RBI board finalises ‘Utkarsh 2022
·
The Reserve Bank of India (RBI) board, which met in New Delhi, finalised a three-
year roadmap to improve regulation and supervision, among other functions of the central bank.
·
This medium term strategy — named Utkarsh 2022 — is in line with the global
central banks’ plan to strengthen the regulatory and supervisory mechanism, sources aware of the board
meeting told
The
Hindu.
ADB cuts India’s
GDP
growth
forecast
to 7% for this year
·
Asian Development Bank lowered India’s GDP growth
forecast to
7% for the current year on the
back of fiscal shortfall concerns.
·
“India
is expected to grow by 7% in 2019 (FY20) and 7.2% in 2020 (FY21), slightly slower
than projected in April because the
fiscal 2018 outturn fell short,”
ADB said in its
supplement to the Asian Development Outlook 2019.
RBI slaps Rs 7 crore fine on SBI
for
non-compliance of directions
·
The Reserve Bank of India (RBI) has levied a penalty of Rs 7 crore on State Bank of
India (SBI) based on findings of an inspection report. The regulatory
lapses relate to bad
loans classification, fraud
risk management and reporting of
frauds.
Corporation Bank pact
with Bajaj Allianz
·
Corporation Bank has
entered into
a memorandum of understanding (MoU) with Bajaj
Allianz General
Insurance Co Ltd for providing insurance cover for accidental death to the specified saving bank account holders of the bank under the group personal accident
insurance policy of the insurer.
·
A press release
by the bank
said here
that
Murala Paul Kennedy, General Manager,Corporation Bank, and TA
Ramalingam, Senior President,
Bajaj Allianz
General Insurance Co Ltd, inked the pact recently.
Asian Development
Bank
sanctions Rs 1,925 cr power project in Tripura
·
Asian Development Bank (ADB)
sanctioned a Rs
1,925 crore project
for up-gradation of power generation and distribution
in Tripura, Deputy Chief
Minister Jishnu
Dev Varma.
·
The amount
was recently sanctioned
to the Tripura State Electricity Corporation Limited (TSECL) after
the
state government
had sought the ADB’s assistance, Dev
Varma who is also the power
minister.
Fairfax-backed CSB Bank set
to file for up to ₹500
crore share sale
·
Kerala-based private lender CSB Bank, earlier known as The Catholic Syrian Bank Ltd,
is set to file its draft initial public offering (IPO) papers, said two people aware
of the
development.
·
Last year, Canadian billionaire Prem Watsa’s Fairfax acquired a 51% stake in CSB
Bank for around $168 million, following the Reserve Bank of India’s (RBI) first such
approval given to a
foreign firm.
CapitaLand completes $8
bn
acquisition of Ascendas-Singbridge
·
Singapore-based investor CapitaLand Ltd on Sunday said it has completed the purchase of Temasek Holdings-owned
Ascendas-Singbridge Pte. Ltd.
·
The deal creates one of Asia’s largest diversified
real estate groups with over S$123
billion
of assets under management
(AUM).
Fairfax-backed CSB Bank set
to file for up to ₹500
crore share sale
·
Kerala-based private lender CSB Bank, earlier known as The Catholic Syrian Bank Ltd,
is set to file its draft initial public offering (IPO) papers, said two people aware of the development.
·
Last year, Canadian billionaire Prem Watsa’s Fairfax acquired a 51% stake in CSB
Bank for around $168 million, following the Reserve Bank of India’s (RBI) first such
approval given to a
foreign firm.
INDIAN AFFAIRS
Aparna Kumar created history by becoming the first civil servant and IPS officer to achieve the
7 Summits challenge
·
Aparna Kumar created history by becoming the first civil servant and IPS officer to
achieve the incredible and
rare feat of completing
‘7 Summits’ challenge’.
·
Kumar hoisted
India’s tricolour on Mount Denali in Alaska, USA. Mount Denali is the highest peak of North America standing at 20,310 ft. She scaled the summit in her third
attempt.
Cabinet
approves Code on Wages bill
·
The Union Cabinet
Wednesday approved the Code on Wages Bill which seeks to
subsume existing
laws related to workers remuneration and enable the Centre to fix
minimum
wages for
the entire country.
·
The Code on Wages is one of the four codes that would subsume 44 labour laws with certain amendments to improve the
ease of doing business and attract investment for spurring
growth.
·
The four
codes will deal with wages, social
security, industrial safety and welfare, and industrial relations.
PM Narendra Modi
releases book on Former PM Chandra Shekhar
· PM Narendra Modi released the book “Chandra Shekhar – The Last Icon of Ideological Politics”;. The book has been written by Shri Harivansh, Deputy
Chairman, Rajya Sabha, and Shri Ravi Dutt Bajpai.
· The
book release eats the Balayogi Auditorium, Parliament Library Building. The Prime Minister presented the first copy of the book to the Vice President of
India, Shri Venkaiah Naidu.
