Banking Current Affairs|April 2018|SBI PO/CLERK|IBPS RRB 2018
BANKING CURRENT AFFAIRS| APRIL 2018
Kotak Mahindra Bank launched 'Keya' an AI-powered
voice bot integrated with Kotak’s phone banking
helpline aimed at augmenting the traditional
interactive voice response (IVR) system in both
English and Hindi. It is developed by the bank in
partnership with Nuance, USA.
RBI said Jio Payments Bank commences its banking
services. Telecom major Bharti Airtel was the first to
begin payment bank services.
IndusInd Bank received RBI's approval to buy the
securities services arm of IL&FS (Infrastructure
Leasing and Financial Services), promoter shareholder
of IL&FS Securities Services Ltd (ISSL).
Qatar-based Doha Bank has set up the first branch in
Chennai, taking the total number of branches in the
country to three. The bank's CEO is R Seetharaman.
ICICI Bank launched a cross-border remittance facility
'Social Pay' that can be used by NRIs for sending
money to their friends and family in India through
social media like WhatsApp and e-mail.
Financial Intelligence Unit (FIU) slapped Rs. 9 crores
penalty on Bank of Baroda for "failing" to adhere to
anti-money laundering norms, and not having an
effective system to report suspicious transactions
linked to the Rs 6,000 crore scam in its Delhi-based
branch.
RBI has temporarily relaxed provisioning norms for
lenders to defaulters undergoing bankruptcy
resolution in a move that could help banks bolster
their financial results for the year and quarter ended
March. Provisions for accounts referred to the
National Company Law Tribunal (NCLT) have been
reduced to 40% of dues at the end of March for
secured loans, down from 50%. There’s no change on
provisions for unsecured loans, which stand at 100%
as soon as a case is referred to bankruptcy court.
RBI barred banks and financial institutions from
dealing with virtual currencies including Bitcoins and
said that it was time & again warning users of virtual
currencies regarding the risks associated with it.
Federal Bank Ltd entered into a partnership with
Fortune Wealth Management Company Ltd, one of the
leading stock broking companies of South India for
providing Portfolio Investment Scheme (PIS) services
to NRIs. This will enable non-resident Indian clients to
invest in Indian equity markets on repatriable and
non-repatriable basis.
Housing Development Finance Corp, India’s largest
mortgage financier, has increased its benchmark prime
lending rate (PLR) for the first time since December
2013, marking a shift in the interest rate trajectory.
Mortgage rates for loans above Rs 30 lakhs have been
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raised by up to 20 basis points while those below Rs 30
lakhs, which include priority sector loans, increased
by 5 basis points.
Note: One basis point is 0.01 percentage point.
Shikha Sharma’s term as the chief executive of Axis
Bank would come to an end in December 2018
bringing curtains down on a position spanning nearly
a decade that began with a tumult and culminate in a
shortened term because of the regulator’s reluctance to
approve the Axis board’s proposal.
SBI announced the launch of its UK subsidiary, SBI
(UK) Limited, with an initial capital commitment of
225 million pounds from its parent entity. India's
largest state-owned bank, which celebrated the new
subsidiary, becomes the first foreign bank in the UK to
ringfence its retail division from its wholesale
business.
AU Small Finance Bank announced an increase in
interest rates on its savings account deposits to up to
6.75%. For savings account customers keeping
balances between Rs. 10 lakh to Rs. 10 crore, the rate
has been increased by 25 basis points to 6.75%. For
balances between Rs. 1 lakh to Rs. 10 lakh, the rate is
6.50% & for the balances below Rs. 1 lakh, the rate has
been left unchanged at 5%.
Note: Bank's MD & CEO is Sanjay Agrawal.
Harun Rasid Khan, former deputy governor at RBI,
has joined Bandhan Bank board. Bandhan Bank
Managing Director is Chandra Shekhar Ghosh.
Banks' credit grew at 10.32 % year-on-year to Rs.
86,50,714 crores in the fortnight ended March 30, 2018,
as per RBI. In the fortnight ended March 30, 2018, the
deposits increased by 6.66% to Rs. 1,14,74,989 crores
from Rs. 1,07,57,656 crore in the year-ago period.
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 Banking Current Affairs|April 2018|SBI PO/CLERK|IBPS RRB 2018
The govt named former bureaucrat Bhanu Pratap
Sharma as the new chairman of the Bank Board
Bureau. Vedika Bhandarkar, P Pradeep Kumar &
Pradip Shah named as the new members of Bank of
Board Bureau. Bhanu Pratap Sharma replaced Vinod
Rai. Sharma has been appointed for two years.
Axis Bank said its board has approved a proposal to
increase its borrowing limit up to Rs 2 lakh crore.
The Kalinga Nagar branch of State Bank of India adopted
a village in Purba Medinipur district of the state to
familiarise the residents with cashless transactions.
The finance ministry has reopened the case for
restructuring of IDBI Bank. Govt. holds 78% in the bank.
ICICI Bank has introduced a 'digital form' which will
help open current accounts in a few hours. It will help
it secure more clients as its helps in 'ease of doing
business' and help increase the bank's market share.
IDBI Bank said RBI has imposed a penalty of Rs. 3
crore on the bank for noncompliance to the Income
Recognition and Asset Classification (IRAC) norms.
Indian Overseas Bank (IOB) entered into an agreement
for information utility services with the National E-
Governance Services Limited (NeSL).
Total deposits in Jan Dhan accounts crossed Rs. 80,000
crores mark with more people joining the flagship
financial inclusion programme.
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The National Democratic Alliance (NDA) government
aims to empower 1.55 lakh post offices after
integration with 650 Payments Banks to enable an
array of digital services including financial inclusion
for 130 crore Indians.
Kotak Mahindra Bank announced the appointment of
Prakash Apte as part-time chairman of the Bank for a
period up to December 31, 2020, subject to regulatory
approvals.
Mr. Rana Kapoor, MD & CEO, YES BANK was
recognized by Advertising Agencies Association of
India (AAAI) as an Outstanding Contributor to the
Media and Communication Industry and Indian
Brand Builder.
A Supreme Court verdict paved the way for regional
rural bank (RRB) employees draw pension at par with
nationalised banks, ending a two-decade long legal
battle. About 27,000 retired RRB employees are set to
gain from this verdict, which the bank association
torch bearers dubbed as historic.
The TRA Brand Trust Report 2018 said the State Bank
of India was the most-trusted bank (both public and
private sector) in the country and ICICI Bank topped
the chart among the private ones.
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