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Banking Current Affairs 28th Sep 2023

Daily Current Affairs: 28th Sep 2023 for SSC CGL, State SSC, RRB, Railways, Banking Exam IBPS, etc. Most relevant and updated Current Affairs for all Banking Exams with Our Moto : One Destination for Complete Exam Preparation

Moody’s Investors Service Raises Red Flags Against Aadhaar

  • Moody’s Investors Service, a global rating major, has expressed doubts about the reliability of India’s Aadhaar, a 12-digit universal identity system.
  • The concerns revolve around the use of biometric technologies, particularly in hot and humid climates, and the resulting service disruptions.
  • Moody’s highlights challenges related to authentication and biometric reliability.

RBI Imposes Monetary Penalty On State Bank Of India, Indian Bank, Punjab & Sind Bank:

  • The Reserve Bank of India (RBI) has imposed penalties on three prominent state-owned banks, State Bank of India (SBI), Indian Bank and Punjab & Sind Bank, for their non-compliance with various regulatory norms.
  • These penalties serve as a stern reminder of the importance of adherence to banking regulations and directives issued by the RBI.

Indian Banks Attracting Increasing Global Investment: S&P Global Report:

  • S&P Global Market Intelligence has released a report indicating that Indian banks are becoming more appealing to global investors seeking higher returns.
  • Factors such as robust credit growth, improved margins, and stable asset quality have enhanced the outlook for these financial institutions.

Re-Appointment of Sandeep Bakshi as ICICI Bank MD & CEO Receives RBI Approval:

  • ICICI Bank, the country’s second-largest private sector bank, has announced that it has received approval from the Reserve Bank of India (RBI) for the re-appointment of Sandeep Bakhshi as the Managing Director and Chief Executive Officer (MD and CEO) of the bank.

RBI likely to launch digital rupee pilot for interbank transactions by October: Report

  • The Reserve Bank of India (RBI) is gearing up to launch a pilot program for the Central Bank Digital Currency (CBDC), commonly referred to as the Digital Rupee.
  • This initiative is expected to facilitate interbank transactions, specifically in the call money market, and is set to kick off around October

SBI Card Launches ‘SimplySAVE Merchant SBI Card’ To Provide MSMEs With Short-Term Credit:

  • SBI Card, India’s largest pure-play credit card issuer, has introduced the ‘SimplySAVE Merchant SBI Card‘, a specialized credit card tailored for micro, small, and medium enterprises (MSMEs).
  • This new card is designed to address the short-term credit needs of MSME merchants while providing them with a range of exclusive benefits.
  • The official unveiling of the SimplySAVE Merchant SBI Card took place at the Global Fintech Fest in Mumbai, with Mr. Dinesh Khara, Chairman of State Bank of India, doing the honors

RBI cancels licence of Mumbai-based The Kapol Co-operative Bank:

  • The cooperative bank has been prohibited from conducting the business of ‘banking’.
  • The Ministry of Cooperation has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

SEBI approach to proactively plan for the same during its 202nd Board Meeting held on September 21, 2023 in Mumbai, Maharashtra. SEBI also approved the Various proposals:

  • Flexibility in the framework for Large Corporates (LCs) for meeting incremental financing needs through issuance of debt securities
  • SEBI extends timeline for compliance with enhanced qualification and experience requirements for Investment Advisers
  • Streamline the Framework for credit of unclaimed amounts of investors in listed entities other than companies, REITS and InvITs to IPEF

ADB Appoints Bhargav Dasgupta as Vice-President for Market Solutions:

  • ADB appoints Bhargav Dasgupta as Vice-President for market solutions for a period of 3 years