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Banking Current Affairs: 27th Sep 2023

Daily Current Affairs: 26th Sep 2023 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

RBI issues new prudential regulations for All Financial Institutions:

  • The Reserve Bank of India (RBI) issued the “Prudential Regulations on Basel III Capital Framework” for All India Financial Institutions (AIFIs).
  • The directions will govern the operations of five prominent AIFIs, including NABARD, NHB, and SIDBI.
  • The regulations will promote financial stability and protect the interests of depositors and investors.

RBI Cancels Registration Of Kerala-Based Pooram Finserv:

  • Reserve Bank of India has cancelled the certificate of registration of Pooram Finserv Private

Govt approves welfare measures for LIC agents, employees:

  • The Centre has approved welfare measures for LIC agents and employees, including an increase in gratuity limit, renewal commission eligibility, uniform rate of family pension, and enhanced term insurance cover.
  • The measures follow amendments to LIC (Agents) Regulations, 2017.
  • The gratuity limit for LIC agents has been raised from ₹ 3 lakh to ₹ 5 lakh

RBI imposes monetary penalty on four co-operative banks:

  • The Reserve Bank of India has imposed monetary penalties on four co-operative banks for regulatory compliance deficiencies.
  • The banks include Lalbaug Co-operative Bank Ltd., Co-operative Bank of Mehsana, the Harij Nagrik Sahakari Bank, and the National Co-operative Bank Ltd. in Mumbai, Maharashtra.

MSDE Minister launches ‘Skills on Wheels’ with NSDC and IndusInd Bank:

  • Skills on Wheels initiative was launched on September 17, 2023 at a flagging-off ceremony attended by Union Minister for Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan and Speaker, Lok Sabha, Shri Om Birla.
  • The initiative aims to empower 60,000 rural youth, especially women, over a period of five years by providing them with relevant skills training that will improve their livelihoods and make them job and future-ready.

TCS Partners with BankID BankAxept AS:

  • Patnership between TCS and BankID BankAxept AS, which is a major development in Norway’s financial infrastructure.
  • TCS and BankID BankAxept AS have entered a strategic partnership to set up and manage an operations command center in Oslo, Norway, that will enhance the resilience, security and availability of the country’s critical financial infrastructure.
  • BankAxept is the national payment system in Norway, with 80% of card payments made using a BankAxept card.
  • BankID is the Norwegian eID verification solution, with more than 90% of the country’s population, banks, public institutions and commercial enterprises dependent on it.

Bharti AXA Life Insurance Launches New Mid-Cap Scheme:

  • Bharti AXA Life Insurance has launched a new mid-cap scheme called Emerging Equity Fund. This is the first new fund offering (NFO) by the insurer in more than 13 years.
  • The fund aims to provide long-term capital appreciation by investing in a portfolio of mid-cap companies, which are expected to be the future’s blue chips. The fund will be managed by a team of seasoned professionals at Bharti AXA Life Insurance.
  • The fund will charge an annual fund management charge of 1.35% and a policy administration charge of 0.05% per month.
  • The fund will invest in a diversified portfolio of 30 to 40 mid-cap stocks across sectors and industries.

Dhanlaxmi Bank independent director Sridhar Kalyanasundaram resigns from board:

  • In his resignation letter, Kalyanasundaram has raised issues like factionalism in the board, his differences regarding rights issue and the alleged ‘lack of in depth banking knowledge’ in other members.
  • The former independent director also raised the “probity and lack of consensus” on the various whistle-blower issues, as a reason of resignation.

Yes Bank And BriskPe Partner To Enable Seamless Cross-Border Payments For MSMEs:

  • In a collaboration, BriskPe, a pioneering cross-border payments FinTech company, has teamed up with YES BANK to introduce “BriskPe A2A,” a cutting-edge suite of solutions designed to empower exporters and importers.
  • This strategic partnership marks a significant milestone in the realm of cross-border payments, offering a seamless and efficient platform for Indian businesses to navigate the complexities of international trade and bolster their global competitiveness.