As per the committee's report, it has been decided to increase the ways and means limit by 30% from the existing threshold for all states/UTs. Chairman: Sunil Mehta ♦ Under the Structured Finance and Partial Guarantee Programme, NABARD will provide partial guarantee on pooled loans extended to small and mid-sized Microfinance Institutions (MFIs). (i) amalgamation of Oriental Bank of Commerce (OBC) and United Bank of India into Punjab National Bank (PNB) ♦ With this introduction, the NGTA will be a web-based application providing scalability, maneuverability and flexibility to introduce new products and securities along with multi-currency transactions and settlements. Moody's Corporation owns a 50.06% majority stake, as of 2014. The move aimed to create bigger size stronger banks in the public sector. The cap will be in effect till 3 April. The main aim behind the move was to tackle the economic growth slowdown. The scheme will provide recapitalization support of Rs.2,200 crore to 40 RRBs. ♦ The project plans to develop a road safety audit framework in order to develop vulnerable groups such as the elderly, women, and children. ♦ The group will examine whether a separate mechanism for funding of defence and internal security is necessary. Secretary (Expenditure), Ministry of Finance. "Interim Economic Projections for 2020 and 2021." Headquarters: Kolkata, West Bengal ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific and works to sustain its efforts to eradicate extreme poverty. The move by RBI will enable exporters to realize their receipts within the extended period. On 31 March 2017, Rashtriya Gramin Vikas Nidhi (RVGN) (North East) Microfinance Limited received the Small Finance Bank License from the Reserve Bank of India (RBI). Through our research, roundtables, and other forms of engagement, we seek to be a trusted source for relevant, timely, and reliable insights. It also said that EMIs on car loans would also be reduced by Rs.5 per 1 lakh on a seven-year loan. ♦ The support extended to MFs under the Special Liquidity Facility for Mutual Funds (SLF-MF) shall be exempted from banks' capital market exposure limits. Accessed June 12, 2020. This will facilitate funds flow to small and mid-sized corporates, including NBFCs and MFIs, who have been more severely impacted by the disruptions due to COVID-19. The Deloitte Center for Financial Services, which supports the organization's US Financial Services practice, provides insight and research to assist senior-level decision-makers within banks, capital markets firms, investment managers, insurance carriers, and real estate organizations. Find the latest economic news, current events and headlines, as well as blogs and video from CNBC.com. The Bank has not complied with the licensing condition on dilution yet. As President John F. Kennedy once said, "The time to repair the roof is when the sun is shining.". Your financial plan should consist of two parts. Chairman: Dr. Anup Kumar Sinha Covid - 19's Adverse Effect on REPO Points This is the second time the lender is announcing the rate cut in its fixed deposit (FD) interest rates. You can't foresee births, deaths and divorces. The aim is to pump up liquidity in the financial system. The announcement was made by RBI Governor Shaktikanta Das. This plan launched to ensure continuity of critical services like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), e-Kuber for government transactions, and so on. ♦ It will help facilitate Rs.2,500 crore funding in the initial phase and is expected to be scaled up in the future. It will also provide greater flexibility to exporters to negotiate future contracts with buyers abroad. 3) RBI cancelled the counter-cyclical capital buffer for banks for a period of one year. But you need to be prepared for all of those. Group on Defence and Internal Security: However, research topics still need to do enough research and gather a lot of data and facts from reliable sources in … NEFT You are entitled to a free copy once every 12 months from each of the three major national credit bureaus. Securities' purchases inject money into the banking system and stimulate growth, while sales of securities do the opposite and contract the economy. To launch the programme, NABARD has signed agreements with Vivriti Capital and Ujjivan Small Finance Bank. ♦ ADB approved a $1.5 billion COVID-19 Active Response and Expenditure Support (CARES) programme. Realtime quote and/or trade prices are not sourced from all markets. SBI also reduced FD rates by 15 bps for deposits with tenors of 180 days and above. Highlights: Please see www.deloitte.com/about to learn more about our global network of member firms. Also, OBC chief executive Mukesh Kumar Jain, who is now in PNB will be retiring in July. ♦ It also announced a scheme of social support measures amounting to $25 Billion to alleviate the hardship of the poor and the vulnerable and provided insurance cover of $67,000 per person to over 2.2 million frontline health workers. Bank of Baroda is a government-owned International banking and financial services company. This spells out your goals, time frame, risk tolerance and investments for reaching those goals. It had reduced the interest rates applicable to retail term deposit by 10 bps for maturities of one year and above, and by 50 bps for the rates up to 45 days. As per RBI's move, the tenure or time period of the loans will be increased by 3 months. Measures: The disbursement to RRBs and Co-operative banks is the part of Rs.25,000 crore of special refinance plan which was approved by the Reserve Bank of India (RBI) to RRBs, Co-operative banks and Microfinance Institutions (MFIs). ♦ Any bank that meets with the liquidity requirements of mutual funds by extending loans and undertaking outright purchase or repos against the collateral of investment-grade corporate bonds, commercial papers, debentures and certificates of deposit held by mutual funds will be eligible to claim all regulatory benefits. And you can't predict stock market swoons or huge rallies. ♦ The judgment stated that cooperative banks were bound by the provisions of the Banking Regulation Act, 1949, and all the other legislation applicable to banks under the RBI Act. "This helps you prioritize your goals. State-owned lender Bank of Baroda (BoB) and Union Bank of India (UBI) has lowered their lending rates by 5-10 basis points (bps). This scheme would be open until 30 September 2020. Sarfaesi Act: NIIF FOF: Trending Financial Investment based Thesis Topics in 2020. ♦ It will raise alerts with exchanges if diversion of clients' securities is noticed. ADB aims to promote social and economic development in Asia. In case of 'uniform price' auctions, all successful bidders pay the same price that is the cut-off price at which the market clears the issue. The Union Cabinet led by Prime Minister Narendra Modi approved the consolidation of ten Public Sector Banks (PSBs) into four. 2020 Top Trends for Financial Services to Kick Off the Next Decade January 30, 2020 by Stefani Wendel It may be a new decade of disruption, but one thing remains constant – … ♦ RBI is to conduct LTRO in multiple tranches of appropriate sizes up to a total amount of Rs.1 lakh crore at the policy repo rate. 5) RBI has decided that the payment moratorium period for the Non-Performing Assets (NPAs), which lending institutions have been permitted to grant as per RBI's announcement on 27 March 2020, will not be considered while classifying assets as NPAs. Futures Tilt Higher; Tesla, Align Among Key Earnings Movers, make a living will and advance medical directive. The RBI Governor claimed that this is the worst health and economic crisis of the last 100 years with unparalleled negative impacts on employment, production, and well-being. Hence, larger corporates and mid-cap companies prefer RTGS for bulk payments such as salary credits to employees and vendor payment.

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