Banking and Financial Awareness November 2018: 3rd week

November 19, 2018 Share Like Labels: bet

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.

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

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.

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).

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.

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