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