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Important Banking NEWS (1st Jun to 15th Oct 2017) – IBPS RRB PO/Clerk 2017
Important Banking NEWS (1st Jun to 15th Oct 2017)
Reserve Bank of India

HQ – Mumbai; Governor – Urjit Patel (24th governor)
4 Deputy Governors - BP Kanungo, S SMundra, N S Vishwanathan and Viral Acharya
New 500 rupee banknotes have been launched by RBI with inset letter „A‟
 In continuation of issuing of Rs500 denomination banknotes in Mahatma Gandhi (new) series from time to
time which are currently legal tender, a new batch of banknotes with inset letter ―A‖ in both the number panels,
bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India; with the year of printing '2017‘ on
the reverse, are being issued.The new series earlier released and currently, in circulation has the inset letter "E".
Useful Info
The 500 rupee banknote of the Mahatma Gandhi New Series is 63mm x 150mmstone grey coloured, with the
obverse side featuring a portrait of Mahatma Gandhi as well as the Ashoka Pillar Emblem, with a signature of the
governor of Reserve Bank of India. It has the Braille feature to assist the visually challenged in identifying the
currency. The reverse side features a motif of the Indian heritage site of Red Fort, and the logo and a tag line of
Swachh Bharat Abhiyan.
Government asks banks, post offices to deposit scrapped Rs. 500, Rs. 1,000 notes to RBI by 20th July
 Government has asked banks to deposit demonetised notes at RBI by the 20th of next month.The government
has permitted banks and post offices to deposit junked Rs. 500 and 1,000 notes with the Reserve Bank by the
deadline.The earlier window was open till December 31, a day after the 50-day period of demonetisation of
high value currency.
Useful Info
India‘s history with demonetization
1stDemonetisation – 1946 (ban of 1000 Rs& 10000 Rs)
2ndDemonetisation – 1978 (ban of 1000, 5000 & 10000 Rs)
3rdDemonetisation – 2016 (ban of 500 & 1000 Rs)
The Reserve Bank of India reconstituted the Oversight Committee by appointing three more members
 The Reserve Bank of India reconstituted the Oversight Committee by appointing three more members.
According to the RBI former chief vigilance commissioner, Pradeep Kumar will head the now reconstituted 5-
member panel. Besides Kumar, the other members of the committee are former SBI Chairman JankiBallabh,
former Canara Bank Chairman and MD MBN Rao, former Chairman of L&T Finance YM Deosthalee and S
Raman, member SEBI. Raman would be inducted into the panel from September 7, 2017 after he completes the
term at SEBI. The expansion follows promulgation of the Banking Regulation (Amendment) Ordinance, 2017
last month.
RBI amends Banking Ombudsman Scheme
 The central bank has extended the scope of Banking Ombudsman Scheme. The Reserve bank said that under
the amended scheme, a customer would also be able to lodge a complaint against the bank for its non-
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adherence to RBI instructions with regard to mobile banking/ electronic banking services in India. As per the
amendment, the pecuniary jurisdiction of the Banking Ombudsman to pass an award has been doubled to 20
lakh rupees.Banking Ombudsman is a quasi-judicial authority functioning under the Banking Ombudsman
Scheme, 2006.
RBI report sees India's economic growth rate at 7.3% in 2017-18
 The Reserve Bank stated the ongoing accelerated reform initiatives like Goods and Sevice Tax and continuing
political stability will push the economic growth scale to 7.3 per cent in terms of Gross Value Added -GVA in
the current fiscal year (2017-18). The Financial Stability Report 2017 released, going forward, reforms in FDI
and real estate sector, implementation of GST, and revival in external demand are likely to contribute to a
better growth outlook. According to the RBI report, GVA growth is expected to be higher at 7.3 per cent in
2017-18.
Useful Info
RBI commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the
Reserve Bank of India Act, 1934.Following India's independence on 15 August 1947, the RBI was nationalised on
1 January 1949.
RBI is considering setting up of Public Credit Registry (PCR), an extensive database of bank loans
 RBI Deputy Governor Viral Acharyasaid, that the Reserve Bank of India is considering setting up of Public
Credit Registry (PCR), an extensive database of bank loans. Acharya suggested the registry would be managed
by a public authority like the central bank, and reporting loan details should be mandatory.
RBI said Ombudsman cannot handle note ban plaints
 Customers‘ complaints about problems like cash withdrawal and exchange of old notes faced post
demonetisation cannot be entertained under the Banking Ombudsman (BO) scheme, the Reserve Bank of India
has said.
Useful Info
Banking Ombudsman Scheme
First BO office in India – RBI, New Delhi (jurisdiction over Delhi and Jammu & Kashmir)
Second BO office in India – New Delhi (jurisdiction over Haryana (except Panchkula, Yamuna Nagar and Ambala
Districts) and Ghaziabad and Gautam Buddha Nagar districts of Uttar Pradesh)
Total BO office in India currently – 20
The Reserve Bank of India has amends order on bankruptcy action on 12 large NPAs
 The Reserve Bank of India (RBI) has amended its earlier order asking banks to initiate bankruptcy proceedings
against 12 companies which have outstanding loans amounting to over Rs 5,000 crore as on March 2016. The
amendment, made through a notification, comes after the Gujarat High Court asked the RBI to remove the
stipulation on its order last month that the 12 non-performing assets (NPAs), or bad loans, would be granted
priority at the National Company Law Tribunal. Essar Steel, one of the 12 large NPAs identified by the RBI,
had approached the Gujarat High Court for the RBI proceedings.
RBI sets up Supervisory Colleges for six Scheduled Commercial Banks
 Reserve Bank of India (RBI) has set up Supervisory Colleges for six Scheduled Commercial Banks which have
sizeable international presence: - State Bank of India, ICICI Bank Ltd., Bank of India, Bank of Baroda, Axis
Bank Ltd. and Punjab National Bank. The objectives of the colleges are to enhance information exchange and
cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby
facilitate more effective supervision of internationally active banks.
Useful Info
Those 6 Banks are – SBI, ICICI, BOI, BOB, Axis Bank, PNB
1st Governor of RBI – Osborne Smith (British banker)
1st Indian Governor of RBI – C. D. Deshmukh
RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for KYC “non-compliance”

 The RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for ―non-compliance‖ with
the directions on Know Your Customer (KYC) norms. This action is based on deficiencies in regulatory
compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by
the bank with its customers.
Useful Info
Union Bank of India HQ – Mumbai
MD &CEO -RajkiranRai G
Tagline – Good people to bank with
RBI cuts policy rate by 25 basis points to 6%
 On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the
Monetary Policy Committee (MPC), headed by Urijit Patel, decided to reduce the Policy Repo Rate under the
liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.
Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing
facility (MSF) rate and the Bank Rate to 6.25 per cent.
Useful Info
Third Bi-monthly Monetary Policy Statement, 2017-18
New Rates as per the RBI Guidance
Repo Rate – 6.00%
Reverse Repo Rate – 5.75%
Marginal Standing Facility Rate – 6.25%
Bank Rate – 6.25%
Monetary Policy committee of India
Governor of the Reserve Bank of India – Chairperson, ex officio -Urjit Patel
Deputy Governor of the Bank, in charge of Monetary Policy—Member, ex officio - Viral AAcharya
One officer of the Reserve Bank of India to be nominated by the Central Board – Member, ex officio; - Michael
DebabrataPatra
ShriChetanGhate, Professor, Indian Statistical Institute (ISI) – Member;
Professor PamiDua, Director, Delhi School of Economics – Member;
Dr. Ravindra H. Dholakia, Professor, Indian Institute of Management, Ahmedabad – Member
RBI will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi (New) Series
 The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi (New)
Series signed by Governor of RBI Dr. Urjit Patel. The base colour of the note is fluorescent blue.The new Rs
50 banknote has a motif of Hampi with a chariot, depicting the country‘s cultural heritage, and the Swachh
Bharat logo with slogan on the reverse. All the banknotes in the denomination of Rs 50 issued by the
Reserve Bank in the earlier series will continue to be legal tender.
Aadhar must for subsidised farm loans: RBI
 Reserve Bank of India (RBI) has made Aadhar linkage mandatory for farmers who wish to avail short-
term crop loans in 2017-18.Under Interest Subvention Scheme, the banks are advised to make Aadhar linkage
mandatory for availing short-term crop loans in 2017-18.RBI has defined that farmers can avail of short-term
crop loans of up to Rs 3 lakh at the subsidised interest rate of 7%that could go down to 4% on prompt
repayment.
RBI issues new Rs 200, Rs 50 notes
 The Reserve Bank issued new Rs 200 and Rs 50 denomination banknotes in the Mahatma Gandhi (New)
Series, bearing signature of RBI Governor Urjit Patel. Initially, the new Rs 200 notes will be circulated by
select RBI offices, and some banks. The new Rs. 200 denomination has motif of SanchiStupa on the reverse,
depicting the country‘s cultural heritage. The base colour of the note is bright yellow. The note has other
designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.
Ujjivan Small Finance Bank Ltdhas been given scheduled bank status by RBI
 Ujjivan Small Finance Bank Ltd, a wholly-owned subsidiary of Ujjivan Financial Services Ltd, has been
given scheduled bank status by RBI.Currently,Ujjivan SFB has 65 full-fledged brick and mortar branches in
eight states and two Union Territories. Ujjivan SFB commenced its operations as a Small Finance Bank with
effect from February 1, 2017.
Useful Info
Ujjivan SFB – Ujjivan Small Finance Bank
Headquarters – Bengaluru
MD & CEO - SamitGhosh
RBI to Introduce Rs 100 Coin to Mark MG Ramachandran‟s Birth Centenary
 As per the notification of Finance Ministry, the Reserve Bank of India will introduce 100 rupees coin to
mark the birth centenary (hundredth anniversary) of AIADMK founder Late Dr. M G Ramachandran.
On the obverse, the face of the coin will bear Lion Capitol of Ashoka Pillar in the center with SatyamevJayate
inscribed below on it in Devanagari script. It will also bear the rupee symbol and denominational value of 100.
On the reverse side, the portrait of Dr. MG Ramachandran will be in the center. The standard weight of the
coin will be 35 grams.
Useful Info
Dr. MG Ramachandran – Former Chief Minister of Tamil Nadu
India‟s Forex Reserves Top $400 billion for the First Time
 According to the RBI Data, India‟s foreign-exchange reserves rose past $400 billion for the first time ever,
strengthening policy makers‘ buffers ahead of an expected reduction in US stimulus. The stockpile stood at
$400.7 billion. With the Federal Reserve set to shrink its balance sheet—details of which could be announced
recently, the holdings may help the rupee withstand any volatility even if global funds turn away from India‘s
slowing economy.
RBI announced that Masala bonds will be treated as External Commercial Borrowings (ECB)
 The Reserve Bank of India (RBI) announced that Masala bonds will be treated as External Commercial
Borrowings (ECB) from 3rd October 2017 thereby freeing up more investments by FPIs. Masala bonds are
rupee-denominated overseas bonds. Currently, the limit for investment by Foreign Portfolio Investors (FPIs)
in corporate bonds is Rs 2,44,323crore. This includes masala bonds of Rs.44,001crore.
Almost 99% of demonetised notes back in system: RBI report
 The Reserve Bank of India today in its annual report confirmed that almost 99 per cent of banned Rs 500 and
Rs 1000 notes that were demonetised last November have returned to the system. In the report for 2016-17, the
RBI said that out of 632.6 crore pieces of Rs 1,000 currency notes in circulation, 8.9 crore have not been
returned post the note ban last November.
RBI included HDFC Bank in the list of 'too big to fail' lenders
 RBI included HDFC Bank in the list of 'too big to fail' lenders, referred to as D-SIB or domestic
systemically important bank. India's largest lender SBI and private sector major ICICI Bank were classified
as D-SIBs in 2015. With the inclusion of HDFC Bank in the list, there will now be three 'too big to fail'
financial entities in the country.
Useful Info
HDFC Bank Headquarters – Mumbai
CEO – AdityaPuri
Tagline – We Understand your World
Reserve Bank of India Opens Branch in Dehradun
 The Reserve Bank of India opened a branch in the Dehradun city to make transactions of the Uttarakhand
State government more convenient. Uttarakhand Chief Minister Trivendra Singh Rawat inaugurated the

RBI's Branch. Earlier, the state government had to do financial transactions through the Kanpur branch of the
RBI.
RBI to soon Launch Financial Literacy Drive in 9 States
 The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the
pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. The
pilot project, according to RBI will be commissioned in the 9 states of Maharashtra, Chhattisgarh, Bihar,
Odisha, Karnataka, Telangana, Andhra Pradesh, Haryana and Uttar Pradesh by the 6 NGOs in collaboration
with the sponsor Banks. The aim of this drive is to inculcate the habit of making a household budget and
recording financial transactions, encourage transactions in savings accounts, and active saving by depositing
in banks through fixed deposits and recurring deposits.
Fourth Bi-monthly Monetary Policy Statement Released by RBI
 On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the
Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment
facility (LAF) unchanged at 6.0 per cent. Consequently, the Reverse Repo Rate (RRR) under the LAF
remains at 5.75 per cent, and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.25 per
cent. The projection of real Gross Value Added (GVA) growth for 2017-18 has been revised down to 6.7 per
cent from the August 2017 projection of 7.3 per cent, with risks evenly balanced.
State Bank of India

SBI HQ – Mumbai; Chairman - Rajnish Kumar; SBI slogan - The Banker to Every Indian
400 crore rupees for Rooftop solar projects announced by SBI

 State Bank of India (SBI) announced financingof rooftop solar projectsworth 400 crore rupees. ―SBIavailed a
loan of $625million from the World Bankfor on-lending to viableGrid-Connected RooftopSolar PV projects
undertakenby photovoltaic developers/aggregators and end-usersfor installation of rooftopsolar systems on
rooftops ofcommercial, institutional andindustrial buildings.
SBI cuts rate on home loan above Rs. 75 lakh by 10 bps to 8.6%:
 The State Bank of India has reduced rates for home loans aboveRs.75 lakh by 10 bps.The revised interest rates
will be 8.55% per annum for salaried women and 8.60% per annum for others.The revised interest rates on
home loans by the SBI will come into effect from June 15 this year.
Tirumala Milk Products & State Bank of India has entered into a tie up for providing loans to dairy
farmers
 State Bank of India has entered into a tie-up with Tirumala Milk Products, a South- based company which was
acquired by GroupeLactalis in 2014, to provide loans to dairy farmers who supply milk to the latter.
Useful Info
GroupeLactalis HQ – Laval, France
Founder - André Besnier
SBI HQ – Mumbai
Bank Board Bureau interviews four SBI MDs for chairman‟s post
 The Banks Board Bureau,headed by former CAG VinodRai, interviewedfour candidates for the SBIchairman‘s
post, which willfall vacant aftertheretirement of ArundhatiBhattacharya in October.Four SBI managing
directorswere interviewed by threesub-committees, sourcessaid. B. Sriram, the seniormostMD, along with
RajnishKumar, P. K. Gupta andDinesh Kumar Kharafacedthe panel, sources said.
Nepal SBI launches first paperless Banking services sbi INTOUCH
 Nepal SBI Bank, a subsidiary of the State Bank of India, launched its fully automatic digital banking services
in the Nepalese capital Kathmandu. This is for the first time the State Bank of India has expanded the paperless
banking system outside India. Digital banking provides various services including cash deposit, the opening of
new accounts, distribution of debit card, ATM and online banking information on the touch of the screen.
Customers can avail the services from SBI Intouch Bank. The digital banking unit also has a robot, which
provides important information to customers in an interactive manner.
Useful Info
Country – Nepal
Capital – Kathmandu
Currency - Nepalese rupee
President - Bidhya Devi Bhandari
Prime Minister - SherBahadurDeuba
SBI waives charge on IMPS fund transfer of up to Rs 1,000
 Country's largest bank SBI has waived charges for fund transfer of up to Rs 1,000 through its IMPS
(Immediate Payment Service) to promote small transactions. State Bank of India had been charging Rs 5 along
with the applicable service tax for IMPS fund transfer of up to Rs 1,000. IMPS is an instant interbank
electronic fund transfer service through mobile phones as well as internet banking. For IMPS, the charge will
be Rs 5 along GST for fund transfer in the range of Rs 1,000 to Rs 1 lakh. The charge will go up to Rs 15 for
transactions of Rs 1-2 lakh. GST at the rate of 18 per cent is applicable on all financial transactions.
State Bank of India launches website for home buyers
 State Bank of India, the country‘s largest commercial bank, has launched 'SBI Realty' - a one-stop integrated
website www.sbirealty.in for home buyers. SBI Realty will help customers to choose their dream home from
3,000 SBI approved projects across the country. These projects are spread across 13 states and Union
Territories covering 30 cities, including metros, semi metro and towns. The site is developed by SBICAP
Securities in association with PropEquity in terms of data support, project information.
SBI and Carlyle Group will acquire GE Capital's entire stake in SBI Card
 State Bank of India (SBI), the Carlyle Group and GE have announced that they have signed definitive
agreements, whereby SBI and Carlyle Group will acquire GE Capital's entire stake in SBI Card, the second-
largest credit card franchise in India. SBI Card is operated through two joint venture companies, SBI Cards &
Payment Services and GE Capital Business Process Management Services, which issue credit cards and
process card transactions in the Indian market. Following the transactions, SBI and Carlyle will own 74 percent
and 26 percent respectively in each of the two entities.
Useful Info
Carlyle Group HQ – Washington, United States
GE Capital – Norwalk, Connecticut, United States
SBI cuts saving account rate by 0.5% on balance up to Rs 1 crore
 State Bank of India has cut interest on savings account deposits by 50 basis points to 3.5 per cent on balance up
to Rs 1 crore. The bank decides to continue 4 per cent interest on savings account balance of Rs 1 crore and
above. Revision of saving bank rate will enable the bank to maintain marginal cost of fund based lending rate
(MCLR) at existing rates.
SBI, Samsung collaborate to advance Digital India initiative
 The State Bank of India (SBI) and Samsung India has announced the availability of Samsung Pay for higher
variants of SBI debit card to advance Digital India initiativeSamsung Pay is currently available on Samsung
smartphones. It enables consumers to make offline payments without the need for a physical Card. Samsung
Pay works on 2.5 million Point of Sale (PoS) Card machines across the country through its Magnetic Secure
Transmission (MST) technology. The Bank aimed to be the Banker to Digital India and has been at the fore-
front of all digital initiatives in the banking space.Samsung Pay consumers holding eligible SBI Debit Cards
can avail a flat Rs. 100 cashback on minimum transaction amount of Rs. 500.
Useful Info
Samsung HQ – Seoul, South Korea
SBI to raise 2000 crore via BASEL- III bonds

 State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors.
The committee of directors for capital raising accorded its approval on 3rd of August 2017. It will allot 20,000
AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures. The bonds
will carry a coupon rate of 8.15% per annum with a call option after 5 years or the anniversary date thereafter.
Country‟s largest lender, SBI Tops Share of Wilful Default to PSBs
 The country‘s largest lender, SBI, accounts for over 27 per cent of the total amount owed to public sector
banks by wilful defaulters. As many as 1,762 wilful defaulters owed SBI Rs25,104 crore.Punjab National
Bank (PNB) is next on the list with 1,120 wilful defaulters having outstanding non-performing assets (NPAs)
of Rs12,278 crore. Together these two banks account for Rs37,382crore or 40 per cent of the total outstanding
loans.
SBI's Arundhati Bhattacharya invited to join Infosys board
 State Bank of India Chairperson Arundhati Bhattacharya has reportedly been offered a position on the Infosys
board and the offer was first made almost 10 days ago before Vishal Sikka resigned as the CEO. Further,
Bhattacharya was also offered a seat on the board of another IT company but that invitation came two days
after Infosys' offer.
SBI Life Insurance Gets SEBI approval for Rs 8,400 crore IPO
 SBI Life Insurance has received approval from the Securities and Exchange Board of India for an IPO
(Initial Public Offering) of up to Rs 8,400 crore ($1.3 billion). The IPO will involve 120 million secondary
shares or 12 per cent of the insurer's equity capital. State Bank of India which currently owns 70.1 per cent of
the insurer, will sell 80 million shares and BNP Paribas Cardif, holder of a 26 per cent stake, will sell 40
million.
Useful Info
SEBI – Securities and Exchange Board of India
Headquarters of SEBI – Mumbai
Chairman of SEBI – Ajay Tyagi
MD & CEO of SBI Life Insurance Co. Ltd - ArijitBasu
SBI Card to offer pre-approved cards to SBI customers
 SBI card is all set to offer pre-approved cards to customers of its parent State Bank of India. It has
entered into a tripartite agreement with SBI and India‘s first credit bureau TransUnion CIBIL to offer pre-
approved cards to eligible customers.
The agreement will allow the credit bureau to check the credentials of SBI customers and SBI Card to
leverage the data.
SBI launches Indian bond index series in London
 State Bank of India (SBI) has launched the FTSE SBI Bond Index series in partnership with global index
provider FTSE 100, which will give tools to investors from India, the UK and globally to analyseIndia‟s
government bond market, and drive growth in this market. This index, launched in collaboration with the
London Stock Exchange, will ensure that international investors have an international benchmark that is
transparent, that is well governed and that is something they can easily rely on.
State Bank of India (SBI) is India‟s most trusted and most popular bank
 State Bank of India (SBI) is India‟s most trusted and most popular bank according to a survey conducted
by Brand Finance, a business valuation and strategic consultancy headquartered in London. On the trust charts,
SBI is followed by HDFC Bank and Central Bank of India whereas on the popularity charts, ICICI Bank and
HDFC Bank take the second and third spots respectively.
SBI Launches Chatbot to Help Customers in Banking Activities
 Artificial intelligence banking platform Payjo has launched an AI-powered chat assistant for State Bank of
India to addresses customer enquiries. The chat assistant, known as SBI Intelligent Assistant, or SIA, will
help customers with everyday banking tasks just like a bank representative.
SBI to Set Up Country's Largest Innovation Centre at Mumbai

 The nation's largest lender State Bank of India is creating a 15,000-sqft innovation center in Navi
Mumbai investing around Rs 100 crore. The center, to be built at its Global IT Centre in Belapur in Navi
Mumbai, will be the largest innovation center by any financial services company in the country. The
innovation center is part of a Rs 200-crore allocation that the bank has earmarked for innovation 2016.
SBI Launched SME Assist for MSME Clients
 The State Bank of India has launched a new product to provide a short-term working capital demand
loan to its MSME clients. The new initiative, called SME Assist, would offer loans to MSME customers
on the basis of their input credit claims under Goods and Services Tax (GST). The loan processing fee
under the scheme is Rs 2,000. The companies applying for a loan under the product have to provide a
certificate from their chartered accountant confirming the input credit claims. Under the scheme, the SME
borrowers would have a moratorium period for the first three months.
NABARD
NABARD – National Bank for Agriculture and Rural Development
Headquarters – Mumbai; Chairman - Harsh Kumar Bhanwala
LokSabha Passes Bill to Raise NABARD‟s Capital to Rs30,000crore

 A bill to enable exit of Reserve Bank of India (RBI) from Nabard and increase authorized capital of the
development institution six times to Rs 30,000 crore was passed by the LokSabha.
All you Know About the Bill
 Increase in capital of NABARD: At present the authorized capital of Nabard is Rs 5,000 crore and there is a
proposal to increase it to Rs 30,000 crore.
 Transfer of the RBI‘s share to the Union Government: At present in Nabard, the Centre has a share of 99.6%
and the RBI has the remaining share.
 The Bill replaces the terms ‗small-scale industry‘ and ‗industry in the tiny and decentralized sector‘ with the
terms ‗micro enterprise‘, ‗small enterprise‘ and ‗medium enterprise‘ as defined in the MSME Development
Act, 2006.
 The Bill substitutes references to provisions of the Companies Act, 1956 under the NABARD Act, 1981, with
references to the Companies Act, 2013.
NABARD Buys Additional 7% stake in SIDBI from IDBI Bank
 The National Bank for Agriculture and Rural Development (NABARD) has bought an additional 7% stake
in Small Industries Development Bank of India (SIDBI) for Rs 900 crore from public sector lender IDBI Bank
Ltd. This is the largest investment made by the apex rural financial institution so far, and raises its total
shareholding in Sidbi to 10%. According to data shared by Sidbi, existing shareholders bought most of these
shares - 6.99% by Nabard, 2.04% by Life Insurance Corp. of India (LIC), 0.5% by Vijaya Bank and 0.5% by
Canara Bank. With this, LIC holds 14.25% in SIDBI, Vijaya Bank 0.8% and Canara Bank 3.64%.
Useful Info
SIDBI Headquarters – Lucknow
CMD of SIDBI – Shri Mohammad Mustafa
IDBI Bank Headquarters – Mumbai
Managing Director & CEO of IDBI Bank - Mahesh Kumar Jain
Asian Development Bank

Headquarters - Manila, Philippines; President - TakehikoNakao
ADB Lowers India Growth Forecast for this Fiscal

 Asian Development Bank (ADB) has downgraded India‘s growth projection to 7 percent for the current
fiscal while lowering its forecast for the next financial year as well. India‘s GDP growth is downgraded to 7
percent in the financial year 2017-18, a 0.4 percentage point drop from the April forecast. In the financial year
2018-19, the forecast is adjusted down to 7.4 percent, from 7.6 percent, according to the Asian Development
Outlook 2017 update.
ADB to Increase Annual Lending to India to $4 billion
 The Asian Development Bank will increase its annual lending to India to a maximum of $4 billion between
2018 and 2022 to help fasten inclusive economic transformation towards upper middle-income status. The
proposal was endorsed at new ADB Country Partnership Strategy for 2018- 2022. The new lending
programme, which includes private sector operations, is much higher than the average $2.65 billion a year in
loans extended during 2012 and 2016.
$80-Million ADB loan to Himachal Pradesh
 Multilateral lending agency Asian Development Bank (ADB) has approved a loan of $80 million (about Rs
524 crore) for the modernization of Himachal Pradesh‘s technical and vocational education and training
(TVET) institutions. The total cost of the project is $100 million, with the Centre contributing $20 million. The
project is expected to be completed by the end of 2022.
Asian Development Bank (ADB) to Provide $152 Million Fund to Nepal
 The Asian Development Bank (ADB) will provide a USD 152 million to Nepal for the implementation and
enhancement of its power transmission and distribution. ADB and Nepal‘s Ministry of Finance signed the loan
agreement in Kathmandu. The aid will be granted to the Power Transmission and Distribution Efficiency
Enhancement Project (PTDEEP) which supports the expansion of the transmission lines in various areas of
Nepal.
West Bengal Gets $300 Million Asian Development Bank (ADB) Loan
 Multilateral funding agency ADB has sanctioned a USD 300 million loan facility for carrying forward fiscal
reforms in West Bengal. The board of Asian Development Bank (ADB) approved a loan of USD 300 million to
continue a comprehensive series of fiscal reforms in West Bengal. West Bengal, for the first time in 2012 had
received a USD 400 million from ADB, its first policy based lending with an aim to create a fiscal space
necessary to sustain higher public investment in the eastern India.
Axis Bank
Axis Bank HQ – Mumbai; MD and CEO of Axis Bank - Shikha Sharma;
Tagline of Axis Bank – BadhtiKanaamZindagi
GMR Goa International Airports Ltd gets Rs. 1,330 cr loan from Axis Bank for developing Mopa airport
 GMR Goa International Airports Ltd, a subsidiary of GMR Airports Ltd, has executed a debt facility agreement
for the development of Greenfield airport at Mopa. The foundation stone for the project was subsequently laid
by the Prime Minister, NarendraModi, on November 13, 2016. The entire debt of Rs. 1,330 crore was
underwritten by Axis Bank on a long tenor door to door basis of 18 years on competitive terms.
Useful Info
Chairman of GMR Airports - SrinivasBommidala
Axis Bank has entered into collaboration with Inter-American Investment Corporation (IIC) to facilitate
trade with Latin America and the Caribbean.
 Axis Bank has entered into collaboration with Inter-American Investment Corporation (IIC) to facilitate trade
with Latin America and the Caribbean. Axis Bank becomes the first Indian bank to participate in the Trade
Finance Facilitation Programme as a confirming bank. IIC, a member of the Inter-American Development
Bank Group, is a multilateral development bank committed to supporting the private sector in Latin America
and the Caribbean.
Useful Info
IIC – Inter-American Investment Corporation
HQ – Washington D.C
President - Luis Alberto Moreno
Axis Bank to waive 12 EMIs on home loans under ShubhAarambh scheme
 Under the new scheme ShubhAarambh Home Loans Axis Bank will waive 12 equated monthly
installments (EMIs) on regular repayments of loans of up to Rs 30 lakh.The lender has introduced
ShubhAarambh Home Loans, in which 12 EMIs are waived 4 EMIs each after the fourth, eighth and 12th year
from the date of the first disbursement.
Asian Infrastructure Investment Bank

AIIB - Asian Infrastructure Investment Bank; HQ – Beijing, china; President – Jin Liqun
China-led AIIB has approved USD 150mn loan for India infrastructure fund
 China-led Asian Infrastructure Investment Bank has approved USD 150 million equity investment loan to the
India Infrastructure Fund. It is the bank's first such loan to fund private projects.
Airtel Payment Bank

MD & CEO of Airtel Payment Bank - ShashiArora
Airtel Payment Bank joined hand with Hindustan Petroleum Corporation Limited (HPCL) for ATM
services
 Airtel Payments Bank, India‘s first payments bank has announced a strategic partnership with Hindustan
Petroleum Corporation Limited (HPCL) to give further boost to digital payments in the country and to add to
customer convenience. All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank. All
Airtel Payments Bank customers would be able to access a range of convenient banking services at these fuel
stations like opening new accounts, make cash deposits and withdrawals facility, and transfer money.
Useful Info
First Airtel Payment Bank was opened in Rajasthan.
HPCL - Hindustan Petroleum Corporation Limited
HPCL Headquarters – Mumbai
Chairman of HPCL – M.K. Surana
Bank of Baroda
BOB HQ- Gujarat; MD & CEO- P.S Jayakumar; Tagline- India‟s International Bank
EPFO signed an agreement with four private banks for collection of provident fund
 The Employees‘ ProvidentFundOrganisation (EPFO)signed anagreement with four privatebanks and Bank of
Barodafor collection of providentfund dues from employersand payments to itssubscribers.This is the first time
that theEPFOhastied up withprivate banks – namely, ICICIBank, HDFC Bank, Axis
BankandKotakMahindraBank.Earlier, only State Bank of Indiawasauthorised to collectcontributions from
employersand make payment toemployees. The move willhelp the EPFO save about300 crore rupees annually
as thefive banks have agreed tozero transaction charges.
Useful Info
EPFO –Employees‘ ProvidentFundOrganisation
HQ – New Delhi
Four Private Banks – ICICI, Axis, HDFC, Kotak Mahindra Bank.
PSU – Bank of Baroda
Canara Bank
Headquarters: Bengaluru; CEO: Rakesh Sharma; Tagline: Together we can
Canara Bank has inked pact with the state-owned general insurer The New India Assurance Co to sell
policies through its branches:
 The Bengaluru headquartered public sector lender said this corporate agency distribution tie-up will make
available general insurance products from over 6,000 Canara Bank branches in the country.
Organisation: New India Assurance Co
Headquarters: Mumbai
CEO: Shri G. Srinivasan
Tagline: India‘s premier general insurance company
Canara Bank launched its first „Digital Banking Branch‟ at Bengaluru
 Canara Bank, which has set an ambitious target of moving to ‗paperless‘ futuristic banking, launched its first
‗Digital Banking Branch‘ at Bengaluru. Titled ‗CANDI‘, the branch will provide an end-to-end digital
experience to customers.
Useful Info
State – Karnataka
Capital – Bengaluru
CM – Siddaramaiah
Governor – VajubhaiRudabhaiVala
Canara Bank hits overseas bond market with $400-mn issue
 Canara Bank has hit the international debt market with a benchmark dollar bond issue that will have a tenor
of 5 years. Through this issue, Canara Bank will raise $400 million as part of its $2 billion medium-term
note programme. A medium-term note (MTN) is a debt note that usually matures (is paid back) in 5–10
years.
Bond sale will be drawn through London branch of CanaraBank. The bonds will be listed on the Singapore
Stock Exchange.Foreign rating agency Moody‟s has assigned a Baa3 rating to the issue, which is on par
with the sovereign rating since majority stake in the bank is owned by the Indian government.
Canara Bank unveiled two new digital services for online payments
 Canara Bank unveiled two new digital services for online payments. Bharat QR (Quick Response) is for
payment settlement at merchant locations and Bharat Bill Payment System (BBPS) is an integrated bill
payment system for net banking customers.The first service is a mobile application, which enables a merchant
to accept payments as settlement for sale of goods or services. The second product (BBPS), an initiative of the
RBI offers bill payment services to the bank's net banking customers with network of agents.
Useful Info
BBPS - Bharat Bill Payment System
Dena Bank
Dena Bank HQ – Mumbai; Chairman & MD - Ashwani Kumar;
Bank Slogan - Trusted Family Bank
Restrictions on Dena Bank imposed by RBI

 The Reserve Bank of India(RBI) has imposed certainrestrictions on Dena Bankafter it reported negativereturn
on assets (ROA)fortwo years and net NPAbreaching the risk thresholdlevel. ―RBI initiated promptcorrective
action for DenaBank in view of high net NPAand negative RoA.
Useful Info
Dena Bank Founded - 26 May 1938; 79 years ago
National Payments Corporation of India

NPCI - National Payments Corporation of India; MD & CEO of NPCI - A. P. Hota
National Payments Corporation of India (NPCI) receives final nod from RBI to function as Bharat Bill
Payment Central Unit
 National Payments Corporation of India (NPCI), the umbrella organization for all retail payment systems has
received a final nod from the Reserve Bank of India to function as the Bharat Bill Payment Central Unit
(BBPCU) and operate the Bharat Bill Payment System (BBPS). On August 31, 2016, 8 BBPS operating units,
which received in-principle approval from RBI, took part in the pilot. Almost after a year of running the pilot,
streamlining the technology and business processes, NPCI has now received final clearance from RBI.
Tech giant Google is announced to unveil a digital payment service in India
 Tech giant Google is announced to unveil a digital payment service in India that has been developed for the
local market. In July, National Payments Corporation of India (NPCI) had stated that Google had completed
the testing of its UPI payment service and was awaiting Reserve Bank of India‘s approval to launch its service
in the country. Google is looking at launching a payment service „Google Tez‟, which will include support for
Unified Payments Interface (UPI) as well as mobile wallets like Paytm and MobiKwik.
Useful Info
Google HQ – Mountain View, California, United States
Google CEO – SundarPitchai
Indian Overseas Bank

HQ – Chennai; MD & CEO - Shri R. Subramaniakumar; Tagline – Good people to grow with;
Indian Overseas Bank launches retail mart in Thiruvananthapuram

 Indian Overseas Bank (IOB), the Lead Bank for Thiruvananthapuram district, has launched the Retail Mart, a
retail lending concept, in Kerala's capital city. The exclusive facility that handles retail products has started
functioning at the main branch.
Indian Overseas Bank has offered Bharat Bill Payment System, introduced by NPCI
 Public sector Indian Overseas Bank has offered Bharat Bill Payment System, introduced by the National
Payments Corporation of India, for its customers. BBPS is an integrated bill payment system that offers inter-
operable online bill payments to customers. The services include online payments of electricity,
telecommunication, DTH, water and gas bills, the Chennai headquartered bank said in a statement. Indian
Overseas Bank is one of the three public sector banks (apart from Bank of Baroda and Union Bank of India) to
get the approval from RBI for providing the service.
FINO Payments Bank

FINO Payment Banks HQ – Mumbai; FINO PayTech CEO – Rishi Gupta
FINO Payments Bank has commenced operations as a payments bank

 FINO Payments Bank has commenced operations as a payments bank with effect from 30th June 2017
according to the Reserve Bank of India. FINO PayTech Ltd, Mumbai, was one of the 11 applicants which were
issued in-principle approval for setting up a payments bank. Besides FINO, the other applicants which have
launched payment bank operations are Airtel M Commerce Services, Department of Posts and Paytm Payments
Bank.
Fino Payments Bank Launches Mobile Banking App
 Fino Payments Bank has launched its mobile banking app called BPay. Fino aims to make banking easy for
millions of underbanked people in India. The upgraded BPay app is available on Android at present. The
mobile banking app enables simple, paperless and convenient banking that allows customers to make bill
payments, recharges, fund transfers and buy insurance. An interesting feature of the mobile app is that it allows
customers to seamlessly access wallet as well as savings account, with a single login and interface.
IDBI Bank
IDBI HQ – Mumbai; CEO - Mahesh Kumar Jain; IDBI Bank Slogan – AaoSocheinBada
High rating for code compliance to IDBI Bank done by BCSBI

 According to the Code Compliance Rating of banks done by the Banking Codes and Standards Board of India
(BCSBI) 2017, only one (IDBI Bank) out of 26 public sector banks and eight out of 17 private sector banks got
‗high‘ rating for their adherence to code compliance.The eight private sector banks that got ‗high‘ rating are-
Axis Bank, DCB Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank and YES
Bank. The three foreign banks are Citibank, HSBC and Standard Chartered Bank, that were surveyed got
‗high‘ ranking.
Useful Info
BCSBI - Banking Codes and Standards Board of India
HQ – Mumbai
Chairman – A.C. Mahajan
IDBI Bank has started insolvency resolution process against LancoInfratech Ltd
 IDBI Bank has started insolvency resolution process against LancoInfratech Ltd. following a directive from the
Reserve Bank of India (RBI). While this is the first resolution process initiated by the lenders against 12 large
borrowers identified by the RBI recently. The RBI‘s internal committee identified 12 accounts on the criteria
that they have outstanding loan of Rs 5000 crore and is classified as non-performing loan as in March 2016.
These accounts constitute 25% of total NPAs.
IDBI Bank Launches „Project Nishchay‟ for Turnaround
 IDBI Bank has launched „Project Nishchay‟ in partnership with the Boston Consulting Group (BCG) to
accelerate its turnaround program and improve financial performance. The project will be led by senior
management at IDBI Bank along with BCG. BCG will assist the bank to identify areas for cost containment
and revenue maximization leading to sustainable growth and profitability of the Bank.
IndusInd Bank
IndusInd Bank HQ – Mumbai; CEO – RomeshSobti; Owner - Hinduja Group
IndusInd Bank became the 6th Indian bank whose market capitalisation soared past the Rupee 1 lakh
crore-mark
 IndusInd Bank became the 6th Indian bank whose market capitalisation soared past the Rupee 1 lakh crore-
mark. HDFC Bank is the country's most valued bank with a market capital of Rupee 4.6 lakh crore, followed
by State Bank of India, and ICICI Bank.
Useful Info

Private sector lender IndusInd Bank and Bharat Financial Inclusion Sign Exclusivity Agreement for
Merger
 Private sector lender IndusInd Bank and India's second largest Microfinance companyBharat Financial
Inclusion have signed a confidentiality agreement for the proposed merger between them. The Hinduja
Group controlled bank has informed the exchanges about an ‗exclusivity agreement‘ with the micro lender to
explore merger or expansion plans. The deal between the two companies may formalise after due diligence,
definitive documentation and their shareholders, regulatory, NCLT and other third-party approvals, as
applicable.
Useful Info
Chairman of IndusInd Bank - R. Seshasayee
Headquarters – Mumbai
DBS Bank
Headquarters of DBS Bank - Wognum, Netherlands; MD & CEO of DBS Group - Piyush Gupta
DBS Bank Gets RBI Nod for Subsidiary in India

 DBS Bank India, part of Singapore-based financial services group DBS Group Holdings, has received in-
principle approval from the Reserve Bank of India (RBI) to convert its existing India franchise to a locally
incorporated wholly-owned subsidiary (WOS) in India. In its guidelines, the RBI had pointed out that the WOS
model for foreign banks in India would involve local incorporation, a local board of directors, and a ring-
fenced capital and assets profile that would not be affected by the impact of global events on its parent. Piyush
Gupta said that the WOS model was important for the bank to grow its domestic franchise and maintain a deep
presence here. He said this would go towards supporting its small and medium enterprise (SME) strategy,
which was constrained by the lack of presence so far.
Useful Info
ICICI Bank
ICICI Bank HQ – Mumbai; CEO – ChandaKochhar; Tagline – Hum Hai Na, KhyalApka
ICICI Bank offers up to Rs 15 lakh instant personal loan via ATMs

 Largest private sector lender ICICI Bank will be selling personal loans of up to Rs 15 lakh through its ATMs
that can be availed of by select salaried customers even if they haven't previously applied for one. The facility
offers a bouquet of features - swift application in simple steps, multiple eligible loan amount options up to Rs.
15 lakh based on pre-checked CIBIL scores and instant transfer of the money to the customer‘s account.
ICICI bank launches instant credit card with the limit upto 4 lakhs
 ICICI Bank has announced the launch of Instant Credit Card Service that will enable its savings account
customers to get a credit card instantly, in a completely digital and paperless manner.There is a credit limit
of up to Rs 4 lakh based on pre-checked bureau scores.
ICICI Prudential Mutual Fund has launched a new website 'PlanYourGoal.com'
 ICICI Prudential Mutual Fund has launched a new website 'PlanYourGoal.com' to help users plan their
investments according to their future financial goals.The website guides the users to plan their big spends,
tax investments as well as the corpus required during retirement. The website also provides recommendations
based on calculations.
State-owned NTPC has signed a term loan agreement for Rs. 3,000 crore with ICICI Bank
 State-owned NTPC has signed a term loan agreement for Rs. 3,000 crore with ICICI Bank for partially
funding its capital expenditure.The loan which has a door-to-door tenure of 15 years will be utilized to part

finance the capital expenditure of NTPC. NTPC had commissioned 3,845 MW capacity and added 2,190 MW
to its commercial capacity during 2016-17.
ICICI Bank Launches „Cashback‟ Home Loans
 India‘s largest private sector lender, ICICI Bank announced a new home loan scheme that offers borrowers
the benefit of 1% cashback on every EMI, for the entire tenure of the loan. The offer will be valid for home
loans with a minimum tenure of 15 years and maximum tenure of 30 years. Customers can choose to adjust the
cashback against principal outstanding of their home loan. The cashback will start to accrue from the first EMI
itself. It will first get credited to the customer after completion of the 36th EMI.
ICICI Lombard Gets SEBI Nod for IPO
 ICICI Lombard General Insurance Company has got capital markets regulator SEBI's go-ahead for its
estimated Rs 6,000 crore initial public offer (IPO). ICICI Lombard is a joint venture between ICICI Bank and
Canada-based Fairfax Financial Holdings Ltd.
ICICI Bank committed financial assistance to Armed Forces
 ICICI Bank, the country's largest private sector bank by consolidated assets, committed financial assistance of
Rs. 10 crore to the Indian Armed Forces. This contribution by ICICI Bank would be made in two equal
tranches. This fund will be used for two programs. The first will support post-graduation education of the
widows of the soldiers and education for their wards. The second program will provide financial assistance
for marriages of the daughters of ex-servicemen.
Useful Info
Union Defence Minister – Nirmala Sitharaman
Constituency – Karnataka, Rajya Sabha
New Development Bank

NDB – New Development Bank; Headquarters – Shanghai, China; President –K V Kamath
First regional centre of the New Development Bank Opens in South Africa
 The first regional centre of the New Development Bank, set up by India and other BRICS nations, was
officially opened by South African President Jacob Zuma and the bank's Indian head K V Kamath.NDB has
anauthorized capital of the bank is USD 100 billion. In 2018 it is expected to present about 15 to 20 projects
involving a total lending of about USD 4 billion for the boards consideration.
Five banks of the BRICS Bank Cooperation Mechanism have agreed to establish credit lines
 Five banks of the BRICS Bank Cooperation Mechanism have agreed to establish credit lines in the national
currencies and cooperate on credit ratings. The agreement to this effect was signed ahead of the BRICS
Summit in China‟s Xiamen city. Brazilian Development Bank,Vnesheconombank, Export-Import Bank of
India, China Development Bank and Development Bank of South Africa signed the agreement in Beijing.
Ahead of the BRICS summit, the New Development Bank (NDB) of the BRICS countries has approved 1.4
billion US dollar loans for sustainable development projects in India, Russia and China.
Useful Info
BRICS Countries
Brazil – Brasília, Brazilian real
Russia – Moscow, Russian Ruble
India – New Delhi, Indian Rupee
China – Beijing, Renminbi (Yuan)
South Africa – Cape Town, Pretoria, Bloemfontein, Currency - South African Rand
China is hosting the 9th BRICS Summit.
The theme of the 9th BRICS Summit is "Stronger Partnership for a better future".

Vijaya bank
Vijaya bank HQ – Bengaluru; Present MD & CEO - Dr. R A Sankara Narayanan
Slogan – A friend you can bank upon
100 digital villages in various States of the country to be developed by vijaya bank
 Vijaya Bank is going to develop as many as 100 digital villages in various States of the country as part of its
initiative to promote digital banking among the rural population.
Useful Info
Vijaya Bank opens self-employment training institute in Indore

 Vijaya Bank has disbursed loan sanction letters to beneficiaries who were trained at the Vijaya Bank Self
Employment Training Institute (VIBSETI) in Bhenslay Village, Indore, Madhya Pradesh.
HDFC Bank
Headquarters of HDFC Bank – Mumbai; MD – AdityaPuri; Tagline –We Understand Your World
HDFC Bank Revises Interest Rates On Saving Accounts

 HDFC Bank Ltd has announced a revision in its savings bank interest rate effective August 19, 2017. Post
revision, customers maintaining savings bank account balance of Rs 50 lakh and above will continue to
earn interest at 4 per cent per annum. Customers maintaining account balance of below Rs 50 lakh will
earn interest at 3.5 per cent per annum from earlier 4 per cent. The revised rates will be applicable to both
resident and Non-resident customers.
HDFC Bank announced a software upgrade to create a single point-of-sale (PoS) machine
 HDFC Bank announced a software upgrade to create a single point-of-sale (PoS) machine which will accept
payments through Unified Payments Interface (UPI), BharatQR, SMS Pay and the bank‟s mobile wallet,
in addition to the traditional mode of swiping cards.The merchant has to do is to update his/her machine
with a software at no cost. The new software will work only on HDFC Bank-issued PoS machines, but will
accept any card or app from any bank/service provider.
HDFC Bank Becomes 2nd Most Valuable Company on BSE
 HDFC Bank surpassed Tata Consultancy Services (TCS) to become the country‘s second most valued firm
in terms of market valuation. Shares of HDFC Bank gained 0.93 per cent to Rs. 1,840 (its 52-week high) on
the BSE. Reliance Industries Ltd is the country‟s most valued firm with a market cap of Rs. 5,33,818.72
crore followed by HDFC Bank and TCS in top three list.
HDFC Bank is India‟s Top Brand: BrandZ Top 50 Report
 India‘s second largest private sector bank HDFC Bank topped the list of the country‟s top 50 brands
according to a report released by marketing and advertising conglomerate WPP Plc and Kantar Millward
Brown. The bank has retained the top slot for the fourth year in a row. Banks and telcos dominate the listing,
WPP‘s BrandZ Top 50. Airtel is at 2nd spot and State Bank of India is at 3rd. According to the report,
consumption of packaged consumer goods fell 4.2% and 2.4% year on year in November and December 2016
respectively, but recovered 0.6% in March this year and 3.9% in April.
Useful Info
Top three rank Holders
1st – HDFC Bank
2nd – Airtel
3rd – State Bank of India
HDFC Life Launched Neo, a Bot for Twitter

 HDFC Life Insurance Company has launched 'Neo', a servicing bot for Twitter that uses artificial
intelligence for customer service. This is the second bot put in operation by HDFC Life, after the launch of
SPOK, which was an email bot to answer customer queries. The Neo bot will be available 24/7 and has the
capability to authenticate customers and give frequently sought details, like fund value, sum assured and
premium amount.
IDFC Bank
IDFC Bank HQ – Mumbai; MD & CEO of IDFC Bank – Sunil Kakar
Private sector lender IDFC Bank has partnered with digital payments company Zeta
 Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch „IDFC
Bank Benefits‟. It is a payment solution for corporates that digitizes employee spends and claims, making the
process simple, real-time and paperless.The end-to-end digital solution comprises an IDFC Bank Benefits Card
and Zeta app which integrates the full suite of allowances and reimbursements offered by an employer into one
preloaded card. Employees can also access the Benefits Card via the Zeta app on mobile or web. The Zeta
app offers employees a real time view of spends, reimbursement limits and claims.
KarurVysya Bank
KVB - KarurVysya Bank; Headquarter – Karur, Tamil Nadu; Chairman – Swaminathan
KarurVysya Bank inaugurates AADHAAR enrolment centre in Chennai

 Private sector KarurVysyaBankhasunveiled the Aadhaar Enrolment Centre in Chennai.The Unique
Identification Authority of India had advised commercial banks to provide Aadhaar enrolment and updation
facility at various branches.KVB is the first private sector bank to provide Aadhaar Enrolment Centre
service in the country.
Useful Info
Kotak Mahindra Bank
KotakMahindra Bank HQ – Mumbai; Managing Director – UdayKotak;
Tagline: Lets make money simple
Kotak Mahindra Bank has launched Kotak Remit

 Kotak Mahindra Bank has launched Kotak Remit — an Aadhaar-based integrated outward forex remittance
solution for both customers and non-customers. The 24x7 forex remittance service offers a completely
paperless process that enables users to register online using Aadhaar and PAN numbers, and initiate
remittances instantly.
Punjab National Bank

HQ – New Delhi; MD & CEO - Sunil Mehta; Tagline: The name you can bank upon
PNB customers have to pay charges for depositing cash above Rs. 5,000 in a non-base branch
 PNB customerswill have to pay charges for depositing cashaboveRs. 5,000 in a non-base branch even if it is
located in the same city. Currently, the customers of Punjab National Bank have levied charges only for
depositing cash over Rs. 25,000 at a non-base branch within the same city.It has been decided to revise the
non-credit related charges (exclusive of GST) with effect from September 1st, 2017 for cash deposit above Rs.
5,000 at other than base branch within the same city.
Syndicate Bank
Syndicate Bank HQ – Manipal, Karnataka; MD & CEO of Syndicate Bank - MelwynRego
Tagline – Your faithful and friendly financial partner
Syndicate Bank Cuts Savings Account Interest Rate by 0.5%

 Public sector Syndicate Bank has cut savings account interest rate by 0.50 percent to 3.50 percent for
deposits up to Rs 25 lakh. The bank has revised rate of interest on savings bank deposits with effect from
October 10 to 3.50 percent from 4 percent existing rate. For the deposits above Rs 25 lakh, the interest rate is
unchanged at 4 percent. With this, Syndicate Bank has joined over two-dozen banks, both from the public and
private sector, who have cut the interest rate on deposits in various quantum.
Karnataka Bank
Karnataka Bank HQ – Mangaluru; MD & CEO - P.Jayarama Bhat
Tagline: Your family bank across India
Karnataka Bank has raised interest rates on savings bank account, 5% for Above 1 Core Deposit, 3% for
below 1 lakh Deposit
 Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5%
while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Earlier the private bank was charging
4% irrespective of the amount in the account. Karnataka Bank has said that the bank will offer 4% on deposits
in savings account between Rs 50 lakhs and Rs 1 crore. For deposits between Rs 1 lakh and Rs 50 lakhs, the
bank will offer 3.5%. The reduction in rate will be with immediate effect.
Yes Bank
Yes Bank HQ – Mumbai; MD & CEO – RanaKapoor; Tagline of Yes Bank – Experience our Expertise
Hike Messenger launched the new version of the app in collaboration with Yes Bank
 Hike Messenger launched the new version of the app with a completely new interface and the addition of a
mobile wallet, in partnership with YES Bank. With Unified Payments Interface support enabled in Hike 5.0,
users can now do free and instant bank-to-bank transfers with their friends. The feature works even if your
friends aren't on Hike.
Useful Info
CEO of Hike Messenger - KavinBharti Mittal
Indus OS partners with YES Bank to launch OS-integrated UPI platform
 Indus OS has partnered with YES Bank to launch OS-integrated UPI (Unified Payment Interface) payment
platform in India. Users with Indus OS will be able to use this UPI payment platform on SMS, dialler interface,
and on third party apps like WhatsApp. This means P2P transactions, as well as utility payments, can be made
via SMS or messaging. The platform is expected to launch in this quarter.
Useful Info
CEO of Indus OS - RakeshDeshmukh
YES BANK Launches „YES GST‟ Program to Assist MSMEs
 YES Bank, India‘s fourth largest private sector bank, along with YES Global Institute has launched ‗YES
GST‘ program for MSMEs (Micro, Small and Medium Enterprises) under its MSME CSR initiative, ‗Say YES
to Sustainable MSMEs in India‘. Through the program, the bank will help MSMEs to understand the impact of
the changes in tax system and prepare them to know the new GST tax system. YES Bank has also launched
GST-Ready products for MSMEs.
Useful Info
Union Minister for Micro, Small and Medium Enterprises – Kalraj Mishra
Constituency – Deoria (Uttar Pradesh)
Other Banking News

India ranks the top in Global Retail Development Index (GRDI)
 The 16th edition of the 2017 Global Retail Development Index (GRDI) ranks the top 30 developing countries
for retail investment worldwide and analyzed 25 macroeconomic and retail-specific variables.
Useful Info
Top three ranks – India, China, Malaysia
The GRDI 2017 was titled as 'The Age of Focus'
India tops global remittance-receiving list
 India has claimed the top spot among the remittance-receiving nations, surpassing China. The United Nations,
in its report, said Indians working across the globe sent home 62.7 billion US dollars last year.The 'One Family
at a Time' study by the UN International Fund for Agricultural Development said, about 200 million migrants
globally sent more than 445 billion dollars as remittances in 2016 to their families.Remittance flows have
grown over the last decade from 296 billion in 2007 to 445 billion dollars in 2016.
Export of spices & spice products achieves growth of 12 % in 2016-17
 The export of spices and spice products achieved a growth of 12 per cent during 2016-17.According to Spices
Board in Kochi, 9.48 lakhs tons of spices were exported earning over 17 thousand crorerupee.In 2015-16, the
country had exported 8.43 lakhs tons worth around 16 thousand crores.Chilli continued to be the most sought
after spice, registering an increase of 27 per cent in value in the last fiscal year.Cumin was the second most
exported spice recording a rise of 22 per cent in quantity and 28 per cent in value.
Useful Info
City of Spices – Kozhikode (Calicut), Kerala
Indian Institute of Spices Research (IISR) - Kozhikode (Calicut), Kerala
USD 250-million loan for making Indian youth more employable through reskilling approved by World
Bank
 The World Bank has cleared a USD 250-million loan for making Indian youth more employable through
reskilling, in a move that is seen to aid the Skill India Mission. Under the program, adults in 15-59 years of
age, underemployed or unemployed, will get the skill training.
Useful Info
World Bank HQ – Washington D.C
President - Jim Yong Kim
Founded in 1944
Current US President – Donald Trump
Current US Vice President - Mike Pence
AU Small Finance Bank placed on „caution list‟
 A day ahead of its IPO, AUSmall Finance Bank has beenplaced under the caution listby the Reserve Bank
tomonitor the foreignshareholding of the companywhich is hovering around thepermissible limit of 49%.AU
Small Finance Bank‘s1,912 crorerupees initial publicoffering (IPO), at a price bandof 355-358 rupees per
share,begins.
Useful Info
AU Small Finance Bank HQ – Jaipur
Brexit to impact €20 billion hole in EU budget

 Britain‘s withdrawal from theEU could leavethe remaining27 nations with a €20-billionhole in their budget to
ill, EUbudgetcommissionerGuentherOettingersaid,calling on the bloc to improveefficiency of itsspendinginthe
wake of Brexit in March2019.
Useful Info
EU - European Union
HQ - City of Brussels, Belgium
Founded - 1 November 1993, Maastricht, Netherlands
Credit card bill payment exempt from cash dealing limit of Rs 2 lakh
 Revenue department has said that restrictions on cash dealings of two lakh rupees or more will not apply to
credit card bill payments, business correspondents appointed by banks and issuers of prepaid instruments. The
Finance Act 2017 banned cash transaction of 2 lakh rupees or above with effect 1st of April this year.
Canara, HSBC, Oriental Bank of Commerce Life Insurance ties up with Dhanlaxmi Bank for marketing
bancassurance
 Private life insurance companyCanara HSBC Oriental Bank of Commerce Life Insurance has entered into an
alliance with the Kerala based Dhanlaxmi Bank for marketing various life insurance products. As part of the
agreement, the Bank will be a corporate agent for 3 years. All the life insurance products of Canara HSBC
Oriental Bank of Commerce Life Insurance would be made available to customers of Dhanlaxmi Bank and
would be sold by the licensed staff of the bank.
Useful Info
HQ of Dhanlaxmi Bank – Thrissur, Kerala
Tagline – Tann. Mann. Dhan
MD & CEO - G. Sreeram
China's biggest banks lost $15 billion value in a week
 China's biggest banks, including Industrial and Commercial Bank of China (ICBC) and Agricultural Bank of
China, lost a combined $15 billion (nearly 97,000 crore rupees) in value in a week.
Useful Info
Country – China
Capital – Beijing
Currency – Renminbi – Yuan
President – Xi Jinping
ICBC - Industrial and Commercial Bank of China
HQ – Xicheng District, Beijing, China
Agriculture Bank of China
HQ – Beijing, China
The Bank of England unveiled a new polymer £10 note featuring 19th century novelist Jane Austen
 The Bank of England unveiled a new polymer £10 note featuring 19th century novelist Jane Austen, in a move
to replace paper £5, £10 and £20 with secure plastic notes. This makes Austen the only woman other than
Queen Elizabeth to be featured on a polymer British bank note. This note's introduction marks the 200th
anniversary of Austen's death.
Useful Info
Bank of England – It is the central bank of the United Kingdom
HQ - Threadneedle Street London, EC2 England
Country – United Kingdom
Capital – London
Currency – Pound Sterling
Aurionpro launches a Bank in a Box to reduce branch expansion cost for banks
 Aurionpro Solutions a global leader in digital innovation, enterprise security and banking solutions, announced
its Branch-in-a-Box product, the Virtual Teller Machine (VTM) a fully integrated self-service kiosk for
automating 90% of banking transactions at the branch level. The VTM helps in migrating routine transactions
like eKYC, account opening, passbook and statement printing, video assistance, bill payment, cash and
cheques (single and bunched) deposit, cheque account summary, cash withdrawal, personalised instant card
issuance, activation and replacement from the branch to the teller machines.
Useful Info
Aurionpro Solutions
Corporate HQ – Mumbai
US Headquarter - San Ramon, California
CEO - Samir Shah
Standard Chartered Bank has launched a Multi-currency Forex Card for overseas travelers
 Standard Chartered Bank has launched a Multi-currency Forex Card for overseas travelers. The card will allow
customers the convenience of loading up to 20 widely used currencies on one card with an online reload
facility during overseas travel. The card will offer travelers protection against the frequent currency
fluctuations by locking in the currency exchange rate they availed during the time of loading the card, and not
pay different rates every time they use the card.
Useful Info
Standard Chartered Bank HQ – London, England
Chairman - Jose Vinals
Bolivia has declared "total independence" from the International Monetary Fund (IMF) and World Bank
 Bolivia's President Evo Morales has declared "total independence" from the International Monetary Fund
(IMF) and World Bank. Last year, Bolivia has announced that it will no longer respond to their demands.
Useful Info
IMF – International Monetary Fund
HQ – Washington D.C
Country – Bolivia
Capital – Sucre
Currency - Bolivian boliviano
SIDBI has started full-fledged merchant banking operations to benefit MSMEs
 Small Industries Development Bank of India (SIDBI) has started full-fledged merchant banking operations to
benefit the expanding number of growth-oriented micro, small and medium enterprises (MSMEs), especially
those with a strong technology and innovation quotient. The initiative is aimed at enhancing the access of
MSMEs to the capital markets, including the SME Trading Platform and Institutional Trading Platform.
Useful Info
SIDBI - Small Industries Development Bank of India
HQ – Lucknow
Chairman and Managing Director - KshatrapatiShivaji
SIDBI was established in the year 1990
RBI allows NBFCs to sell and market the new pension scheme
 The Reserve Bank of India has allowed systematically important non-banking finance companies (NBFCs) to
sell and market the new pension scheme (NPS). NBFCs with asset size of Rs500 crore and above that have
made a net profit in the preceding financial year be permitted to sell NPS to their clients after registration with
the pension regulator.
Useful Info

IRDAI - Insurance Regulatory and Development Authority of India
HQ – Hyderabad
Chairman – T.S. Vijayan
RBI - Reserve Bank of India
Governor – Urjit Patel
IBBI Registered National E-Governance Services Ltd as Information Utility
 The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services
Limited (NeSL) as an Information Utility (IU) under the IBBI (Information Utilities) Regulations, 2017.
With this NeSL has become the first IU registered by the IBBI and the registration is valid for five years
from the date of registration. Information Utility stores financial information that helps to establish defaults as
well as verify claims expeditiously and facilitates completion of transactions under the Insolvency and
Bankruptcy Code in a time-bound manner.
Useful Info
IBBI - Insolvency and Bankruptcy Board of India
Chairperson of IBBI - M. S. Sahoo
Stock markets falls across globe, Sensex slumps 240 points
 Stock markets have fallen across the globe, today. At home, after a weak opening, the Sensex at the Bombay
Stock Exchange lost considerably more ground, and had slumped 240 points, or 0.8 percent, to 31,653 a short
while ago. The Nifty at the National Stock Exchange had dropped 83 points, to 9,891.
Useful Info
Indian Stock Exchanges
BSE – Bombay Stock Exchange
NSE – National Stock Exchange
Other Important Stock Exchanges in the world
New York Stock Exchange
Hong Kong Stock Exchange
Tokyo Stock Exchange
London Stock Exchange
Shanghai Stock Exchange
US banking regulators ordered Pakistan‟s Habib Bank to shutter its New York office
 US banking regulators ordered Pakistan‟s Habib Bank to shutter its New York office after nearly 40 years,
for repeatedly failing to heed concerns over possible terrorist financing and money laundering. The state‘s
Department of Financial Services, which regulates foreign banks, also slapped a 225 million Dollars fine on the
bank. In 2006, it was ordered to tighten Habib Bank's oversight of potentially illegal transactions but failed to
comply.
Useful Info
Country – Pakistan
Capital – Islamabad
Currency – Pakistani Rupee
Fiscal deficit touches 92.4% of budget estimates at July-end
 India‟s fiscal deficit at July- end touched 92.4 % of the budget mainly because of front loading of
expenditure by various government departments. In absolute terms, the fiscal deficit- difference between
expenditure and revenue - was Rs 5.04 lakh croreduring April- July 2017-18, according to the data of
Controller General of Accounts (CGA). During the same period of last financial year, 2016-17, it was 73.7
% of the target. For 2017-18, the government aims to bring down the fiscal deficit to 3.2 % of the GDP. Last
fiscal, it had met the deficit target of 3.5 % of the GDP.

21st GST Council meeting underway in Hyderabad
 The 21st meeting of the Goods and Services Tax (GST) Council has begun under the chairmanship of Union
Finance Minister ArunJaitley in Hyderabad.The day-long meeting will discuss several aspects relating to the
implementation of the GST including the IT systems of the Goods and Services Tax Network, the problems
being encountered during the tax return filing process and the difficulties faced by industry in filing GST
returns.GST council will also take a final call over the demands raised by several states like Telangana to
further reduce the GST on public interest projects like irrigation and road development.
Finance Minister ArunJaitley Constitutes GoM to Monitor IT Challenge in GST
 Finance Minister ArunJaitley has constituted a Group of Ministers (GoM) headed by Bihar Deputy Chief
Minister Sushil Kumar Modi to monitor and resolve the IT challenges faced in the implementation of GST.
The GoM will be assisted by the Chairman and Chief Executive Officer of Goods and Services Tax Network
(GSTN). Besides, a Committee on Exports has also been constituted under the convenorship of the
Revenue Secretary Dr.HasmukhAdhia to look at the issues of export sector and to recommend the GST
Council suitable strategy for helping the export sector in the post-GST scenario.
Useful Info
Union minster for Finance – Arunjaitley
Constituency – Gujarat, RajyaSabha
Peer-to-peer Lending Platforms to be Treated as NBFCs
 After a year or more of due-diligence, the RBI has notified that peer-to-peer (P2P) lending platforms need to
be regulated and treated on par with non-banking financial companies (NBFCs).The final regulatory
framework for P2P lenders is still awaited. Few important P2P lending platforms in India are LenDen Club,
Faircent, Qbera, Lendbox, Rupaiya Exchange and Monexo.
Useful Info
NBFC - Non-banking financial companies
World Trade to Grow at Higher 3.6% in 2017: WTO
 World trade in goods is estimated to grow at a higher 3.6 percent in 2017 compared to 1.6 percent increase
in 2016, according to revised estimates circulated by the World Trade Organisation. Growth in global trade
was earlier projected at 2.4 percent in 2017 by the WTO, which attributed the improved outlook to a resurgence
of Asian trade flows. This was mainly due to intra-regional shipments picking up and a recovery in import
demand in North America.
Useful Info
WTO – World Trade Organisation
Headquarters – Geneva, Switzerland
Director-General of the WTO - Roberto Azevêdo
India growing pretty robustly: World Bank President
 World Bank President Jim Kim has said India has been growing pretty robustly. Speaking at the Bloomberg
Global Business Forum meeting in New York , Kim said Japan, Europe and the US along with India were
growing and there was a levelling-out in developing countries. He called for more cooperation among the
multilateral system, private sector and the governments to take advantage of the current win-win situation.
Useful Info
President of World Bank – Jim Kim
Government Keeps Interest Rates Unchanged on Small Savings Schemes
 Ahead of monetary policy review, the government has kept unchanged the interest rates on small savings
schemes like PPF, KisanVikasPatra and SukanyaSamriddhi for October-December quarter. Investments in
the Public Provident Fund (PPF) scheme will fetch annual rate of 7.8 percent while KisanVikasPatra
(KVP) investments will yield 7.5 percent and mature in 115 months. The one for girl child savings,

SukanyaSamriddhi Account Scheme will offer 8.3 percent annually. Similarly, the investment on 5-year
Senior Citizens Savings Scheme will yield 8.3 percent. The interest rate on the senior citizens scheme is paid
quarterly.
Useful Info
SukanyaSamriddhi Account can be opened up to age of 10 years only from the date of birth.
The normal Premature closure will be allowed after completion of 18 years provided that girl is married under the
SukanyaSamriddhi Account Scheme.
Senior Citizen Savings Scheme (SCSS) Account- An individual of the Age of 60 years or more may open the
account.
National Savings Certificates (NSC) Scheme specially designed for Government employees, Businessmen and
other salaried classes who are Income Tax assesses.
Govt to exempt small exporters from furnishing bank guarantee for shipping goods & services
 Government has decided to exempt small exporters from furnishing bank guarantee for shipping goods and
services. In a statement, Finance Ministry said that to facilitate exports under GST, it has been decided that the
facility of furnishing Letter of Undertaking, in place of a bond, for exporting goods and services shall be
allowed to exporters and no bank guarantee will be required. The decision comes a day after exporters met
Finance Minister ArunJaitley for resolution of GST-related problems to boost overseas shipments.
Useful Info
Union Minister for Finance - ArunJaitley
Constituency – Gujarat, RajyaSabha
World's Biggest Wealth Fund Hits $1 Trillion Value For First Time
 Norway's sovereign wealth fund, the largest in the world, reached the value of $1 trillion for the first time.
This amount equals nearly $189,000 (157,000 euros) for each of the 5.3 million people living in Norway. The
fund mainly invests in stocks (accounting for 65.1 per cent of the portfolio at the end of the second quarter), but
also in bonds and real estate. With stakes in nearly 9,000 companies, it owns 1.3 per cent of the world's market
capitalization, and 2.3 per cent in Europe.
Useful Info
Country – Norway
Capital – Oslo
Currency - Norwegian krone
HSBC
HSBC Launches App to Track Trade Transactions
 HSBC (Hongkong and Shanghai Banking Corporation) announced the launch of a mobile app - Trade
Transaction Tracker - to help customers track the status of their trade transactions on a real-time basis. This
feature has been built into the existing HSBCnet mobile application and has been launched in selected
countries in which HSBC operates, including India. It will provide a global view of import and export
documentary credit and collections transactions, across markets in one single app.
Useful Info
HSBC Headquarters - London, United Kingdom
US central bank fines HSBC $175 mn for Lax Forex Oversight
 The US central bank has fined global banking giant HSBC $175 million for failing to oversee foreign
exchange traders who misused confidential client information and colluded with traders at competing banks.
Between 2008 and 2013, the bank failed to detect misconduct by senior traders, including its global head of
foreign exchange cash trading, according to the Federal Reserve. The enforcement action comes two months
after the Fed also fined BNP Paribas USD 246 million over similar violations. HSBC was one of six major
US and European banks fined a total of $4.2 billion by global regulators in a November 2014 crackdown for
attempted manipulation of the foreign exchange market.
Useful Info
Country – United States of America
Capital – Washington D.C
Currency – US Dollar
President – Donald Trump
The Federal Reserve System is the privately owned central banking system of the United States.
SEBI
SEBI committee headed by UdayKotak
 The Securities and ExchangeBoard of India (SEBI) hasformed a committee under the chairmanship of
UdayKotak, executive vice chairman and managing director, Kotak Mahindra Bank to advise on
corporategovernance issues.
SEBI relaxes norms for banks to take over stressed assets of listed companies to recover bad loans
 Capital markets regulator, SEBI (Securities Exchange Board of India) relaxed takeover norms for the
acquisition of stressed assets of listed companies to help the government and the RBI in their efforts to tackle
bad loans. SEBI Chairman Ajay Tyagi took the decision after a board meeting in Mumbai.
Useful Info
SEBI HQ – Mumbai
Chairman - Ajay Tyagi
SEBI Allows Multi Commodity Exchange(MCX) to launch Gold Options
 The Multi Commodity Exchange Ltd (MCX), the country‘s largest commodity exchange has received capital
markets regulator Securities and Exchange Board of India‟s (Sebi) approval to launch options trading in
gold.It will allow investors and hedgers to minimise their price risk at a fraction of cost compared to currently
available futures trading.
Useful Info
MCX - Multi Commodity Exchange
Managing Director of MCX - MurgankParanjape
Markets regulator SEBI has introduced an online registration mechanism for custodians of securities
 Markets regulator SEBI has introduced an online registration mechanism for custodians of securities to
make it convenient for them to do business.The new system would help custodian of securities to complete
registration and other regulatory filings with Sebi much faster and in a cost-effective manner.
Useful Info
Chairman - Ajay Tyagi
Markets regulator SEBI barred Orion Capital as well as Orion Broking from Markets for 10 years
 Markets regulator SEBI barred Orion Capital as well as Orion Broking and their partners from the
securities markets for 10 years for failing to redress several investor grievances pertaining to non- settlement of
funds due to the clients. The nature of investor complaints received against both the firms are predominantly on
non-settlement of the funds and securities and balances due to their clients. The claim amount is more than Rs
6 crore against Orion Capital and over Rs 4 crore against Orion Broking.
Useful Info
Chairperson – Ajay Tyagi
SEBI Advisory Committee to Discuss Trading Hours Extension

 An advisory committee of the Securities and Exchange Board of India is likely to discuss a proposal for
extending stock market trading hours. The stock market in India currently opens at 9 a.m. and closes at 3.30
p.m., but there is a view, including among stock exchanges, that the trade hours could be extended till up to
7.30 p.m. to better align domestic trading with global markets. The 19-member committee is led by Jayanth
R Varma, professor, Indian Institute of Management, Ahmedabad. The move to extend trading timings will
only serve to push up costs and will hurt small and medium brokers the most.
SEBI Allows Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to Issue
Bonds
 The Securities and Exchange Board of India (SEBI) allowed Infrastructure Investment Trusts (InvITs)
and Real Estate Investment Trusts (REITs) to raise capital by issuing debt securities. The move will help
attract investors to the capital-starved property sector. In addition to allowing bond issuances, SEBI also
introduced the concept of strategic investor for REITs, similar to InvITs.


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Important Banking NEWS (1st Jun to 15th Oct 2017) – IBPS RRB PO/Clerk 2017

Important Banking NEWS (1st Jun to 15th Oct 2017)

Reserve Bank of India

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State Bank of India

400 crore rupees for Rooftop solar projects announced by SBI

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LokSabha Passes Bill to Raise NABARD‟s Capital to Rs30,000crore

Asian Development Bank

ADB Lowers India Growth Forecast for this Fiscal

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Asian Infrastructure Investment Bank

Airtel Payment Bank

Restrictions on Dena Bank imposed by RBI

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National Payments Corporation of India

Indian Overseas Bank

Indian Overseas Bank launches retail mart in Thiruvananthapuram

FINO Payments Bank

FINO Payments Bank has commenced operations as a payments bank

High rating for code compliance to IDBI Bank done by BCSBI

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DBS Bank Gets RBI Nod for Subsidiary in India

ICICI Bank offers up to Rs 15 lakh instant personal loan via ATMs

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New Development Bank

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Vijaya Bank opens self-employment training institute in Indore

HDFC Bank Revises Interest Rates On Saving Accounts

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KarurVysya Bank inaugurates AADHAAR enrolment centre in Chennai

Kotak Mahindra Bank has launched Kotak Remit

Punjab National Bank

Syndicate Bank Cuts Savings Account Interest Rate by 0.5%

Other Banking News

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