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November 2019 22nd Year of Publication Registration RNI No.67802/98 BBBankingankinganking Volume - XXII No.11 : November 2019 events UUUpdatepdatepdate Contents of this Issue BANKING POLICY : 2 & 3 • Lending by banks to InvITs • Expending Digital Payment Ecosystem • Central Information- Bkg infra BANKING FEATURES : 4-6, 16 • DICGC • Sovereign Gold Bond Scheme • On-tap authorization - Payment Sys DIARY OF EVENTS : Oct-2019: 7 • Policy, Economy • Banking Developments • Capital Markets & Insurance General Awareness : 11-12 Those who win, are those, who think they can Multi-Option questions:13-15 Corporate & Distribution Office Data Bank : 16 1008, Sector 45-B, Chandigarh Phone 0172 2665 623 eMail - bankingupdate123 @ gmail.com www.bankingindiaupdate.com Executive Editor - S. Chand Singh Editor in Chief - Sh. N S Toor 2 ♦ Banking events updatE ♦ November 2019 ANKING Lending by banks to InvITs same to concerned Regional Offices/ Sub- BPOLICY As per RBI circular dated 18.04.17, banks can Offices of the Reserve Bank of India. invest in units of InvITs subject to the specified conditions. Bank / Branch details under the Central Banks and other stakeholders have been seeking clarity on provision Information System for Banking of credit facilities to InvITs. RBI examined and decided (14.10.19) Infrastructure (CISBI) that banks can lend to InvITs subject to the following conditions: RBI maintains the directory of all bank i) Banks shall put in place a Board approved policy on exposures branches / offices / Non-Administratively to InvITs which shall inter alia cover the appraisal mechanism, Independent Offices (NAIOs) / Customer sanctioning conditions, internal limits, monitoring mechanism, etc. Service Points (CSPs) in India, [known as the ii) Without prejudice to generality, banks shall undertake assessment “Master Office File” (MOF) system], which of all critical parameters including sufficiency of cash flows at is updated based on Proforma-I and Proforma- InvIT level to ensure timely debt servicing. The overall leverage II, submitted by banks through e-mail. The of the InvITs and the underlying SPVs put together shall be within system allots Basic Statistical Return (BSR) the permissible leverage as per the Board approved policy of the code / Authorised Dealer (AD) code to bank banks. Banks shall also monitor performance of the underlying branches / offices / NAIOs / CSPs. SPVs on an ongoing basis as ability of the InvITs to meet their Consistent with the needs of branch licencing debt obligation will largely depend on the performance of these and financial inclusion policies as well as the SPVs. As InvITs are trusts, banks should keep in mind the legal need for requisite coverage of additional provisions in respect of these entities especially those regarding dimensions / features, a new reporting system, enforcement of security. viz., Central Information System for Banking iii) Banks shall lend to only those InvITs where none of the Infrastructure (CISBI) (https:// underlying SPVs, which have existing bank loans, is facing cisbi.rbi.org.in), has been web-deployed by ‘financial difficulty’. RBI (11.10.19) to replace the legacy MOF iv) Bank finance to InvITs for acquiring equity of other entities system. shall be subject to the conditions. Under the new system, all co-operative banks v) The Audit Committee of the Board of banks shall review the are required to submit their information in a compliance to the above conditions on a half yearly basis. single Proforma online on CISBI portal, as Expanding and Deepening of Digital Payments Ecosystem compared with the earlier system of submitting With a view to expanding and deepening the digital payments Proforma-I & Proforma-II separately through ecosystem, RBI decided (07.10.19) that all State/ UT Level e-mail. All the past information reported by Bankers Committees (SLBCs/ UTLBCs) shall identify one district banks has been migrated to CISBI and in their respective States/ UTs on a pilot basis in consultation additional information should be reported in with banks and stakeholders. The identified district shall be allotted CISBI henceforth. The CISBI portal contains to a bank having significant footprint which will endeavour to the relevant circulars, user manuals and other make the district 100% digitally enabled within one year, in order relevant documents to facilitate reporting. to enable every individual in the district to make/ receive payments RBI has provided login credentials to Nodal digitally in a safe, secure, quick, affordable and convenient manner. Officers of banks for submitting their This would, inter alia, include providing the necessary information in CISBI. Banks should submit infrastructure and literacy to handle such transactions. information on CISBI portal as per guidelines SLBCs/ UTLBCs shall endeavour to ensure that to the extent and thereafter bank branch / office / NAIO / possible, districts identified are converged with the CSP codes would be allotted by CISBI after ‘Transformation of Aspirational Districts’ programme of the due validations. In case of status change, banks Government of India. The allotment of the identified district to a need to edit only the relevant part. All co- bank should be done, as far as possible, through mutual operative banks should submit immediately and consultation and voluntary acceptance by the bank. in any case not later than one week, the Further, SLBC/ UTLBC Convenor Banks are to monitor the information relating to opening, closure, progress made in this regard on a quarterly basis and report the merger, shifting and conversion of bank branches / offices / NAIOs / CSPs online (COMPILATION- SAPANDEEP TOOR & MANJOT TOOR, - on the basis of information available on RBI Website) Banking events updatE ♦ November 2019 ♦ 3 through CISBI portal. To ensure correctness of data on CISBI, in the last week of Video Lessons every month, banks shall generate a ‘NIL Report’ in CISBI CAIIB-JAIIB-Promotion Exam for position as on last day of the previous month, indicating B-Sheet Analysis the total number of functioning branches, offices, NAIOs, CSPs; and submit it through CISBI after authenticating its Certified Credit Professionals correctness. Banks can also use the facility to access / Foreign Exchange Operations download the data related to them. • Use lap top / Smart Phone, as our class room RBI further advised that CISBI also has provision to maintain • No travelling - no boarding/lodging charges complete bank level details (e.g. bank category, bank-group, • Learn as per your time and place convenience bank code, type of license issued, registration details, area • Watch any video any no. of times during validity of operation, addresses of offices, contact details of senior officials, etc.) and history of all the changes with time stamp. www.bankingindiaupdate.com After gaining first time access of the system, banks shall ensure to submit correct and updated Bank Level information in all the fields where submission / updation rights are available with the bank. After initial submission of information CORRESPONDENCE on CISBI portal, a one-time confirmation stating that “Correct COURSE and updated Bank level information has been submitted on CISBI” shall be sent by banks to the concerned Regional Office of Department of Co-operative Bank Supervision PROMOTION EXAM Based on latest trends of IBPS exam. A large no. of bankers within one month of issuance of this circular. Any subsequent already succeeded by using the course material. If unable to changes in the bank level information shall be submitted for attend class room program, this is the best option. updation on the CISBI portal on immediate basis by the banks. Course Kit : The course kit include: (a) subject-wise basic study material, Wholesale Price Index (WPI) (b) assignment to improve retention WPI measures the average change of the price of a fixed (c) objective type practice exercise set of goods at first point of bulk sale in a commercial (d) recalled questions (e) mock test papers. transaction in the domestic market over a given period of Fee : May differ from bank to bank. May be checked before time. The monthly WPI presented in the table are compiled remittance). Fee to be paid in advance. and published by the Office of the Economic Adviser, under How to enrol : Call us at the numbers given below. the Ministry of Commerce and Industry, Govt. of India. The current WPI series (Base 2011-12 = 100) has 697 items in the commodity basket, for which 8,331 price CAIIB/JAIIB quotations are obtained. All items having large transactions Course is based on exam pattern of IIB&F. A large no. of in the economy are considered for compilation of the index candidate have succeeded in all 3 papers in first attempt with to the extent feasible. Thus the series has a representative our study material. Course Kit : The course kit include: basket of commodities as well as their varieties/grades and (a) subject-wise basic study material, markets. These items are aggregated at sub-group/group/ (c) objective type practice exercise major group/all commodities index. (d) mock test papers. The first release of monthly WPI is generally after two Fee : Fee differs for different papers. Fee payable in weeks at the month-end, which is ‘provisional’ in nature advance, for which details may be obtained by calling because some price quotations are received belatedly. The 01722665623 . How to enrol : To enrol, advise name, address for ‘final’ index is released a month after the provisional index, correspondence, eMail id, mobile phone, bank name, subjects as by that time almost all the required price quotations for enrolment. become available. The index numbers are compiled on the basis of Laspeyres’ DS Institute of Banking formula as weighted average of price relatives. Office:SCO No.32, Sector 33-D, Chandigarh 160 020 • Phone: 0172-2665623, 09988221167 4 ♦ Banking events updatE ♦ November 2019 BANKING FEATURES Deposit Insurance and Credit Guarantee Eligible deposits: Corporation (DICGC) DICGC insures all bank deposits, such as savings, fixed, The functions of DICGC are governed by “The Deposit current, recurring, etc.
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