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Banking Current Affairs : 30th April 2024

Today’s Current Affairs: 30th Apr 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

RBI proposes tighter norms for LSPs offering multiple loan products:

  • The Reserve Bank of India has issued a draft circular proposing the framework for aggregation of loan products by lending service providers (LSPs) to ensure complete transparency for borrowers in the credit intermediation process.

FPI limit in G-sec unchanged at 6% of outstanding stocks of securities: RBI

  • RBI kept the investment limit by Foreign Portfolio Investors in government securities unchanged at 6 percent of the outstanding securities stocks for 2024-25. Moreover, the central bank, in a statement, announced that it would maintain the FPI limits for investment in state government securities and corporate bonds at 2% and 15%, respectively, of the outstanding securities.

Deloitte India pegs FY25 GDP growth at 6.6%, raises FY24 prediction:

  • Consultancy major Deloitte raised its India GDP growth forecast for FY24 to 7.6-7.8% from its earlier forecast of 6.9-7.2%, anticipating higher consumption expenditure and economic activity.
  • The company said it expects India’s GDP growth to be around 6.6% in FY25 and 6.75% in FY26.

IREDA Granted Prestigious ‘Navratna’ Status by Government:

  • The Indian Renewable Energy Development Agency (IREDA), a public sector enterprise, has been granted the coveted ‘Navratna’ status by the government, according to a recent filing with the stock exchanges.

Commercial Paper Issuances Surge to Four-Year High:

  • The Reserve Bank of India’s decision to increase risk weights on bank loans to higher-rated non-banking financial companies (NBFCs) has led to a significant uptick in quarterly commercial paper (CP) issuances.

RBI Guidelines for SFBs Transitioning to Universal Banks:

  • The Reserve Bank of India (RBI) has issued guidelines for Small Finance Banks (SFBs) seeking to transition into Universal Banks, providing a pathway for conversion. This voluntary conversion is subject to specific criteria laid out by the RBI.

Hitachi Payment Services has unveiled new upgradable ATMs in India,:

  • Hitachi Payment Services has unveiled new upgradable ATMs in India, allowing banks to adapt their machines into Cash Recycling Machines (CRMs) as per evolving needs.
  • Manufactured under the ‘Make in India’ initiative, these ATMs offer flexibility and efficiency to banks, potentially revolutionizing the Indian ATM industry.

RBI’s Guidelines for Voluntary Transition of Small Finance Banks to Universal Banks:

  • The Reserve Bank of India (RBI) has issued comprehensive guidelines outlining the voluntary transition path for Small Finance Banks (SFBs) seeking to become Universal Banks.
  • These guidelines set specific eligibility criteria and procedural requirements for such a transition, aiming to ensure financial stability and operational effectiveness in the banking sector.

IREDA & HUDCO granted ‘Navratna status’ by Department Of Public Enterprises:

  • The Department of Public Enterprises (DPE), Ministry of Finance has granted Navratna status to Indian Renewable Energy Development Agency Ltd (IREDA).
  • The Department of Public Enterprises (DPE) has also granted the Navratna Status to Housing and Urban Development Corporation Limited (HUDCO).

More than 27% of identified Glacial Lakes in Himalayas Expanded since 1984: ISRO

  • The Indian Space Research Organisation (ISRO)’s long-term satellite imagery covering the catchments of Indian Himalayan river basins from 1984 to 2023 shows that more than 27% of the identified glacial lakes in the Himalayas have expanded since 1984.

SEBI allows AIFs to Pledge Equity Shares of Investee Companies in Infrastructure Sector

  • Securities and Exchange Board of India (SEBI) has notified a framework for Category I and Category II Alternative Investment Funds (AIFs) in the infrastructure sector to raise debt by pledging the equity of their investee companies.

ADB Pledged USD23.6 billion in 2023 to Help Asia and Pacific Progress on Sustainable Development:

  • Asian Development Bank(ADB) pledged USD 23.6 billion from its own resources in 2023 which also include USD 9.8 billion for climate action, to help Asia and Pacific progress on sustainable development.

HDFC Life Enters into a Corporate Agency Tie-Up with Peerless Financial Products Distribution Ltd:

  • HDFC Life, one of India’s leading insurers, and Peerless Financial Products Distribution Ltd. (PFPDL) join hands in a corporate agency tie-up. This partnership would enable PFPDL to distribute HDFC Life’s life insurance products to its customers.