![Page 1: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/1.jpg)
![Page 2: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/2.jpg)
BANKING Awareness July August September 2017 part 3
Copyright@Study-IQeducation
![Page 3: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/3.jpg)
IBPS PO / RBI Grade B/ SSC/ UPSC
Call 95-8004-8004729-10-594-76
Copyright@Study-IQeducation,Allrightsreserved
![Page 4: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/4.jpg)
![Page 5: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/5.jpg)
Monetary Policy Committee (MPC),
TheseventhmeetingoftheMonetaryPolicyCommittee(MPC),constitutedundersection45ZBoftheamendedReserveBankofIndiaAct,1934,washeldonOctober3and4,2017attheReserveBankofIndia,Mumbai.
Themeetingwasattendedbyallthemembers– Dr.ChetanGhate,Professor,IndianStatisticalInstitute;Dr.Pami Dua,Director,DelhiSchoolofEconomics;
Dr.Ravindra H.Dholakia,Professor,IndianInstituteofManagement,Ahmedabad;Dr.MichaelDebabrata Patra,ExecutiveDirector(theofficeroftheReserveBanknominatedbytheCentralBoardunderSection45ZB(2)(c)
oftheReserveBankofIndiaAct,1934);Dr.ViralV.Acharya,DeputyGovernorinchargeofmonetarypolicy– andwaschairedbyDr.Urjit R.Patel,
Governor
![Page 6: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/6.jpg)
Monetary Policy Committee (MPC),
keepthepolicyreporateundertheliquidityadjustmentfacility(LAF)unchangedat6.0percent.
Consequently,thereversereporateundertheLAFremainsat5.75percent,andthemarginalstandingfacility(MSF)rateandtheBankRateat
6.25percent.ThedecisionoftheMPCisconsistentwithaneutralstanceofmonetarypolicyinconsonancewiththeobjectiveofachievingthemedium-termtargetforconsumerpriceindex(CPI)inflationof4percentwithina
bandof+/- 2percent,whilesupportinggrowth.Themainconsiderationsunderlyingthedecisionaresetoutinthestatement
below.
![Page 7: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/7.jpg)
Monetary Policy Committee (MPC),
Inflationisexpectedtorangebetween4.2-4.6percentinthesecondhalfofthisyear
![Page 8: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/8.jpg)
The Reserve Bank reduced the Statutory Liquidity Ratio (SLR), the portion of deposits held by banks in government securities, by 0.5 per cent to 19.5 per cent, freeing over Rs. 57,000 crore to bank funds for lending.
According to bankers, it will not create much of a difference as several banks are holding in excess of statutory requirement.
![Page 9: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/9.jpg)
RBIsetsupSupervisoryCollegesforsixScheduledCommercialBanks whichhavesizeableinternationalpresence
StateBankofIndia,ICICIBankLtd.,BankofIndia,BankofBaroda,AxisBankLtd.andPunjabNationalBank.
Theobjectivesofthecollegesaretoenhanceinformationexchangeandcooperationamongsupervisors,toimproveunderstandingoftheriskprofileofthebankinggroup andtherebyfacilitatemoreeffective
supervisionofinternationallyactivebanks
![Page 10: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/10.jpg)
BSEinksCooperationPactwithEgyptianExchange
BSEhasjoinedhandswithEgyptianExchange(EGX)forcooperationinexchangeofinformationacrossbusinessareas.
TheexchangeaimistocrosslistandtradesecuritiesandItwouldprovidenewinvestmentalternativestoinvestorsinbothmarkets.
TheMoUbetweenBSEandEGXrepresentsanimportantstepinintegratingboththeexchangestobuildcapitalmarketflows.
ThroughthisMoUarangeofopportunitieshasbeenexploredforthedevelopmentoftheirbusinesses,productsandmarketstoshareknowledge
andstrengtheninternationalconnectivity
![Page 11: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/11.jpg)
PunjabNationalBanktiesupwithBajajAllianzGeneralfordistribution.
(BANCASSURANCE)
State-ownedPunjabNationalBank(PNB)andBajajAllianzGeneralInsurancehavesignedanagreementforthedistributionofinsuranceproductsthrough
thebranches.
Underthisagreement,BajajAllianzGeneralInsurancewillofferpersonallinesofinsuranceproducts suchashealth,personalaccident,home,motorandtravelalongwithcommerciallineofinsuranceproductssuchasproperty,
marineandengineeringinsurance,etctothebankscustomers.
Thebankhaswidespreadnetworkofaround7,000branches.
![Page 12: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/12.jpg)
SIDBIstartsmerchantbankingoperationsforMSMEs
SmallIndustriesDevelopment Bank of India saidithasstartedfullfledgedmerchant banking operationstohelpmediumandsmall
enterprises(MSMEs)tapcapitalmarketsfortheirfundingrequirements.
TheinitiativewouldenhanceaccessofMSMEstocapitalmarketsincludingSMEtradingplatformandinstitutionaltradingplatform.
![Page 13: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/13.jpg)
StandardCharteredBanklaunchesMulticurrencyForexCard
StandardChartered Bank haslauncheda'Multicurrency Forex Card'thatofferscustomerstheconvenienceofloadingupto20widelyusedcurrenciesononecard.
Thecardcomeswithanonlinereloadfacilityduringoverseastravelandisdesignedtooffertravelersasecurewaytocarrymoneywhentravellingabroad.
Someofthecurrenciesthatcanbeloadedare theUSdollar,Euro,BritishPound, Singapore dollar,Swissfranc,Thaibaht,JapaneseYenandSouthAfricanrand
StandardCharteredBankHeadquarters: London,UnitedKingdom
CEO: BillWinters
![Page 14: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/14.jpg)
KarnatakaBanklaunches“MetLoan&LifeSuraksha”
KarnatakaBankinassociationwithitslifeinsurancepartnerM/sPNBMetLife,today,announcedthelaunchof ‘MetLoan&LifeSuraksha’(MLLS), asingle
premiumplancoveringtheloanliabilityofacustomer.
Intheyearofcelebrating15yearsofitspartnershipwithM/sPNBMetLife,Bankalsointroduced ‘KBLMLLS’ appexclusivelyfortheKBLemployees toinstantly
calculatetheinsurancecoverandpremiumbasedonloanliabilityoftheirborrowers.
Theloanproductandmobileappwasunveiledby Mr.Mahabaleshwara M.S.,ManagingDirector&CEO,KarnatakaBank
![Page 15: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/15.jpg)
BoB signsMoUwithDGS&Dforservicestogovt's e-marketplace.
BankofBarodahasenteredintoanagreementwithDirectorateGeneralofSupplies&Disposal(DGS&D) forextendingvariousbankingservicesto
Governmente-Marketplace(GeM).
DGS&DhasbeenmandatedtosetupGeM,aninitiativeintendedtobringgreatertransparencyandefficiencyinpublicprocurements.
TherelationshipofthebankwithGeM willimmenselybenefitallstakeholdersandensureasupportsystemincludingadedicatedteamfor
seamlessfunctioningoftheportal
![Page 16: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/16.jpg)
TheCabinethadinApril2017approvedcreationofGeM SpecialPurposeVehicle(SPV),whichwillreplaceDGS&D,nodalpurchaseorganisation ofthe
centralgovernment.
TheGeM SPVhasbeenestablishedasNationalPublicProcurementPortaltoprovideanend-to-endonlinemarketplaceforcentralandstategovernmentdepartments, theirpublicsectorundertakings,autonomousinstitutionsandlocalbodies,forprocurementofcommongoodsandservicesinatransparent
andefficientmanner.
TheDGS&DshallbewoundupandceaseitsfunctionsbyOctoberthisyear."IncaseitisnotpossibletowindupDGS&DbyOctober31,2017,the
departmentmayextendthedateofclosurewithproperjustificationlatestuptoMarch31,2018,"
![Page 17: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/17.jpg)
SEBIinkspactwithESMAforinformationexchangeonCCPs.
MarketsregulatorSecuritiesandExchangeBoardofIndia(SEBI) hasenteredintoaMemorandumofUnderstanding(MoU)withtheEuropeanSecuritiesandand Markets
Authority(ESMA)
TheMoUwassignedforexchangeofinformationconcerningCentralCounterparties(CCPs)undertheEuropeanMarketsInfrastructureRegulation(EMIR).
What is a 'Central Counterparty Clearing House - CCP'Acentralcounterpartyclearinghouse(CCP)isanorganizationthatexistsinvarious
EuropeancountriestohelpfacilitatetradingdoneinEuropean derivatives and equities markets.These clearinghouses areoftenoperatedbythemajorbanksinthecountrytoprovideefficiencyandstabilitytothe financial
markets inwhichtheyoperate.CCPsbearmostofthe creditrisk ofbuyersand sellers whenclearingandsettlingmarkettransactions.
![Page 18: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/18.jpg)
ICICIBankoffersuptoRs15lakhinstantpersonalloanviaATMsfor60months
Thesecustomerscangetpre-qualifiedpersonalloansupto15lakhs intheirsavingsaccountinstantly.
thefacilityoffersabouquetoffeatures- swiftapplicationinsimplesteps,multipleeligibleloanamountoptionsuptoRs.15lakhbasedonpre-checkedCIBILscoresand
instanttransferofthemoneytothecustomer’saccount.
ACreditScoreortheCIBILScore isathree-digitnumericsummaryofyourcredithistory.ThescoreisderivedusingthecredithistoryfoundintheCIR(CreditInformationReport)
ACIRisanindividual’screditpaymenthistory acrossloantypesandcreditinstitutionsoveraperiodoftime.ACIRdoesnotcontaindetailsofyoursavings,investmentsorfixed
deposits
![Page 19: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/19.jpg)
ICRA,IIFCLlaunchratingsystemforinfraprojects.
AnewsystemforratingofinfrastructureprojectshasbeenlaunchedbyratingagencyICRAinassociationwiththeIndiaInfrastructureFinance
CompanyLtd(IIFCL).
Thenewsystemwillfocusontheoverallrecoveryofduesbytheinvestor/lenderoverthelifecycleoftheproject,besidesretainingthe
valuableaspectofprobabilityofdefaultalreadyadoptedbytheconventionalratingscale.
![Page 20: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/20.jpg)
Rs20notesinMahatmaGandhi2005seriessoon:RBI
Thenoteswillbesimilarindesigntothosecurrentlyincirculation.
Thenewnoteswillbebearinginsetletter‘S’inthenumberpanelandsignatureofGovernorUrjit RPatel.“Boththenumberpanelswillhaveinset
letterS.
Moreover,thebanksaidthatthedesignofthesebanknotestobeissuednowissimilarinallaspectstotheRs20banknotesinthesameseriesissued
earlier.
RBIclarifiedthatallthebanknotesinthedenominationofRs20issuedbytheBankinthepastwillcontinuetobelegaltender
![Page 21: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/21.jpg)
Accordingtothedetailedpressrelease,thedesignandsecurityfeaturesofthesebanknotestobeissuednowissimilartotheRs20banknotesinMahatmaGandhi
Series- 2005issuedearlier,exceptthefollowing:-
ObverseAscendingfontThenumeralsinboththenumberpanelswillbeinascendingsizefromlefttorightwhilethefirstthreealpha-numericcharacters(prefix)willremainconstantinsize.
IntaglioprintingThenumeral“20”,RBIseal,MahatmaGandhi’sportrait,RBIlegend,Guaranteeandpromiseclause,Governor’ssignature,Ashoka Pillaremblemwhichwerehithertoprintedinintaglio(raisedprinting)are nowbeingprintedinoffset(withoutany
raisedprinting).Further,rectangularidentificationmarkontheleftofthebanknotehasbeenremoved.
![Page 22: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/22.jpg)
Colour
Whilethereisnochangeinthecolour atthereverse,thecolour attheobverseislighter(duetoremovalofintaglioprinting).
LatentImageTheverticalbandontherightsideoftheMahatmaGandhi’sportraithithertocontainedalatentimageshowingthedenominationalnumeral“20”.Thelatent
imagewasvisibleonlywhenthebanknotewasheldhorizontallyateyelevel.Thisfeatureisnolongerpresent.
ReverseThereisnochangeinthereverseofthebanknote.
![Page 23: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/23.jpg)
SBIlaunchesrealtywebsite'SBI-Realty'tofacilitatehomebuyers.
India'slargestcommercialbank SBI saidithaslaunchedadedicatedportal'SBIRealty'thatwillhelphomebuyerstochooseflatsfromits3,000approvedprojectsacrossthe
country.
StateBankofIndiahastakenanothersteptowardscustomers'conveniencebylaunching'SBIRealty'– aonestopintegratedwebsitewww.sbirealty.inforhomebuyers
SBIRealtywillhelpcustomerstochoosetheirdreamhomefrom3,000SBIapprovedprojects,whicharespreadacross13statesandUnionTerritoriescovering30cities.
Atpresent,thereare9.5lakhhomeunitsavailableonthewebsite.Customerscancomparecurrentandpasttrendsofpricesforthepropertiesinvariouslocalitiesinthe
city
![Page 24: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/24.jpg)
YESBankgets$150mn fromOPICtofundSMElending.
PrivatesectorYesBankhasreceived$150millionfundingfromtheUSgovernmentandWellsFargotoincreaselendingtosupportwomenentrepreneursandsmallandmedium-sizedenterprisesinIndia.
ThisisthethirdroundoffundingtothebankaspartofarrangementwiththeOverseasPrivateInvestmentCorporation(OPIC) --theUSgovernmentdevelopmentfinanceinstitution-- andWells
Fargo.
Undertheagreement,OPICwillprovide$75millioninfinancingandupto$75millioninsyndicatedfinancingjointlyarrangedbyWellsFargoBanktoYesBank
$50millionofthefinancingwouldbeusedtoexpandsupporttowomen-ownedbusinesses,whileanotherequalamountwillbeusedforfinancingSMEbusinessinlow-incomestates.
RanaKapoor,managingdirectorandCEO,YESBANK
SMEscontributeabout45%ofindustrialoutputandemploy42millionpeopleinthecountry.
![Page 25: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/25.jpg)
ChhattisgarhgovttomergeDCCBs(districtcooperativecentralbanks)withstatecooperativebank.
Itaimedtoservethefarmerswithbetterandefficientbankingfacilities.
Afterthedecision,allDCCBswillbeamalgamatedintoonestatecooperativebank.Itwillenactastrongfinancialinfrastructureandemergeasaeffective
bank.
Althoughall264branchesoftheDCCBswillcontinuetofunctioninthestateassameasearlierbutfromnowonwillgiveitsservicesasascheduled
cooperativebank.Thedecisionwillbebenefitthefarmersandtheinterestrateswillcome
downbyanother1.5to2percentonloanstothem.
![Page 26: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/26.jpg)
Thiswilldirectlyaffectthestategovernment’sinterestsubsidy,whereitwillbesavingRs40-50croreannually.
Besides,thefarmerswillbegettingmodernised bankfacilitiesatthevillagelevelalongwithATMandMicroATMservices.
TheycancarryouttransactionfromanybranchinanypartofthestateandverysoonmobilebankingandInternetbankingfacilitieswillbe
added.
TheworkingcapitalofthecooperativebankwillcrossoverRs10,000croreafterthemergerandthebankwillhaveenoughmoneyfor
disbursementofagricultureloans
![Page 27: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/27.jpg)
YESBANKLaunches'YESGST'ProgramtoAssistMSMEs.
YESBANK,India'sfourthlargestprivatesectorbank,alongwithYESGlobalInstitutehaslaunched'YESGST'programforMSMEs(Micro,SmallandMediumEnterprises)underitsMSMECSRinitiative,'SayYEStoSustainableMSMEsin
India'.
YESBANKisorganizingmorethan3,000eventsonGSToverthenext6monthsinpartnershipwithNationalSmallIndustriesCorporation(NSIC),FederationofIndianExportOrganizations(FIEO)andFederationofAutomobileDealersAssociations
(FADA),amongothers.
ThebankwillhelpMSMEstounderstandtheimpactofthechangesintaxsystemandpreparethemtoknowthenewGSTtaxsystem
![Page 28: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/28.jpg)
TheBankhasalsocreatedaportalhttp://www.Yesbank.In/yes-gstwhichwillbeeasy-tounderstandknowledgematerialofallGSTrelated
information.
YESBANKhassetupamissedcallno.(8080945075) forMSMEstoaddresstheirqueriesonGST
![Page 29: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/29.jpg)
SBIwaiveschargeonIMPSfundtransferofuptoRs1,000.
Country’slargestbankSBIhaswaivedchargesforfundtransferofupto₹1,000throughitsIMPS(ImmediatePaymentService)topromotesmalltransactions.
IMPSisaninstantinterbankelectronicfundtransferservice throughmobilephonesaswellasinternetbanking.
StateBankofIndiahadbeencharging₹5alongwiththeapplicableservicetaxforIMPSfundtransferofupto₹1,000
Thechargewillgoupto₹15fortransactionsof₹1-2lakh.
GSTattherateof18percentisapplicableonallfinancialtransactions.
![Page 30: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/30.jpg)
AxisBank,IICpacttoboosttradewithLatinAmerica.
AxisBankannouncedthatitwillhelptradersboostrelationsbetweenIndiaandLatinAmericaandtheCaribbean inacollaborationwithInter- AmericanInvestment
Corporation.
ItwillfacilitatetradewithLatinAmericaandtheCaribbeaninwhichAxisBankwillparticipateintheTradeFinanceFacilitationProgramme(TFFP)asaconfirmingbank.
AxisBanksaiditisthefirstIndianBanktobeapartofsuchafacility.
TheInter-AmericanInvestmentCorporation(IIC)willbeactingonbehalfoftheInter-AmericanDevelopmentBank(IDB)
![Page 31: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/31.jpg)
36th FoundationDayofNABARDcelebratedonJuly112017
SelfHelpGroupBankLinkageProgramme(SHGBLP),thepioneeringinitiativeofFinancialInclusionbyNABARDcompleted25yearsduringthisyear
UnionFinanceMinister,ArunJaitleywastheChiefGuest
Andiswellpoisedtodeliverthesavingsandcreditservicesatthedoorstepofruralpoorespeciallywomenthroughtheirself-managedinstitutionscalled
SHGs
Commemoratingthisoccasion,NABARDhasdedicatedits36th FoundationDaytocelebratetheSilverJubileeofSHGBankLinkageProgramme
![Page 32: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/32.jpg)
Sinceitspilotstagein1992,theSHGProgrammehascomealongwayincoveringmorethan10 croreruralfamilies.
Ason31st March,2017thesegroupshadsavingsofmorethanRs16,000croreinbanksanddoubleofthatamountintheirinternallending.
TheProgramhadacatalyticeffectinsourcingcollateralfreeloanstothetuneofRs61,000croretothesepoorwomenfromthemainstream
bankingsystematthenormalratesofinterest.
Withmorethan8.5croreruralwomen asthedirectparticipantsinthismassmovement,NABARDcelebratedtheSilverJubileeofSHGBLPat
Vigyan Bhavan innationalcapital.
![Page 33: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/33.jpg)
TheSelf-HelpGroup-BankLinkageProgramme(SBLP),whichstartedasapilotprogrammein 1992 hasdevelopedwithrapid
stridesovertheyears.
SHG-BankLinkageProgrammewasstartedonthebasisofrecommendationof SKKalia Committee.
![Page 34: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/34.jpg)
![Page 35: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/35.jpg)
FMlaunchesanewtaxpayerservicemoduleAaykar Setu
Anewtaxpayerservicemodule ‘Aaykar Setu’,waslaunchedbytheUnionFinanceMinister,ArunJaitley.
Thise-initiativewouldhelpinreducingphysicalinterfacebetweenassessesandtaxassessingauthoritiesandtherebyminimizingthechancesofanytax
harassment.
ThenewstepisaneffortbytheIncomeTaxDepartment(ITD)to directlycommunicatewiththe taxpayers,onarangeofmultipleinformativeandusefultaxservicesaimedatprovidingtaxinformationattheirfingertips.
![Page 36: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/36.jpg)
AtaxpayercandofollowingworksusingtheAaykar Setu mobileapp:-- BringsTRPatyourdoorstep-- Makesyourreturnspreparationeasier-- Providesyoudifferenttaxtools-- Makestaxpaymentseasierforyou.-- AllowsyoutoapplyforPAN-- AllowsyoutotrackTDS-- Comeswithagame'TaxGyaan'toteachyouabouttaxes-- Offersachatboardforallyourtax-relatedqueries
AlltaxpayerswhowishtoreceivesuchSMSalertsareadvisedtoregistertheirmobilenumbersinthe Aaykar Setumodule.
TheCentralBoardofDirectTaxes(CBDT)constantlyendeavours toprovidebettertaxpayerservicesandreducetaxpayergrievances. Newschemesande-initiativestoeducatethetaxpayersanddelivertaxpayerservicesinaneffectivemannerarekeyto
thiseffort
![Page 37: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/37.jpg)
ThirdtrancheofSovereign gold bond
Thebondswillbesoldthroughbanks,StockHoldingCorporationofIndiaLtd(SHCIL),designatedpostoffices,andtheNationalStock
ExchangeandtheBSE.
TheSGB(sovereigngoldbond )schemewaslaunchedinNovember2015withanobjectivetoreducethedemandforphysicalgoldandshiftapartofthedomesticsavings,usedforpurchaseofgold,into
financialsavings.
TheGovernmentofIndia,inconsultationwiththeRBI(ReserveBankofIndia), decidestoissuesovereigngoldbonds
![Page 38: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/38.jpg)
Minimuminvestmentinthebondsisonegram,withamaximumlimitofsubscriptionof4kggramsperpersonper
fiscalyear
Earlier500gramsperpersonperfiscalyearAccordingtothestatement,theinvestmentlimitperfiscal
yearhasbeenincreasedto4kgforindividuals,4kgforHinduUndividedFamily(HUF)and20kgfortrustsandsimilarentitiesnotifiedbythegovernmentfromtimetotime.
![Page 39: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/39.jpg)
Whatistheminimumandmaximumtenure?Thetenureofthebondisforaperiodof8years.However,thereareexitoptionsfrom5thyeartobeexercisedontheinterestpayment
dates.
TheWhyshouldyougoforit?Thepriceofthebondislinkedtothegoldprice.Whengoldpricesrisethevalueofyourinvestmentgoesup.Moreover,thebond
wouldearnyouaninterest2.5percentperannumonthetopofit.ThentherearenoannualrecurringexpensescomparedwithgoldETFs. Youalsosaveonhandlingandstoragecostsofphysicalgold.
Investmentscanbeusedascollateralforgettingabankloan.
![Page 40: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/40.jpg)
Theinvestorswillbecompensatedatafixedrateof2.50%perannumpayablesemi-annuallyonthenominalvalue.
Indiaimportsaround1,000tonnesofgoldeveryyear,resultinginlarge-scaleforeignexchangeoutflows.
Priceofbondwillbefixedinrupeesonthebasisofsimpleaverageofclosingpriceofgoldof999purity publishedbytheIndiaBullionandJewelersAssociationLtdfortheweek(MondaytoFriday)
precedingthesubscriptionperiod.
![Page 41: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/41.jpg)
Aretheytaxable?
Unlikephysicalgold,buyinggoldthroughgoldbondschemewillsaveyoufromshelling 3% GST on gold.Also,UnionBudget2016-17allowedanycapitalgainsarisingoutof
redemptionofsovereigngoldbondstobetaxexempt.Butanycapitalgainduetoasaleinsecondarymarketbefore
maturityresultsintaxationat20%withindexation,ifsoldonorafterthreeyears,orwouldbesubjecttomarginaltaxrate
ifsoldbeforethreeyears.
![Page 42: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/42.jpg)
NepalSBIlaunchesfirstpaperlessBankingservices.
The StateBankofIndia (SBI)haslauncheditsflagshipserviceINTOUCHinNepal
NepalRastra BankGovernorChirinjibi Nepal,SBIBanksthenchairpersonArundhatiBhattacharyaandIndianAmbassadortoNepal
Manjeev SinghPuri,jointlyinauguratedthenewserviceinNepal
ItwilloffercustomersproductslikeSavingsBank,Saral Bachat AccountandComboSavingsAccountandthebranchwillhavefacilitieslike
kiosksforaccountopening,debitcardprinting,andATM.
![Page 43: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/43.jpg)
ItwouldbethefirstofitskinddigitalinitiativeinNepalbankingindustry alongwithINTOUCH.
UndertheDigitalVillageInitiative,theNSBLhasadoptedJaharsing Pauwavillage toprovidefinancialliteracycentres andotherbankingfacilitiestothe
2,200villagers.
Theservicestothe443householdswouldincludeaninternetbankingkiosk,freeWiFi,POSutilityatfourmerchantoutlets,cashrecyclemachines.
TheNSBLisamongthefastestgrowingcommercialbanksinNepalandenjoysaleadpositionintermsofpenetrationoftechnologyproducts.
NSBLisaJVbetweenSBIandtheEmployeesProvidentFund,Nepal,
![Page 44: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/44.jpg)
MobiKwik,SamsungPaytoenableone-tappaymentsolutionfore-walletusers.
Aspartofthetie-up, MobiKwik walletisnowintegratedwith Samsung PayMinitoenableone-tappaymentsatmorethan1.4millionMobiKwik-
poweredmerchantsacrossthecountry.
MobiKwik's mobilewalletwillalsobeavailablesoonto Samsung Payusers.
Therehasbeenamassivegrowthinnumberoftransactionsusingdigitalplatformsinthecountry,especiallyafterthegovernment'smovetoscrap
high-denominationnotesinNovember.
![Page 45: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/45.jpg)
Samsung Pay,themobilepaymentsserviceoftheworld'slargesthandsetmaker,waslaunchedin India inMarchthisyear.
Itallowsuserstojusttapandpayusingthedebit/creditcardsandwalletsstoredontheirmobiledevices.
Samsung hadunveileda'Mini'versionoftheplatformthatintegrates UPI andmobilewalletstoworkonmid-rangepriced
smartphones.It,however,doesnotsupporttap-and-payusingcreditanddebitcardslikethemainapp.
CEOMobikwik : BipinPreetSingh
![Page 46: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/46.jpg)
IndiatojoinnewGlobalforeignexchangecommittee.
IndiawillsoongetaseatontheGlobalForeignExchangeCommittee(GFXC),anewly-constitutedforumofcentralbankersandexpertsworkingtowards
promotionofarobustandtransparentforex market.
ThecommitteehasbeensetupundertheguidanceoftheBankforInternationalSettlements(BIS),aninternationalfinancialorganisation
ownedby60membercentralbanks,representingcountriesfromaroundtheworld.
TheGFXCwasestablishedinLondonduringameetinginMay2017ofpublicandprivatesectorrepresentativesfromtheforeignexchangecommittees
(FXCs)of16internationalforex tradingcentres.
![Page 47: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/47.jpg)
Thenewlyexpandedandformalised GFXC,replacesasimilarbutmoreinformalorganisation ofeightFXCsfromAustralia,Euroarea,Canada,HongKong,Japan,
Singapore,UKandUS.
Itwillnowalsoincluderepresentativesfromexisting,orsoontobeestablishedFXCsorsimilarstructuresinChina,India,Brazil,Korea,Mexico,SouthAfrica,
SwedenandSwitzerland.
TheobjectivesGFXC.
PromotecollaborationandcommunicationamongthelocalFXCsandnon-GFXCjurisdictionswithsignificantFXmarkets...
ExchangeviewsontrendsanddevelopmentsinglobalFXmarkets,includingonthestructureandfunctioningofthosemarkets,drawingoninformationgatheredatthe
variousFXCs.
![Page 48: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/48.jpg)
Promote,maintainandupdateonaregularbasistheFXGlobalCode(theCode)andconsidergoodpracticesregardingeffective
mechanismstosupportadherence.
Itwillalsomaintainandupdate‘GlobalCodeofConduct fortheForeignExchangeMarkets’issuedbyBankforInternational
Settlements(BIS).
HQBIS- Basel, Switzerland
Generalmanager- JaimeCaruana
![Page 49: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/49.jpg)
RBIconsideringsettingupPublicCreditRegistryinIndia
TheReserveBankofIndia(RBI)mayconsidersettingupaPublicCreditRegistry(PCR),whichwillbeanextensivedatabaseofcreditinformationforIndiathatisaccessibletoallstakeholders.
RBIDeputyGovernorViralAcharya highlightedtheneedtosetupapubliccreditregistrywhiledeliveringthethemetalkatthe11th
StatisticsDayConference.
ReserveBankcelebratedits‘11thAnnualStatisticsDayConference’onJuly04,2017ontheTheme‘NewFrontiersonStatisticalMethodsand
InformationBaseforCentralBanks’.
![Page 50: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/50.jpg)
AccordingtotheWorldBankDoingBusinessProject,"Publiccreditregistrycoveragereportsthenumberofindividualsandfirmslistedinapubliccreditregistrywithcurrentinformationonrepaymenthistory,unpaiddebts,orcreditoutstanding.Thenumberis
expressedasapercentageoftheadultpopulation."
TheytendtobedifferentfromCreditInformationbureauwhichtendstocatertotheinformationrequirementsofcommerciallendersandisprivatelyowned.
Whileapubliccreditregistrydataaregearedtowardsusebypolicymakers,regulators,andotherofficialsandaregenerallyownedbyacentralbankofacountry.
PublicCreditRegistryismanagedbyapublicauthoritylikethecentralbankorthebankingsupervisor,andreportingofloandetailstotheregistrybylendersand/or
borrowersismandatedbylaw.
![Page 51: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/51.jpg)
Acharya mentionedthatpubliccreditregistrywillhelpRBIineffectivelymonitoringdelinquenciesincreditmarketand
interveneatanearlyphase.
Itwillbringinefficiencyinthecreditmarketbyhelpingthelendersinappraisalsandmonitoringoftheloanportfolio.
Theregistrywillalsohelpthecauseoffinancialinclusionofthesmallbusinessesandindividualsbyallowingthemtoestablish
theirreputationviatheregistry.
![Page 52: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/52.jpg)
Canara HSBCOrientalBankofCommerceLifeInsurancetiesupwithDhanlaxmi Bankformarketingbancassurance.
PrivatelifeinsurancecompanyCanara HSBCOrientalBankofCommerceLifeInsurance,hasenteredintoanalliancewith
Dhanlaxmi Bank.
AllthelifeinsuranceproductsofCanara HSBCOrientalBankofCommerceLifeInsurancewouldbemadeavailabletocustomersofDhanlaxmi Bankandwouldbesoldbythelicensedstaffofthebank.
AnujMathur,chiefexecutiveofficer,CanaraHSBCOrientalBankofCommerceLifeInsuranceCompanyLimited
![Page 53: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/53.jpg)
Canara HSBCOrientalBankofCommerceLifeInsurancehasaccesstoaround115millioncustomersandapan-Indianetworkofover9500
branchesofthethreeshareholderbanks
Dhanlaxmi Bankhasanetworkof260branchesand371ATMscovering129citiesacrossIndiain15statesand1unionterritoryandacustomerbaseofover2million.Aspartoftheagreement,thebank
willbeacorporateagentfor3years
HQDhanlaxmi Bank:Thrissur,Kerala
CEODhanlaxmi Bank: G.Sreeram
![Page 54: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/54.jpg)
RBIallowsNBFCstooffernewpensionscheme.
TheReserveBankofIndiahasallowedsystematicallyimportantnonbankingfinancecompaniestosellandmarketthenewpensionscheme
(NPS).
NBFCswithassetsizeofRs500croreandabovethathavemadeanetprofitintheprecedingfinancialyearbepermittedtosellNPStotheir
clientsafterregistrationwiththepensionregulator.
The NewPensionScheme wasinitiatedbythegovernmentin2009,givingpeoplearoutetoavailapensionaftertheyareretiredorasasenior
citizen.
![Page 55: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/55.jpg)
Governmentemployeesalreadyenjoypension,andthisnewschemewasintroducedtoenablethepeoplefromunorganised sectorstoenjoythe
benefitsofpension.
Acontributionofacertainamountismadeeverymonthduringtheyearswhenanindividualisactivelyworking.
Thisamountisinvestedaspertheindividual’spreference.
Themoneycanthenbewithdrawnataminimumageof60years.
Thereareacoupleofoptionsforinvestmenttochoosefrombasedontheindividual’spreferenceofassetallocationandwithdrawal.
![Page 56: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/56.jpg)
EligibilityCriteriaforNewPensionScheme
TheapplicantfortheschemeshouldbeanIndiancitizen
Theapplicantshouldbeaminimumof18yearsofage
Theapplicantshouldbeamaximumof60yearsofage
TheminimumcontributiontobepaidisRs.500
Thecontributionhastobemadeatleastonceperyear.
TheminimumannualcontributionshouldbeRs.6,000
ThemaximumcontributiontotheschemeshouldnotexceedRs.12,000perannum
![Page 57: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/57.jpg)
AirtelPaymentBanktiesupwithHPCLforATMservices
AirtelPaymentsBank,whichhasachieved10millioncustomerbasesincelaunch,hastiedupwithHindustanPetroleum
CorporationLimited.
ForenablingallitspetrolstationsthataretypicallycashsurplustobeusedasATMpointsforcustomersofthebank
All14,000HPCLfuelstationswillactasbankingpointsforAirtelPayments
![Page 58: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/58.jpg)
Thesecashlesspaymentscanbemadeviasmartphones(MyAirtel App)aswellasfeaturephones(USSD),thecompanysaid.
Thecustomerisnotchargedanytransactionfeeforthesedigitalpayments.
AirtelPaymentBankisa80:20jointventurebetweenBharti AirtelLtdandKotak MahindraBank.
MD&CEO– Shashi Arora
![Page 59: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/59.jpg)
RBIconstitutesinternalgrouptoimproveMCLR
RBIannouncedinAugustthatithasconstitutedan internalstudygrouptostudythemarginalcostoffundsbasedlendingrate(MCLR) toimprovemonetarypolicy
transmission.
ThisstudygrouphasbeenformedastheexperiencewiththeMarginalCostofFundsBasedLendingRate(MCLR)systemintroducedinApril2016 forimprovingthe
monetarytransmissionhasnotbeenentirelysatisfactory,eventhoughithasbeenanadvanceoverthebaseratesystem.
However,RBIdidnotelaborateonwhatexactlyistheproblemwiththecurrentMCLRregime.
Thestudygroupwillalsoexplorelinkingthebanklendingratesdirectlytomarketdeterminedbenchmarksand willsubmititsreportbySeptember24,2017
![Page 60: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/60.jpg)
Themarginalcostoffundsbasedlendingrate(MCLR)
Itreferstotheminimuminterestrateofabankbelowwhichitcannotlend,exceptinsomecasesallowedbytheRBI.
Itisaninternalbenchmarkorreferencerateforthebank.MCLRactuallydescribesthemethodbywhichtheminimuminterestrateforloansisdeterminedbyabank- onthebasisofmarginalcostortheadditionalorincrementalcostofarrangingonemorerupeetothe
prospectiveborrower.
TheMCLRmethodologyforfixinginterestratesforadvanceswasintroducedbytheReserveBankofIndiawitheffectfromApril1,2016.
Thisnewmethodologyreplacesthe baserate systemintroducedinJuly2010
![Page 61: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/61.jpg)
ReasonsforintroducingMCLR
RBIdecidedtoshiftfrombaseratetoMCLRbecausetheratesbasedonmarginalcostoffundsaremoresensitivetochangesinthe policyrates.
Thisisveryessentialfortheeffectiveimplementationofmonetarypolicy.PriortoMCLRsystem,differentbankswerefollowingdifferentmethodologyforcalculationofbaserate/minimumrate–
thatiseitheronthebasisofaveragecostoffundsormarginalcostoffundsorblendedcostoffunds.Thus,MCLRaims
Toimprovethetransmissionofpolicyratesintothelendingratesofbanks.
Tobringtransparencyinthemethodologyfollowedbybanksfordetermininginterestratesonadvances.
Toensureavailabilityofbankcreditatinterestrateswhicharefairtoborrowersaswellasbanks.
Toenablebankstobecomemorecompetitiveandenhancetheirlongrunvalueandcontributiontoeconomicgrowth
![Page 62: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/62.jpg)
SBI,SamsungcollaboratetoadvanceDigitalIndiainitiative.
The State Bank of India (SBI)and Samsung India announcedtheavailabilityof Samsung Payforhighervariantsof SBI debitcard,givingamajorboostto
government's'Digital India'initiative.
Samsung Payworkson2.5millionPointofSale(PoS)CardmachinesacrossthecountrythroughitsMagneticSecureTransmission(MST)technology.
Samsung Payiscurrentlyavailableonawiderangeof Samsung smartphones,enablingconsumerstomakeofflinepaymentswithouttheneedforaphysicalCard.
Companyintroduced Samsung PayMinitocatertotheuniquerequirementsofmid-segmentconsumers
![Page 63: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/63.jpg)
India,ASEAN-5morefetchingtoFDIthanotheremergingmarkets
IndiaalongwithIndonesia,Malaysia,Thailand,thePhilippinesand Vietnam ismoreattractivetoFDIsascomparedtoother
emergingmarkets,saysa Nomura report.
TheJapanesefinancialservicesmajorhasdubbedIndiaandASEAN-5as"Asia'stigercubs",andsaidFDIinflowstothesenationswillincreasefromaroundUSD100billionperyearnowtoaroundUSD
240billionby2025.
![Page 64: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/64.jpg)
FactorsthatareexpectedtoencourageFDIintoIndiaandASEAN-5include
largeandgrowingdomesticmarkets;reformsfocussed onimprovinginfrastructureandtheeaseofdoingbusiness;amoreopenandliberalFDIregime;soundeconomicmanagementandpoliticalstability;andavailability
oflow-costlabour.
Intermsofequitymarketimplications,NomurasaidinIndia,FDIisexpectedtoflowintosectorsthatneedgrowthcapital(infrastructure,banks,e-
commerceandhospitals)andthosewithstronglong-termgrowthprospects(retail,automobiles,pharmaceuticalsanddiagnostics).
![Page 65: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/65.jpg)
SBItoraise2000croreviaBASEL-IIIbonds
India’slargestlenderStateBankofIndia(SBI)planstoraiseRs2,000crore byallottingAT1Basel-IIIcompliantbondstovarious
investors.
Additionaltier-1(AT1)securities
SBIsaidthebondswillcarryacouponrateof8.15%perannumwithacalloptionafterfiveyearsortheanniversarydate
thereafter.
![Page 66: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/66.jpg)
FinanceMinisterArunJaitleyannouncesnewETF-Bharat-22;Sectoral capsetat20%.
Thegovernmentannouncedthelaunchofitssecondexchange-tradedfund(ETF),Bharat22,whichwillcomprise22stocksincludingthoseofcentralpublicsectorenterprises(CPSEs),publicsectorbanksanditsholdingsundertheSpecifiedUndertakingofUnitTrustofIndia(SUUTI).
FinanceministerArunJaitleysaidtheETFwillhaveadiversifiedportfolioofcompaniesfromsixsectorswitha20%caponeachsectoranda15%caponeachstock.
Exchange-tradedfunds(ETFs)areessentiallyindexfundsthatarelistedandtradedonexchangeslikestocks.
“PresentlawpermitsthegovernmenttobringdowngovernmentequityinPSBsto52%,”
Thegovernmenthasseta“stifftarget”ofRs72,500crorefordisinvestmentin2017-18
![Page 67: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/67.jpg)
AsiaIndexlaunchesS&PBSEBharat22
AsiaIndexPvt.Ltd,anequaljointventurebetweenS&PDowJonesIndicesLLCandBSELtd,announcedthelaunchoftheS&PBSEBharat22Indexwhichisdesignedtotracktheperformanceofselectblue
chipgovernmentcompanieslistedonBSE.
TheS&PBSEBharatCPSEIndexcomprises22selectedcompaniesofwhich
16areCentralPublicSectorEnterprises(CPSE).
3arefromSpecifiedUndertakingoftheUnitTrustofIndia(SUUTI)
3arePSUBanks,andarelistedontheBSE.S&PBSEBharat22hasbeenlicensedtoICICIPrudentialAMCfordevelopmentofanexchangetraded
fund(ETF)basedontheindex.
Itcoverssixsectorsnamelyindustrials,finance,utilities,energy,FMCG,basicmaterialsandtelecom
![Page 68: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/68.jpg)
Canara Bankhitsoverseasbondmarketwith$400-mnissue.
State-runCanara Bankisintheinternationalbondmarketwitha$400-millionissueaspartofits$2-billionmediumtermnoteprogramme.
Canara Bankisintheinternationaldebtmarketwithabenchmarkdollarbondissuethatwillhaveatenorof5years.
Thelenderislikelytoraise$400millionthroughthebondsaleissue,whichwillbedrawnthroughitsLondonbranchandwillbelistedontheSingaporeStock
Exchange.
![Page 69: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/69.jpg)
Kotak Bank’snewforex service‘Kotak Remit’.
Kotak MahindraBankhaslaunchedKotak Remit— anAadhaar-basedintegratedoutwardforex remittancesolutionforbothcustomersandnon-customers.
The24x7forex remittanceserviceoffersacompletelypaperlessprocessthatenablesuserstoregisteronlineusingAadhaarandPANnumbers,andinitiate
remittancesinstantly.
Remittancescanbemadein15currencies.
AvailableforresidentindividualsholdingasavingsaccountwithanybankinIndia
![Page 70: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/70.jpg)
Companiestodisclosebankdefaultswithinoneday:SEBI
Inafirst-of-its-kindmovetoincreasedebtdisclosuresbycorporateentities,themarketregulatortightenedthenormsforlistedcompaniesthatendupdefaulting
onloanrepayments.
ThemovebytheSecuritiesandExchangeBoardofIndia(Sebi)comesagainstthebackdropofRs10trillionofstressedassetspilingupinthebankingsystem.
Currently,theSebi ListingObligationsandDisclosureRequirementsRegulationsrequirespecificdisclosuresondelayordefaultinpaymentofinterestorprincipal
ondebtsecurities,includinglistednon-convertibledebentures,listednon-convertibleredeemablepreferenceshares,andforeigncurrencyconvertiblebonds.
Similardisclosuresarenotstipulatedwithrespecttoloansfrombanksandfinancialinstitutions
![Page 71: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/71.jpg)
Sebi hasdirectedthat,starting1 October,listedcompanieswillneedtodisclose defaults on loan repayments within one working day.
Listedcompanieswouldneedtoinformexchangesincasetheyhavedefaultedinpaymentofinterest,instalment obligationsondebtsecurities,loansfrombanksandfinancialinstitutionsandexternal
commercialborrowings.
Companieswouldneedtodisclosedateofdefault,nameofthebank/financialinstitutionthatlentthemoney,defaultamountand
grossprincipalamountonwhichthedefaultoccurred.
![Page 72: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/72.jpg)
MobiKwik partnersBajajFinanceforLargerfinancialservicepie.
MobiKwik hasenteredintoastrategicpartnershipwithBajajFinanceLtdtotransformitselfintofinancialservicesAppfromapaymentApp.
Underthisstrategicpartnership,BajajFinancehaspickedup10.83percentequitystakeinMobiKwik forabout Rs. 225croreandofferitslending(purchasefinance,creditcard,
mortgageloansandpersonalloans)andinsuranceproductstobesoldthroughMobiKwik App.
MobiKwik,whichcurrenthasuserbaseof55million,willthroughthispartnershipimmediatelygetaccesstoabout100millioncustomersofBajajFinance.
Upasana Taku,Co-Founder,MobiKwik saidFromacombinedcustomerbaseof155million itwillaimtoofferfinancialservicesto300million usersinnextcoupleofyears
![Page 73: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/73.jpg)
Mastercard,PayPalexpandpartnershipintoAsiaPacific.
Mastercard andPayPalhaveannouncedanextensionoftheirpartnershipintoAsiaPacificformakingMasterCardaclearpaymentoptionwithinPayPal.
PayPalwilladdMastercard asapaymentmethodtotheire-walletandconsumerscanmakeittheirdefaultpaymentoption.
CardCompanywillprovidetokenizationservicesandwillenablemobilepaymentsusingPayPal’sdigitalwalletatmorethan6.5millioncontactless-enabled
merchantlocationsacrosstheglobe.
ThepartnershipwillalsoaddMasterpassasapaymentoptionformerchantsthatprocesspaymentsviaBraintree.
![Page 74: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/74.jpg)
FinanceMinistrypaneltoresolvebankpensioner’sissues.
TheDepartmentofFinancialServices,MinistryofFinance,hassetupacommitteetoresolvethependingissuesofbankpensionersandretirees.
ThisistheoutcomeofaseriesofmeetingstheAllIndiaPensionersandRetirees’ConfederationhadwiththeUnionFinanceMinisterArunJaitley;MinisterofStateSantoshKumarGangwar;and
departmentofficials.
Demandsofthepensioners/retireesinclude:
100percentDAneutralisation forpre-2002retirees;
Improvementinfamilypension
![Page 75: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/75.jpg)
Medicalinsuranceandamedicalbenefitscheme.
Pensionupdation.
Secondoptionstocompulsorilyretiredofficersandresignees whohaveputinapensionableservice
AIBPARC(AllIndiaBankPensioners&RetireesConfederation)isanorganisation oftheRetirees,fortheRetireesandbytheRetireesoftheBankingSector.
PresidentAIBPARC :KVAcharya
GeneralSecretary :S R SenGupta
![Page 76: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/76.jpg)
ICICIbanklaunchesinstantcreditcardwiththelimitupto4lakhs.
Ithaslaunchedinstantcreditcardsenablingitssavingsaccountcustomerstogetacreditcardinstantly,inacompletelydigitaland
paperlessmanner
Thebankhasopenedupthisofferingtoafewlakhofpre-qualifiedcustomerswhocanapplyforthecardonlineandgeneratecard
detailsandstartshoppingonlineinstantly.
Availableround-the-clockandonalldays,thebankhasopenedupthecardwithacreditlimitofuptoRsfourlakhbasedonpre-
checkedbureauscoresItwillalsobeavailableshortlyon iMobile,theBank’smobile
bankingapplication
![Page 77: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/77.jpg)
IDFCBankpartnerswithZETAfordigitalpaymentssolution.
PrivatesectorlenderIDFCBankhaspartneredwithdigitalpaymentscompanyZeta,tolaunch‘IDFCBankBenefits’- apaymentsolutionforcorporates thatdigitises employeespendsand
claims,makingtheprocesssimple,real-timeandpaperless.
Theend-to-enddigitalsolutioncomprisesanIDFCBankBenefitsCardandZetaappwhichintegratesthefullsuiteofallowancesandreimbursementsofferedbyanemployerintoone
preloadedcard.
EmployeescanalsoaccesstheBenefitsCardviatheZetaapponmobileorweb.Thisenablesthemtotrackspends,entitlementlimitsandsubmitclaims,digitally,whileon-the-move.
CEOANDCO-FOUNDERZETA:Bhavin Turakhia
CTOANDCO-FOUNDER:Ramki Gaddipati
![Page 78: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/78.jpg)
PNBintroducesBiometricattendanceregister.
PunjabNationalBank(PNB)hasintroducedabiometricattendanceregisterintheplaceoftheexistingsystemofsigningattendanceintheattendanceregister.
Thenewsystemofmarkingattendancewillbeimplementedinbranches/officeswithimmediateeffect,thecircularissuedon3rd August.
Thebiometricattendancedevicewillcapturetheattendancealongwiththetimeofmarkingtheattendance.
![Page 79: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/79.jpg)
Canara Bank launches two new digital services.
Thetwoservicesare:Bharat QR (Quick Response) isforpaymentsettlementatmerchantlocations.
Thefirstserviceisamobileapplication,whichenablesamerchanttoacceptpaymentsassettlementforsaleofgoodsorservices.
"MerchantsenrolledbyCanara bank willbeallottedaQRcodeinlinewiththeBharatQRcodestandards.Asthesolutionisinteroperable,customersofany bank canmakethepaymentusingthe
mobilebankingfacilityoftheirbank.The second product (BBPS), aninitiativeoftheReserve Bank ofIndia(RBI)andmanagedbytheNational
PaymentsCorpofIndia(NPCI),offersbillpaymentservicestothebank'snetbankingcustomerswithnetworkofagents.
”Bankenabled144billerscoveringtelephone,electricity,water,gassupply,DTH(direct-to-home)andmobilenetworksamongothers.
The bank isallowingitscustomerstopaythebillsatzerocost.
Thegovernmenthasseta25billion digital transactionstargetbytheendofthisfiscalyear(2017-18)forallthebanksacrossthecountry.
![Page 80: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/80.jpg)
Flipkarthasbecomethethirdmostfundedprivatecompanyglobally.
Withthe$2.4billionitjustreceivedfromJapanesetechnologyandtelecomgiant SoftBank,Flipkarthasbecomethethirdmostfundedprivatecompany
globally.
Thehomegrowne-commercecompanyhastodateraisedalmost$7billionincapital,higherthanthatraisedbyglobalbehemothslikeonlinehouserentalaggregatorAirbnb ($3.3billion)andmobilephonemakerXiaomi ($1.4billion).
Thetoptwoarebothridehailingplatforms— Chinabased Didi Chuxing andUSbasedUber.
![Page 81: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/81.jpg)
InApril,Didi Chuxingraised$5billionandincreaseditstotalfundraiseto$15billion,overtakingUber thathasraised$12.9billion.
Inthetop10,fourareride-hailingplatforms,theothertwobeingSiliconValley-basedLyft andIndia'sOla.
Flipkartistheonlye-commercecompanyinthetop10.TheFlipkartfundingreaffirmsthefaithofglobalplayerslikeSoftBank,TigerGlobal,eBay,andMicrosoftinIndian
companies.
Invaluation,Flipkartstandsattheninthpositionwithabout$15billion.Uberisthemostvaluedcompanyat$68billion,followedbyDidi Chuxingat$50billion,andXiaomiat$46
billionSoftBank:
CEOandfounder:MasayoshiSon
![Page 82: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/82.jpg)
SBIgivesleg-uptoCSRinitiatives,adopts50villages.
Thenation'slargestlender StateBankofIndia launcheda CSR initiative, SBI GramSeva,whichwillworkintheareasofhealth,education,environmentandrural
infrastructure
The SBIFoundation willidentifyandpartnerwithNGOstocarryoutCSRinitiativesunderwhichitadoptfivevillageseachfrom10villagepanchayats with
eachvillagegettingaroundRs2.40croreoverthenextthreeyears
SBIthenChairpersonArundhatiBhattacharyahas mentionedthat10grampanchayatscomprisingof50villagesinsixstateshavealreadybeenadopted,and
thebankplanstoadopt100grampanchayatsinthenextthreeyears.
![Page 83: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/83.jpg)
CityUnionBankoffersinstantcreditcards
Thebankintroducedtheoptionofan“instantcreditcard”forfreeforitsNetbankingcustomers.
AccordingtotheBanksourcesabout80customershadgeneratedacreditcardonDay1.
Allthatacustomerhastodoislogontohis/hernetbankingaccountandseekacreditcard.Only,thecustomermusthaveafixeddepositwiththebank
The customer will be allowed a credit limit of up to 80 per cent of the deposit or a maximum of ₹3 lakh.
OncapturingthePDFimageofthecard,thecustomercangoonlineshoppinginstantly.CUBhastied-upwithMasterCardfortheinstantcreditcard.
CityUnionBankHQ:Tamilnadu
CEO: Dr.N.Kamakodi
![Page 84: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/84.jpg)
Aadhar mustforsubsidised farmloans:RBIReserveBankofIndia(RBI)
Inlinewiththegovernment'spolicy,theRBIsaidfarmerscanavailofshort-termcroploansofuptoRs3lakhatsubsidised interestrateof7%
thatcouldgodownto4%onpromptrepayment.
TheRBIhasalsoannouncedaninterestsubvention(subsidybygovernment)of2%forthefirstyearonloansthathavebeenrestructured
followingnaturalcalamities.
Toensurehassle-freebenefitstofarmersundertheInterestSubventionScheme,thebanksareadvisedtomake Aadhaar linkagemandatoryfor
availingofshort-termcroploansin2017-18,"theRBIsaid.
![Page 85: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/85.jpg)
InterestSubventionScheme
TheUnionCabinetchairedbythePrimeMinisterShri NarendraModihasapprovedtheInterestSubventionScheme(ISS)forfarmersfortheyear2017-18.
ThiswillhelpfarmersgettingshorttermcroploanuptoRs.3lakhpayablewithinoneyearatonly4%perannum. TheGovernmenthasearmarkedasumofRs.20,339crore
forthispurpose.
TheinterestsubventionwillbegiventoPublicSectorBanks(PSBs),PrivateSectorBanks,CooperativeBanksandRegionalRuralBanks(RRBs)onuseofownfundsandto
NABARDforrefinancetoRRBsandCooperativeBanks.
TheInterestSubventionSchemewillcontinueforoneyearanditwillbeimplementedbyNABARDandRBI.
![Page 86: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/86.jpg)
Thesalientfeaturesoftheschemeareasfollows:
TheCentralGovernmentwillprovideinterestsubventionof5percentperannumtoallpromptpayeefarmersforshorttermcroploanupto oneyearforloanupto Rs.3lakhs
borrowedbythemduringtheyear2017-18.
Farmerswillthushavetoeffectivelypayonly4%asinterest.Incasefarmersdonotrepaytheshorttermcroploanintimetheywouldbeeligibleforinterestsubventionof2%as
against5%availableabove.
TheCentralGovernmentwillprovideapproximatelyRs.20,339croreasinterestsubventionfor2017-18.
Inordertogiverelieftosmallandmarginalfarmerswhowouldhavetoborrowat9%forthepostharveststorageoftheirproduce,theCentralGovernmenthasapprovedaninterestsubventionof2%i.e.aneffectiveinterestrateof7%forloansupto 6months.
![Page 87: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/87.jpg)
Karur Vysya BankinauguratesAADHAARenrolmentcentreinChennai
TheUniqueIdentificationAuthorityofIndiahadadvisedcommercialbankstoprovideAadhaarenrolmentandupdation facilityatvariousbranchesinitsJuly13notification.
Karur Vysya Bankidentifiedthebranchesandand ensuredearlyimplementationoftheservice.KVBisthefirstprivatesectorbanktoprovidethisserviceinthecountry,the
banksaidinarelease.
UniqueIdentificationAuthorityofIndia,AssistantDirectorGeneral,DMGajareinauguratedthefirstEnrolmentCentreattheNelsonManickam Roadbranchata
functionhere.
Karur Vysya Bank planned to expand the service to 75 more branches across the country.
![Page 88: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/88.jpg)
AxisBanktowaive12EMIsonhomeloansunderShubh Aarambh scheme.
Inabidtofortifyitsfootprintintheaffordablehousingsegment,AxisBank— India’sthirdlargestprivatesectorannouncedthelaunchofanewhomeloanproduct– calledShubh
Aarambh Home.
Underthisscheme,borrowersapplyingforloansuptoRs30lakhwillbeabletoavailthe benefitof12EMIs’waiver.
Customerswithregularrepaymentwillget12EMIswaived– 4EMIseachafter4th,8thand12thyearfromthedateoffirstdisbursement.TheeffectofEMIwaiverwillbegivenin
theformofreductioninthetenureofhomeloans.
Theloanscanbeusedtopurchaseanunderconstruction/ready/resalehouse,apartfromself-constructionandplotplusconstruction.Customersalsohavetheoptiontotransfer
anyexistinghomeloanstoAxisBankwithoutanyadditionalcost.
![Page 89: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/89.jpg)
NABARDApprovesRs1,350-crLoantoRajasthanGovernment
TheNational Bank ofAgricultureandRuralDevelopment(NABARD)hassanctionedaloanassistanceofRs1,349.55croretothe Rajasthan government forcreationofruralinfrastructureinthestateundertheRuralInfrastructureDevelopmentFund
(RIDF).
Thesanctionincludesassistanceforconstructionoftworuraldrinkingwatersupplyprojects,strengthening/rehabilitationof1,614ruralroadsandmodernisation ofthreemajorirrigation
projects.
![Page 90: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/90.jpg)
AnamountofRs599.84crorehasbeensanctionedforrehabilitationof1,614roads,coveringall33districtsofRajasthan.
Rs469.54croreforprovidingpotablewatertopopulationof419villagesofJalore district.
Rs280.17croreforrehabilitationandmodernisation of3majorirrigationprojectslocatedinUdaipur,Banswara andDungarpur
districts.
![Page 91: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/91.jpg)
TworegionalruralbanksrecordoverRs.150-crprofitinFY17
Ofthe56regionalruralbanks(RRBs)inthecountry,twonotchedupnetprofitofover₹150croreeachduring2016-17.Theseareamongthe49RRBsthatrecordedaprofitin2016-17.SevenRRBssufferedlossesduringtheperiod.
KarnatakaVikas Grameena BankandAndhraPragathi Grameena Bankrecordednetprofitofmorethan₹150croreduring2016-17.
AccordingtotheReserveBankofIndia’s‘ReportonTrendandProgressofBankinginIndia’,45ofthe56RRBsearnedprofitswithoutcarryingany
accumulatedlossesduring2015-16
![Page 92: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/92.jpg)
ThethreeRRBspromotedbySyndicateBank— PrathamaBank,KarnatakaVikas Grameena Bank,andAndhraPragathiGrameena Bank— improvedtheirnetprofitover2015-16andemergedinthetopleagueofprofit-makingRRBsduring2016-
17.
TheseRRBscovered18districtsinthreeStateswithanetworkof1,563branches.
Attheend-March2017,RRBshad21,398branchesspreadacross676districtsand28States.
![Page 93: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/93.jpg)
Dhanlaxmi Bank,DHFLPramerica tieupforbancassurance.
DHFLPramerica LifeInsuranceCompanyhassignedonKerala-basedDhanlaxmi Bankasitsbancassurancepartner,underwhichthelatterwill
distributeretailandgrouplifeinsuranceproductstoitscustomersacross260branchesinIndia.
Thebankanticipatesanannualincrementalincomeof₹20-30crorefromthisdistributionbusiness.Thisissignificantincomesincethebankhasjustcome
intoblack,postinganetprofitof₹7.99croreinthelatestquarter.
Withthistie-up,thecompanyisinastrongpositiontoconsolidateitspresenceinKerala,TamilNadu,AndhraPradeshandKarnataka.
![Page 94: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/94.jpg)
IBPS PO / RBI Grade B/ SSC/ UPSC
Call 95-8004-8004729-10-594-76
Copyright@Study-IQeducation,Allrightsreserved
![Page 95: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/95.jpg)
HDFCBanklaunchesall-in-oneDigiPoS machines
HDFCBank,thelargestmerchantpaymentacquirerwithover40percentmarketshare,launchedanall-in-oneoffering,DigiPoS Machine,thatoffersa
completesuiteofdigitalpaymentsolutions.
WithDigiPoS,amerchantcanuseasmanyas12variousdigitalpaymentoptionslike UPI,BharatQR,SMSPay,PayZapp,Tap&Pay,EMIsinadditionto
paythroughdebit/creditcardswiping.
Amerchanthastodoistoupdatehis/hermachinewithasoftwareatnocost,butaddedthatthenewsoftwarewillworkonlyonHDFCBank-issuedPoSmachines,butwillacceptanycardorappfromanybank/serviceprovider.
![Page 96: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/96.jpg)
DigiPoS integratesallpopulardigitalpaymentmethodsinmerchantpaymentmachinesofferinggreaterconveniencetobothcustomersandmerchants.
Forexample,usingtheBharatQRorUPIoption,acustomercanscantheQRcodeandmakepaymentusingtheirsmartphones,ading similarly,SMSPayoptionontheDigiPOS canbeinitiatedbymerchantsinthehomedelivery
businesstofacilitatepaymentsthroughSMStocustomers.
Overthenextcoupleofmonths,theywillconverttheirentirenetworkofover4.5lakhPoS machinestoDigiPOS withoutanyinvestmentbythemerchants.Rao
saidthebankenjoysaround40percentmarketshareinthe1.3millionPoSmachinessegmentwith4.5lakhmachineswith3lakhmerchants.
![Page 97: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/97.jpg)
Bankstopay3%IGSTongoldimports
Banksimportinggoldandpreciousmetalswillhavetopay3%taxundertheGSTwhichcanbeclaimedasinputtaxcredit,thegovernmenthassaid.
ClarifyingissuesonGSTongemsandjewellery throughFrequentlyAskedQuestions(FAQs),theCentralBoardofExciseandCustomssaidbanksdidnotpayanyVATon
importofpreciousmetalspreviously.
Theyonlypaidcustomsduty.However,underGST,“3%Integrated-GSTispayableonallimportsofpreciousmetalsinadditiontothebasiccustomsduty.IGSTpaidcanbe
takenasinputtaxcreditbythebanks.”
ItalsosaidbankswouldbeliabletopayIGSTonsuchimportsandnotanyoverseassupplierinwhichownershipisvestedduringmovementofgoldorsilver.
![Page 98: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/98.jpg)
Ownershipisnotmaterialfordeterminingwhetheranimporthastakenplace.Banks,beingregisteredentities,wouldbeliabletopayIGSTonsuchimportsbutnottheoverseasentities
sincetheyarenoteffectingtheimport,”theFAQsaid.
Importofgoldattractsa10%basiccustomsduty.Ontopofthata12.5%countervailingduty(CVD)wasleviedpriortoGST.
SinceGSTsubsumedCVD,hencetheGSTrateongoldat3%hastobepaidatthetimeofimportsintheformofIGSTwitheffectfrom1July.
TheCBECalsoclarifiedonlevyofGSTwherethetotalvalueofagoldornamentisRs30,000,includingRs2,000asmakingchargesaying,“GSTispayableattherateof3%ofthetotaltransactionvalueofjewellery,whetherthemakingchargeisshownseparatelyornot”.
ChairmanCBEC:Vanaja N.Sarna
![Page 99: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/99.jpg)
Govt.notifieschangesinBankingRegulationAct
ThegovernmenthasnotifiedtheBankingRegulation(Amendment)Actunderwhichitcanauthorise theRBItoissuedirectionstobankstoinitiateinsolvencyresolutionprocessto
recoverbadloans.
Thebankingsectorissaddledwithnon-performingassets(NPAs)ofoverRs8lakhcrore,ofwhichRs6lakhcroreiswithpublicsectorbanks(PSBs).
ThegovernmentinMayhadpromulgatedanordinanceauthorising theReserveBankofIndia(RBI)toissuedirectionstobankstoinitiateinsolvencyresolutionprocessundertheInsolvency
andBankruptcyCode,2016.
Followingtheordinance,theRBIhadidentified12accountseachhavingmorethan Rs. 5,000croreofoutstandingloansandaccountingfor25percentoftotalNPAsofbanksforimmediate
referralforresolutionunderthebankruptcylaw.
![Page 100: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/100.jpg)
TheloandefaultersidentifiedbytheRBIinclude,Essar Steel,BhushanSteel,ABGShipyard,Electrosteel andAlok Industries.
UndertheBankingRegulation(Amendment)Act,2017,theRBIcanissuedirectionstobanksforresolutionofstressedassets.
TheRBIcanspecifyauthoritiesorcommitteestoadvisebanksonresolutionofstressedassets.ThemembersonthecommitteeswillbeappointedorapprovedbytheRBI.
ThebulkoftheNPAsareinsectorssuchaspower,steel,roadinfrastructureandtextiles
![Page 101: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/101.jpg)
IRDAIlaunchescentraldatabaseofinsurancesalespersons.
TheInsuranace RegulatoryandDevelopmentAuthorityofIndia(IRDAI)haslaunchedaCentralDatabaseofallInsuranceSalesPersonsinthecountry.
Christined as`Envoy’,thedatabasewillesnure thatalllicensedinsurancesalespersonsworkingforinsurersandintermediariesincludingentitiessuch
asinsuranceagents,brokerqualifiedpersons,specifiedpersonsofcorporateagents,authorised verifiersofwebaggregators,pointofsales
persons(POS)etcdonotworkwithmultipleinsurersandintermediariesinthesamebusinesscategory
![Page 102: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/102.jpg)
Atthepresentstage,EnvoycoversPOS,specifiedpersonsofcorporateagents,qualifiedpersonsofinsurancebrokersandauthorised verifiersofwebaggregators.
AccordingtoIRDAI,thenextphase,tobetakenupshortly,willcoverallremainingcategoriessuchasindividualagentsandinsurancemarketingfirms.
Thedatabasealsoprovidesasearchfacilityforinsurersandinsuranceintermediarieswherebyanapplicantinsurancesalesperson'sdetailsarequeriedforamatchinthe
database.
AppointmentofsuchapersonbytheinsurerorinsuranceintermediaryshallbetakenuponlyafterensuringthattheApplicantdoesnotalreadyfigureinthe
database.
IRDAIChairman:T.S.Vijayan
![Page 103: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/103.jpg)
Canara HSBCOrientalLifeInsuranceCompany(CHOICE)launches‘PoS-EasyBima Plan
Canara HSBCOrientalBankofCommerceLifeInsuranceCompany(CHOICE)hascomeupwitha‘Point-of-Sale’producttargetedatthemass-marketsegment.
Theproduct— ‘PoS - EasyBima Plan’— isthefirstPoS productforthecompanyandisapureterminsuranceplanthatnotonlygiveslifecoverbutalsoreturnsallpremiumspaid
duringthepaymenttermonsurvivaltillmaturity
Wehaveworkedatmakingthebuyingprocessverysimpleasthisjustrequiresaone-stepidentificationofthecustomerandfillingupofasimpleproposalform.
![Page 104: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/104.jpg)
Theaffordablepremiumsstartfrom₹1,000annuallyandthereisinbuiltdoublelifecoverincaseofaccidentaldeath.
WhilethisproducthasinitiallybeenlaunchedthrougharegionalruralbankofCanara Bank,itwouldbeavailableinthebankbranchesofCanara Bank
andOrientalBankofCommerce(OBC)inthenexttwomonths
![Page 105: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/105.jpg)
Ujjivan SFBreceivesscheduledbankstatusfromRBI.
Ujjivan SmallFinanceBankLtdisawholly-ownedsubsidiaryofUjjivan FinancialServicesLtd,hasbeenincludedinthesecondscheduledtotheRBIAct1934.
"Thisgrantsthe'ScheduledBank'statustoUjjivan SmallFinanceBank'fromthedateofnotification.
WiththisUjjivan SmallFinanceBankcanissuecertificateofdeposits.
Ujjivan SFBcommenceditsoperationsasaSmallFinanceBankwitheffectfromFebruary1,2017.
MD&CEOUjjivan SFB:Samit Ghosh
![Page 106: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/106.jpg)
Freyr EnergytiesupwithAxisBank
SolarenergyservicescompanyFreyr EnergyhastiedupwithAxisBanktooffertermloansrangingfrom₹5lakhto₹50lakhfortenuresuptofiveyears,for solarrooftopinstallationsin
Telangana andAndhraPradesh.
TheloanswillbegiventoMSMEsandself-employedindividualstoinstallFreyr rooftopsolarplantsforindustrialandcommercialpurposes.
TheFreyr SunPro appissaidtoeliminatethecomplexityinvolvedinsystemdesign,pricingandgeneration.
Overthepastthreeyears,Freyr hasinstalledover800solarsystemsacross14StatesinIndiaandGhana.
Cofounder&MD:Saurabh MardaCofounder: Radhika Choudary,
![Page 107: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/107.jpg)
SEBIbansOrionCapital,OrionBrokingfrommarketsfor10yrs
MarketsregulatorSebitodaybarredOrionCapitalaswellasOrionBrokingandtheirpartnersfromthesecuritiesmarketsfor10years.
Itfailedtoredressseveralinvestorgrievancespertainingtonon- settlementoffundsduetotheclients.
Thenatureofinvestorcomplaintsreceivedagainstboththefirmsarepredominantlyonnon-settlementofthefundsandsecuritiesandbalancesduetotheirclients.
TheclaimamountismorethanRs6croreagainstOrionCapitalandoverRs4croreagainstOrionBroking.
![Page 108: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/108.jpg)
Besides,thetwoentitiesclosedtheirbusinesswithoutanypriorintimationtotheiraffiliatedexchangesortotheir
clients
Byindulginginsuchactivities,thetwofirmsandtheirpartnershavefailedtoactinaccordancewiththerequirementsofthestockbrokersregulations
![Page 109: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/109.jpg)
BankOfIndiaslashesinterest
PubliclenderBankofIndiahasreducedinterestrateonsavingsbankaccountsby50basispointsto3.5percentondepositsofuptoRs50lakh.
However,thebankwillcontinuetopay4percentinterestondepositsofaboveRs50lakh
Thisistwotiersavingbankrate.
![Page 110: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/110.jpg)
OnJuly31,SBIslashedinterestrateonsavingsaccountdepositsby50basispointsto3.5percentonbalanceofRs1croreandbelow.
Otherlenders,includingprivateonessuchasHDFCBankandAxisbank,havefollowedsuit.
Earlierthismonth,AxisBankhadreducedinterestrateonsavingsbankaccountsby50basispointsto3.5percentfordepositsuptoRs50lakh.
AnotherPSUlender,BankofBarodahadslashedtherateto3.5percentondepositsofuptoRs50lakh.
KarnatakaBanktoohastweakedtherateonsavingsbankaccounts.
![Page 111: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/111.jpg)
CentralBankofIndia,DenaBankcutsavingsinterestrates
InafilingtotheBSE,CentralBankofIndiasaidthatitwillnowpay3.50percentinteresttocustomershavingsavingsdepositsofuptoRs50lakh.
WhilethosehavingbalanceoverRs50lakhwillcontinuetoenjoythe4percentinterestrateontheirsavings
DenaBankinastatementsaidthatithascuttheinterestrateonsavingsaccountdepositsuptoRs25lakhby0.5percentagepointto3.50percentfromexisting
4%.
FordepositsaboveRs25lakh,theinterestratewillremainunchangedat4percentperannum
![Page 112: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/112.jpg)
Shri.RajeevRishi,Chairman&ManagingDirectorofCentralBankofIndia.
CEODenaBank: Shri.AshwaniKumar
![Page 113: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/113.jpg)
ICICIBankcutinterestrateonsavingsaccountby0.5%
Inanoticetothestockexchangethebanksaidithadcutthe interestrate ondepositsbelowRs.50lakhto3.5%.
TheinterestrateonsavingsbankaccountswithdepositsofRs50lakhandaboveremainsunchangedat4percent.
HDFCBankLtdalsocutinterestratesonmostofitssavingsaccountsto3.5percentfrom4percent
CustomerswithsavingsbankaccountbalanceofRs5million($77,924.10)andabovewillcontinuetoearninterestat4percentperannum.
![Page 114: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/114.jpg)
YesBankcutssavingsaccountinterestratebyupto1%.
PrivatesectorlenderYesBankreducedtheinterestrateonsavingsbankaccountsby1percentto5percentfordepositsoflessthanRs1lakh.
However,thebankwillcontinuetopay6percentinterestondepositsofoverRs1lakhandlessthanRs1crore.
Thebankhasalsoslashedinterestrateonsavingsaccountsto6.25percentfromexisting6.5percentfordepositsoverRs1crore.
YesBankisthefifthlendertoreducesavingaccountinterestrateaftermarketleaderStateBankofIndiabeguntheprocessofreducingtheinterestrate
![Page 115: banking awareness part 3 - StudyIQ · PDF fileBANKING Awareness JulyAugust September ... , Axis Bank Ltd. and Punjab National Bank. ... The score is derived using the credit history](https://reader034.vdocuments.us/reader034/viewer/2022051601/5abcac827f8b9ab1118e798d/html5/thumbnails/115.jpg)
IBPS PO / RBI Grade B
Call 95-8004-8004729-10-594-76
Copyright@Study-IQeducation,Allrightsreserved