ambitiousbaba.com Online Test Series

Best Online Test Series Site for | JAIIB | CAIIB | RRB NTPC | SSC and State Government 1 Jobs ambitiousbaba.com Online Test Series

Banking and Financial News PDF 2021 Index No. of Topic Topic Name Topic 1 List of who has been imposed penalty by RBI in 2021

Topic 2 List of Banks whose licence has been canceled by RBI in 2021

Topic 3 Important Committee (Feb to July) Topic 4 List of Merger and Acquisition (Covered Feb to July) Topic 5 List of Partnership/Agreement (Covered Feb to July) Topic 6 List of loan agreement for India from different organizations 2021 Topic 7 Union Budget 2021-22: Highlights Topic 8 RBI Annual Report 2021 Topic 9 Banking & Financial News (Feb to July) Topic 10 India’s GDP Growth Forecast FY 21 and 22 by various Financial Organizations (last Update 10 August 2021)

Topic 1: List of Banks who has been imposed penalty by RBI in 2021 (Covered January to July) RBI slaps penalty of Rs 2 crore on Standard The Reserve (RBI) has imposed Chartered Bank a monetary penalty of Rs 2 crore on Bank–India for delays in reporting of frauds. The penalty has been imposed on the bank for non-compliance with certain directions issued by it contained in the ‘" Directions 2016’. RBI fines Bajaj Finance Rs 2.5 crore for The Reserve Bank of India (RBI) has imposed recovery agent harassment Rs 2.50 crore monetary penalty on Bajaj Finance for violating RBI’s directions on fair practices code (FPC) and outsourcing of financial services by a non-banking financial company. RBI slaps Rs 2 crore fine on The Reserve Bank of India has imposed a for non-compliance penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 2 Jobs ambitiousbaba.com Online Test Series

RBI imposed Rs 2 crores penalty on SBI for Reserve Bank of India on March 16, 2021 paying commission to employees imposed a penalty of Rs 2 crore on (SBI) for contravention of norms, including specific directions to the lender on remuneration to its employees in the form of commission. The penalty has been imposed for contravention of certain sections of Banking Regulation Act and its specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission.

RBI imposed a Rs 3-cr penalty on ICICI Bank The Reserve Bank of India (RBI) on 3rd May for violating prudential norms fined ICICI Bank Rs 3 crore for violating prudential norms on the operation of its investment portfolio. RBI imposes a penalty on , 3 The RBI has imposed monetary penalty on other lenders City Union Bank, Tamilnad Mercantile Bank and two other lenders for contravention of certain directions issued by the . A penalty of Rs 1 crore has been imposed on City Union Bank Limited for contravention of/non-compliance with certain provisions contained in the RBI (Lending to MSME Sector) Directions and Rs 1 crore on Tamilnad Mercantile Bank for non-compliance. RBI imposed Rs 10 crore penalty on HDFC The Reserve Bank has imposed a penalty of bank over irregularities in auto loan Rs 10 crore on HDFC Bank for deficiencies in portfolio regulatory compliances with regard to its auto loan portfolio. The order imposing the fine was issued on May 27 for contraventions of certain provisions of the Banking Regulation Act, 1949. Reserve Bank imposed penalty on Bank of The RBI on 7th June imposed penalty India, PNB totalling Rs 6 crore aggregating to Rs 6 crore on Bank of India and for contravention of norms, including one related to "Frauds Classification and Reporting". A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 3 Jobs ambitiousbaba.com Online Test Series

RBI imposed Rs 25 lakh penalty on Punjab & The Reserve Bank of India imposed a penalty Sind Bank of Rs 25 lakh on Punjab and Sind Bank for non-compliance with certain provisions of directions on ‘Cyber Security Framework in Banks. This penalty has been imposed in the exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949. RBI imposed monetary penalty on 14 banks The RBI on 8th July said it has imposed for non-compliance penalties on SBI, , IndusInd Bank, and 10 other lenders for contravention of various regulatory norms, including on lending to NBFCs. The penalty imposed on the 14 banks totals Rs 14.5 crore, with a maximum Rs 2 crore fine on Bank of Baroda. Note: Rs. 2Cr: Bank of Baroda. Rs. 1Cr: Bandhan Bank, , , Credit Suisse AG, , IndusInd Bank, , , Punjab and Sind Bank, , The Jammu & Kashmir Bank, and Utkarsh . Rs 50 lakhs: SBI RBI fined Rs 5 crore for non- The Reserve Bank of India (RBI) on 28th July compliance with certain rules imposed Rs 5-crore fine on Axis Bank for non-compliance with certain provisions of the central bank's norms on payment ecosystem between banks as a corporate customer, cyber security, and financial inclusion norms.

Topic 2: List of Banks whose licence has been canceled by RBI in 2021 (Covered January to July) RBI cancels the licence of The Reserve Bank of India (RBI) has cancelled the Vasantdada Nagari Sahakari Bank licence of Vasantdada Nagari Sahakari Bank Ltd., Osmanabad, Maharashtra to carry on banking business, with effect from the close of business on January 11. Osmanabad, Maharashtra is prohibited from conducting the business of ‘banking’ which includes acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 4 Jobs ambitiousbaba.com Online Test Series

RBI cancels license of Kolhapur's The RBI on 30th Jan said the licence of Maharashtra- Shivam Sahakari Bank due to based Shivam Sahakari Bank has been cancelled as it inadequate capital does not have adequate capital and earning prospects.

Reserve Bank of India (RBI) will Reserve Bank of India (RBI) has issued a show-cause Cancel the Licence of Sambandh notice prior to cancelling the licence of fraud-hit Finserve Sambandh Finserve Pvt Ltd. after its networth eroded below the regulatory minimum and financial situation worsened beyond redemption over the recent months. Sambandh is registered as an NBFC-MFI. The Managing Director and CEO of Sambandh, Deepak Kindo, who was allegedly the main perpetrator of the fraud, has been arrested by Economic Offence Wing, Chennai.

RBI canceled licence of United Co- Reserve Bank of India (RBI) has cancelled the licence operative Bank of United Co-operative Bank Ltd over inadequate capital, regulatory non-compliance, based in Bagnan, West Bengal. RBI said it cancelled the licence as United Co-operative Bank did not have adequate capital and earning prospects. "As such, it does not comply with the provisions of section 11(1) and section 22(3)(d) read with section 56 of the Banking Regulation Act, 1949.

RBI cancelled license of Pune-based The Reserve Bank of India (RBI) has cancelled the cooperative bank licence of Shivajirao Bhosale Sahakari Bank, Pune as the lender does not have adequate capital and earning prospects. As such, it does not comply with the provisions of section 11(1) and section 22 (3) (d) read with section 56 of the Banking Regulation Act, 1949. The bank has failed to comply with the requirements of section 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with section 56 of the Banking Regulation Act, 1949. "Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 31, 2021.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 5 Jobs ambitiousbaba.com Online Test Series

RBI's ban on Mastercard may hit Card issuance by banks and credit card issuers that card issuance of private lenders have co-branded credit cards with vendors on the Mastercard platform or exclusive tie-ups with the payment network for their own credit card issuance will take a hit for the time being now that the Reserve Bank of India (RBI) has barred Mastercard from onboarding new customers over non-compliance with local data storage regulations.

RBI canceled licence of Dr The Reserve Bank of India (RBI) has cancelled the Shivajirao Patil Nilangekar Urban licence of Dr Shivajirao Patil Nilangekar Urban Co- Co-operative Bank operative Bank Ltd, Nilanga, Latur, as it does not have adequate capital and earning prospects.

RBI canceled licence of Goa-based Reserve Bank of India (RBI) has cancelled the licence Madgaum Urban co-op bank. of Goa-based Madgaum Urban Cooperative Bank, with effect from July 29, 2021. RBI said the decision was taken as the bank doesn't have adequate capital and earning prospects, and its would be unable to pay its present depositors in full in its present financial position.

Topic 3: Important Committee (Covered Feb to July

June, 2021

Committee Headed by Purpose

Variable Capital K.P. Krishnan Dr. K.P. Krishnan committee on “Variable Company Capital Company” has submitted its report to International Financial Services centres Authority (IFSCA) regarding feasibility of Variable Capital Companies in International Financial Services Centres in India.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 6 Jobs ambitiousbaba.com Online Test Series

Four-member N. K. Sodhi SEBI has reconstituted its four- Takeover Panel by member Takeover Panel Under the SEBI chairmanship Former Justice N. K. Sodhi, which looks into the applications that seek exemption from the mandatory open offer that an acquirer needs to make to minority shareholders.

Members of the Panel are:

• Chairman: N. K. Sodhi

• Member: Darius Khambata

• Member: Thomas Mathew

• Member: N Venkatram High-level Recently, a high-level committee has been committee for formed for the consultations on the creation of consultations on integrated triservice theatre commands. The theatre commands committee will examine all issues and find a way forward before a formal note on their creation is sent to the Cabinet Committee on Security. The Shekatkar committee (in 2015) had recommended the creation of 3 integrated theatre commands — northern for the China border, western for the Pakistan border, and southern for the maritime role.

(May, 2021)

Committee Headed by Purpose

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 7 Jobs ambitiousbaba.com Online Test Series

Advisory group to assist S Janakiraman The committee will assist the authority to the second Regulatory identify areas, guidelines, regulations and Review Authority (RRA returns. It will submit reports periodically 2.0) to RRA that will provide suggestions and recommendations.

RRA 2.0 was established in April 2021. The authority is to function for a period of one year. It will review the regulatory prescription internally. Also, it will examine and suggest changes required in the dissemination process of RBI instructions and circulars.

IFSCA’s expert Nilesh Shah The International Financial Services committee on Centres Authority, IFSCA has constituted Investment Funds an expert committee on Investment Funds. The Committee under the Chairmanship of Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Co. Ltd, will recommend the road map for the funds industry in the International Financial Service Centres, IFSCs. The Committee comprises leaders from the Fund Management sector.

April, 2021

Committee Headed by Purpose

Regulations Review M Rajeshwar Rao The Reserve Bank of India Authority (RRA 2.0) (RBI) will set up a new Regulations Review Authority (RRA 2.0) from May 1, 2021, to review the regulations, circulars, reporting systems and compliance procedures of the central bank for streamlining them and making them more effective. The RRA will be set up for a period of one year unless the timeline is extended by the RBI.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 8 Jobs ambitiousbaba.com Online Test Series

Asset Reconstruction Sudarshan Sen The Reserve Bank of India Companies (ARC) recently set up a committee to study about the Asset Reconstruction Companies (ARC) in the country. The committee will evaluate the role of ARCs in debt resolution and will review their business model.

The Committee will also review the role of ARC in stressed asset resolution under the IBC (Insolvency and Bankruptcy Code).

March 2021

Committee Headed by Purpose

Panel to Evaluate Bank Shyamala Gopinath The Reserve Bank of India (RBI) has set Applications up a “standing external advisory committee (SEAC)” on March 23, 2021. This panel will evaluate the applications for the universal banks and small finance banks (SFBs).

This committee comprises of five members.

February-2021

Committee Headed by Purpose

Expert Committee on Urban N. S. Vishwanathan The committee is being set in co-op Banks by RBI accordance with the provisions of the Banking Regulation (Amendment) Act, 2020. The act became applicable to the Primary or the Urban Co-operative Banks (UCBs) from June 26, 2020.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 9 Jobs ambitiousbaba.com Online Test Series

Topic 4: List of Merger and Acquisition (Covered Feb to July)

Merger and Acquisition (February) Merger Company About DHFL was sent to bankruptcy court in December Acquisition of Diwan Housing Finance 2019 after the company defaulted to its lenders Corporation (DHFL) by Piramal Capital And on debt worth Rs 90,000 crore. Housing Finance Piramal’s plan is to recover Rs 37,250 crore over the next five years for DHFL’s lenders.

Merger and Acquisition (March) Merger Company About Wipro announced that it has signed an agreement to acquire Capco, a global management and Acquisition of global tech company technology consultancy providing digital, Capco by Wipro consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific for $1.45 billion.

Merger and Acquisition (April)

Merger Company About

Hitachi Ltd said on 31st March, it will buy U.S. software company GlobalLogic Inc for $9.6 billion, as the Japanese industrial conglomerate aims to expand from electronics hardware to digital services. Hitachi will buy US software developer GlobalLogic The acquisition is part of Hitachi’s ongoing business portfolio overhaul, which includes the $7 billion acquisition of ABB Ltd’s power grid business last year and a series of divestitures of its domestic hardware subsidiaries.

Merger and Acquisition (May)

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 10 Jobs ambitiousbaba.com Online Test Series

Merger Company About

Indian renewable energy company Adani Green Energy Ltd (ADNA.NS) said on 19th May it would buy SoftBank Group Corp-backed (9984.T) SB Energy Holdings Limited for an enterprise value of $3.5 billion. India's Adani Green will buy It would buy the 80% stake held by SoftBank Group Capital SoftBank-backed SB Energy Limited and the rest owned by Indian conglomerate Bharti Global Limited in a cash deal. The deal would allow Adani Green to achieve its targeted renewable portfolio of 25 gigawatts (GW) four years ahead of its expected timeline. Tata Digital has acquired a majority stake in online grocery BigBasket, a deal that pits the country’s largest Tata Digital acquired 64% stake conglomerate against entrenched e-commerce players. in BigBasket Regulatory filings showed that it has acquired around 64% stake in Supermarket Grocery Supplies that owns BigBasket.

Merger and Acquisition (June) Merger Company About

BharatPe has acquired a multi-brand loyalty platform, PAYBACK India, to help its 6 million offline merchants roll out BharatPe acquired loyalty platform rewards and loyalty programmes for customers. PAYBACK India The acquisition is expected to give an exit to American Express and ICICI Investments Strategic Fund, which hold 90% and 10% stake respectively in the entity. HDFC Bank all set to buy all Shares from parent company to group firm HDFC ERGO General Insurance Company Housing Development Finance Corporation (HDFC).These shares are HDFC Bank will buy stake in ‘Ergo worth Rs 1,906.43 crore This means that their total return is Rs General Insurance’ and ‘Borderless 536 per share. Softtech’ HDFC Bank along with its subsidiary HDFC Securities will buy 8,108 Compulsory Convertible Cumulative Preference Shares (CCCPS) face value of Rs 6.9 crore of Borderless Softtech at a premium of Rs 606.60 at Rs 6.16.60 per piece.

Merger and Acquisition (July)

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 11 Jobs ambitiousbaba.com Online Test Series

Merger Company About

Adani Group led by Gautam Adani has completed the takeover of ‘Mumbai International Airport’ from GVK group. Adani Group has taken over Adani Airport Holdings presently own a 74% stake in Mumbai Mumbai Airport International Airport. India is going to become world’s third largest aviation market by 2024. Microsoft has reached a deal to acquire RiskIQ, a San Francisco-based provider of cybersecurity services, including Microsoft acquired cybersecurity malware and spyware monitoring and mobile app security. firm RiskIQ Microsoft has valued the deal paying more than $500 million for RiskIQ. Edtech major Byju's has acquired US-based kids learning platform Epic in a $500 million cash-and-stock deal, making Byju's acquired US edtech firm Epic this its second-biggest acquisition after it bought brick-and- mortar coaching network Aakash Institute for close to $1 billion earlier this year. The Reserve Bank of India has accorded its approval to the Government of the Union Territory (UT) of Ladakh to acquire 8.23 per cent of the paid-up equity capital of Jammu and Kashmir Bank Ltd as on the date of enforcement of Jammu and Govt of UT of Ladakh will acquire Kashmir Reorganisation Act, 2019 ( October 31, 2019). 8.23% stake in J&K Bank This move follows the Government of Jammu and Kashmir’s October 30, 2020, Order regarding the transfer of 8.23 per cent shareholding (about 4.58 crore equity shares) in Jammu and Kashmir Bank as of October 31, 2019, to the UT of Ladakh.

Topic 5: List of Partnership/Agreement (Covered Feb to July) Partnership/Agreement (February) Partnership/Agreement Aim

To cooperate in software, artificial intelligence and cloud computing, to develop new consumer services and modernize internal operations. Ford Motor joins hand with Alphabet Inc’s Google The automaker will deploy Google artificial intelligence technology to improve the efficiency of vehicle development, supply chain and manufacturing operations.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 12 Jobs ambitiousbaba.com Online Test Series

To explore potential synergies in several strategic areas of aviation services, including Airbus Signed an MoU with GMR Group maintenance, components, training, digital and airport services. The MoU was signed at Aero India 2021. Under the Prime Minister Street Vendor’s AtmaNibhar Nidhi (PM SVANidhi) Scheme. Ministry of Housing and Urban Affairs Under the MoU, it was decided to onboard the (MOHUA) and Zomato signed an MoU street food vendors on the food-tech platform of Zomato. This would help the street food vendors to access online the thousands of consumers. For creation of JATP–Center of Excellence (JATP – CoE) in the premises of IISc to expand the MoU between DRDO and IISc Bengaluru scope and objective of existing Joint Advanced Technology Program. To create awareness for energy-efficient pump sets and operational practices so as to adopt energy and resource-efficient approaches. MoU between Indian Council of Agricultural Research (ICAR) and Bureau Improving fuel efficiency and water resource use of Energy Efficiency (BEE) efficiency thereby reducing the cost of cultivation so as to increase farmers' income in harmony with strategies of "Per drop more crop" and "Doubling Farmers' income". On a Unified Payments Interface (UPI) multi- bank model. The partnership will provide PhonePe partners with Axis Bank PhonePe users with the option to create and use multiple UPI IDs with Axis Bank’s “@axl” handle. For implementation of the e-Challan within the jurisdiction of the Shillong Traffic Police (STP). Meghalaya police inked MoU with SBI The system has been integrated with VAHAN & SARATHI applications. To provide up to Rs 2 crore to the oil company's dealers.

PNB inked deal with Indian Oil The MoU would benefit dealers with credit facilities at lower interest rates, nil margin, and with minimum or zero collateral requirements through the PNB e-Dealer scheme.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 13 Jobs ambitiousbaba.com Online Test Series

in order to establish a facility to manufacture the mobile components. Tata Electronics inked MoU with Tamil The project by the Tata Electronics will cost Rs Nadu 4684 crores. It will be established in Krishnagiri to manufacture the mechanical enclosures of mobile phones. in order to establish a paint manufacturing unit at Tamil Nadu signed an MoU with the Grasim Cheyyar. Industries It will be established with an investment of Rs 750 crore. to offer its customers the ‘Group SafeGuard’ insurance, a group health insurance policy. The ICICI Lombard partners with Flipkart ‘Group SafeGuard’ comes with daily cash benefits starting from Rs 500, and ‘Hospicash’ benefit for Flipkart consumers. for setting up a Centre of Excellence on Indian Oil Corporation (IOC) signed a pact Hydrogen (CoE-H). with Greenstat Norway National hydrogen mission to accelerate plans to generate the carbon-free fuel from renewables. to invest Rs 5,500 crore in Noida in the coming seven years to generate employment for thousands IKEA signed an MoU with UP govt of people in the state. The company will be developing shopping mall, hotel, offices and retail areas in 5 lakh sq ft.

Partnership/Agreement (March) Partnership/ Agreement Aim

The Goa state government has collaborated with IBM to provide free skills training to the youth. The Goa Government joined hands with collaboration aims to upskill 10,000 learners across 10 IBM institutions over one year in the state. IBM will work with the director of technical education, Goa. National Payments Corporation of India (NPCI) and SBI Payments have partnered to launch “RuPay SoftPoS” for NPCI partnered SBI Payments Indian merchants. The RuPay SoftPoS solution will provide a cost-effective acceptance infrastructure to retailers at a nominal cost.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 14 Jobs ambitiousbaba.com Online Test Series

IBM announced a collaboration with Samagra Sikhsha Uttarakhand, the Government of Uttarakhand's education mission, to introduce the 'IBM STEM for Girls' IBM signed an MoU with Uttarakhand program in 130 secondary and higher secondary schools Government across five districts in the state. The program will advance the skills and careers of close to 25,600 students in Science, Technology, Engineering, and Math (STEM) fields.

SBI and Indian Oil Corporation Limited (IOCL) will sign the first Secured Overnight Financing Rate (SOFR) linked external commercial borrowing (ECB) deal. SBI and IOCL inked India’s First Libor Alternative Rate Deal The deal will be signed because the de facto international benchmark reference rate called the London Interbank Offered Rate (LIBOR) will no longer work as the benchmark after December 2021.

UNESCO has joined the USO India and Toonz Media Group over the water conservation awareness programme for students. UNESCO joined USO India and Toonz For the water conservation programme, the students have Media Group created the animation videos which will be unveiled on the occasion of World Water Day on March 22, 2021. It will be unveiled as a part of “H2Ooooh! – Waterwise Program” for the school students.

The “Labour Bureau”, which is an attached office under the Ministry of Labour & Employment had signed an agreement with the “Broadcast Engineering Consultants India Limited (BECIL)”, which is an enterprise under Ministry of Information and Broadcasting, have signed a Labour Ministry & BECIL signed an service level agreement in order to provide the technical agreement and manpower support to the Labour Bureau. This support from BECIL will help in conducting All India Surveys on Migrant Workers as well as the All-India Quarterly Establishment based Employment Survey (AQEES).

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 15 Jobs ambitiousbaba.com Online Test Series

a three-year MoU to offer financial assistance for the purchase of the company's range of small and light commercial vehicles. Tata Motors signed an MOU with SBI The collaboration with State Bank of India (SBI) will allow Tata Motors' commercial vehicle (CV) customers to avail of loans in a hassle-free manner as well as access SBI's unique technology-laden offerings.

Partnership/Agreement (April) Partnership/ Agreement Aim SBI has inked a loan agreement with State Bank of India, has raised $1 billion Japan Bank for International from Japan Bank for International Cooperation Cooperation (JBIC) to extend loans to supply chain of Japanese automobile industry in India.

SBI signed a loan agreement with JBIC, taking the total facility to $2 billion. It has inked similar agreement for $1 billion in October 2020, SBI said in a statement.

Bharti AXA Life and Fincare SFB joined Bharti Axa Life and Fincare Small Finance hands for bancassurance partnership Bank have joined hands for a bancassurance partnership under which the bank will sell insurance policies to its customers. Under the partnership, Bharti AXA Life Insurance will offer its comprehensive suite of life insurance products, including protection, savings and investment plans, to the customers of Fincare Small Finance Bank across its 747 branches and digital network presence across the country.

RBL Bank partnered with Mastercard RBL Bank and Mastercard have announced their partnership to launch a mobile-based consumer-friendly payment solution ‘Pay by Bank App’, a first-of-its-kind payment functionality in India.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 16 Jobs ambitiousbaba.com Online Test Series

Indian Bank has signed an MoU with Indian Bank signed an MoU with Bharat BSNL Sanchar Nigam Limited to provide seamless telecom services to the bank at a competitive rate.

The bank is already using services of BSNL and Mahanagar Telephone Nigam Limited for its Wide Area Network across the country.

Partnership/Agreement (May) Partnership/ Agreement Aim ICICI Lombard tied up with to strengthen and automate the quality control processes. Microsoft The insurer will make use of Microsoft’s Azure Speech Services and Natural Language Processing (NLP) to screen its daily service calls made by customer service reps.

Bharti AXA Life signed a for the distribution of its life insurance products through the bancassurance pact with Shivalik bank’s pan-India network of branches. Small Finance Bank CESL-Ladakh signed an MoU State-owned Convergence Energy Services Ltd (CESL) which is a with Administration of Ladakh wholly owned subsidiary of Energy Efficiency Services Ltd (EESL) signed memorandum of understanding (MoU) with Administration of Ladakh to make Ladakh Carbon-neutral.

Bharti Airtel and TATA Group for implementing 5G network solutions for India, which will be partnered available for commercial development from January 2022. SBI General Insurance entered for distribution of non-life insurance Solution. into bancassurance tie-up with Under this strategic agreement, SBI General Insurance will offer IDFC First Bank insurance products such as health, personal accident, home, motor and travel along with the commercial line of insurance products such as property, marine and engineering insurance to the bank’s customers. SBI Card partnered with launched an exclusive co-branded contactless credit card named Fabindia “Fabindia SBI Card”. The card is designed with curated benefits and privileges to offer a rewarding shopping experience to its premium customers and comes in two variants — Fabindia SBI Card SELECT and Fabindia SBI Card.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 17 Jobs ambitiousbaba.com Online Test Series

Jio and Google Cloud comprehensive, long-term strategic relationship with a goal of powering 5G in enterprise and consumer segments nationwide.

Partnership/Agreement (June) Partnership/ Agreement Aim ICICI Lombard tied up with to strengthen and automate the quality control processes. Microsoft The insurer will make use of Microsoft’s Azure Speech Services and Natural Language Processing (NLP) to screen its daily service calls made by customer service reps. Bharti AXA Life signed a for the distribution of its life insurance products through the bancassurance pact with bank’s pan-India network of branches. Shivalik Small Finance Bank CESL-Ladakh signed an MoU State-owned Convergence Energy Services Ltd (CESL) which with Administration of is a wholly owned subsidiary of Energy Efficiency Services Ladakh Ltd (EESL) signed memorandum of understanding (MoU) with Administration of Ladakh to make Ladakh Carbon-neutral.

Bharti Airtel and TATA Group for implementing 5G network solutions for India, which will partnered be available for commercial development from January 2022. SBI General Insurance entered for distribution of non-life insurance Solution. into bancassurance tie-up with Under this strategic agreement, SBI General Insurance will IDFC First Bank offer insurance products such as health, personal accident, home, motor and travel along with the commercial line of insurance products such as property, marine and engineering insurance to the bank’s customers. SBI Card partnered with launched an exclusive co-branded contactless credit card named Fabindia “Fabindia SBI Card”. The card is designed with curated benefits and privileges to offer a rewarding shopping experience to its premium customers and comes in two variants — Fabindia SBI Card SELECT and Fabindia SBI Card. Jio and Google Cloud comprehensive, long-term strategic relationship with a goal of powering 5G in enterprise and consumer segments nationwide.

Partnership/Agreement (July)

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 18 Jobs ambitiousbaba.com Online Test Series

Partnership/ Agreement Aim

MoU inked between AJNIFM Arun Jaitley National Institute of Financial Management and Microsoft (AJNIFM) and Microsoft have inked a Memorandum of Understanding (MoU) for building an Artificial Intelligence (AI) and emerging technologies Centre of Excellence at AJNIFM.

PhonePe partnered Flipkart to enable digitized pay-on-delivery service for the e-commerce major's orders. PhonePe's dynamic QR code solution will enable customers who earlier opted for 'cash on delivery' to pay digitally through any UPI app at the time of delivery.

Bajaj Allianz General a corporate agency agreement which will enable distribution of Insurance, Bank of India in Bajaj Allianz General Insurance’s products through the bank’s vast distribution tie-up network of 5,084 branches, 80 retail business centres and 60 SME city centres across the country.

Razorpay partnered with to launch ‘MandateHQ’ – a payment interface that will help card- Mastercard issuing banks to enable recurring payments for its customers. Razorpay, which is backed by Sequoia Capital, GIC, and others, aims to integrate MandateHQ with more than 50 banks in the next 12 months.

Max Bupa Health Insurance This partnership will help provide comprehensive health and Axis Bank entered a insurance solutions to Axis Bank’s employees and customers. Bancassurance partnership The tie-up will enable millions of Axis Bank customers across 4,500 branches to gain access to quality healthcare solutions through a range of health insurance products offered by Max Bupa. Axis Bank partnered NIIT IFBI to launch digital banking academy NIIT Institute of Finance Banking and Insurance (NIIT IFBI) and Axis Bank have launched a fintech professional programme to build future-ready professionals for the private sector lender. The programme offers graduates with zero to three years of experience an opportunity to join Axis Bank as a deputy manager (IT).

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 19 Jobs ambitiousbaba.com Online Test Series

Ladakh signed MoU with To make Ladakh organic, the administration of Ladakh on 14th July signed an MoU with the Sikkim State Organic Certification Agency (SOCCA).

A tripartite MOU has been signed between Ladakh and SSOCA regarding the implementation of Prampragat Krishi Vikas Yojana and Mission Organic Development Initiative (MODI) in the Ladakh region with the aim to convert Ladakh into organic by 2025. IAHE signed pact with The Indian Academy of Highway Engineers (IAHE), under the University of New South Ministry of Road Transport & Highways (MORTH), has signed Wales an Agreement with University of New South Wales (UNSW), Australia for setting up a Centre for Advanced Transportation

Technology and Systems (CATTS) at IAHE, Noida.

Axis Bank signed an MoU with offering a defence service salary package under Axis bank’s Indian Army "Power Salute" initiative. The Defence service salary package will offer different benefits to all ranks of army officers. The benefits of the MoU will cover both serving Defence personnel as well Defence pensioners.

Kotak Mahindra Bank signed KMBL will offer its salary account proposition to all personnel of MoU with the Indian Navy the Indian Navy – both serving and retired. It also provides 'Special Education Benefit for Children & Additional Girl Child Benefit' that covers dependent children of up to 22 years in the event of an accident claim by the salary account holder. U GRO Capital & Bank of for co-lending to the micro, small and medium enterprise Baroda in tie-up (MSME) sector. Under the co-lending programme Pratham, Bank of Baroda and U GRO will together disburse loans worth Rs 1,000

crore to MSMEs. The loan amount ranges from ₹50 lakh to ₹2.5 crores to be offered at an interest rate starting from 8% with a maximum tenure of 120 months.

BIAL signed a deal with IBM Bangalore International Airport Limited (BIAL), has signed a ten-year partnership with the company IBM to set up the ‘Airport

in a Box’ platform. The partnership is designed to help Bangalore International Airport Limited (BIAL) improve its productivity, automate its information technology services, increase operational flexibility to handle future growth in passenger traffic and reduce costs.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 20 Jobs ambitiousbaba.com Online Test Series

Topic 6: List of loan agreement for India from different organizations 2021 (Topic Feb to July)

Loan (July, 2021) Organization/Bank Loan Amount Purpose

to support India's informal working class to overcome the current pandemic distress. $500 million Of the USD 500 million commitment, USD 112.50 million will be financed by its concessionary World Bank (about Rs 3,717.28 lending arm International Development crore) Association and USD 387.50 million will be a loan from International Bank for Reconstruction and Development (IBRD).

Loan (June, 2021)

Organization/Bank Loan Amount Purpose

Asian Development Bank USD 2.5 million A project readiness financing (PRF) loan to (ADB) (approx Rs 18.23 Upgrade Road Infrastructure In Sikkim crore)

Asian Development Bank USD 484 million to improve transport connectivity and facilitate (ADB) industrial development in the Chennai– Kanyakumari Industrial Corridor (CKIC) in the state of Tamil Nadu

World Bank USD 500 million A Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program to help boost India’s MSME sector

World Bank USD 32 million Mizoram Health Systems Strengthening Project for improving healthcare services in Mizoram

World Bank USD 125 million to support Kerala’s preparedness against natural disasters, climate change impacts, disease outbreaks and pandemics

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 21 Jobs ambitiousbaba.com Online Test Series

World Bank USD 250 million for Initiatives of ‘Supporting Andhra’s Learning (Rs 1,860 Crore) Transformation’ (SALT) Programme in Andhra Pradesh

Loan (April, 2021)

Organization/Bank Loan Amount Purpose

World Bank USD 32 million to improve management capacity and quality of health services in Mizoram.

The project titled “Mizoram Health Systems Strengthening Project” will strengthen the governance and the management structure of the Mizoram Health department and its subsidiaries

World Bank, Asian USD 300 million approved about Rs 2,190 crore for canal- Infrastructure Investment based drinking water projects in Bank Punjab. The project is aimed at ensuring quality drinking water and minimise water losses for Amritsar and Ludhiana. The entire project will be co-financed by IBRD (World Bank) – USD 105 million, Asian Infrastructure Investment Bank – USD 105 million and the Punjab government – USD 90 million.

Asian Development Bank 484 million USD for CKIC (Chennai-Kanyakumari Industrial Corridor) in Tamil Nadu. The project will upgrade 590 km of state highways in the CKIC influence areas. The Climate Change adaptation measures are to be incorporated in the highway upgrades. The project is to strengthen road safety programmes through advanced technologies for road monitoring.

Asian Development Bank USD 1.5 billion ADB has provided USD 1.5 billion to India to deal with the COVID-19 pandemic. The institution had announced a package of USD 20 billion in April 2020 to provide financial support to 26 countries to help fight the pandemic.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 22 Jobs ambitiousbaba.com Online Test Series

Loan (March 2021)

Organization/Bank Loan Amount Purpose

World Bank $100 million The World Bank plans to introduce a $100-million credit guarantee scheme to boost India’s rooftop solar programme, which has not gained enough traction. The scheme will allow micro, small, and medium enterprises (MSMEs) to avail concessional debt financing for setting up rooftop solar units.

The World Bank scheme, along with State Bank of India (SBI) and the MSME ministry to accelerate adoption of rooftop solar units, will help MSMEs access credit of around $1 billion.

Loan (February, 2021)

Organization/Bank Loan Amount Purpose

Export-Import Bank of India $400 Million It will provide the fund for the Greater Male (Exim Bank) Connectivity Project.

The Greater Male Connectivity project is the Male to Thilafushi Link project in Maldives.

New Development Bank (NDB) $100 Million to invest into the NIIF Fund of Funds (FoF). NIIF Fund of Funds (FoF): The FoF was established in the year 2018. It was established with the objective of providing the access of the homegrown Indian private equity fund managers to the institutional investor that operates at scale with focus on India. The FOF has made commitments to four funds till date. The aggregate commitment stands over ₹2,750 crore.

World Bank $100 million Indian Govt and Chhattisgarh Govt has signed a loan for CHIRAAG (Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth) project.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 23 Jobs ambitiousbaba.com Online Test Series

Purpose: Develop sustainable production systems that allow tribal households in remote areas of Chhattisgarh to practice round-the-year production of diversified and nutritious food.

Asian Infrastructure $304 million Assam Intra-State Transmission Investment Bank (AIIB) System Enhancement Project to improve reliability, capacity and security of the power transmission network in the State of Assam. World Bank 68 million project to enhance the governance of schools dollars across Nagaland as well as to improve teaching practices and learning environments in select schools. The “Nagaland: Enhancing Classroom Teaching and Resources Project” will improve classroom instruction; create opportunities for the professional development of teachers.

Topic 7: Union Budget 2021-22: Highlights

Union Finance Minister, Nirmala • The Prime Minister Sitharaman is presenting the Union announced the Pradhan Budget 2021 for the 3rd time in a row. Mantri Garib Kalyan Yojana, The Union Budget is the yearly financial valued at 2.76 lakh crores report estimating the income and • free food grain to 800 million expenditure presented to outline future people, policies to be adopted by the government • free cooking gas for 80 million for sustainable growth and development. families for months, Union Budget 2021 • and cash directly to over 400 ”Faith is the bird that feels the light and million farmers, women, sings when the dawn is still dark”. - elderly, the poor and the Rabindranath Tagore needy. Total financial impact of all AtmaNirbhar Bharat packages including measures (Fireflies – A Collection of Aphorisms) taken by RBI was estimated to about `27.1 lakh crores which amounts to • 1st Paperless Budget more than 13% of GDP.

• On a Tab Made in India • PART A : In Part A, I wish to lay a vision for AtmaNirbhar According to Speech of FM Nirmala Bharat. Sitharaman ♦Budget Proposals 2021-22 COVID Relief Pillars

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 24 Jobs ambitiousbaba.com Online Test Series

crores over a period of 5 years 1)Health and Wellbeing from 2021-2026.

2)Physical & Financial Capital, and Infrastructure Clean Air

3)Inclusive Development for • 2,217 crores Aspirational India

4)Reinvigorating Human Capital Vaccine

5)Innovation and R&D • Rs. 35,000 crores for Covid-19 vaccine 6)Minimum Government and Maximum Governance Note: OVERALL outlay for Health and ♦1. HEALTH SYSTEM Wellbeing is Rs. 2,23,846 crores (increase of 137%)

• PM AtmaNirbhar Swasth Bharat Yojana: outlay of ♦2. Physical and Financial Capital about 64,180 crores over 6 and Infrastructure years. AtmaNirbhar Bharat – Production • Support for 17,788 rural and Linked Incentive scheme (PLI) 11,024 urban Health and Wellness Centers. • AtmaNirbhar Bharat have • Setting up of 15 Health been announced for 13 Emergency Operation Centers sectors. and 2 mobile hospitals. • For this, the government has committed nearly Rs. 1.97 lakh crores, over 5 Universal Coverage of Water years starting FY 2021-22 (Manufacturing Hub)

• The Jal Jeevan Mission (Urban) = 86 crores household tap connections Textiles

• 5 years, with an outlay of `2,87,000 crores. • A scheme of Mega Investment Textiles Parks (MITRA) • 7 Textile Parks will be Swachch Bharat, Swasth Bharat established over 3 years

• The Urban Swachh Bharat Mission 2.0 = 1,41,678

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 25 Jobs ambitiousbaba.com Online Test Series

Infrastructure financing – • More than Rs. 2 lakh Development Financial Institution crores to States and (DFI) Autonomous Bodies for their Capital Expenditure

• Government to set up a DFI

• A sum of Rs. 20,000 crores to Roads & Highway Infrastructure capitalise this institution

• Lending portfolio of at least • More than 13,000 km length Rs. 5 lakh crores for this DFI of roads of which 3,800 in three years time kms have been constructed

• By March 2022, another 8,500 kms and complete an National Monetisation Pipeline of additional 11,000 kms of potential brownfield infrastructure national highway corridors. assets will be launched • 3,500 km corridor in Tamil Nadu (Madurai-Kollam • NHAI & PGCIL have sponsored one InvIT each corridor, Chittoor-Thatchur corridor) • 5 operational roads with an estimated enterprise value • 1,100 km in Kerala at of 5,000 crores are being investment of Rs 65,000 cr transferred to the NHAI InvIT. (MumbaiKanyakumari corridor) • Transmission assets of a value of Rs. 7,000 crores will • 675 km in West Bengal at a be transferred to the PGCIL cost of Rs 95,000 cr InvIT (upgradation of existing road- Kolkata – Siliguri.) • InvIT = Infrastructure Investment Trusts • 1,300 km in Assam in the next 3 years • PGCIL = Power Grid Corporation of India

Railway Infrastructure

Capital Budget • National Rail Plan for India – 2030 • Capital Expenditure = Rs.5.54 lakh crore (+34.5% vs. • 100% electrification of Broad- FY21 BE) Gauge routes will be completed by December, 2023 • FY21 = Rs.4.39 lakh crore • 1,10,055 crores for Railways • Sum of more than Rs. 44,000 of which Rs. 1,07,100 crores is crores in the Budget head of for capital expenditure. the Department of Economic Affairs

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 26 Jobs ambitiousbaba.com Online Test Series

Urban Infrastructure Recapitalization of PSBs

• 18000 cr = Expand Transport • Recapitalization of 20,000 Services crores for bank is proposed in 2021-22 • ‘MetroLite’ and ‘MetroNeo’

technologies in Tier- II metros.

Deposit Insurance Petroleum & Natural Gas • DICGC Act, 1961 = Rs.1 lakh to Rs.5 lakh • Ujjwala Scheme= Covered 8 cr households and will be • Revised definition for NBFCs extended to 1 cr more with minimum asset size of beneficiaries Rs.100 crores, minimum loan size eligible for debt recovery • City Gas Distribution under (SARFAESI) Act, 2002 is network = add 100 more proposed to be reduced from districts in next 3 years. the existing level of Rs. 50 • A gas pipeline project will be lakhs to Rs.20 lakhs. taken up in Union Territory of Jammu & Kashmir. Company matters

Financial Capital • Revise the definition under the Companies Act, 2013 for Small • 1,000 crores = Solar Energy Companies by increasing their Corporation of India thresholds for Paid up capital from not exceeding 50 Lakh • 1,500 crores = Indian to not exceeding Rs. 2 Crore Renewable Energy and turnover from not Development Agency exceeding Rs. 2 Crore to not exceeding 20 Crore.

Increasing FDI in Insurance Sector Disinvestment • Insurance Act, 1938 = FDI limit from 49% to 74% • Target for FY22 = Rs.1.75 • Stressed Asset Resolution by lakh cr setting up a New Structure • Disinvestment will be completed by 2021-22:

• BPCL, Air India, Shipping

Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 27 Jobs ambitiousbaba.com Online Test Series

Hans, Neelachal Ispat Nigam limited

• Other than IDBI Bank, Fisheries Privatization of two Public Sector Banks and one • 5 major fishing harbours – General Insurance company Kochi, Chennai, in the year 2021-22 Visakhapatnam, Paradip, and • IPO of LIC Petuaghat

♦3. Inclusive Development for Aspirational India Migrants Workers

Agriculture • Under One Nation, One Ration

• 69 crores beneficiaries – that’s • MSP = 1.5 times the cost of a total of 86% beneficiaries production across all covered commodities • 32 states and UTs • Farmers benefited from MSP

in Paddy & Wheat = 54 cr

• Amount paid to Farmers for Financial Inclusion Wheat in FY21 = Rs.75060 cr

• Ans for Paddy in FY21 = 1.72 • Reduce the margin money cr requirement from 25% to 15%, and to also include loans • For Pulses = Rs. 10530 cr for activities allied to • Under SVAMITVA scheme = agriculture. about 1.80 lakh property- owners in 1,241 villages have • MSME sector allocation to be been provided cards doubled = 15,700 crores in FY22 • Agricultural credit target = Rs.16.5 lakh crores in FY22 ♦4. Reinvigorating Human Capital • Allocation to the Rural Infrastructure Development • The National Education Policy Fund from Rs. 30,000 crores (NEP) announced recently has to 40,000 crores. had good reception

• Micro Irrigation Fund= Rs. • 100 new Sainik Schools will be 5,000 crores , created under set up NABARD • Set up a Central University in • ‘Operation Green Scheme’ = Leh. Tomatoes, onions, and • A target of establishing 750 potatoes, will be enlarged to Eklavya model residential include 22 perishable schools in our tribal areas products.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 28 Jobs ambitiousbaba.com Online Test Series

♦5. Innovation and R&D

• Worked out the modalities and Fiscal Position the NRF outlay will be of 50,000 crores, over 5 year • FY21 fiscal deficit at 5% of • 1500 crore for a scheme to GDP boost Digital Payment • FY21 Gross Expenditure = • Gaganyaan mission = 4 Rs.34.5 lakh cr Indian astronauts are being trained on Generic Space • FY21 Capital Expenditure = Flight aspects, in Russia. Rs.4.39 lakh cr

• The first unmanned launch is • FY22 fiscal deficit target = slated for December 2021 6.8% of GD

• Deep Ocean Mission = more • FY22 Gross Expenditure = Rs. than Rs. 4,000 crores, over five 34.83 lakh cr years • FY22 Capital Expenditure = Rs.5.54 lakh cr

• Market borrowing in Fy22 = ♦6. Minimum Government, Rs.12 lakh cr Maximum Governance Note: Hope to get Fiscal Deficit by FY26 = below 4.5% • The forthcoming Census could be the first digital census in the Part B history of India allocated 3,768 crores in the Relief to Senior Citizens year 2021-2022.

• 300 crores = Govt of Goa as • Pensioners over 75 years of age grant for celebration of 50 are exempt from filling returns years of Independence from Exemption from Audit the Portugues • Turnover exceeds Rs. 5 crore • 1000 cr = Bengal, Assam Tea increased to Rs.10 crore if 95% workers transaction in digital form

Topic 8: RBI Annual Report 2021

Reserve Bank of India (RBI) published its • RBI in its semi-annual annual report and highlights “asset financial stability report quality of banks and their preparedness earlier highlighted, bad loan requires close monitoring for higher ratio of banks could rise to provisioning for upcoming quarters. 13.5% under baseline stress scenario by September 2021.

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 29 Jobs ambitiousbaba.com Online Test Series

• Provision Coverage Ratio Feb 2021 (PCR) of banks improved from 66.6% in March 2020 Govt pegs FY21 fiscal deficit at 9.5% of to 75.5 % by December GDP 2020, because of prudent Finance Minister Nirmala Sitharaman provisioning by banks above regulatory prescriptions on said on 1 Feb the fiscal deficit for FY21 accounts availing moratorium has been pegged at 9.5 per cent of the and undergoing restructuring. GDP and will come down to 6.8 per cent in FY22. The fiscal deficit will reach • Capital to risk-weighted assets below 4.5 per cent by FY26. ratio (CRAR) of banks increased to 15.9% by Sitharaman said while gross expenditure December 2020, in March it is seen at Rs 34.5 lakh crore, the capital was 14.8%. expenditure is expected to be Rs 4.39 • In its report, RBI cautioned lakh crore in FY21. “banks being lenders will have Banks wrote off Rs 62,000 cr loans of to provide true picture of bad top 100 willful defaulters: RBI loans after Supreme Court lifted interim stay on Banks have written off almost Rs classifying non-performing 62,000 crore of loans of top 100 wilful assets (NPA) in March 2021. defaulters as of March 2020, with Jatin • According to it, waiver of Mehta’s Winsome Diamonds & compound interest on all loan Jewellery topping the list at Rs 3,098 accounts opted for crores. moratorium during March- August 2020 would put IRDAI issues guidelines on Standard stress on financial health of Vector-Borne Disease health policy banks. In order to convince public for getting • Gross NPA ratio of banks health insurance coverage to decreased from 8.2% in specified Vector-Borne Diseases, the March 2020 to 6.8% in Insurance Regulatory and December 2020. Development Authority of India • Gross NPA ratio for non- (Irdai) has encouraged all general and banking financial institutions health insurers to offer Standard Vector- (NBFCs) increased from 6.8% Borne Disease health policy “Mashak in march to 5.7% in Rakshak”. This health policy can December 2020. preferably be available by 1 April 2021. • Capital adequacy ratio of NBFCs increased from Vector-borne diseases generally happen 24.8% in December 2020 from an infection transmitted to humans from 23.7% in March. and other animals by blood-feeding insects like mosquitoes, ticks, etc. For instance, vector-borne diseases can Topic 9: Banking & Financial include Dengue fever, Malaria, etc. news (Feb to July) Policy framework

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 30 Jobs ambitiousbaba.com Online Test Series

The minimum sum insured under Bharti AXA General Insurance Standard Product shall be ₹10,000 launches #EkNayaNazariya Campaign wherein the amount can be increased in Bharti AXA General Insurance has the multiples of ₹10,0000 and maximum launched a new campaign called limit can go up to ₹2 lakh. Besides, the #EkNayaNazariya by asking everyone minimum entry age shall be 18 years for to express their gratitude with the principal insured and maximum age at #IssJungMeinHumSangHai statement. entry shall not be less than 65 years for all the insured members including The aim of this campaign is to principal insured. acknowledge the caregivers who are supporting cancer survivors. And for this PayPal to Stop Domestic Payment Bharti AXA General Insurance Services from 1 April 2021 collaborated with spoken word poet and The American Digital payment caregiver, Priya Malik for a poignant solutions provider PayPal announced tribute, ‘NayaNazariya’ to shed light on that it will stop offering the domestic the selfless devotion of caregivers payment services within India everywhere. beginning from April 1, 2021. Govt allocates Rs16000 crore for RBI to adopt “One Nation One 2021-22: PMFBY Ombudsman” approach The Central government has allocated The Reserve Bank of India (RBI) has Rupees 16,000 crores for the Pradhan announced that it will integrate the Mantri Fasal Bima Yojana (PMFBY) for consumer grievances redressal under the upcoming fiscal year 2021-22. a single ombudsman as opposed to the This allocation was done in order to three grievance redressal schemes boost the safety of farmers’ crops. The working at present. amount will also ensure that maximum There are dedicated ombudsman benefit of crop insurance reaches to the schemes for the consumer grievance farmers. redressal in the banking, non-bank Govt Rs. 1050 crore budget has been finance companies and digital allocated Sub Mission on Agricultural transactions. Mechanization Scheme launches ‘FedFirst’ In the Union Budget 2021, Rs. 1050 savings account scheme for children crore budget has been allocated for Federal Bank has announced the Sub Mission on Agricultural launch of “FedFirst”, a special savings Mechanization (SMAM) for the account scheme for children below 18 financial year 2021-2022. years of age. The account holder is About Scheme: The SMAM scheme was provided with a FedFirst contactless launched in the year 2014-15. The Debit Card with a daily cash withdrawal scheme was launched by the government limit of ₹2,500 and POS/e-com limit of of India with the aim of ‘reaching the ₹10,000. unreached’. The scheme seeks to reach to the unreached by making the farm

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 31 Jobs ambitiousbaba.com Online Test Series machines accessible and affordable for facing and also assist in developing a the small and marginal farmers (SMFs). successful risk aversion plan. Projects amounting to ₹78,910 crores India recorded $1422 million FDI grounded under AMRUT inflow from UK in 2019-20 Atal Mission for Rejuvenation and The FDI inflow from the UK to India Urban Transformation (AMRUT) was has increased from $898 million in launched on 25 June 2015 in 500 2015- 16 to $1,422 million in 2019-20, selected cities across the country. The according to Grant Thornton Bharat’s Mission focuses on the development of Britain Meets India report released on basic urban infrastructure in the sectors 17th Feb. of water supply; sewerage and septage Maharashtra has come out as the top management; storm water drainage; investment destination for UK non-motorised urban transport and companies, followed by Haryana, Delhi, development of green spaces and parks. Tamil Nadu, Telangana and Karnataka. Following are the achievements of State Bank of Sikkim under Reserve AMRUT scheme: Bank of India's regulatory purview • Projects amounting to ₹78,910 The Reserve Bank of India (RBI) has crores have been grounded. brought State Bank of Sikkim under • Work worth ₹47,703 crores have its regulatory purview. The bank, been carried out including established five years before Sikkim completed projects worth acceded to India in 1973, provides ₹16,449 crores. treasury operations for the state • 97 lakh water tap connection and government. It only operates within 62 lakh sewer household Sikkim and is wholly-owned by the state connections have been provided government. under AMRUT and in convergence with other scheme. LIC launches new Bima Jyoti plan • Sewer Treatment Plants (STPs) of Life Insurance Corporation of India capacity 1,090 MLD (Million Litre (LIC) has launched a non-linked, non- per Day) have been developed participating, individual savings plan against the target of 6,000 MLD. called Bima Jyoti. ICICI Lombard launches Corporate The plan offers a combination of India Risk Index protections and savings. While it will Private general insurer ICICI Lombard provide life cover in case of unfortunate has launched the ‘Corporate India death of the policyholder, it also provides Risk Index’. This is intended to be a guaranteed lumpsump payment at unified, standardised corporate risk maturity. index that spans industries and The minimum entry age for Bima Jyoti is companies. 90 days, while the maximum is 60 years. This will help companies understand RBI ropes in Punjabi rapper for the level of risk that their business is awareness campaign on cyber fraud

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 32 Jobs ambitiousbaba.com Online Test Series

As cyber frauds continue to increase, Bank in the Second Schedule of the the Reserve Bank of India, has Reserve Bank of India Act, 1934. undertaken an unusual measure to All banks which are included in the spread awareness. The RBI has roped Second Schedule to the Reserve Bank of in Punjabi singer-rapper Viruss in its India Act, 1934 are Scheduled Banks. public awareness campaign. These banks comprise Scheduled China Surpasses US to become India’s Commercial Banks and Scheduled Co- top trade partner in 2020 operative Banks. China has regained its position as the SBI Mutual Funds Launched First top trading partner of India in 2020, Overseas Fund which was held by the United States, The State Bank of India (SBI) Mutual since 2018-19. The two-way trade Funds has launched its first overseas between India and China stood at offering on 1 March 2021. The fund $77.7 billion in 2020 despite the conflict titled SBI International Access — US along the Line of Actual Control (LAC) Equity FOF is an open-ended fund of and the rising anti-China sentiment. funds scheme investing in mutual fund The India-US bilateral trade stood at scheme/ETFs that invest in US markets, $75.9 billion, according to provisional which are domiciled overseas. data from the commerce ministry. EPFO retains interest rate for 2020-21 Meanwhile, the UAE continues to remain at 8.5% India’s third-biggest trading partner. The Central Board of Trustees of SBI joins JPMorgan’s blockchain retirement fund body Employees’ payments network Provident Fund Organisation (EPFO) State Bank of India has tied up with will keep the interest rate for the JPMorgan to use the US bank’s financial year 2020-21 unchanged at blockchain technology to speed up 8.5 per cent. overseas transactions. India attracted total FDI inflow of US$ The tie-up is expected to reduce SBI 67.54 billion during April to customers’ transaction costs and time December 2020 taken for payments. SBI has joined India has attracted total FDI inflow of Liink, a new blockchain-based US$ 67.54 billion during April to interbank data network developed by December 2020. It is the highest ever JPMorgan. By integrating the for the first ninth months of a financial technology, the bank expects to reduce year and 22% higher as compared to the transaction costs and improve cross- first ninth months of 2019-20 (US$ 55.14 border payments for its customers. billion). March 2021 FDI equity inflow grew by 40% in the Fino upgraded to first 9 months of F.Y. 2020-21 (US$ 51.47 scheduled commercial bank status billion) compared to the year ago period (US$ 36.77 billion). Reserve Bank of India has notified that it has included Fino Payments

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 33 Jobs ambitiousbaba.com Online Test Series

HDFC ERGO launched Business Kisht programme was launched on the Suraksha cover occasion of International Women’s Day. HDFC ERGO General Insurance has MeitY released the list of “Digital launched the “Business Kisht Payment Scorecard” Suraksha” cover. It is a unique cover The Ministry of Electronics & which was launched with the aim of Information Technology (MeitY) has protecting the balance sheet of Micro released the list of “Digital Payment finance Institutions (MFIs), financial Scorecard”. In the list, the State Bank of institutions and banks if any catastrophe India (SBI) has topped for the third or natural disaster occurs. consecutive months. India FDI Apr-Sep 2020: Singapore SBI maintained the top remitter bank by with $8.30 Billion Topped the List, US recording highest UPI transaction 2nd Biggest Source volume which accounted for nearly The US has emerged as the second Rupees 640 million. SBI has also biggest source of foreign direct emerged as the largest issuer of debit investment (FDI) into India, replacing cards. Mauritius, during the first half of the RBI removed PCA restrictions on IDBI current financial year, according to data Bank of the commerce and industry ministry. The Reserve Bank of India (RBI) has During April-September 2020, India removed IDBI Bank from restrictions attracted FDI worth $7.12 billion from placed on it due to its poor capital, asset the US and $2 billion from Mauritius. quality and leverage position four Singapore with $8.30 billion foreign years ago. inflows continued to be the top source of FDI for India in April-September 2020- That the decision was taken in a review 21. by the central bank's internal Board of Financial Supervision (BFS) in a meeting SEBI canceled Sahara India Financial on February 28. Corp’s registration as sub-broker Axis Bank launched “Wear N Pay” Markets regulator Sebi has cancelled contactless payment wearable the certificate of registration of devices Sahara India Financial Corporation Ltd as a sub-broker citing its failure to Axis Bank has launched a range of fulfil the “fit and proper” criteria. wearable contactless payment devices under the brand Wear ‘N’ Pay. HDFC Bank launched SmartUp Unnati These devices come in different forms of programme wearables like a band, key chain and The HDFC Bank has launched the watch loop and are available starting at “SmartUp Unnati mentoring Rs 750. Programme”. This programme was NITI Aayog submitted the first list of launched to provide its support to the 12 PSUs for Privatisation women entrepreneurs. This

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 34 Jobs ambitiousbaba.com Online Test Series

The government’s think tank, NITI The Central Government has Aayog has submitted the first list announced to infuse Rs 14,500 crore comprising of 12 Public Sector in four state-owned lenders namely Undertakings that will be privatized Central Bank of India, Indian Overseas under the centre’s privatisation drive. Bank, Bank of India and UCO Bank in 2020-21, by issuing non-interest- The list submitted by the NITI Aayog bearing bonds to these banks. This includes the PSUs in strategic sectors. infusion will complete This list will now be reviewed by the government’s total capital Department of Investment and Public infusion of Rs 20,000 crore in public Asset Management (DIPAM) and Core sector banks for the current financial Group of Secretaries on Divestment year 2020-21. Earlier in December 2020, it infused Rs 5,500 crore in (CGD) which is headed by cabinet Punjab and Sind Bank. secretary.

Govt will sell 15% stake in Rail Vikas RBI has decided to open up RTGS, Nigam Ltd via OFS NEFT facilities for payment system operators The government on 24th March said it will dilute 15 per cent stake in Rail Vikas Nigam Ltd via an offer for sale to In a major move in the online payments raise nearly Rs 750 crore. Govt. would segments, the Reserve Bank of India (RBI) has decided to allow payment divest 10% equity with a 5% Green Shoe system operators to take direct option. membership of Centralised Payment About RVNL: RVNL was incorporated as Systems (CPS), such as RTGS and a 100 per cent owned PSU of the Ministry NEFT. Membership in Centralised of Railways on January 2003. Payment Systems (CPS) RTGS and NEFT for entities other than banks are so far April 2021 limited to banks, with a few exceptions, such as specialised entities like clearing Centre has proposed up to 25% tax corporations and select development concession on purchase of new financial institutions. vehicles

The Ministry of Road, Transport, and RBI has increased WMA limits for the Highways has proposed a concession of State Governments/UTs 25% in road tax against the scrappage certificate of personal The Reserve Bank of India has vehicles and 15% for transport increased the limit for Way and Means vehicles. As a part of the newly Advances (WMA) for the State introduced vehicle scrappage policy, this Governments/UTs from Rs. 32,225 rule is proposed to come into effect crore (fixed in February 2016) to Rs. from October 1st, 2021. 47,010 crore based on the Government has announced Rs recommendation of a committee headed by Shri Sudhir Shrivastava. This 14,500 crore capital infusion in represents an increase of about 46%. 4 PSBs RBI has extended the enhanced interim WMA limit of ₹ 51,560 crores (a 60 per

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 35 Jobs ambitiousbaba.com Online Test Series cent increase in the current limits Citigroup will exit consumer banking allowed by the Reserve Bank during the last fiscal to help states/UTs to tide over business in India the difficulties faced by them during the pandemic) for a further period of six Citigroup on 16th April Announced it months i.e., from April 1, 2021, up to will exit its retail banking business in September 30, 2021. India and 12 other countries, choosing to deploy its capital and resources in investments that offer better returns and RBI has enhanced maximum balance growth. The move will see the bank also limit per account in Payments Banks exit consumer businesses across parts of Asia and the Europe, including The Reserve Bank of India has Australia and China. enhanced the limit of maximum balance at end of the day maintained Aceware has launched first neobank in Payments Bank from Rs 1 lakh to Rs in Kerala 2 lakh per individual customer. The extant “Guidelines for Licensing of Aceware FinTech Services, a leading Payments Banks” issued on November fintech services company in Kerala, 27, 2014, allow payments banks to has launched the state’s first neobank, hold a maximum balance of ₹ 1 lakh Ace Money Neobank, in partnership per individual customer. with and ICICI Bank. In the first phase, start-ups, traders and business entities can open current accounts with SBI MF has become first mutual fund the neobank. company to cross Rs 5 lakh crore RBI has restricted American Express AAUM Banking Corp, Diners Club International Ltd from adding new SBI Funds Management Pvt. Ltd has customers informed that it has become the first mutual fund house in India to cross Reserve Bank of India has imposed the Rs. 5 lakh crore average assets restrictions on American Express under management (AAUM) mark. Banking Corp and Diners Club International Limited from adding Ghaziabad has issued India’s first new customers to their card networks municipal green bonds from 1st of next month.

Ghaziabad Nagar Nigam (GNN) on 9th RBI has allowed commercial banks to Arpil announced successfully raising pay up to 50% of pre-Covid dividends and listing India’s first Green Municipal bond issue. GNN raised The Reserve Bank of India (RBI) has ₹150 crore at a cost of 8.1 per cent. allowed commercial banks to pay Money will be used clean up dirty water dividends on equity shares for FY21, by setting up a tertiary water treatment from the profits for the fiscal ended plant and supply piped water through March 31, 2021, subject to certain water-meters to places like Sahibabad. conditions and limits. The new notification of RBI allows commercial banks to pay dividends not more than

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 36 Jobs ambitiousbaba.com Online Test Series

50 per cent of the amount determined The central bank joined the NGFS on as per the dividend payout ratio April 23, 2021. prescribed. This means that banks may pay dividends up to 50% of what they Benefit: The RBI expects to benefit from paid before the Covid scenario. the membership of NGFS by learning from and contributing to global efforts RBI has capped the Tenure of Private on green finance, which has assumed Banks MD & CEO at 15 Years significance in the context of climate change. The Reserve Bank of India (RBI) has capped the tenure of Managing Director and Chief Executive of May 2021 commercial banks to 15 years. The same limit will also be applicable to RBI announced ₹50,000 crore priority whole-time directors (WTD). This lending by banks for COVID-related means that the same incumbent healthcare infrastructure cannot hold the post for more than 15 years. The revised instructions will be The Reserve Bank of India (RBI) will applicable to all the Private Sector Banks give banks Rs 50,000 crore to enable including Small Finance Banks (SFBs) them to lend further for "healthcare and wholly owned subsidiaries of needs" in the Covid-19 crisis, said Foreign Banks. governor Shaktikanta Das on 5th May.

Shivalik Small Finance Bank Limited “On-tap liquidity of Rs 50,000 crore at Begins Operations repo rate is being opened till March 31, 2022. Shivalik Small Finance Bank Limited RBI will conduct first SLTRO for small has commenced operations as a small finance banks finance bank with effect from April 26, 2021.The Reserve Bank has issued a The Reserve Bank of India recently licence to the bank under Section 22 (1) announced that it is to conduct the first of the Banking Regulation Act, 1949 to Special Long Term Repo Operation carry on the business of small finance (SLTRO) of Rs 10,000 crores for Small bank in India. Finance Banks. It must be remembered that the Shivalik The RBI will conduct the SLTRO for each Mercantile Co-operative Bank (SMCB) is month starting from May 2021. This is to the first urban co-operative bank (UCB) continue till October 2021. The SLTRO in India to receive license from RBI to will be valid for three years. All the Small operate as a Small Finance Bank (SFB). Finance Banks shall participate in the SLTRO. RBI has joined network for greening financial system Bajaj Finance got RBI approval for prepaid payment business The Reserve Bank of India (RBI) has joined the Central Banks and Bajaj Finance is all set to join the likes of Supervisors Network for Greening the Paytm and Amazon in the prepaid Financial System (NGFS) as a member. payment segment with the Reserve Bank of India (RBI) approving the

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 37 Jobs ambitiousbaba.com Online Test Series non-bank lender’s foray with despite a pandemic that devastated the perpetual validity. world economy, according to a World Bank. UN raised global economic forecast to 5.4% growth in 2021 Note: Top 5 The United Nations on 12th May 2nd Place: China- USD 59.5 billion responded to the rebounding Chinese 3rd Place: Mexico-USD42.8 billion and U.S. economies by revising its global economic forecast upward to 4th Place: Philippines USD34.9 billion 5.4% growth for 2021, but it warned 5th Place: Egypt- USD29.6 billion that surging COVID-19 cases and inadequate availability of vaccines in 6th Place: Pakistan- USD26 billion many countries threaten a broad-based recovery. PayPal introduced digital foreign inward remittance advice In raising its projection from January of 4.7% growth, the U.N.’s mid-2021 World Digital payments provider PayPal has Economic Situation and Prospects introduced an automated process to report. obtain monthly foreign inward remittance advice (FIRA), allowing RBI announced Second Tranche of Indian merchants to download their purchase under G-SAP 1.0 monthly digital FIRA issued by banks. The Reserve Bank of India recently RBI excluded announced that the second tranche of from second schedule of RBI Act open market purchase of Government Securities is to be held on May 20, The Reserve Bank of India (RBI) said it 2021. This is to be held under G-Sec has excluded Lakshmi Vilas Bank Acquisition Programme. This second (LVB) from the Second Schedule of the tranche is to be conducted for Rs 35,000 RBI Act after it was merged with DBS crores. Bank India Ltd (DBIL) last year. In April 2021, the Reserve Bank of LVB is the second private sector bank India launched the Government after Yes Bank which has run into rough Security Acquisition Programme 1.0. weather during this year. In March, It was held on April 15, 2021. RBI capital-starved Yes Bank was placed purchased Rs 25,000 crores of under a moratorium. The government Government securities. rescued Yes Bank by asking the state- run State Bank of India to infuse Rs Earlier in May 2021, RBI announced that 7,250 crore and take a 45 percent the second tranche is to be purchased stake in the bank. under G-SAP 1.0. India’s WPI Inflation Surged To India received $83 billion in 10.49% For April 2021 remittances in 2020: World Bank The Department for Promotion of India received over USD83 billion in Industry and Internal Trade recently remittances in 2020, a drop of just 0.2 released Wholesale Price in India for per cent from the previous year, the month of April 2021. The annual

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 38 Jobs ambitiousbaba.com Online Test Series rate of inflation for the month of April transaction within an overall 2021 was 10.49%. The WPI for the monthly limit of Rs. 10,000 across month of April 2021 stood at 128.1. all locations (Tier 1 to 6 centres). The base year in calculating WPI is Earlier this limit was Rs 1000 for fixed as 2011-12. Tier 1 and 2 cities while Rs 2000 for Tier 3 to 6 cities. RBI will transfer Rs. 99,122 crore surplus to Central Government for issued India’s FY21 first FPI licence to GIFT AIF The Reserve Bank of India will Kotak Mahindra Bank has issued the transfer Rs 99,122 crore surplus to first-ever foreign portfolio investor the Central Government for the (FPI) licence to the GIFT IFSC accounting period of nine months alternative investment fund (AIF) of ended March 31, 2021 (July 2020- True Beacon Global. This is the first FPI March 2021). The Contingency Risk licence issued to an AIF incorporated in Buffer will remain at 5.50%. This year GIFT IFSC by any custodian bank or RBI has changed its Accounting year designated depository participant (DDP) from July-June to April-March to coincide in the country. with the accounting year of Government. Foreign direct investment jumped RBI increased the limit for Full-KYC 19% to $59.64 billion in 2020-21 PPIs to Rs 2 lakh from Rs 1 lakh Foreign direct investments (FDI) into The Reserve Bank of India has the country grew 19 per cent to USD increased the maximum amount 59.64 billion during 2020-21 on outstanding in respect of full-KYC account of measures taken by the PPIs (KYC-compliant PPIs) from Rs. 1 government on the fronts of policy lakh to Rs. 2 lakh. reforms, investment facilitation and ease of doing business. Note: RBI has also permitted cash withdrawal from Full-KYC PPIs of Total FDI, including equity, re-invested Non-Bank PPI Issuers. The condition earnings and capital, rose 10 per cent to on such cash withdrawal shall be: the "highest ever" of USD 81.72 billion during 2020-21 as against USD 74.39 • Maximum limit of Rs. 2,000 per billion in 2019-20. In terms of top transaction with an overall limit investor countries, Singapore is at the of Rs. 10,000 per month per PPI. top with 29 per cent share. It was

• All cash withdrawal transactions followed by the US (23 per cent) and performed using a card/wallet Mauritius (9 per cent) during the last shall be authenticated by an fiscal. "FDI equity inflow grew by 19 per Additional Factor of cent in 2020-21 (USD 59.64 billion), Authentication (AFA) / PIN; compared to 2019-20 (USD 49.98 • RBI has increased the limit of cash billion). withdrawal from Points of Sale (PoS) terminals using debit cards Value and volume of banknotes in and open system prepaid cards circulation increased by 16.8% and (issued by banks) to Rs 2000 per 7.2% respectively in 2020-21: RBI

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 39 Jobs ambitiousbaba.com Online Test Series

The Reserve Bank of India on 27th deal ever from German retailer Metro May said banknotes in circulation and has seen deal wins of $7.1 billion. witnessed higher than average ICICI Bank Became 2nd Globally to increase during 2020-21, on account of offer ‘SWIFT gpi Instant’ facility precautionary holding of cash by people due to the COVID-19 pandemic, and its ICICI Bank on June 2 announced that it prolonged continuance. The value and has tied up with SWIFT to offer instant volume of banknotes in circulation facility for cross-border inward increased by 16.8 per cent and 7.2 per remittances. cent, respectively, during 2020-21, as This facility will help overseas partner against an increase of 14.7 per cent banks to send instant remittances on and 6.6 per cent, respectively, behalf of their customers to the witnessed during 2019-20. beneficiary in India, thus making ICICI Frauds reported by banks fell by 25% Bank first lender in Asia-Pacific and in value terms to Rs 1.38 lakh crore in the second globally to offer the facility, 2020-21: RBI called ‘SWIFT gpi Instant’, for cross border inward payments. Frauds reported by banks fell by 25% in value terms in just one year to Rs RBI lowered FY22 GDP forecast to 1.38 lakh crore at the end of fiscal 9.5%, CPI inflation projected at 5.1% year ended March 2021, data released The Reserve Bank of India (RBI) has by the RBI as part of it annual report cut its projection for gross domestic showed. product (GDP) growth for fiscal 2021- During the same period last year total 22 (FY22) to 9.5 per cent from the frauds reported by lenders was at Rs earlier forecast of 10.5 per cent. 1.85 lakh crore. In number terms fraud Consumer price inflation (CPI), the reporting was down by 15 percent on a central bank said, is likely to be at 5.1 per year basis to 7363. Public sector banks cent in FY22 as compared to the earlier contributed to more than 59 percent forecast of 5.2 per cent (5.2 per cent in of the total value of frauds at Rs 81,901 Q1; 5.4 per cent in Q2; 4.7 per cent in Q3; crore while private sector banks and 5.3 per cent in Q4) with risks evenly contributed 33 percent at Rs 46,335 balanced. crore. India: 4th largest Forex Reserves June 2021 holder Wipro became third Indian IT firm to India’s forex reserves crossed $600 touch Rs 3 trillion market cap mark for the first time and as on June Wipro on 3rd June touched Rs 3 4, it stood at $605 billion. With this, trillion in market capitalisation for India equals Russia as the fourth largest the first time, becoming the third reserve holder worldwide. India’s forex Indian IT firm to achieve the milestone reserve was $605.008 billion while for after Tata Consultancy Services and Russia it was $605.2 billion. Infosys. The company won its largest SBI launched Kavach Personal Loan for Covid-19 patients

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 40 Jobs ambitiousbaba.com Online Test Series

State Bank of India (SBI) has launched IDFC First Bank has announced the a collateral-free “Kavach Personal launch of the "Ghar Ghar Ration" Loan” to enable its customers to meet Program, an Employee-funded program medical expenses of self and family for its low-income customers whose members for Covid treatment. Under livelihoods are affected by the Covid- this scheme, customers can avail of 19 pandemic. loans up to ₹5 lakhs at an effective Government allowed HFCs above Rs interest rate of 8.5 per cent per annum 100 crores to use to SARFAESI law for 60 months, which is inclusive of three months moratorium. The Ministry of Finance has given its allowance to housing finance Policybazaar got insurance broking companies (HFCs) with asset sizes of licence more than Rs. 100 crore to recover the Policybazaar said it has got approval dues using SARFAESI law. from regulator IRDAI to undertake Prior to this, Finance Ministry allowed insurance broking, a development that HFCs with assets over Rs. 500 crore to will help the company augment use SARFAESI law to recover dues. business and expand bouquet of services. Kotak Mahindra Bank launched ‘Pay Your Contact’ service will be lead sponsor of bad bank, will pick up 12% stake Kotak Mahindra Bank has announced the launch of ‘Pay Your Contact’ the State-owned Canara Bank said it will new feature that enables its customers to be the lead sponsor of National Asset send money or make payments to any of Reconstruction Company Limited their contacts across all payment apps (NARCL) or bad bank with 12 per cent simply by the beneficiary’s mobile stake in the entity. Bad bank refers to a number. financial institution that takes over bad assets of lenders and undertakes SBI launched Aarogyam healthcare resolution. "The Indian Banks' business loan Association (IBA), vide their letter dated The State Bank of India (SBI) has May 13, 2021 requested Canara Bank to launched the Aarogyam healthcare participate in NARCL as sponsor. The business loan to provide enhanced board of Canara Bank has given in- support to the healthcare sector amid principle approval for taking stake in the pandemic. Under this new product, NARCL. entire healthcare ecosystem such as The proposed NARCL would be 51% hospitals, nursing homes, diagnostic promoted by PSBs and remaining by centres, pathology labs, private sector lender. Banks have manufacturers, suppliers, importers, identified around 22 bad loans worth logistic firms engaged in critical Rs 89,000 crore to be transferred to healthcare supply can avail of loans the NARCL in the initial phase. up to Rs 100 crore (as per the geographic location) repayable in 10 IDFC First Bank launched 'Ghar Ghar years. Ration' program

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 41 Jobs ambitiousbaba.com Online Test Series

In metro centres loans under Aarogyam Finance Minister Nirmala Sitharaman on can be availed up to Rs 100 crore, Tier 28th June announced Rs 1.1 lakh crore I & Urban centres up to Rs 20 crore and loan guarantee scheme for Covid- in Tier II to Tier VI centres upto Rs 10 affected sectors, including health sector, crore. which includes guarantee cover for expansion or for new projects. Besides, LIC introduced Technology Platform an additional Rs 1.5 lakh crore limit ‘e-PGS’ enhancement was also announced for Life Insurance Corporation (LIC) has Emergency Credit Line Guarantee launched a centralized web-based Scheme (ECLGS) scheme expanding the workflow-based IT platform called “e- existing limit of Rs 3 lakh crore by 50%. PGS”. New technology platform, e-PGS, FM Sitharaman’s announced relief has been designed to provide a package worth Rs 6,28,993 crore centralized collection and payment against COVID-19 accounting with high level of bank integration. Finance Minister Nirmala Sitharaman announced a relief package worth Rs BIS: India’s bank credit-to-GDP ratio 6,28,993 crore to support Indian grew 56% in 2020 economy in the fight against COVID- Bank for International Settlements 19 pandemic. (BIS), incremental credit growth has A total of 17 measures amounting to Rs decreased to 59-year low at 5.56% in 6,28,993 crore were announced 3 broad Financial Year 2021. categories. Economic Relief from As per data, bank credit-to-GDP ratio has Pandemic (8), Strengthening Public increased to a five-year high at about Health (1), Impetus for Growth & 56% in 2020. However, this increase is Employment (8). way behind its peers and is half of the About Relied Fund G20 average. Economic relief from COVID-19 Total outstanding bank credit was at Pandemic - Rs 3,76,244 crores $1.52 trillion in 2020 at the credit-to- GDP ratio of 56%. However, this was New scheme for Public Health - Rs the second lowest among all other Asian 15,000 Crores countries. Impetus for Growth and Employment Sitharaman announced Rs 1.1 lakh - Rs 2,37,749 Crores crore loan guarantee scheme for Total - Rs 6,28,993 Crores Covid-hit sector Policy Rates Repo Rate 4.0%

Reverse Repo Rate 3.35%

Marginal Standing Facility (MSF) Rate 4.25%

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 42 Jobs ambitiousbaba.com Online Test Series

Bank Rate 4.25%

Cash reserve Ratio (CRR) 4.0%

Statutory Liquidity Ratio (SLR) 18%

ATM cash withdrawal rule changed Reserve Bank of India (RBI) has changed some rules regarding cash withdrawal from automated teller machine (ATM). • Free cash withdrawal limit from own bank: Bank customers can now do five free financial and non-financial transactions every month from their own bank ATMs. • Free ATM transaction limit from other bank: ATM card holders can do three free financial and non-financial transactions in metro centres while five in non- metro transaction from other bank ATMs • Charges on ATM cash withdrawal beyond free limit: RBI allowed banks to increase charges on ATM transactions beyond free ATM transaction limit. • Rise in interchange fee: Interchange fee per transaction changed from Rs 15 to Rs 17 for financial transactions while from Rs 5 to Rs 6 for non-financial transactions in effect from August 1, 2021. • New charges on ATM withdrawal beyond free transaction limit: Bank customer will have to pay Rs 21 (currently it is Rs 20) for each ATM cash withdrawal beyond free transaction limit in effect from January 1, 2022.

July 2021 HDFC Bank launched a SalaamDilSey initiative to show gratitude to doctors ICICI Bank launched a comprehensive for their tireless service during the banking solution for doctors pandemic, to pay tribute to doctors ICICI Bank announced the launch of across the country. the country’s most comprehensive India recorded current account banking solutions for medical surplus of 0.9% in FY21 doctors. Called ‘Salute Doctors’, it provides customized banking as well as According to the data released by the value-added services for every doctor, Reserve Bank of India, India reported beginning from a medical student to a a current account surplus of 0.9% of senior medical consultant to an owner of GDP in FY 21. In FY 20 there was a a hospital or a clinic. current account deficit of 0.9%. The reason for the Current Account Surplus HDFC Bank launched ‘Salaam Dil Sey’ in FY21 is a sharp contraction in the initiative trade deficit to US$ 102.2 billion from US$ 157.5 billion in 2019-20. India has

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 43 Jobs ambitiousbaba.com Online Test Series seen a Current account surplus for the The Reserve Bank of India (RBI) on first time in 17 years. 13th July announced the ‘RBI Retail Direct’ scheme for retail investors, LIC launched Saral pension plan through which they can directly buy The Life Insurance Corporation (LIC) and sell government securities (G- of India on 1st July 2021 launched Secs), both primary and secondary. Saral pension plan — a non-linked, As per the central bank, under the ‘RBI non-participating, single premium, Retail Direct’ scheme, retail investors individual immediate annuity plan. (individuals) will have the facility to This LIC Saral pension plan offers two open and maintain the ‘Retail Direct Gilt annuity options to the policy holders Account’ (RDG Account) with the RBI. after one-time lump sum amount “RDG account can be opened through payment. The plan also offers loan an online portal provided for the facility to the policy holder after six purpose of the scheme. months of the plan purchase. In this LIC of India pension plan, the policy holder Cabinet approved increase in DA and will can pay a lumpsum as purchase price Dearness Relief from 17% to 28% and get a fixed payment at regular The Union Cabinet headed by Prime intervals for the rest of its life. The Minister Narendra Modi has approved minimum annuity that a policy holder an increase in the Dearness can avail is ₹12,000 per annum. Allowance to Central Government became the employees and Dearness Relief to second most-valued public lender pensioners to 28 per cent. This hike represents an increase of 11 per cent Indian Overseas Bank (IOB) has over the existing rate of 17 per cent of become the second most-valued listed the basic pay/pension. The increased public sector bank (PSB) with a DA and DR rates will be effective from market capitalisation of over Rs July 1, 2021. 50,000 crore. PNB was valued at Rs 46,356 crore and BoB at Rs 44,060 FDI limit in NPS fund managers hiked crore, which are now ranked third and to 74% from 49% fourth among PSBs, respectively. The government notified a hike in the Paytm launches ‘Postpaid Mini’ to foreign direct investment limit in provide small-ticket instant loans pension fund management to 74% from 49% under the national pension Paytm has announced the launch of system (NPS). Pension Fund Regulatory Postpaid Mini, small-ticket loans that &Development Authority (PFRDA) Act will give users the flexibility to access links the FDI ceiling in the insurance loans ranging from Rs 250 – Rs 1,000, sector. in partnership with Aditya Birla Finance Ltd. Paytm Postpaid is offering a period Federal Bank launched “FEDDY” AI- of up to 30 days for repayment of Powered virtual assistant for loans at 0% interest. customers RBI Launched ‘Retail Direct Scheme’ The Federal Bank has launched “FEDDY”, an Artificial Intelligence-

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 44 Jobs ambitiousbaba.com Online Test Series

powered virtual assistant to help RBI increased loan limit of bank customers with banking-related directors to Rs 5 cr from Rs 25 lakh queries anytime. FEDDY can be The Reserve Bank of India on 23rd accessed via Alexa, Google Assistant and July increased the limit of personal WhatsApp. loans given to any director of a bank SBI selected Paisalo as its National to Rs 5 crore, from Rs 25 lakh earlier. Corporate Business Correspondent Government has permitted FDI up to State Bank of India (SBI) has selected 100% under the automatic route for “Paisalo Digital” as the National renewable energy projects Corporate Business Correspondent of Government has permitted Foreign the Bank for financial inclusion by Direct Investment (FDI) up to 100 providing banking services through percent under the automatic route for kiosks. renewable energy projects, including offshore wind energy projects. Topic 10: India’s GDP Growth Forecast FY 21 and 22 by various Financial Organizations (last Update 10 August 2021)

Organization 2020-21 FY 22 (2021-22)

Fitch (-)9.4% (Update-8 Dec) 9.5% (Update 7 May)

HSBC Bank 11.2%

RBI forecasted (-)7.5%(Update-4 Dec) 9.5% (Update 5 june)

Moody (-)7%(Update-25feb) 9.6% (2021), 7%(2022)

(Update 23 June)

Asian Development Bank (ADB) (-)8%(Update-15 Dec) 10% (Update 20 July)

World Bank (-)9.6%(Update-6 Oct) 8.3% (Update -13 June)

World Economic Outlook released (-)8% (Update-27th Jan 2021) 9.5%(Update -28 July 2021) by International Monetary Fund (IMF)

FICCI (-)8% (Update 27Jan) Organisation for Economic Co- (-)9.9% (Update-2dec) 9.9% (Update 1 June 2021) operation and Development (OECD) DBS Bank (-)6% (Update 22 July)

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 45 Jobs ambitiousbaba.com Online Test Series

Goldman Sachs (-)10.3% (Update 18 Nov) 11.1% (Update 4th May 2021)

CRISIL (-)7.7%(Update 15 Dec) 9.5% (Update 7th June)

UN (United Nation) (-)9.6%(Update 26th Jan 7.5%(Update 12 May) 2021) Confederation of Indian Industry between (-)0.9 per cent and 9.5% (update 18 June) (CII) 1.5 per cent India Ratings & Research (-)7.6% 9.6% (Update 26 June) Economy Survey (-)7.7 11% (Update 1 feb) National Council of Applied (-)7.3%(Update-26 Dec) Economic Research (NCAER)

Standard & Poor’s (S&P) (-)7.7% Update-14 Dec) 9.5% (Update 25 June)

ICRA (-)7% (Update-26 feb) 8.5%(Update 15 June) State Bank of India (SBI) (-)7(Update-11 Feb) 7.9%(Update 1 June,2021)

JP Morgan 11% (Update 19th April 2021)

CARE Ratings (-)8% (Update-14 sept) 8.8 to 9%%(Update 27 July 2021) Normura -6.7% (Update-14th Jan 2021) 10.8% (Update 11 May 2021)

Oxford Economics 10.2% Brickwork Ratings 11% (Update 12 Jan) UBS -7.5% (Update-14 Jan 2021) 10% (Update 19th April 2021)

Barclays 7.7% (Update 26 May 2021)

Click to Subscribe Our Youtube Channel for Free Complete Banking & Insurance Course

• Click here to Join Telegram Group • Click here to Join Whatsapp Group Click here to Buy Online Test Series

Download Online Mock Test Mobile APP

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 46 Jobs ambitiousbaba.com Online Test Series

Preparation Kit PDF

Most important PDF’s for Bank, SSC, Railway and Other Government

Exam : Download PDF Now

AATMA-NIRBHAR Series- Static GK/Awareness Get PDF here Practice Ebook PDF

The Banking Awareness 500 MCQs E-book| Get PDF here Bilingual (Hindi + English)

AATMA-NIRBHAR Series- Banking Awareness Get PDF here Practice Ebook PDF

Computer Awareness Capsule 2.O Get PDF here

AATMA-NIRBHAR Series Quantitative Aptitude Get PDF here Topic-Wise PDF 2020

Memory Based Puzzle E-book Get PDF here

Caselet Data Interpretation 200 Questions Get PDF here

Puzzle & Seating Arrangement E-Book for Get PDF here BANK PO MAINS (Vol-1)

ARITHMETIC DATA INTERPRETATION 2.O E- Get PDF here book

AATMA-NIRBHAR Series REASONING Topic- Get PDF here Wise PDF 2020

Yearly Subscription for Current Affairs (Feb 2021 – Feb 2022) Mock

Tests

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 47 Jobs ambitiousbaba.com Online Test Series

Click here to Buy Bank & insurance Yearly Online Test Series

Download Online Mock Test Mobile APP

Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 48 Jobs