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Important Banking Current Affairs: 29Th Dec – 4Th Jan, 2018

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Important Banking Current Affairs: th 29th Dec – 4 Jan, 2018 Important Banking Current Affairs: th 29th Dec – 4 Jan, 2018 Hello Aspirants, As promised, we are here with the ‘Weekly Current Affairs PDF’ which will eventually help you revise all the facts and details of the past week. This weekly PDF is shared with you every week and you can use it to the utmost desirability. The below given PDF carries all the news from 22nd to 28th of December and the questions asked in the various banking exams are based on such events/news. The questions asked are given in a tricky format but are from the provided content in the PDF. Banking Current Affairs (29th Dec–04th Jan): Table Of Content Government Infuses Rs 2159 Crore in United Bank of India ICICI Topped List Of Banks Penalising Staff For Fraud in 2015-2017: RBI data RBI Allows SIDBI To Use Existing Rs1000-crore Corpus for Lending To MFIs ESAF SFB Gets RBI Nod To Operate As Scheduled Bank Banks Recover Rs40,400 crore From Defaulters: RBI Report Allahabad Bank, SBI Life Join Hand For Bancassurance Partnership RBI Lifts Six Month Ban From Paytm Payments Bank RBI Provides For One-Time Restructuring Of Loans To MSMEs Syndicate Bank And SBI Life Insurance Signed Bancassurance Pact Bharti AXA Life uses WhatsApp to deliver policy, renewal premium HDFC MF Surpasses ICICI Prudential MF to Become Largest AMC in India RBI Forms Expert Panel On MSMEs under Ex-SEBI Chief UK Sinha RBI relaxes withdrawal limit for depositors of City Co-operative Bank Important Banking Current Affairs: 29th Dec – 4th Jan, 2018 Government Infuses Rs 2159 Crore in United Bank of India State-owned United Bank of India announced that the government has decided to infuse Rs 2,159 crore in the bank . The government has decided to pump Rs 28,615 crore into seven public sector banks (PSBs) through recapitalization bonds soon. ICICI Topped List Of Banks Penalising Staff For Fraud in 2015-2017: RBI data According to data furnished by the Reserve Bank of India, between 2015 and 2017, private lender ICICI Bank penalized the highest number of employees for defrauding bank assets in the last three year out of 60 scheduled commercial banks operating in India. It is followed by State Bank of India and Punjab National Bank. In all, banks took action against a staggering 13,949 officials, of which 16%, or 2,236, belonged to ICICI. RBI Allows SIDBI To Use Existing Rs1000-crore Corpus for Lending To MFIs India’s institutional framework to support microfinance would get a boost with Reserve Bank of India clearing a proposal to dig in an existing Rs 1000-crore corpus for funding microlenders. Small Industries Development Bank of India (SIDBI) had kept this money for some other purposes and had recently sought RBI’s approval for using it for the microfinance sector. The development bank will now use the money to offer soft loans to MFIs on a condition that end borrowers should get loans at 15-17% rate, which is significantly lower than the prevailing 20-22% market rate. ESAF SFB Gets RBI Nod To Operate As Scheduled Bank ESAF small finance bank has got RBI approval to operate as a scheduled bank. This makes ESAF small finance bank (SFB) the fifth scheduled bank from Kerala. ESAF microfinance institution, started in 1992, was one among the ten applicants to receive approval from RBI to start banking operations in 2016. Important Banking Current Affairs: th 29th Dec – 4 Jan, 2018 Banks Recover Rs40,400 crore From Defaulters: RBI Report Banks have seen a significant improvement in recovery of stressed assets helped by the Insolvency and Bankruptcy Code (IBC) and amendments in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, during FY18, according to the RBI data. In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17. While banks recovered Rs 4,900 crore of bad loans through the IBC, the amount recovered through SARFAESI was Rs 26,500 crore in FY18. Allahabad Bank, SBI Life Join Hand For Bancassurance Partnership Allahabad Bank and SBI Life Insurance came together and signed a bancassurance pact, to offer a holistic financial planning solution to consumers. The tie-up, one of the largest Bancassurance partnerships in the country, will see 3,238 branches of Allahabad Bank across the country offer SBI Life’s range of protection, wealth creation, and savings products to its customers. The agreement was signed in the presence of Allahabad Bank Managing Director (MD) and Chief Executive Officer (CEO) Mallikarjuna Rao and SBI Life MD & CEO Sanjeev Nautiyal. RBI Lifts Six Month Ban From Paytm Payments Bank The Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its consumers after almost six months of the ban. Paytm Payments Bank stopped enrolling new customers in June 2018, following an audit by the RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms. Important Banking Current Affairs: 29th Dec – 4th Jan, 2018 RBI Provides For One-Time Restructuring Of Loans To MSMEs Reserve Bank allowed a one-time restructuring of existing debt up to Rs 25 crore for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. To be eligible for the scheme, the aggregate exposure, including non-fund based facilities of banks and NBFCs, to a borrower should not exceed Rs 25 crore as on January 1, 2019, and the restructuring has to be implemented by 31st of March 2020. Syndicate Bank And SBI Life Insurance Signed Bancassurance Pact Syndicate Bank and SBI Life Insurance signed a bancassurance pact aiming to offer a comprehensive financial planning solution to its customers. The pact was signed between Syndicate Bank MD & CEO, Mrutyunjay Mahapatra and MD and CEO of SBI Life, Sanjeev Nautiyal. Through the pact, Syndicate Bank will provide penetration in the market with its 3,000 branches and SBI Life’s diverse range of protection, wealth creation and savings insurance products will be brought to the table to the customers. HDFC MF Surpasses ICICI Prudential MF to Become Largest AMC in India HDFC Mutual Fund has pipped ICICI Prudential MF to become the country’s largest asset management company after a gap of over two years. As of December-end, HDFC MF manages assets to the tune of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore, as per the latest data available with Association of Mutual funds in India (Amfi). The assets under management (AUM) of HDFC MF have grown over 9% in October- December quarter from the previous three-month period, however, ICICI Prudential MF’s AUM slipped by 0.6% during the period under review. Important Banking Current Affairs: 29th Dec – 4th Jan, 2018 Bharti AXA Life uses WhatsApp to deliver policy, renewal premium Private sector insurer Bharti AXA Life Insurance started delivering policies and renewal premium receipt to customers via instant messaging platform WhatsApp as a part of its alternative service option to the policy holders. Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and French Insurance major AXA is one of the first few insurers to provide the option of policy contract, renewal premium receipts and claim intimation through whatsapp. RBI Forms Expert Panel On MSMEs under Ex-SEBI Chief UK Sinha Reserve Bank set up an expert committee under former SEBI chairman U K Sinha to suggest long-term solutions for the economic and financial sustainability of the MSME sector. The eight-member committee will also examine the factors affecting the timely and adequate availability of finance to the sector. RBI relaxes withdrawal limit for depositors of City Co-operative Bank The Reserve Bank of India (RBI) has relaxed the norms for the Mumbai-based the City Co-operative Bank, allowing its depositors to withdraw a sum not exceeding Rs 5,000 of the total balance in every savings bank or current account or any other deposit account, against Rs 1,000 earlier. Earlier in April this year, the RBI had imposed several restrictions on the cooperative bank, including limiting the withdrawal by depositors to Rs 1,000 amid weakening of the financial position of the bank. Important Banking Current Affairs: 29th Dec – 4th Jan, 2018 For more free PDFs from OnlineTyari, Visit: https://onlinetyari.com/blog/free-pdfs-for- government-jobs/ For Tips & Tricks, read our blog: https://onlinetyari.com/blog Free Mock Tests for all Government Exams Click on the Exam Name for Free Mock Tests: Banking IBPS Clerk | IBPS PO | SBI PO | IBPS SO | SBI Clerk | RBI Assistant | IBPS RRB Assistant | IBPS RRB Officer Scale I | Canara Bank PO Railways RPF Sub-Inspector | RPF Constable | ALP | Group D | ALP CBT2 SSC CGL | CPO | CHSL | SSC JE Civil | SSC JE Electrical | IB Security Assistant | Stenographer | MTS | GD Constable | SE State Exams UP Police | BSSC Inter Level | RAS | Rajasthan Police Constable | UPPCS | Rajasthan LDC/UDC | Haryana Police | Rajasthan IA | UP GK | MP GK | Bihar GK | Rajasthan GK | HARYANA GK | UPSSSC VDO | UP TET About OnlineTyari.com: OnlineTyari is India’s #1 Online Test Preparation Platform for all Government Exams. 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