New Student Offer - HELLO

Join Here

Banking and Financial Awareness April 2020: Week I

Published on Friday, April 10, 2020
Banking and Financial Awareness April 2020: Week I

SBI lists USD 100 million Green Bonds on India INX

  • The State Bank of India has listed green bonds of USD 100 million (about Rs. 750 crores) on BSE's India International Exchange (India INX) debt listing platform.
  • The bank has done this under its USD 10 billion global medium-term note program on the Global Securities Market Green Platform (GSM) of India INX.
  • Earlier also, the bank listed its maiden green bond of USD 650 million on India INX.

IIM-B & ICICI Securities launch Program for Fintech Startups

  • ICICI Securities (I-Sec) has partnered with IIM Bangalore's startup hub N S Raghavan Centre of Entrepreneurial Learning (NSRCEL) to support startups in the fintech space through a program.
  • This partnership has been done as a part of its CSR initiative.
  • ICICI Securities (I-Sec) is the broking and investment banking arm of ICICI Bank.
  • The duration of this structured program to support fintech startups will be 15 months.
  • The program will be for startups working in fields like insurance, banking, payments, personal finance, wealth advisory, trading, etc.

PNB Housing Finance signs pact with JICA to raise $75 million

  • PNB Housing Finance has signed an agreement with Japan International Cooperation Agency (JICA) in order to raise $75 million which is equal to about Rs 568 crores.
  • It will also have a co-financing of 25 million dollars (about Rs 190 crore) by Citibank.
  • The agreement has been signed to finance mortgage loans in the affordable housing segment.
  • This is the first debt funding of JICA in the Indian housing finance sector.

Airtel Payments Bank will offer COVID-19 Insurance Policy

  • Airtel Payments Bank has partnered with Bharti AXA General Insurance to launch an insurance policy for protection against COVID-19.
  • Through this partnership, two different health insurance plans will be offered to savings bank account customers of Airtel Payments Bank who are not suffering from COVID-19 or its symptoms.
  • These two insurance plans are- Bharti AXA Group Health Assure and Group Hospital Cash.
  • Bharti AXA Group Health Assure will provide a lump sum benefit of Rs 25,000 to the customers.
  • Group Hospital Cash will offer a fixed day allowance starting from Rs 500 per day on hospitalization.

SIDBI to provide Emergency Working Capital to MSMEs

  • The Small Industries Development Bank of India (SIDBI) will provide emergency working capital of up to 1 crores to MSMEs.
  • This emergency fund will be provided to fight against coronavirus and will be termed as a SAFE plus.
  • These SAFE PLUS loans will be offered collateral-free and will be disbursed within 48 hours.

India's fiscal deficit may reach to 6.2% of GDP in FY21

  • According to Fitch Solutions, India's fiscal deficit in 2020-21 may reach to 6.2 percent of the GDP from the government estimate of 3.5 percent.
  • It also estimated that receipts may contract by 1 percent from a growth of 11.8 percent previously due to a decrease in revenue collection.

RBI increases WMA limit of States, UTs by 30%

  • The Reserve Bank of India has increased the Ways and Means Advances (WMA) limit for state governments and Union Territories by 30 percent till September 30.
  • The bank has also provided an extra time of 6 months to the exporters to realize their export proceeds.

PhonePe launches "Corona Care"

  • PhonePe has launched a unique coronavirus hospitalization insurance policy called "Corona Care" in partnership with Bajaj Allianz General Insurance.
  • This policy will provide an insurance cover of Rs 50,000 for a person aged less than 55 years at a price of Rs 156.
  • It will also cover expenses related to pre-hospitalization costs and post-care medical treatment for 30 days.
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu