Banking And Finance Current Affairs
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Banking And Finance Current Affairs Highlights:
- RBI issues final license to Paytm for conducting payment operations from May 23.
- Specific Bank accounts can be identified with bank account number, IFSC code, mobile money identifier (MMID) number for IMPS, and customer relationship number.
- As per the new RBI bank expansion norms, Banks have to open at least 25% of their outlets every year in unbanked rural centres.
- RBI revised its PCA framework and placed business restrictions on IDBI and UCO banks in April-May 2017
- RBI has strengthened its regulation and monitoring mechanism of bank capitals and non-performing assets (NPA).
- RBI has taken no decision on introduction of Sharia banking in India.
- The co-operative Kapol Bank has been ordered by RBI not to grant or renew loans and withdrawals without its permission.
- RBI is coming up with a proposal to assist customers in retaining their bank account numbers while switching banks.
- According to PTI reports, RBI has refused to comply with Supreme Court orders and make public the names of those who defaulted loans of more than 1 crore Rupees.
- Kotak Mahindra Bank has raised more than 900 million US dollars in May 2017 by selling new shares to funds.
- RBI released the Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs) on March 31, 2017.
- The domestic rating agency ICRA says the GST rates will not affect inflation.
- Finance Minister Arun Jaitley says Central Government is committed to resolving bad debts and improve banking sector performance.
- The SBI logo was designed by Shekhar Kamat with a blue circle and a small cut at the bottom. This logo has also been adopted by the newly merged associate banks.
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