Mauritius’s SBM (State Bank of Mauritius) gets RBI approval for subsidiary

To operate in the country through a wholly-owned subsidiary route.
After local incorporation was introduced in 2013, this is the first foreign lender to receive such a licence.
In India, the subsidiary of SBM Group is under the name of SBM Bank (India) Ltd.
Start Operate in India in 1994.
Currently, it has four branches, in Mumbai, Chennai, Hyderabad and Ramachandrapuram.
Expand its six new branches in Delhi, Bangalore, Kolkata, Pune, Ahmedabad and Jaipur by next year.
State Bank of Mauritius
- CEO: Raj Dussoye
- Headquarters: Port Louis, Mauritius
- Founded: 1973

Indian Bank revises interest rates on FCNR(B) (foreign currency non-resident (banking) deposits)

Account can be maintained by NRIs and PIOs in foreign currency. this is a Fixed Deposit Foreign Currency account.
1 year and above but less than 2 years (in US Dollar terms) to 3.68 % from 3.59 %.
2 years and above, but less than 3 years to 3.88 % from 3.77 %
3 years and above but less than 4 years to 3.97 % from 3.89 %
4 years and above but less than 5 years to 3.99 % from 3.92 %
up to 5 years to 4 % from 3.93 %.
Indian Bank
- Headquarters: Chennai
- CEO: Kishor Kharat
- Tagline: your tech-friendly bank

Fino Payments Bank has been alleged to have violated the norms related to the deposit limit which is as per RBI’s operating guidelines up to ₹1 lakh per account in a year.
Due to this, it was asked to immediately stop enrolling new customers until it takes corrective actions.
Fino Payments Bank
- Founded: 4 April 2017
- Parent organization: FINO PayTech
- Headquarter: Mumbai

Now it becomes among India's 10 most valuable banks, sixth most valuable private sector bank and seventh most valued listed lender, with a market cap of Rs 55,596.64 crore.
It mainly focuses on under-banked and under-penetrated regions in eastern India and has a strong network in states like West Bengal, Assam, and Bihar.
It was registered as a non-banking financial company providing select banking services in 2009 and received the universal banking license in 2015.
Bandhan Bank
- Headquarters: Kolkata
- CEO: Chandra Shekhar Ghosh

It is for 10 years with 3 years of moratorium on repayments after that repayment will be done in 14 equal half yearly instalments.
lent at the rate of one month MCLR.
The largest amount of loan to have been sanctioned to NHAI in one stroke by any institution also largest long term unsecured loan sanctioned by SBI at a time to any entity.
Loan tenure is 10 years and NHAI can repay or prepay it at any time without any prepayment penalty.

The 6-member meeting of the Monetary Policy Committee headed by Governor Dr. Urjit Patel.

Policy rates	3rd bimonthly in August 1,2018
Repo Rate	6.50%
Reverse Repo Rate	6.25%
Marginal Standing Facility (MSF)	6.75%
Bank Rate	6.75%
Cash Reserve Ratio (CRR)	4%
Statutory Liquidity Ratio (SLR)	19.5%

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