Monthly One Liners - May 2021
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Monthly One Liners - May 2021 Monthly One Liners May 2021 Financial one liners- Banking & Finance Small Industries Development Bank of India (Sidbi) launched two quick-delivery schemes namely SHWAS (SIDBI assistance to Healthcare sector in War Against Second wave of Covid) and AROG (SIDBI Assistance to MSMEs for Recovery & Organic Growth during Covid). The schemes will help MSME with funds who are working to deal the second wave of pandemic Reserve Bank of India (RBI) imposed a monetary penalty of Rs.3 crore on ICICI Bank for non- compliance with its directions in the matter of shifting of securities from one category to another IDBI Bank is considering picking up a stake in the National Asset Reconstruction Company (NARCL) Page 1 of 49 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly One Liners - May 2021 Airtel Payments Bank announced that customers with savings account deposits of over Rs 1 lakh will get an increased interest rate of 6pcpca RBI announced second purchase of government securities worth Rs 35,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) which held on 20th May 21 for an orderly evolution of the yield curve as a fresh COVID-19 wave threatens to hit the economy Reserve Bank of India will provide a term-liquidity facility of ₹ 50,000 crore to ease access of funds for emergency medical services. The funds will be provided for a tenure of up to 3 years and this lending will get priority sector classification till repayment or maturity The Reserve Bank of India (RBI) Governor Shaktikanta Das announced a special long-term repo operation (SLTRO) for small finance banks, amid the second wave of COVID-19 cases in India. The central bank will conduct the special operation of Rs 10,000 crore at repo rate. The facility will remain open till October 31, 2021 Cabinet Committee on Economic Affairs gave its in-principle approval for strategic divestment and transfer of management control in IDBI Bank Ltd The Reserve Bank of India gave approval to Bajaj Finance for Prepaid Payment Business The European Investment Bank and the country’s largest lender SBI entered into a pact to jointly pump Euro 100 million in equity financing into Indian small businesses focused on climate change and sustainability. The Reserve Bank of India (RBI) said banks should lend to stakeholders in the COVID-related healthcare infrastructure and services within 30 days from the date of availing funds under the Rs 50,000 crore liquidity window. Page 2 of 49 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly One Liners - May 2021 HDFC Bank and Common Services Centers (CSCs) jointly announced the launch of chatbot Eva’ on CSC’s Digital Seva Portal to support Village Level Entrepreneurs (VLEs) in providing banking services for last-mile rural consumers Federal Bank, Mashreq Bank of UAE ink pact, to offer money transfer. Jana Small Finance Bank announced the launch of “I choose my number" feature for all its customers across India. The new feature gives the bank’s existing and new customers the option to select their favourite numbers as their savings or current account number Paytm Foundation donated 100 concentrators with oxygen generation plants to Gujarat Geojit Financial Services has entered into an agreement with Punjab National Bank to provide a three- in-one account to the latter's customers. The new service gives customers who have a savings account with PNB, a PNB demat account and Geojit trading account South Indian Bank launched video KYC to open an account PayPal has introduced an automated process to obtain monthly foreign inward remittance advice (FIRA), allowing Indian merchants to download their monthly digital FIRA issued by banks Airtel Payments Bank launched DigiGold, a digital platform for its customers to make investments in gold. DigiGold has been launched in partnership with SafeGold, a provider of digital gold ADB records totally USD 3.92 Billion loan to India in 2020 World Bank extended USD 80.5 million to Sri Lanka for COVID-19 vaccination drive RBI enable mobile wallets can be cash withdrawn from ATM & PoS terminals Ministry of Home Affairs (MHA) has permitted existing Foreign Contribution (Regulation) Act FCRA) account holders, including NGOs and associations, to open their “FCRA Account” in the New Delhi Main Branch (NDMB) of the State Bank of India up to June 30, 2021 Page 3 of 49 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly One Liners - May 2021 IDBI Bank announced the launch of its fully digitized loan processing system, offering over 50 products to MSME and agriculture sector HSBC India has launched digital banking solutions for its corporate customers. ‘HSBC SmartServe and HSBC IntelliSign’ are the name of the products Equitas mall Finance Bank has touched a new milestone by becoming the first Small Finance Bank to offer its NRI customer segment the ease of account opening online RBI has imposed monetary penalty on City Union Bank, Tamilnad Mercantile Bank, Nutan Nagarik Sahakari Bank, Ahmedabad and Daimler Financial Services India Private Limited Pune Reserve Bank of India (RBI) will transfer Rs 99,122 crore as surplus to the central government for the nine months ended March 31 (July 2020-March 2021). Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announced the launch of a hyper-flexible savings plan - ABSLI Vision Life Income Plus Plan that provides guaranteed regular income plus flexible bonus pay-outs The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services and financial institutions in the International Financial Service Centres (IFSCs) in India. Internet tech giants including Facebook, WhatsApp, and Twitter could be in trouble as they are yet to fully comply with the new IT rules announced by the Government in February. Amazon.com Inc said that it is buying MGM, the fabled US movie studio home to the James Bond franchise, for 8.45 billion US Dollars. US-based helicopter transport services provider Blade's Indian subsidiary announced the launch of medical emergency services across the country, amid an increasing demand for air ambulance services in the wake of the pandemic. Page 4 of 49 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly One Liners - May 2021 ICICI Bank officially revealed the debut of a one-of-a-kind feature that allows users to link their UPI (Unified Payments Interface) IDs to their digital wallet ’Pockets’. Tata Consultancy Services stated it has been listed among top 25 Best Big Companies to work for in the United Kingdom and among the Best Companies in the Consultancy sector. Barclays has pegged India’s economic growth for fiscal 2021-22 (FY22) – as measured by gross domestic product (GDP) – at 7.7 per cent in the bear-case scenario, if the country is hit by the third wave of the Covid pandemic going ahead. Banking technology startup Zeta has raised $250 million from Japanese investment major SoftBank at a valuation of $1.45 billion, its co-founder and chief executive Bhavin Turakhia. The National Payments Corporation of India (NPCI) has partnered with a Turkish global payment solutions company PayCore as a certified partner for RuPay Soft POS to promote contactless payments across the country. The Indian Broadcasting Foundation (IBF), the apex body of broadcasters, is being renamed Indian Broadcasting and Digital Foundation (IBDF), as it expands its purview to cover digital platforms to bring all digital over-the-top streaming firms under one roof. State-run Canara Bank’s board approved a plan to raise up to Rs 9,000 crore in the current financial year (FY22), of which Rs 2,500 crore will be through a Qualified Institutional Placement (QIP), to meet regulatory norms and support growth. The Reserve Bank of India (RBI) imposed a Rs.10 crore fine on private sector lender HDFC Bank Ltd for selling vehicle-tracking devices to its auto loan customers. YES BANK announced the implementation of TransUnion’s onboarding solution. Recently Punjab National Bank (PNB) and PNB Housing Finance have stepped into a new agreement. Indian Farmers Fertiliser Cooperative (IFFCO) will launch Nano Urea in the market next month. Page 5 of 49 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly One Liners - May 2021 Digital payments provider Paytm is all set to make its market debut as early as this year, with an aim to raise $3 billion (around Rs 22,000 crore). Public sector banks in India have announced various support measures and launch of new loan products to mitigate the impact of Covid pandemic. Non- Financial One Liners National News As a special dispensation, the Centre has released in advance over Rs 8873 crore for State Disaster Response Fund (SDRF) to all the States. On the occasion of the 151st birth anniversary of the father of Indian cinema, Dadasaheb Phalke, the National Film Archive of India (NFAI) has published a rich treasure of audio recordings in the public domain.