated that India's infant mortality rate (IMR) has improved very marginally from 33 per 1,000 live births in 2017 to 32 in 2018.

• The report stated that Madhya Pradesh has the worst IMR in the country at 48 and Nagaland stands the best at 4. In 2017, Madhya Pradesh's IMR stood at 47.

• Among large states, Kerala has performed best with an IMR in single digits at 7. Also, only Kerala state has now achieved the United Nations' sustainable development goal in this regard.

• The report stated that the largest decline in IMR has been registered by Mizoram, with a decline from 15 to 5. Undivided Jammu and Kashmir has shown a decline and is at 22, well below the national average of 32.

• Data released by the Registrar General of India stated that India's infant mortality rate (IMR) has improved very marginally from 33 per 1,000 live births in 2017 to 32 in 2018.

• The report stated that Madhya Pradesh has the worst IMR in the country at 48 and Nagaland stands the best at 4. In 2017, Madhya Pradesh's IMR stood at 47.

• Among large states, Kerala has performed best with an IMR in single digits at 7. Also, only Kerala state has now achieved the United Nations' sustainable development goal in this regard.

• The report stated that the largest decline in IMR has been registered by Mizoram, with a decline from 15 to 5. Undivided Jammu and Kashmir has shown a decline and is at 22, well below the national average of 32.

• American brokerage Goldman Sachs expects the Indian economy to contract by 5% in FY21, which will be the deepest compared to all recessions India has ever experienced since 1979.

• It is against its earlier forecast of 0.4% contraction before revising it down to a level it shares with Japanese brokerage Nomura.

• The Federation of Indian Export Organization reported that the Indian Exports are to fall by 20% which will amount to 50-60 billion USD.

• The FIEO, the apex body of the exporters has requested to provide additional 2% support under the MEIS (Merchandise Exported from India) scheme.

• Also, the organization has requested additional 4% support to labour intensive sectors.

• The FIEO was set up under Ministry of Commerce. It is the premier body of Export Promotion Council.

* Canara Bank has started a special business vertical dedicated to gold loans. This business vertical for gold loans to meet the financial needs of its customers due to the COVID-19 pandemic.

* The bank has launched a gold loan campaign till 30th June 2020 with an interest rate as low as 7.85% per annum.

* The credit can be utilised for different purposes, such as expenses for agriculture and allied activities, business needs, health emergencies and personal needs.

At Centre’s request to the Reserve Bank of India, the RBI has increased Ways Means Advance limits of States by 60%.

• Number of days state can be in continuous overdraft from 14 days to 21 days.

• Number of days state can be in overdraft in a quarter from 32 to 50 days.