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Banking Current Affairs : 29th Dec 2023

Today’s Current Affairs: 29th Dec 2023 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

Reserve Bank of India approves IDFC-IDFC First Bank merger:

  • Reserve Bank of India has given its nod for the reverse merger of IDFC Ltd with its banking subsidiary IDFC First Bank.
  • IDFC First Bank and IDFC boards approved the reverse merger in July.

RBI approves appointment of C S Rajan as part-time chairman of Kotak Mahindra Bank:

  • Kotak Mahindra Bank said the Reserve Bank of India (RBI) has approved the appointment of C S Rajan, Independent Director of the bank, as the Part-time Chairman, for two years, effective January 1, 2024.

Life Insurers’ Premium Income Rises Nearly 13% To Rs 7.83 Lakh Crore In FY23:

  • Premium income of life insurance companies grew 12.98% to Rs 7.83 lakh cr. in fiscal 2023 while that of general insurers increased by 16.4% to Rs 2.57 lakh cr.

RBI permits lending, and borrowing in government securities except T-Bills:

  • The RBI said G-Secs issued by the Central government excluding Treasury Bills will be eligible for lending/borrowing under a Government Security Lending (GSL) transaction.

Union Cabinet Nod For Migration, Mobility Pact With Italy Inked In November:

  • The Union Cabinet granted ex-post facto approval to sign and ratify the Migration and Mobility Agreement with Italy that allows Indian students temporary residence in the European nation for up to one year after studies to gather professional experience.

Jal Jeevan Mission Status:

  • Under the Jal Jeevan Mission, approximately 72% of rural households now have access to tap water connections, according to official data.
  • In 2024, the Jal Shakti ministry faces the crucial target of achieving 100% coverage of tap water connection to every rural household a commitment made by Prime Minister Narendra Modi in 2019.

SEBI Extends Deadline To June 2024 To Add Nominees In Mutual Funds, Demat Accounts:

  • Markets regulator Securities and Exchange Board of India extended the deadline to June 30 next year for demat & mutual fund account holders to provide a nomination.
  • Earlier, the deadline to nominate a beneficiary or opt out of it by submitting a declaration form was Dec. 31, 2023.

LIC to open branch office in GIFT City:

  • Life Insurance Corporation (LIC) has decided to open a branch office at GIFT City, the country’s sole operational International Financial Services Centre.
  • Already LIC has a presence in 14 countries through branch offices, subsidiaries, and joint ventures.

Central Bank of India enters into a co-lending partnership with Kisetsu Saison Finance for MSME loans:

  • Public sector lender Central Bank of India entered into a strategic co-lending partnership with Kisetsu Saison Finance, India for MSME Loans.