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IMPORTANT BANKING Current Affairs 2017

Latest Appointments in Banking Sector –

Deputy Governor of Reserve Bank of India – B P Kanungo (He has been appointed in place of R Gandhi)
LIC Managing Director - Hemant Bhargava
LIC Housing Finance new MD & CEO - Vinay Shah
Principal Economic Adviser - Sanjeev Sanyal (former MD of Deutsche Bank)
National Stock Exchange (NSE) new CEO and Managing Director - Vikram Limaye (former IDFC chief)
India Post Payments Bank (IPPB) interim Managing Director and CEO - AP Singh
Karnataka Bank Ltd new MD and CEO - Mahabaleshwara Mavinakudige Subrahmanya
April Banking Current Affairs 2017

YES BANK has won the prestigious ‘Golden Peacock Innovative Product/ Service Award 2017’ (in Financial sector Banking) for its innovative mobile technology product SIMsePAY.
e-SOT and e-PRAN card launched for Atal Pension Yojana subscribers.
India’s economy will grow by 7.2% in 2017-18, predicts World Bank
The International Monetary Fund (IMF) projected a growth for the world economy at 3.5 per cent in 2017.
Finance Ministry approves 8.65% interest rate on EPF
The Reserve Bank of India has set up two new Offices of the Banking Ombudsman for the State of Jammu and Kashmir (in Jammu) and Chhattisgarh (in Raipur).
The ICICI Bank Data Centre in Hyderabad has achieved the distinction of becoming the country's first Platinum rated project under IGBC (Indian Green Building Council) Green Data Centre Rating System.
SBI surpassed ONGC to become most valued PSU stock in terms of market capitalization.
RBI signed MoU with the Royal Monetary Authority of Bhutan
SBI Card launched a unique credit card ‘SBI Card Unnati’, any SBI customer with a balance of at least Rs 25,000 in his/her savings account with the bank would be eligible for the Unnati credit card without the need for any credit score or credit history.

March Banking Current Affairs 2017

Goods and services tax (GST) is set to be rolled out from July 1, 2017
All branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) will function as branches of State Bank of India from April 1, 2017.
Bharatiya Mahila Bank to be merged with SBI
ICICI Bank launches a new mobile app 'Mera iMobile' for rural customers
As per RBI data, ICICI Bank topped the list of banks that witnessed most number of frauds, SBI taking the second spot.
Non-Banking Finance Companies (NBFCs) cannot lend more than Rs.25,000 in cash against gold according to RBI.
SBI recently announced that penalty for non-maintenance of Minimum Average Balance (MAB) from April 1, 2017.
Axis, HDFC, ICICI to charge Rs. 150 after 4 cash transactions
Global rating agency Fitch stated that Indian economy will grow by 7.1% in the current fiscal, 2016-2017.
According to the Financial Times, China’s banking system has overtaken the eurozone to become the world’s biggest by assets.
HDFC Bank launched India’s first artificial intelligence based banking chatbot Electronic Virtual Assistant (EVA) for customer services.
NPAs of public sector banks at record high of Rs 6.8 lakh crore
According to the RBI, bank branches that refuse to exchange soiled notes from people will have to pay a penalty of Rs 10,000.
The government has shifted the responsibility of promoting digital transactions in the country to the Ministry of IT and Electronics (MEITY) from NITI Aayog.
IRDAI has imposed a penalty of Rs 20 lakh on ICICI Prudential Life Insurance Company.
Project Ananya – Syndicate Bank
Karur Vysya Bank (KVB) has been adjudged the ‘Best Small Bank for 2016’.

February Month Banking Current Affairs 2017-

Karnataka Bank has bagged two ‘IBA-Banking Technology’ awards.
RBI Doubles Gold Loan Limit for Regional Rural Banks to Rs.2 lakhs
Government has allocated an amount of Rs 500 crore to India Post Payments Bank for the financial year 2017-18 to help it in setting up 650 branches across country by September 2017.
Union Government has decided to launch ‘Indradhanush 2.0’ for recapitalisation of public sector lenders so that the banks remain solvent and fully comply with the global capital adequacy norms namely Basel-III.
ICICI Securities inks partnership with Denmark's Saxo Bank.
Bank of Baroda has tied up with IFFCO, to provide co-branded debit cards for farmers.
RBI declared that, 9.92 lakh crore new notes infused into market as on January 27, 2017.
RBI announced that, Inflation seen at 4-4.5% for April-September,2017.
HDFC Bank, Kotak Mahindra Bank go live with Bharat Bill Payment System (BBPS)
Ujjivan Small Finance Bank (CMD - Samit Ghosh) Starts Pilot Operation in Bengaluru
Axis Bank has tied up with Earthport Plc (a cross-border payment network)
Bank of Maharashtra has partnered with insurance company Cigna TTK Health
Corporation Bank has signed an agreement with Religare Health Insurance Co Ltd to market its products and services.
The Union Budget has allocated Rs. 10,000 crore towards recapitalisation of public sector banks in FY2017-18.
Govt has decided to set up a Dairy Processing and Infrastructure Development Fund in NABARD with a corpus of Rs 8,000 crores over three years.
If the income tax return is furnished after the due date but on or before the December 31 of the assessment year, there will be a fine of Rs 5,000 imposed. In other cases, there will be an imposition of a fine of Rs 10,000.
The General Anti Avoidance Rule (GAAR) will be effective from 1 April, 2017

Banking Current Affairs 2017 - January Month

SBI has launched a wealth management product named 'SBI Exclusif' in Kochi, Kerala
Financial Action Task Force (FATF)
Wholesale reinsurance provider ‘Swiss Re’ has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai.
The Reserve Bank of India RBI has declared that Rescheduled Education Loans will not be considered for Computing NPAs.
Utkarsh Micro Finance launches its Small Finance Bank, this makes Utkarsh the third company to operate as small finance bank after Capital Local Area Bank & Ujjivan small finance Bank.
To educate awareness on banking codes at grass root level, The Banking Codes and Standards Board of India (BCSBI) will organise “know your rights” programme in all the states.
100% FDI under consideration in food processing sector.
Mumbai based dairy firm Kwality Ltd has signed an MoU with Bank of Baroda to provide Rs. 4000 crore loans to one lakh farmers
Punjab National Bank launched a Contactless Credit Card named ‘PNB Wave N Pay’.
Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on Bombay Mercantile Co-operative Bank for violations of norms related to KYC and anti-money laundering.
Government has clarified that Co-operative Banks are not authorised to accept deposits under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS).
India's biggest aircraft carrier ship INS Vikramaditya first to have ATM (State Bank of India) onboard.
World Bank Sanctions Rs 1,376 Cr For Tripura Power Upgradation.

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