Daily Current Affairs: 26th Sep 2023 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc
Table of Contents
SEBI significant amendments:
- The Securities and Exchange Board of India (Sebi) has made significant amendments to the rules governing the listing of non-convertible debt securities issued by listed entities. These changes, which come into effect on January 1, 2024
- Under the newly amended rules, listed entities that have outstanding non-convertible debt securities must list any subsequent issuances of such securities on stock exchanges.
Transparent Mechanism for Declaring Wilful Defaulters : RBI
- The Reserve Bank of India (RBI) has introduced a robust and transparent mechanism for the classification of wilful defaulters, aimed at strengthening accountability and making it more challenging for defaulters to secure funding for future endeavors.
- Under the proposed guidelines, the RBI has broadened the definition of wilful defaulters to encompass not only borrowers but also guarantors who fail to meet their financial obligations despite having the capacity to do so.
Entities to Release Property Documents Promptly: RBI
- The Reserve Bank of India (RBI) has issued directives to all Regulated Entities (REs), including banks and non-banking financial companies (NBFCs), to release original movable or immovable property documents within 30 days of full loan repayment.
- Lenders must also remove any charges registered with registries within the same timeframe.
- These directives apply to personal loans, including consumer credit, education loans, loans for immovable assets (e.g., housing), and loans for investment in financial assets like shares and debentures.
NEO For Business’ Banking Platform For MSMEs : Launched By AXIS Bank
- Axis Bank has recently introduced its Transaction Banking platform, ‘NEO for Business,’ with the aim of addressing the evolving requirements of Indian Micro, Small, and Medium Enterprises (MSMEs).
- This innovative digital offering is designed to comprehensively address the real-time requirements of MSMEs, marking a significant milestone in the landscape of business banking in India.
The Finance Ministry Predicts 6.5% Real GDP Growth For India In FY24:
- The Union Ministry of Finance recently released its Monthly Economic Review for August 2023, confirming its confidence in a 6.5 percent real GDP growth projection for FY24, characterized by balanced risks.
- The report paints a promising picture of India’s economic performance in the first quarter of the fiscal year 2023-24 (FY24).
Health Insurance ki Subah ho Gayi Mamu : ACKO
- ACKO, a leading insurance company, has unveiled its latest health insurance offering called the “ACKO Platinum Health Plan.”
- This comprehensive plan boasts several notable features, including 100% bill payment, no room rent capping, and zero waiting periods.
RBI released the names of 15 NBFCs that fall under the Upper Layer (UL)/NBFC-UL of the SBR:
- In the year 2023-24, RBI released the names of 15 NBFCs that fall under the Upper Layer (UL)/NBFC-UL of the SBR.
- In October 2021, the Reserve Bank of India (RBI) introduced a groundbreaking regulatory framework known as Scale Based Regulation (SBR) for Non-Banking Financial Companies (NBFCs).
- This framework aims to categorize NBFCs based on their asset size and other critical factors, providing a clear roadmap for regulation.
- Scale Based Regulation (SBR) is a revised regulatory framework introduced by RBI for NBFCs in India. This framework is designed to categorize NBFCs based on their asset size and activities, allowing for more tailored regulatory oversight.
Punjab National Bank (PNB) started the PNB Pride-CRMD module equipment:
- Punjab National Bank (PNB) started the PNB Pride-CRMD module equipment, an android application for workers to effectively track the SMA (special mention account) borrowers. The PrideCRMD module has in-built TalkBack software enabling the visually deformed to enter the network quickly and discuss with clients through their phones.
PPB (Paytm Payments Bank) has been provided the expected bank prestige:
- PPB (Paytm Payments Bank) has been provided the expected bank prestige by the Indian Reserve Bank.
- The bank was added in the following Schedule to the Indian Reserve Bank in 1934, and the permission will enable it to bring more monetary assistance and developments.
ESFB (Equitas Small Finance Bank):
- ESFB (Equitas Small Finance Bank) has been announced as th ebanking member of the state government of Maharashtra to give its services to workers of the State Government. SouthIndian and Bandhan Bank has been appointed the role of dispensing incomes and incomes to the state workers.
