RBI injected Rs 12,000 crore liquidity via OMO
- on November 15 RBI inject Rs 12,000 crore into the system through purchase of government securities.
- eligible participants submit their offers in electronic format on Core Banking Solution (E-Kuber) system.
- government dated securities maturing in 2021, 2022, 2024, 2027 and 2033 bearing various interest rates would be purchased by RBI.
- minimum amount of stocks was of Rs. 10,000/- (nominal) and in multiples of Rs. 10,000/- thereafter.
- Reserve Bank of India
- Founded: 1st April 1935.
- Headquarters: Mumbai.
- 24th Governor: Dr. Urjit Patel.
RBI imposed fine of Rs 3 crore each on Deutsche Bank, J&K Bank
- Penalty imposed on Deutsche Bank for
- non-compliance on Income Recognition and Asset Classification (IRAC) norms,
- Know Your Customer/Anti-money Laundering (KYC/AML) norms,
- disclosure of monetary penalties imposed by the regulator.
- Also, fined on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.
- Deutsche Bank:
- Headquarters: Frankfurt, Germany.
- Jammu and Kashmir Bank Ltd:
- Headquarters: Srinagar, J&K.
Induslnd Bank launches India’s first interactive credit card named ‘Nexxt Credit Card’
- customers have a choice of payment options such as EMI, Reward Points or Credit at the push of a button at the point of sale in this card.
- The card has been created in partnership with Dynamics Inc, headquartered in Pittsburgh USA.
- also comes with the exclusive Nexxt Reward Points, which further add to the bouquet of customer benefits.
- Features:
- payment choice with the three options by using LED lights associated
- customer needs not to fill any form, Call Bank or visit the bank’s website.
- IndusInd Bank
- Headquarters: Mumbai
- CEO: Romesh Sobti
Government of India and ADB signed $300 Million Loan
- to support lending by India Infrastructure Finance Company Limited (IIFCL).
- the Project will enhance availability of long-term finance for PPP projects, improve operational capacity, and expand the portfolio of infrastructure financing instruments available to IIFCL.
- Also, it will help prepare for the financial closing of $2.4 billion in investments.
Government of India and ADB signed $105 Million Loan
- to Support Hydropower Transmission in Himachal Pradesh, for increased supply of hydropower to the state and the national grid.
- It will help Government of Himachal Pradesh to benefit electricity consumers in the state and throughout northern India.
- It will have 25-year term, including grace period of 5 years.
- ADB (Asian Development Bank):
- Headquarters: Manila, Philippines.
- President: Takehiko Nakao.
- Established in 1966.Members: 67 (48 regional members).
Sunil Mehta committee incorporated ‘Sashakt India AMC’ for large NPAs over 500 crore rupees
- for resolving large bad loans, an asset management company(AMC) has been formed and will be called as Sashakt India Asset Management.
- panel is now working towards identifying potential investors for an alternate investment fund (AIF) which will fund the AMC.
- Also the committee engaged with private sector banks to become the potential investors in the AIF.
- For this resolution an inter creditor agreement (ICA)has been made with 33 banks.
