Explanation: The Company Law Committee (CLC) was indeed established by the Ministry of Corporate Affairs in 2019. Its mandate includes exploring regulatory measures tailored to startups and addressing corporate governance issues. This initiative aims to create a more conducive environment for startups while ensuring robust governance practices

Explanation: P.R. Seshadri has been appointed as the Managing Director and CEO of South Indian Bank, with the appointment set to take effect from October 1. His prior experience includes serving as MD & CEO of Karur Vysya Bank, as well as holding significant roles at Citibank. This appointment reflects his extensive experience in the banking sector.

Explanation: International Finance Corporation (IFC) is set to invest up to $100 million in IIFL Home Finance Limited (IIFL HFL) to increase access to housing finance for economically weaker sections (EWS) and low-income groups (LIG), including women borrowers in India. This investment aims to catalyze India’s affordable housing sector, foster eco-friendly construction practices, and contribute to India’s climate objectives.

Explanation: Hitachi Payment Services, a subsidiary of Japan-based Hitachi, introduced India’s first UPI-ATM in partnership with the National Payments Corporation of India (NPCI) during the Global Fintech Fest in Mumbai. This UPI-ATM allows customers to withdraw cash without the need for a debit or credit card. The Unified Payments Interface (UPI) is a mobile payment method operated by NPCI that enables instant and free fund transfers between bank accounts.

Explanation: The Finance Ministry notified the constitution of 31 Appellate Tribunals across 28 States and eight UTs for the Goods and Services Tax (GST). The tribunals were set up to resolve a growing number of taxpayer disputes with the Revenue Department. Of the 31 Benches in 28 States and UTs, the highest number is in Uttar Pradesh.

Explanation: PhonePe announced the launch of the Indus Appstore developer platform as a Made-in-India app store. Currently, app developers work primarily with the Google Play Store. For startups and new app launches, the Indus Appstore will feature a dedicated destination called ‘Launch Pad’ to provide these new apps with better visibility.