♦ The move would also bring larger global participation in India through IFSC and connect India's IFSC globally. It is the second-largest bank in India, next to the State Bank of India (SBI). Highlights: State-owned lender Bank of Baroda (BoB) and Union Bank of India (UBI) has lowered their lending rates by 5-10 basis points (bps).
The central bank’s DC runs critical systems that operate payments across different segments.
Check your beneficiary designations from time to time, especially after major life events such as divorce and remarriage. In September 2018, RBI had banned Bandhan Bank from expanding its network as the Bank failed to reduce the promoters' stake to 40% from close to 82% within the stipulated three-year time frame of commencing operations. ♦ The move aims to improve connectivity to national highways, interstate roads, seaports, airports, rail hubs, industrial areas, enterprise clusters, district headquarters, and agricultural areas.
♦ Every new entrant should be given information on government livelihood programme.
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved to continue the process of recapitalization of Regional Rural Banks (RRBs).
♦ Cooperative banks will now be involved in banking activities that are covered u/s 5(c) & 56(a) of the Banking Regulation Act. ♦ In the case of Unified Payment Interface (UPI), an app-based payment, there has been a significant drop as well from 132 crore in February to less than 100 crore in April.
The merger will reduce the lending cost and enhance the capacity in order to increase credit. Highlights: ♦ Earlier, the ADB's Board of Directors approved the loan to provide budget support to the government to counter and mitigate the adverse health and socio-economic impact of the pandemic.
DTTL and each of its member firms are legally separate and independent entities. The plan would cover all medical conditions, including Covid-19, and up to 10 days of hospitalization, with a cover of Rs 5,000 per day, for 30 days, DBS Bank India said in a release. The move by RBI will enable exporters to realize their receipts within the extended period.
♦ The DPI by RBI will be based on multiple parameters. The announced new rates will come into effect from 12 February.
RBI also introduced several steps to ease the pressure faced by borrowers, lenders, and other entities. When people are searching the web for current events summaries they can trust, they almost always end up on Infoplease.com. Prepare for the worst. The main objective of NIIF FOF is to create a vehicle to provide India-focused private equity fund managers with a go-to institutional investor operating at scale and based in India. ♦ Under this move, response measures to the coronavirus pandemic to implement COVID-19 containment plan to rapidly ramp up test-track-treatment capacity, and social protection for the poor, vulnerable, women, and disadvantaged groups to protect more than 800 million people over the next three months will be done. The Reserve Bank of India introduced new measures to relax the impact of the COVID-19 induced lockdown.
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