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.

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 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 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.

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.

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.

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 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.

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