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JAIIB | CAIIB | RRB NTPC | SSC and State Government 1 Jobs Ambitiousbaba.Com Online Test Series ambitiousbaba.com Online Test Series Best Online Test Series Site for Bank | 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 Banks 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 Bank of India (RBI) has imposed Chartered Bank a monetary penalty of Rs 2 crore on Standard Chartered 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 ‘Reserve Bank of India" 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 Deutsche Bank 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 State Bank of India (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 City Union Bank, 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 central bank. 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 Punjab National Bank 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, Bank of Baroda, IndusInd Bank, Bandhan 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, Bank of Maharashtra, Central Bank of India, Credit Suisse AG, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank, The Jammu & Kashmir Bank, and Utkarsh Small Finance Bank. Rs 50 lakhs: SBI RBI fined Axis Bank 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.
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