Banking and Financial Awareness December 2018: Week IV

Banking and Financial Awareness December 2018: Week IV

RBI shortlists Six Companies for setting up Public Credit Registry

  • The Reserve Bank of India has shortlisted six major IT companies to set up a wide-based digital Public Credit Registry (PCR) for capturing details of all borrowers and wilful defaulters. 
  • These companies are: TCS, Wipro, IBM India, Capgemini Technology Services India, Dun & Bradstreet Information Services India, and Mindtree 

Paisabazaar.com, Karnataka Bank in partnership to offer home loan products

  • Paisabazaar.com, online marketplace for financial products and Karnataka Bank have announced a partnership to offer the bank’s home loan product to customers on the Paisabazaar platform. 
  • This partnership will allow consumers to choose and apply for a home loan from Karnataka Bank, directly through the Paisabazaar platform. 

RBI limits total outstanding ECBs to 6.5 pc of GDP

  • The Reserve Bank of India (RBI) has decided to put a cap for funds raised via external commercial borrowing (ECB) at 6.5% of the country’s GDP. 
  • ECBs refer to commercial loans in the form of bank loans, securitised instruments buyers’ credit, suppliers’ credit availed of from non-resident lenders with a minimum average maturity of three years. 

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