• Life insurance corporation (LIC) has has reduced shareholding in Sun Pharmaceuticals by selling 2% stake, in the company for about Rs 3,882 crore, to 5.024%.

• The shares were sold through open market transactions during the period from May 17,2021 to July 22, 2022.

• As per the norms of Sebi, listed companies are required to intimate the stock exchanges when their shareholding in an entity falls by 2% or more.

• Rajasthan Grameen Aajivika Vikas Parishad (RGAV) has signed an agreement with Stree Nidhi-Telangana to set up a financial institution for women in Rajasthan.

• Rajasthan Mahila Nidhi is being set up in Rajasthan on the lines of Telangana's Stree Nidhi model.

• Rajasthan's CM, Ashok Gehlot had announced the setting up a bank run by women in the state budget 2022-23.

• Women's economic empowerment would get a boost and they would be able to get loans for their enterprises.

• The International Monetary Fund (IMF) has reduced its gross domestic product (GDP) growth forecast for India for the current financial year (FY23) to 7.4%.

• The IMF has also reduced the growth forecast for FY24 to 6.1% as against 6.9% earlier.

• Reason: Due to less favourable external conditions and more rapid policy tightening.

• Canara Bank has launched a new mobile banking app - Canara ai1, it is available in 11 languages to cater to multiple sections of the society in their preferred language.

• Features: Intuitive UI and UX with multiple themes and customised menus which can be personalised as per the user’s choice.

• Security features: Device binding, malware detection, detection of remote administration tools and a dynamic keyboard to provide safe and secure banking.

• Bajaj Allianz General Insurance has announced the launch of its add-on motor insurance cover, called ‘Pay As You Consume’ (PAYC).

• It is a usage-based motor insurance add-on cover, can be opted by the customer along with the basic Own Damage (OD plan) under Package Product, Bundled and Standalone OD cover.

• Customers can choose coverage based on their vehicle usage, further to which the premium will be calculated, i.e., kilometres driven annually.

• The RBI has imposed restrictions on four cooperative banks due to their deteriorating financial positions.

• Four banks: Saibaba Janata Sahakari Bank, Maharashtra, Suri Friends' Union Co-operative Bank Ltd, West Bengal, United India Co-operative Bank Limited, Bijnor (UP) and National Urban Co-operative Bank Ltd, Bahraich (UP).

• Withdrawal limit:

• Saibaba Janata Sahakari: Rs. 20,000

• Suri Friends' Union Co-operative: Rs. 50,000

• National Urban Co-operative: Rs.10,000

• Beverage maker coca cola, has signed the Olympic gold medal Neeraj Chopra for its new brand Limca Sports.

• The electrolytes and glucose beverage is a sports activities drink.

• The beverage maker’s president for India and Southwest Asia Sanket Ray has announced that company's bottling partners are investing $1 billion (Rs 8,000 crore) over two years to expand their production capacity, and broadbase the beverage portfolio.

• Hindustan Aeronautics Limited (HAL) has signed a contract worth over $100 million with Honeywell.

• Aim: For the supply and manufacture of 88 TPE331-12B engines/kits along with the maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40).

• The TPE331-12B engine is a single shaft turboprop engine with integral inlet and gearbox, two stage centrifugal compressor, power turbine, gearbox, three stage axial turbine and turbine exhaust diffuser.

• The Indian Space Research Organisation (ISRO) has earned 279 million dollars in foreign exchange by launching satellites for global clients.

• ISRO in association with its commercial arms has successfully launched 345 foreign satellites from 34 countries on-board Polar Satellite Launch Vehicle (PSLV).

• The PSLV mission (latest) was on June 30 when ISRO has launched three Singaporean satellites into orbit.

• Punjabi singer, Balwinder Safri has passed away at the age of 63.

• He was based in Birmingham, UK, was part of the UK bhangra scene since 1980 and formed the Safri Boyz Band in 1990.

• He was known for his Punjabi tracks such as “Rahaye Rahaye” and “Chan Mere Makhna”.

• Some of the famous songs from his band were Boliyan, Ik Dil Karey, Rangle Punjab, and many more.

• After triple bypass surgeries, the singer went into coma after facing brain damage.