1. State Bank of India increased fixed deposit rates 6.8% interest rate on FDs with maturity period of one to two years, earlier it was 6.7%.
2. 7.30% for senior citizens with tenure between one year and two years, from 7.2% earlier for violating stock broker norms, SEBI (Securities and Exchange Board of India) has fined brokerage house Anand Rathi Rs 1 lakh.
3. Reserve Bank has relaxed norms for External Commercial Borrowings (ECBs) by reducing the mandatory hedging provision to 70% from the current 100% between 3 and 5 years.
4. HDFC ERGO General Insurance Company, India’s leading private sector general insurance company and Federal Bank, announced tie-up for the distribution of HDFC ERGO’s range of nonlife insurance offerings to the customers of the Bank through its network branches.
5. Reserve Bank of India (RBI) issued guidelines for enhancing the credit discipline of large borrowers by allowing a minimum of 40% of the working capital to be drawn. According to the guidelines, large borrowers having working capital of Rs. 150 crores and above can draw a minimum loan component of 40% of the capital.
6. Asian Development Bank (ADB) has entered into an arrangement with the World Bank to put in place a single framework that will make co-financed projects more efficient.
7. Bhupesh Baghel, who is also the president of Chhattisgarh Pradesh Congress Committee, will be the new chief minister of Chhattisgarh state.
8. OBOPAY, the global financial technology company, announced the launch of a new generation prepayment instrument called- OBOPAY Card-in partnership with Federal Bank and Mastercard.
9. Asian Development Bank (ADB) in its Outlook Supplement has retained India’s growth forecast at 7.3% for current fiscal (2018-19) and 7.6% in the following financial year (2019-20).
10. Reserve Bank of India has shortlisted six major IT companies, TCS, Wipro and IBM India, Capgemini Technology Services India, Dun & Bradstreet Information Services India, and Mindtree Ltd. to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers and willful defaulters.
11. According to a newly released report by Fan Zhang, Senior Economist, South Asia Region, World Bank.- “In the Dark: How Much Do Power Sector Distortions Cost South Asia,” India’s power sector has an “efficiency” gap that costs the Indian economy 4.13% of GDP a year, equivalent to $86 billion in fiscal year 2016.
12. C.R.I. pumps, one of the Leading Manufacturer of energy efficient pumps won the National Energy Conservation Award 2018 in the pumps category for the fourth time.
13. The Reserve Bank of India(RBI) in consultation with the government of India had decided to have “rule-based dynamic limit” for total Outstanding External Commercial Borrowings(ECBs) to 6.5 Pc of GDP.
14. Paisabazaar.com, online marketplace for financial products and Karnataka Bank entered into a partnership to offer the bank’s home loan product to customers on the Paisabazaar platform.
वन लाइनर्स: बैंकिंग जीके दिसम्बर 2018
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