RBI shortlisted 5 IT firms for implementation of Centralised information and Management System (CIMS)
- For improving data collection practices and overall validation processes.
- RBI has decided to overhaul its entire Data Warehouse and implement a new CIMS, thereby increasing the efficiency of its data management systems.
- For support with this transition, the bank called for expressions of interest (EOI) from the IT consulting space in July this year.
- The new CIMS will not only consist of a new Data Warehouse but will also include what the bank terms as a Data Lake.
- RBI’s Data Lake will also include mechanisms to review and validate data through a system-to-system interface, while the storage of this data is expected to become more flexible.
- vendors are:
- Capgemini Technology Services India,
- IBM India,
- Larsen & Toubro Infotech
- Tata Consultancy Services
India-South Asia trade has the potential to triple to $62 billion: World Bank report
- Actual trade amount of $19 billion with South Asia and $2 billion with Pakistan.
- By Deeper regional trade and connectivity and access to South Asian regions, substituting fossil fuels by cleaner hydropower from Nepal and Bhutan, addressing mutual trust deficits, Nontariff barriers and Liberalization This could be improved.
- World Bank:
- President: Jim Yong Kim
- Headquarters: Washington, D.C., United States
- CEO: Kristalina Georgieva
- Membership: 189 countries (IBRD); 173 countries (IDA)
YES Bank partnered with RupeeBoss.com for integration of YES mPower BOT
- For supporting instant loan eligibilities for its several loan products.
- Through this partnership, Yes Bank will be able to provide its loan applicants with instant information without needing to know all the details about the customer, by authorising RupeeBoss’s expansive agent’s network, thereby speeding up the pace of sourcing customers.
- mPower BOT integration is across digital platforms and shall be available for use across platforms like the online portal RupeeBoss.com, Magic Finmart, RupeeBoss and RupeeBoss Business Associate app.
- YES Bank:
- Headquarters: Mumbai
- CEO: Rana Kapoor
- Tagline: Experience our Expertise.
RBI eased cash reserve rules to allow banks to get increased liquidity from statutory liquidity ratio (SLR)
- Increased the “Facility to Avail Liquidity for Liquidity Coverage Ratio (FALLCR)” from the existing 11 per cent to 13 per cent of their deposits.
- Effective from October 1.
- Also, enable the banks to forge out up to 15 per cent of holdings under the statutory liquidity reserves (SLR) during liquidity coverage ratio (LCR) requirements as compared to 13 per cent now.
- It will meet the durable liquidity requirements of the system through various available instruments.
ADB approved $500 mn for Tamil Nadu
- For a multi-tranche financing facility (MFF) that will develop climate-resilient water supply, sewerage, and drainage infrastructure in at least 10 cities.
- It will help address complex urban challenges through innovative and climate-resilient investment and deeper institutional support.
- First tranche of the program amounts to $169 million will target the cities of Chennai, Coimbatore, Rajapalayam, Tiruchirappalli, Tirunelveli, and Vellore.
- Second one would be a $2 million grant from the Asian Clean Energy Fund, established by the Government of Japan, to fund the solar energy pilot project.
- Asian Development Bank –
- Headquarters: Mandaluyong, Philippines
- Founded: 19 December 1966
- Membership: 67 countries
ADB approves US $150 million loan for establishing first multi-skills park in Madhya Pradesh
- Skills park will be equipped with international training facilities to enhance the quality of Madhya Pradesh’s technical and vocational education and training (TVET) system.
- This will create more skilled workforce that meets the labour market needs of the state.
- Also, open up opportunities to the men and women of Madhya Pradesh to gain high-level skills that increase their employability and capacity to contribute to growth.
- Global Skills Park (GSP) campus will be established in Bhopal.
- Skills Development Project of Madhya Pradesh will also help in modernizing 10 industrial training institutes across the state according to industry and market needs.
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