List of June Month Banking Awareness – 2018:
1. Bharat Financial Inclusion Ltd (BFIL) has received approval from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for its merger with IndusInd Bank Limited (IBL).
2. Citi Bank is the first corporate bank to use the UK’s new Open Banking regime to enable its business clients to receive small payments directly from their UK customers’ bank accounts.
3. Reserve Bank of India (RBI) has increased the policy Repo Rate under the Liquidity Adjustment Facility (LAF) by 25 basis points to 6.25 percent in the Second Bi-monthly Monetary Policy Statement (2018-19).
4. According to a new trade report by the UN, Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled.
5. Reserve Bank of India (RBI) has made changes in the Gold Monetisation Scheme (GMS) to make it more attractive. The revamping of the scheme is aimed at enabling people to open a hassle-free gold deposit account.
6. The International Monetary Fund (IMF) welcomed the decision of the Reserve Bank of India (RBI) to increase the repo rate by 25 basis point to 6.25 percent. It was announced by International Monetary Fund (IMF) Spokesman Gerry Rice.
7. Reserve Bank of India (RBI) has stated that interest subsidy scheme on short-term crop loans of up to three lakh rupees will be implemented through the Direct Benefit Transfer (DBT) mode from the current financial year.
8. Reserve Bank of India (RBI) stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability.
9. According to the State Bank of India’s (SBI) Annual Report for the largest value share of mobile banking transactions, the top places are:
1. Paytm – 22 %
2. Axis Bank – 17.2 %
3. ICICI – 17.1 %
10. The Reserve Bank of India (RBI) released the draft guidelines to modify the loan system for delivery of bank credit, making the rules stricter to regulate larger borrowers enjoying working capital facility from the banking system.
11. HDFC Bank to raise additional share capital of up to a maximum of 24,000 crore rupees.
12. ICICI Bank and Axis Bank have inequalities in their risk control mechanisms and has revised down its outlook on the latter to negative on sour assets worries.
13. Muthoot Fincorp claims to have become the first major private sector player to partner with National Skill Development Corporation (NSDC) to launch the Pradhan Mantri Kaushal Vikas Yojana (PMKVY.2) a programme, to train over 10,000 youth over the next three years and make them job ready.
14. Insurance regulator IRDAI has formed a committee to review regulations governing the Insurance Marketing Firms (IMF). Such firms, which serve as a distribution channel for insurers, are governed by regulations announced about three years ago.
15. The World Bank has approved $700 million to help Bangladesh achieve its education for all vision by improving the primary education sector.
16. The Reserve Bank of India (RBI) has eased investment norms for Foreign Portfolio Investors (FPIs) in debt, especially into individual large corporates, a move that can help attract more overseas flows and thereby help arrest the recent fall in the rupee.
17. The Banks Board Bureau (BBB) has recommended 22 candidates from different banks for the Executive Director (ED) positions in PSU Banks.
18. The Reserve Bank of India (RBI) revised the upwards housing loan limits under Priority Sector Lending (PSL). Housing loans of up to Rs 35 lakh for residences costing less than Rs 45 lakh will now be treated as Priority Sector Lending (PSL) to give a boost to the low-cost segment.
19. The Export-Import Bank of India (Exim Bank) announced that it has extended $10 million worth of Line Of Credit (LOC) to Seychelles. This is for healthcare and procurement of goods and projects.
20. State Bank of India (SBI) is in the process of closing down nine foreign branches as part of the rationalization of overseas operations.
21. Bank of India also closed down operations in Yangoon and Bostwana.
22. Bank of Baroda and Indian Overseas Bank shut the Hong Kong branch.
23. Insurance Regulatory and Development Authority of India (IRDAI) has approved a proposal allowing Life Insurance Corporation (LIC) to acquire a majority stake in the IDBI bank.Exams RiderDownload Our Apps & Watch Latest News