May Month Banking Awareness – 2018

List of May Month Banking Awareness – 2018:

1. Common Service Centre (CSC) SPV and Small Industries Development Bank of India (SIDBI) signed an agreement for providing financial support to CSCs across the country. Through the MoU, the SIDBI seeks to extend financial support to the Village Level Entrepreneurs (VLEs) of CSCs, with minimum one year of operation, under the Direct Financing Window of SIDBI.

2. Bank of Baroda successfully located most of its operational activities at a shared service center (SSC) at the GIFT City near Ahmedabad. The bank will now offer its services including retail loan processing, deposit account opening, forex and call center from the SSC, which will have a staff strength of 200.

3. Bank of Baroda has successfully located most of its operational activities at a Shared Service Centre (SSC) at the GIFT City near Ahmedabad.

4. Reserve Bank of India (RBI) has slapped a Rs.5 crore penalty on South Indian Bank for violation of bad loan classification, know-your-customer (KYC) guidelines, treasury functions and other non-compliances.

5. BSE Ltd became first Indian exchange to be designated as Designated Offshore Securities Market (DOSM) by United States Securities and Exchange Commission (US-SEC).

6. YES Bank and YES Global Institute have launched Agenda 25×25, which pledges to create a synergetic startup environment for budding women entrepreneurs in India.

7. Fino Payments Bank launched a suite of digital products that can be accessed online and through mobile phones with the focus to build the transaction platform.

8. Paytm introduced automatic recurring payments, a new feature that lets users configure the payments app to pay for periodic recurring expenses automatically.

9. The Industrial and Commercial Bank of China (ICBC) has launched the country’s first India-dedicated publicly offered investment fund. The name of the fund is ICBC Credit Suisse India Market Fund.

10. YES Bank is all set to roll out a capacity building project with farmers in Haryana and Rajasthan under its “Livelihood and Water Security” CSR initiative.

11. According to the Joint Plant Committee report, India’s total export of finished steel increased by 16.7% to 9.6 million tonnes, in 2017-18.

12. Asian Development Bank (ADB) Chief Economist Yasuyuki Sawada stated India’s projected GDP growth of over 7 percent for the current fiscal (2018-19) is amazingly fast and if this momentum is maintained the size of the economy can double within a decade.

13. The Government of India signed a loan deal worth USD 200 million with the World Bank for the National Nutrition Mission (POSHAN Abhiyaan).

14. Reserve Bank of India (RBI) has directed banks authorized to deal in foreign exchange (Authorised Dealer-I Banks) to share data with the Directorate of Revenue Intelligence (DRI).

15. Reserve Bank of India (RBI) announced that, it will buy Rs 10,000 crore of government bonds through Open Market Operation (OMO).

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