CURRENT AFFAIR Bank of Baroda Partners with Invoicemart as a TReDS Partner

CURRENT AFFAIR

• Bank of Baroda Partners with Invoicemart as a TReDS Partner

Digital invoice discounting marketplace - Invoicemart has tied up with state-run lender Bank of Baroda to discount invoices for MSMEs. Buyers and sellers registered in the marketplace will now be able to access funding from Bank of Baroda.

Invoicemart is a joint venture between Axis Bank Ltd and junction services ltd. Bank of Baroda had recently announced that it was stepping up its focus on supply chain financing. TReDS is an online mechanism that helps MSMEs unlock working capital without the hassle of applying for loans.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-

• Invoicemart  CEO & MD- Kalyan Basu.
• Bank of Baroda Chairman- Ravi Venkatesan, Managing Director & CEO- P.S.Jayakumar.
• TReDS stands for Trade Receivables Discounting System.

• Vice Admiral A B Singh Takes Over as Chief of Staff Western Naval Command

  
  

  Vice Admiral Ajendra Bahadur Singh, took over as Chief of Staff, Western Naval Command from Vice Admiral Ravneet Singh. Vice Admiral AB Singh was the Deputy Commander-in-Chief, Strategic Forces Command prior to his current appointment.

  
  

  He was Promoted to Flag Rank in 2012. The Flag Officer was awarded Vishisht Seva Medal in 2011 and Ati Vishisht Seva Medal in 2016 for his exemplary service to the nation.

  
  

  Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-

  • Admiral Sunil Lanba is the present Chief of Naval Staff.

  
  

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