Only Banking Feb

Only Banking February - 2022
Page 1 of 84
Get High Standard Mock Test Series for all Bank Exams
If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: admin@exampundit.in
Reserve Bank of India

Headquarter at Mumbai
The Governor of RBI is Shaktikanta Das
Tag Line : “ India’s central Bank”
RBI Follows July to June Financial Cycle
Why does RBI Follow July to June Financial Year?
The banks in India follow April to March financial year and hence their annual financial information is
compiled after that. RBI follows July to June financial year because RBI as a supervisor and regulator
looks into the books of banks and then analyses and prepares its statutory document called as Annual
Report. So a lag of 3 months from normal financial cycle (Apr-Mar) is justified as this is the time which
RBI uses to analyse the information.
Revised Rates:
Policy Rates New Previous Changes
Repo rate 4% 4% No Change
Reverse Repo Rate 3.35% 3.35% No Change
Bank Rate 4.25% 4.25% No Change
Cash Reserve Ratio 4% 4% No Change
Statutory Liquidity Ratio 18% 18% No Change
Marginal Standing 4.25% 4.25% No Change
Facility
Page 2 of 84
Small Savings Scheme Interest Rate
Small Savings Scheme Annual Interest Rate
1.Public Provident Fund (PPF) 7.1 %
2.National Savings Certificate (NSC) 6.8 %
3.Kisan VikasPatra (KVP) 6.9 %(124 months maturity)
4.Sukanya Samriddhi Account 7.6 %
5.Senior Citizen Savings Scheme 7.4 %
GDP Predictions
Financial Organisations FY 22 (2021-22) FY23 (2022-23)
RBI 9.5%
Standard & Poor’s (S&P) 9.5% 7.8%
State Bank of India (SBI) 8.8%

Ecowrap
World Bank 8.3% 8.7%
International Monitory Fund 9% 7.1%

(IMF)
Page 3 of 84
UN (United Nation) 7.5%
Moody’s 9.5% 8.4%
Asian Development Bank (ADB) 10%
India Ratings & Research (Ind- 8.6% 7.6%

Ra)
Confederation of Indian Industry 9.5%

(CII)
CRISIL 9.5% 7.8%
Fitch 8.4% 9.5%
World Economic Outlook released 9.5%

by IMF
ICRA 8.5% 9%
Goldman Sachs 9.1% 9.8%
CARE 8.8 - 9%
OECD 9.4% 8.25%
NORMURA 10.8%
Oxford Economics 10.2%
JP Morgan 11%
Economy Survey 11%
Page 4 of 84
UBS 9.1% 8.2%
NCAER 8.4-10.1%
NSO 7.3%
DBS (Development Bank of 7%

Singapore Limited.)
Brickwork Rating 8.3%
General Banking Awareness
Reserve Bank of India
RBI (Reserve Bank of India):
• Reserve Bank of India (RBI) is the central bank of the country. RBI is a statutory body. It is
responsible for printing of currency notes and managing the supply of money in the Indian
economy.
• Reserve Bank of India (RBI) is the highest monetary authority of India. RBI was established in
1935 by the RBI Act 1934.RBI works as a custodian of foreign reserve, banker’s bank, banker to
the government of India and controller of credit.
• Initially the ownership of almost all the share capital was in the hands of non-government
shareholders. So in order to prevent the centralization of the shares in few hands, the RBI was
nationalized on January 1, 1949.
Page 5 of 84
• The Reserve Bank has adopted the Minimum Reserve System for issuing/printing the currency
notes. Since 1957, it maintains gold and foreign exchange reserves of Rs.200 Cr. of which at
least Rs.115 cr. should be in gold and remaining in the foreign currencies.
Functions of Reserve Bank:
1. Issue of Notes:
The Reserve Bank has the monopoly for printing the currency notes in the country. It has the sole right
to issue currency notes of various denominations except one rupee note (which is issued by the
Ministry of Finance).
2. Banker to the Government:
The second important function of the Reserve Bank is to act as the Banker, Agent and Adviser to the
Government of India and states. It performs all the banking functions of the State and Central
Government and it also tenders useful advice to the government on matters related to economic and
monetary policy. It also manages the public debt of the government.
3. Banker’s Bank:
The Reserve Bank performs the same functions for the other commercial banks as the other banks
ordinarily perform for their customers. RBI lends money to all the commercial banks of the country.
4. Controller of the Credit:
The RBI undertakes the responsibility of controlling credit created by the commercial banks. RBI uses
two methods to control the extra flow of money in the economy. These methods are quantitative and
qualitative techniques to control and regulate the credit flow in the country. When RBI observes that
Page 6 of 84
the economy has sufficient money supply and it may cause inflationary situation in the country then it
squeezes the money supply through its tight monetary policy and vice versa.
5. Custodian of Foreign Reserves:
For the purpose of keeping the foreign exchange rates stable, the Reserve Bank buys and sells the
foreign currencies and also protects the country's foreign exchange funds. RBI sells the foreign
currency in the foreign exchange market when its supply decreases in the economy and vice-versa.
Currently India has Foreign Exchange Reserve of around US$ 440bn (approx).
6. Other Functions:
The Reserve Bank performs a number of other developmental works. These works include the
function of clearing house arranging credit for agriculture (which has been transferred to NABARD)
collecting and publishing the economic data, buying and selling of Government securities (gilt edge,
treasury bills etc)and trade bills, giving loans to the Government buying and selling of valuable
commodities etc. It also acts as the representative of Government in International Monetary Fund
(I.M.F.) and represents the membership of India.
Subsidiaries of RBI
Deposit Insurance and Credit Guarantee Corporation (DICGC):
• Establishment: July 15, 1978

• Authorized Capital: Rs.50crore
• Headquarters: Mumbai
Page 7 of 84
• It is a wholly-owned subsidiary of the Reserve Bank of India (RBI). It provides deposit insurance
that works as a protection cover for bank deposit holders when the bank fails to pay its
depositors.
• DICGC insures all bank deposits, such as saving, fixed, current, recurring deposits for up to the
limit of Rs.5,00,000 of each deposits in a bank.(According to Budget 2020-2021)
• The insurance covers principal and interest is now up to a maximum amount of 5 lakh.
• The DICGC does not directly charge any premium from the depositor on this insurance. So Now
Banks will pay a premium of 12paise against 10paise per Rs.100 deposit.
• All commercial banks including branches of foreign banks functioning in India, local area banks
and regional rural banks are insured by the DICGC.
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL):
• Establishment: February 3, 1995 under the Companies Act 1956

• Headquarters: Bengaluru
• Role: Augmenting the production of bank notes in India to enable the RBI to bridge the gap
between the supply and demand for bank notes in the country.
• Printing press: Mysore, Salboni in West Bengal, Nasik, Dewas
• Coin Minting Press: Mumbai, Hyderabad, Calcutta and Noida
Reserve Bank Information Technology Pvt Ltd (ReBIT):
• Establishment: 2016
• Role: To take care of the IT requirements, including the cyber security needs of the Reserve
Bank and its regulated entities.
Page 8 of 84
Indian Financial Technology & Allied Services (IFTAS):
• Role: Designs, deploys & provides the essential IT-related services, required by the Reserve
Bank of India, banks, and financial institutions.
Sections of RBI:
Reserve Bank of India Act 1934 is the legislative act under which the Reserve Bank of India was
formed. There are total 61 sections in the Reserve Bank of India Act 1934.
Important Sections in Reserve Bank of India Act 1934
• Section 17. Business which the Bank may transact.

• Section 18. Power of direct discount.
• Section 18A. Validity of loan or advance not to be questioned.
• Section 20. Deals with the Obligation of the Bank to transact Government business.
• Section 21. Bank to have the right to transact Government business in India.
• Section 21A. Bank to transact Government business of States on agreement
• Section 22. Exclusive Rights to issue bank notes in India.
• Section 23. The issue of bank notes shall be conducted by the Bank in anIssue Department
which shall be separated and kept wholly distinct from the Banking Department
• Section 24. Denominations of notes.
• Section 25. Form of bank notes - The design, form the material of bank notes shall be such as
may be approved by the Central Government after consideration of the recommendations made
by the Central Board.
• Section 26. Legal tender character of notes.
• Section 26A. Certain bank notes to cease to be legal tender.
Page 9 of 84
• Section 27. Re-issue of notes which are torn, defaced or excessively spoiled.
• Section 28. Recovery of notes lost, stolen, mutilated or imperfect.
• Section 28A. Issue of special bank notes and special one rupee notes in certain cases.
• Section 29. Bank exempt from stamp duty on bank notes Powers of Central Government to
supersede Central Board
• Section 30. Powers of Central Government to supersede Central Board.
• Section 31. Issue of demand bills and notes.
• Section 37. Suspension of assets requirements as to foreign securities.
• Section 38. Obligations of Government and the Bank in respect of rupee coin.
• Section 39. Obligation to supply different forms of currency.
• Section 40. Transactions in foreign exchange.
• Section 42. Cash reserves of scheduled banks to be kept with the Bank.
• Section 43. Publication of consolidated statement by the Bank.
• Section 45B. Power of Bank to collect credit information.
• Section 45C. Power to call for returns containing credit information.
• Section 45-IA. Requirement of registration and net owned fund.
• Section 45-IB. Maintenance of percentage of assets.
• Section 45-IC. Reserve fund.
• Section 45J. Bank to regulate or prohibit issue of prospectus or advertisement soliciting
deposits of money.
• Section 45JA. Power of Bank to determine policy and issue directions.
• Section 45K. Power of Bank to collect information from non-banking institutions as to deposits
and to give directions.
Page 10 of 84
• Section 45L. Power of Bank to call for information from financial institutions and to give
directions.
• Section 45M. Duty of non-banking institutions to furnish statements, etc., required by Bank.
• Section 45MA. Powers and duties of auditors.
• Section 45MB. Power of Bank to prohibit acceptance of deposit and alienation of assets.
• Section 45ZA. Inflation target.
• Section 45ZB. Constitution of Monetary Policy Committee
• Section 45ZM. Monetary Policy Report.
• Section 46. Contribution by Central Government to the Reserve Fund.
• Section 58. Power of the Central Board to make regulations
Banking and Finance

Assets under management for ESG funds up 2.5 times in FY21: NASSCOM
• Assets under management for environmental, social and governance (ESG) funds increased
2.5 times to USD 650 million in India in financial year 2021 on an annual basis, a top official of
IT industry body NASSCOM
• Nasscom President Debjani Ghosh, during the launch of 'Enterprise Innovation Challenge',
there has been a sharp increase in conversations around ESG.
• Companies are not just becoming alert to ESG performance of vendors or partners that they are
willing to work with, but investors also are using ESG as metrics to drive investments.
• In India alone, the assets under management for ESG funds rose by 2.5 times in just a year.
• From 275 million USD in Fiscal Year 20, the assets under management for ESG funds went up
to 650 million USD in Fiscal Year 21
Page 11 of 84
Govt converts G-Secs and Oil Bonds aggregating ₹1.20 lakh crore to mature at a later date:
• The Government of India did a conversion transaction for Government Securities (G-Secs)
and Oil bonds with the Reserve Bank of India (RBI) on January 28, 2022 for an amount of
₹1,19,701 crore (Face Value).
• The transaction involved buying back securities maturing in FY 2022-23, FY 2023-24 and FY
2024-25 from the Reserve Bank and issuing fresh securities for equivalent market value, to
make the transaction cash neutral.
• This is probably one of the biggest conversion transactions in recent times.
• Conversion of G-Secs maturing in the current year and the next into new G-Secs maturing
at a later date help reduce the redemption pressure on the Government.
India requires 2nd green revolution:
• The RBI has stressed the need for another green revolution in the nation in its latest
bulletin.
• Beset with serious challenges like over production of crops like rice and wheat, depletion of
soil health and volatility in food prices, the country would require a second green revolution
focussed on the agriculture-water-energy nexus to make agriculture more climate
resistant and environmentally sustainable
• The use of biotechnology and breeding will be important in developing eco-friendly,
disease-resistant, climate-resilient, more nutritious and diversified crop varieties
• Public and private sector investment can play a critical role to build up the agricultural
infrastructure required for efficient post-harvest practices.
RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd:
• The Reserve Bank, it has imposed several restrictions on Indian Mercantile Cooperative
Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals.
Page 12 of 84
• The restrictions came into force from closure of business hours on January 28, 2022.
• RBI the Lucknow-based co-operative bank will not, without its prior approval, grant or
renew any loans and advances, or make any investment.
• The central bank, however, added the directions should not per se be construed as a
cancellation of the banking licence by the RBI.
• The bank will continue to undertake banking business with restrictions till further
notification from RBI.
• The Reserve Bank may consider modifications of these Directions depending upon
circumstance prior approval, grant or renew any loans and advances, or make any investment.
• The restrictions would remain in force for six months and are subject to review.
Tata Group choose SBI, Bank of Baroda and HDFC Bank as preferred bankers for Air India:
• Tata Group has chosen State Bank of India, Bank of Baroda and HDFC Bank as preferred
bankers for Air India.
• Recently Tata Group has taken over Air India from the government.
• Air India is the largest international carrier out of India with an 18.6% market share.
• Tata Sons have availed of a Rs 10,000-crore loan from SBI and a Rs 5,000-crore loan from
BoB.
• The loan from HDFC Bank is not known yet.
• The loans are unrated, unsecured, and pegged at 4.25% [interest rate] annually.
• The new debt leveraged by the Tata Group will be used to refinance Air India’s debt leveraged
by more than 10%.
• It is not known if Tatas has already obtained a loan from HDFC Bank.
• Tata Group, SBI, BoB and HDFC Bank did not respond to ET’s inquiry.
Page 13 of 84
Rs 1,38,394 crore gross GST revenue collected for January 2022:
• The gross GST revenue collected in the month of January, 2022 is one lakh 38 thousand 394
crore rupees.
• Of which CGST is 24 thousand 674 crore rupees, SGST is over 32 thousand crore rupees,
IGST is over 72 thousand crore rupees and cess is nine thousand 674 crore rupees.
• The highest monthly GST collection has been one lakh 39 thousand 708 crore rupees in the
month of April 2021.
• The revenues for the month of January this year is 15 per cent higher than the GST revenues in
the same month last year.
• This is for the fourth time GST collection has crossed one lakh 30 thousand crore rupees mark.
• The improvement in revenue has also been due to various rate rationalization measures
undertaken by the Council to correct inverted duty structure.
Retail Inflation Remains Moderate during Current Year; 5.2% In 2021-22 (April-December):
• The retail inflation, as measured by Consumer Price Index-Combined (CPI-C) moderates to
5.2% in 2021-22 (April-December) from 6.6% in the corresponding period of 2020-21.
• The Survey also says effective supply-side management kept prices of most essential
commodities under control during the year.
Domestic Inflation:
• Compared to many Emerging Markets and Developing Economies (EMDEs) and advance
economies, the Survey finds that Consumer Price Index – Combined (CPI-C) inflation in India
has remained range bound in the recent months, touching 5.2% in December 2021.
Global Inflation:
• The Economic Survey says that in 2021, inflation picked up globally as economic activity revived
with opening up of economies.
Page 14 of 84
• Inflation surged from 0.7 % in 2020 to around 3.1 % in 2021 in the advanced economies.
• For instance, inflation in the USA touched 7.0 % in December 2021, the highest since 1982. In
the UK, it hit a nearly 30 years high of 5.4% in December 2021.
• Among emerging markets, Brazil witnessed inflation of 10.1% in December 2021 and Turkey
also saw double digit inflation touching 36.1%.
• Argentina has been experiencing inflation rates above 50% during the last 6 months.
First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital
Formation, 2020-21:
• The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation
is, in this press note, releasing the
• First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital
Formation for the financial year 2020-21 along with
• Second Revised Estimates for the financial year 2019-20 and
• Third Revised Estimates for the financial year 2018-19 (with Base Year 2011-12) as per the
revision policy of national accounts.
• Earlier estimates for 2011-12 to 2019-20 were released vide Press Note dated 29th January,
2021 and Provisional Estimates of financial year 2020-21 were released on 31st May, 2021.
• Nominal GDP or GDP at current prices for the year 2020-21 is estimated at ₹198.01 lakh
crore as against ₹200.75 lakh crore for the year 2019-20, showing a contraction of 1.4 per
cent during 2020-21 as compared to growth of 6.2 per cent during 2019-20.
• Real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at
₹135.58 lakh crore and ₹145.16 lakh crore, respectively, showing a contraction of 6.6 per cent
during 2020-21 as compared to growth of 3.7 per cent during 2019-20.
Page 15 of 84
Exports of marine products in India jumps by 35 pct to 6.1 Bn dollars during April to December
2021:
i. The exports of marine products registered a growth of 35 per cent to 6.1 Billion dollars
during April to December last year as compared to the same period in 2020.
ii. The Commerce and Industry Ministry, in December last year, the exports of Marine Products
touched over 720 million dollars, registering a growth of over 28 per cent.
iii. The overall exports of Marine Products in the last Financial Year was 5.96 Billion dollars.
iv. India’s Exports of Ready to Eat products has also increased by 24 per cent to 394 million
dollars in the current financial year, compared to last financial year during April to October.
v. Major destinations of Ready to Eat export are U.S.A, U.A.E, Canada and Sri Lanka.
PNB launches co-branded contactless credit cards with Patanjali in partnership with RuPay
• Punjab National Bank (PNB), and Patanjali Ayurved Limited (PAL) have launched co-
branded contactless credit cards in partnership with the National Payments Corporation of
India (NPCI).
• It can be used at all merchant outlets or online websites that accept RuPay cards.
• The co-branded credit cards are offered on NCPI's RuPay Platform and are available in two
variants – PNB RuPay Platinum and PNB RuPay Select.
• Both the co-branded cards offer a hassle-free credit service to purchase day-to-day Patanjali
products, along with cash backs, loyalty points, insurance cover.
Features of Card :
• PNB RuPay Platinum and PNB RuPay Select cardholders will receive a welcome bonus of
300 reward points on activation.
Page 16 of 84
• Platinum and Select cards come with attractive insurance cover for accidental death and
individual complete disability of Rs 2 lakh and Rs 10 lakh respectively.
• Platinum cardholders will be given a credit limit of 25 thousand to 5 lakh rupees and select
cardholders will be given a credit limit of 50 thousand to 10 lakh rupees.
• The joining fee of the Platinum version is zero and the annual fee is Rs 500, while the joining
fee of the Select version is Rs 500 and the annual fee is Rs 750.
• Annual fee will be waived for use of the card at least once in every quarter in the previous
year.
• This card is equipped with contactless technology, which also provides the facility of ‘Tap
and Pay’ to the customers i.e. payment can be made by simply tapping on the POS machine
without swiping the card.
About PNB :
• Founded: 19 May 1894
• CEO: S. S. Mallikarjuna Rao
• Headquarters: New Delhi
• Founder: Dyal Singh Majithia
• Tagline: The Name You Can Bank Upon
About Patanjali :
• Founded: January 2006
• Headquarters : Haridwar, Uttarakhand
• Founder : Balkrishna, Ramdev
• MD : Acharya Balkrishna
Page 17 of 84
About National Payments Corporation of India (NPCI) :
• Founded: 2008
• Headquarters: Mumbai, Maharashtra
• MD & CEO : Dilip Asbe
CRISIL report – India’s GDP growth for FY23 at 7.8%
• Domestic rating agency CRISIL estimated 2022-23 (FY23) real GDP growth at 7.8 percent
as compared with the 8.5 per cent projected in the Economic Survey.
• For 2021-22 (FY22) = 9.2%
About CRISIL :
• Founded: 1987
• MD & CEO : Amish Mehta
• CFO : Sanjay Chakravarti
• CRISIL is an Indian analytical company providing ratings, research, and risk and policy
advisory services.
Dukaan partners with Simpl to provide Buy Now, Pay Later services to merchants
• Dukaan, a platform that enables small and medium-sized businesses to set up online stores
and sell products digitally, has partnered with Simpl, a marquee buy-now-pay-later
platform, to provide BNPL services to Dukaan's merchants.
About Dukaan :
• Dukaan is a Bangalore-based startup that enables D2C and SMB merchants to set up
online stores and sell products digitally.
• Established : 2020
• CEO and Co-Founder : Suumit Shah
Page 18 of 84
• It has customers across multiple industries in the D2C space, including food & beverage,
fashion, home décor, electronics and digital products.
• The application has integrated with numerous service providers from logistics to fulfillment
and is aiming to build the operating system for the modern D2C brand.
• Dukaan has made an application marketplace for further customization of online stores.
• Dukaan empowers small businesses around the country – both online sellers and brick and
mortar shops – and helps its sellers' customers continue to access high-quality products.
About Simpl :
• Founded : 2015
• Co-Founder and CEO : Nitya Sharma
• Simpl is India's fastest growing Buy Now Pay Later platform, and is on a mission to make
payments invisible and money intelligent.
• With Simpl, merchants are able to provide consumers an easy, safe and intuitive user
experience.
• It enables merchants to give their customers 1-click checkout, buyer protection and a pay-
later facility to allow them to feel safe and trusted when shopping online.
SEBI overhauls high-power advisory committee on settlement orders
• Capital markets regulator SEBI has restructured its four member high-power advisory
committee on settlement orders and compounding of offences.
• The committee will now be chaired by Jai Narayan Patel, former chief justice of Calcutta
High Court.
• The panel was earlier headed by Vijay C Daga, retired judge of the High Court of Bombay.
• The panel will work as per the Settlement Proceedings Regulations, specified by the
regulator.
Page 19 of 84
• Rejigging its committee, Sebi has listed M S Sahoo, former chairperson at Insolvency and
Bankruptcy Board of India, and Poornima Advani, ex-chairperson of National Commission for
Women as new inductees.
• P K Malhotra, former law secretary in the Ministry of Law & Justice, Government of India,
will continue as a member of the committee.
• Under the settlement mechanism, an alleged wrongdoer can settle a pending case with the
regulator without admission or denial of guilt by paying a settlement fee.
• Under the new rules, the timeline for filing settlement applications has been cut to just 60
days from the current 180 days.
• Further, the time period for submission of revised settlement terms form, after the Internal
Committee (IC), has been rationalized to 15 days.
• The current rule allows 10 days plus additional 20 days.
About SEBI :
• Founded: 12 April 1992
• Chairperson : Ajay Tyagi
Edelweiss General Insurance launches AI voice bot for automated motor claims
• Edelweiss General Insurance (EGI), has launched an AI Voice Bot to enable its
customers intimate insurance motor claims in a convenient and seamless manner.
• This end-to-end AI Voice Bot is the first in the General insurance industry in India, and is
powered by Yellow.ai platform.
• This conversational AI Voice Bot, available in Hindi, English and Hinglish, will enable real
time registration of claims, 24-7.
Page 20 of 84
• It has been introduced for garage owners and will be extended to all customers.
• The bot will assist EGI’s garage representatives in easier, faster and hassle-free registration
of claims.
Note :
• Executive Director & CEO, Edelweiss General Insurance : Shanai Ghosh
RBI warns against forex trading on unauthorized Platforms:
• RBI has noticed a few misleading advertisements of unauthorized Electronic Trading
Platforms (ETPs) offering forex trading facilities to Indian residents.
● It added that such entities are also personally contacting people and luring them with promises
of disproportionate returns.
● Reserve Bank said there have been reports of frauds committed by such unauthorized ETPs
where many residents have lost money.
● Forex transactions must be undertaken only with authorized entities, RBI said a list of
authorized persons and ETPs is available on its website along with a set of FAQs on forex
transactions.
● The residents undertaking forex transactions for illegal purposes or with unauthorized entities
shall be liable for penal action under the Foreign Exchange Management Act, 1999.
RBI cancels license of Nashik based Independence Co-operative Bank Limited
• Reserve Bank of India has canceled the license of Independence Co-operative Bank
Ltd., Nashik, Maharashtra with effect from the close of business on February 03, 2022.
The RBI has canceled the license of the bank as:
● The bank does not have adequate capital and earning prospects.
Page 21 of 84
● As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read
with Section 56 of the Banking Regulation Act, 1949.
● The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b),
22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949
● The continuance of the bank is prejudicial to the interests of its depositors
● The bank with its present financial position would be unable to pay its present depositors in full
● Public interest would be adversely affected if the bank is allowed to carry on its banking
business any further.
● On liquidation, every depositor would be entitled to receive deposit insurance claim amount of
his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five lakh only) from Deposit
Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of the DICGC
Act, 1961.
● As per the data submitted by the bank, more than 99% of the depositors are entitled to receive
the full amount of their deposits from DICGC.
● As on January 27, 2022, DICGC has disbursed ₹2.36 crore of the total insured deposits under
the provisions of Section 18A of the DICGC Act,1961 based on the willingness received from the
concerned depositors of the bank.
About RBI :
● Headquarters: Mumbai, Maharashtra
● Founded: 1 April 1935, Kolkata
Page 22 of 84
● Governor: Shaktikanta Das
● Repo Rate : 4.00%
● Reverse repo rate : 3.35%
● Bank rate : 4.25%
● Cash reserve ratio (CRR) : 4.0%
● Statutory liquidity ratio (SLR) : 18.00%
LIC partners with Policybazaar for digital distribution of life insurance products
● IPO- bound Life Insurance Corporation and Policybazaar.com, one of the largest insurance
marketplaces, have joined hands to offer a wide range of term and investment products to
consumers.
Aim :
● To facilitate seamless digital distribution of life insurance products across the nation.
● This is LIC’s first association with an insurance aggregator, and otherwise relies heavily on its
large agency force of 1.33 million agents for distributing its products.
About LIC :
• Founded: 1 September 1956
• Chairperson: M R Kumar
• Managing Director : Mukesh Gupta, Smt. Ipe Mini, Siddharth Mohanty, Rajkumar
About Policybazaar :
• Founded : July 2008
• Founders : Yashish Dahiya, Alok Bansal, Avaneesh Nirjar
• Headquarters : Gurgaon, Haryana, India
• CEO : Sarbvir Singh
Page 23 of 84
• Policybazaar is an Indian insurance aggregator and multinational financial technology company.
• It is the flagship subsidiary of PB Fintech Ltd which also owns the credit product aggregator
Paisabazaar.
• Policybazaar.com, the flagship platform of PB Fintech, is the largest online insurance
marketplace in the country which distributes products of 51 insurance companies, which include
life, general, and standalone health insurance companies.
Ministry of Finance releases PDRD Grant of 9,871 crore rupees to 17 States:
• Ministry of Finance has released the monthly Post Devolution Revenue Deficit (PDRD)
Grant of 9 thousand 871 crore rupees to 17 States.
• This was the 11th installment of the PDRD grant released to the States.
• Ministry of Finance said that the grants are released to the States as per the recommendations
of the 15th Finance Commission to meet the gap in Revenue Accounts of the States post-
devolution.
• The Commission has recommended PDRD grants to 17 States and the same being released in
equal monthly installments.
• The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit
Grant of one lakh 18 thousand 452 crore rupees to 17 States in the financial year 2021-22.
• An amount of over one lakh 8 thousand crore rupees has been released to the eligible States so
far.
Kotak Mahindra General Insurance partners with CARS24 to offer Motor Insurance
• Kotak Mahindra General Insurance Company Limited has tied up with CARS24 Financial
Services Private Limited to provide motor insurance services to the buyers of used cars.
Page 24 of 84
• As part of the tie-up, CARS24, as a corporate agent of Kotak General Insurance, will extend
motor insurance services to its consumers that will fully insure their vehicles with Kotak
General Insurance's comprehensive motor insurance plans.
• The Partnership will offer customers a trustworthy and faster way to avail motor insurance
with a fully digital insurance process for a convenient and hassle-free experience.
About Kotak Mahindra General Insurance Company Limited :
• Founded: 2015
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO : Suresh Agarwal
• Kotak Mahindra General Insurance is a 100% subsidiary of Kotak Mahindra Bank Ltd.
About CARS24 Financial Services Private Limited :
• Located at : Gurugram, Haryana
• CARS24 Financial Services is a subsidiary of CARS24, an online used car marketplace.
ADB committed Loans Worth $4.6 Billion to India In 2021
• The Asian Development Bank committed a record $4.6 billion in sovereign lending to India
in 2021 for 17 loans, including $1.8 billion for the country's Coronavirus disease
pandemic response.
• Out of$1.8 billion , $1.5 billion was towards vaccine procurement and $300 million to
strengthen primary health care in urban areas and the country's future pandemic
preparedness.
• ADB’s regular program supported transport, urban development, finance, agriculture, and
skills building.
About ADB :
• Founded: 19 December 1966
Page 25 of 84
• Headquarters: Mandaluyong, Philippines
• President: Masatsugu Asakawa
Govt. does switch operation of ₹1,19,701 crore
• The Government of India to smoothen its liability profile has done a conversion transaction
with the Reserve Bank of India (RBI) on January 28, 2022 for an amount of ₹1,19,701 crore
(face value).
• The transaction involved buying back securities maturing in FY 2022-23, FY 2023-24 and FY
2024-25 from the Reserve Bank and issuing fresh securities for equivalent market value, to
make the transaction cash neutral.
• The transactions were carried out using Financial Benchmarks India Pvt. Ltd. (FBIL)
prices as on January 28, 2022.
• The Government of India has been undertaking conversion or switch operations with market
participants as well as with the RBI with the objective of smoothening the liability profile as
well as for market development.
ICICI Lombard General Insurance Company partners Airtel Payments Bank to offer Cyber
Insurance
● Airtel Payments Bank has partnered ICICI Lombard General Insurance Company to offer
insurance solutions against cyber crimes and financial frauds to its customers.
● The cyber insurance solution from ICICI Lombard provides financial protection to customers
against potential financial fraud relating to banking, credit or debit card, identity theft, phishing
or email spoofing and more.
● Customers of Airtel Payments Bank can purchase this insurance policy within minutes using the
Airtel Thanks app.
Page 26 of 84
● This comes with a ZERO wait period and allows users to make multiple claims during the policy
tenure, within the limits of the insured amount opted for.
● The policy will provide a 90-day discovery period followed by a seven-day reporting period.
Note :
● In 2021, Airtel Payments Bank had launched Airtel Safe Pay, the safest way to pay online.
About ICICI Lombard General Insurance Company :
● CEO: Bhargav Dasgupta

● Founded: 2001
● ICICI Lombard General Insurance Company Limited is a general insurance company in India.
● It is engaged in general insurance, reinsurance, insurance claims management and investment
management
About Airtel Payments Bank :
● CEO: Anubrata Biswas

● Headquarters: New Delhi, Delhi
● Founded: January 2017
RBI extends restrictions on Karnataka's Millath Co-Operative Bank
● The Reserve Bank of India (RBI) has extended the restrictions on Karnataka's Millath Co-
Operative Bank, Devangere, by another three months till May 7, 2022.
● Accordingly, the Reserve Bank of India, in the exercise of powers vested in it under sub-section
(1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949.
● As per the directions issued first on May 10, 2019, withdrawals were capped at Rs 1,000 from
any account.
Page 27 of 84
● The directions have been periodically extended till now.
● The other terms and conditions of the directives will remain unchanged during the latest three-
month extension.
● The directions also include no new loans, new investments or taking on any new liabilities,
including borrowing of funds or paying any other liabilities, sans RBI approval.
About RBI:
● Established: 1st April 1935
● Deputy Governors: Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi
Sankar
PM CARES Fund Corpus Triples To Rs 10 990 Cr In FY 2020-21
● According to the latest audited statement of PM CARES Funds, the total corpus under the PM
CARES Funds in 2020-21 was Rs 10,990.17 crore & Rs 3,976.17 crore was spent from the fund
in 2020-21.
● The fund's closing balance as of March 31, 2021, stood at Rs 7,013.99 crore, more than double
of Rs 3,076.62 crore.
● While Rs 1,000 crore was allotted to states and Union territories for the welfare of migrants, Rs
1,392.82 crore was spent on the procurement of 6.6 crore doses of Covid vaccines.
About PM CARES Fund :
● PM CARES Fund - Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund
● Formation : 27 March 2020
● Headquarters : New Delhi, Delhi, India
● Chairman : Narendra Modi (ex-officio chairman)
Page 28 of 84
● The trustees include the Minister of Defence, Rajnath Singh; Minister of Home Affairs, Amit
Shah, and Minister of Finance, Nirmala Sitharaman, in the Government of India.
● PM CARES fund is a dedicated national fund with the primary objective of dealing with any kind
of emergency or distress situation, like posed by the COVID-19 pandemic.
RBL Bank partners with Creditas Solutions to automate collections

• RBL Bank has announced a partnership with Creditas Solutions, a global technology company
in the field of delinquency management, for its ‘Neo Collections’ platform.
• It will utilize the SaaS-based (software as a service) platform to accelerate efficiency in
collections across the loan cycle.
• It is Powered by artificial intelligence and machine learning technology.
About Neo Collections Platform :
• The Neo Collections Platform, a Do It Yourself (DIY) debt management platform, will help
our customers seamlessly monitor, manage and pay their dues.
• It will enable the bank to offer its customers a convenient, seamless and a non-intrusive
repayment experience.
• Customers can access their consolidated account information anytime, on any device and
choose the most convenient payment option for repayments in a few clicks.
• The intuitive platform will guide customers with personalized insights to improve their credit
score.
• The platform can also determine the best course of action for every customer by offering
customised payment plans to service debt, schedule an EMI plan or opt for payment
resolution options.
About RBL Bank :
• Founded: August 1943
Page 29 of 84
• Interim MD & CEO : Mr Rajeev Ahuja
• RBL Bank, formerly known as Ratnakar Bank.
RBI enhances VRR cap for foreign investors by Rs 1 lakh crore
● The Reserve Bank of India introduced the Voluntary Retention Route (VRR) for investments
by Foreign Portfolio Investors (FPIs) on March 01, 2019 with an amount of ₹1,50,000 crore.
● Out of this, around ₹1,49,995 crore have been availed so far in three tranches.
● The investment limit under VRR has been increased to ₹2,50,000 crore.
● The investment limit available for fresh allotment shall accordingly be ₹1,04,800 crore (net of
extant allotments and adjustments).
● Minimum retention period: 3 years
● Investment limits shall be available ‘on tap’ and allotted on ‘first come, first served’ basis.
● The ‘tap’ shall be kept open till the limit is fully allotted.
● FPIs may apply for investment limits online to Clearing Corporation of India Ltd. (CCIL) through
their respective custodians.
● CCIL will separately notify the operational details of application process and allotment
RBI Keeps Repo Rate Unchanged at 4.0 percent
• On February 8, 9 and 10, 2022, Reserve Bank of India conducted the 6th and the last
Monetary Policy Committee (MPC) meeting for 2021-22.
• RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at
4.0 percent.
Key Rates remain unchanged :
● Policy Repo Rate : 4.00%
● Reverse Repo Rate : 3.35%
Page 30 of 84
● Marginal Standing Facility Rate : 4.25%
● Bank Rate : 4.25%
● CRR : 4.00%
● SLR : 18.00%
● The MPC also decided to continue with the accommodative stance.
Global Economy :
● In the January 2022 update of the World Economic Outlook, the International Monetary Fund
(IMF) revised global output and trade growth projections for 2022 downward to 4.4 per cent and
6.0 per cent from its earlier forecasts of 4.9 per cent and 6.7 per cent, respectively.
GDP Growth :
● The RBI has projected real GDP growth at 7.8 per cent for FY 2022-23.
● The GDP growth for Q1 of FY 2022-23 is expected at 17.2 percent, Q2 is expected at 7 percent,
Q3 is expected at 4.3 percent and Q4 is expected at 4.5 percent.
● The first advance estimates (FAE) of national income released by the National Statistical Office
(NSO) on January 7, 2022 placed India’s real gross domestic product (GDP) growth at 9.2 per
cent for 2021-22, surpassing its pre-pandemic (2019-20) level.
● All major components of GDP exceeded their 2019-20 levels, baring private consumption. In its
January 31 release, the NSO revised real GDP growth for 2020-21 to (-) 6.6 per cent from the
provisional estimates of (-) 7.3 per cent.
● India’s foreign exchange reserves increased by US$ 55 billion in 2021-22 (up to February 4, 2022)
to US$ 632 billion.
Inflation :
● Inflation projection for 2021-22 is retained at 5.3%
Page 31 of 84
● CPI inflation for 2022-23 is projected at 4.5% for Q1 - 4.9%; for Q2 - 5.0%; for Q3 - 4.0%; for Q4
- 4.2%
Additional measures :
● Limit for investment under Voluntary Retention Route Scheme enhanced from Rs. 1.5 lakh
crore to Rs. 2.5 lakh crore, w.e.f April 1, 2022.
● RBI Bank will now be allowed to undertake transactions in Offshore Foreign Currency Settled
(FCS) Overnight Index Swaps (OIS) with non-residents and other market makers
● On Tap Liquidity Facility for Emergency Health Services (Rs. 50,000 crore) and Contact
Intensive Sectors (Rs. 15,000 crore) announced in May and June 2021 extended from March 31
till June 30, 2022, due to continued uncertainty following the third wave of Covid pandemic.
● Cap under e-RUPI Prepaid Single Use Digital Payment Voucher issued by Centre and States
increased from Rs 10,000 to Rs 1 lakh per voucher.
● Mandate Limit of Transactions in Trade Receivables Discounting System (TReDS) settled
through National Automated Clearing House NACH to be increased from ₹1 crore at present to
₹3 crore & this will further enhance the ease of financing the growing liquidity requirements of
MSMEs.
● To review and address issues relating to financial, operational and reputational risks faced by
Regulated Entities, RBI Propoes Two Draft directions - Reserve Bank of India (IT Outsourcing)
Directions, 2022 and Reserve Bank of India (Information Technology Governance, Risk, Controls
and Assurance Practices) Directions, 2022 .
● The guidelines for Credit Default Swaps (CDS) initially issued in 2013 were reviewed and draft
guidelines were issued in February 2021 for public comments.
About RBI :
● Founded: 1 April 1935
Page 32 of 84
● Deputy governors : Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar
NABARD Introduces 'JIVA' to Promote Natural Farming
• The National Bank for Agriculture and Rural Development (NABARD) launched an
agroecology-based programme JIVA that will promote natural farming under its existing
watershed and wadi programmes in 11 states.
About JIVA :
Aim :
• To ensure using the principles of agroecology long-term sustainability and transform the
pre-existing social and natural capital, and nudge the farming community towards natural
farming as commercial farming cannot work in these regions.
• JIVA is a culmination of several projects under the watershed programme and will be
implemented on our existing completed (or near completed) watersheds.
• The JIVA programme will be implemented on a pilot basis in 25 projects across 11 states
covering five agro ecological zones.
• Under this programme Rs 50,000 per hectare will be invested & the best practices will be
implemented on 200 hectares in each project & these 200 hectares will be a learning and
proselytising platform to the whole village.
About NABARD :
• Founded: 12 July 1982
• Chairman : Govinda Rajulu Chintala
Page 33 of 84
• National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory body
for overall regulation of regional rural banks and apex cooperative banks in India.
• It is under the jurisdiction of the Ministry of Finance, Government of India.
Aditya Birla Health Insurance inks bancassurance partnership with Utkarsh SFB
• Aditya Birla Health Insurance Co. Limited. (ABHICL) has signed a bancassurance
agreement with Utkarsh Small Finance Bank for distribution of health insurance
products through the lender's network of branches across India.
• Through this Aditya Birla Health Insurance’s comprehensive suite of health insurance plans,
including protection health plans, will be available for purchase to 2.7 million+ customers
of the Bank across 642 branches in 214 districts spread across 19 states and 2 Union
Territories in the country.
• The partnership will help further strengthen our distribution and unlock growth opportunities
through the Bank’s wide network. This tie-up will help us reach the tier II and tier III markets
with insurance solutions thereby increasing insurance penetration in the country.
• With this new partnership, Aditya Birla Health now has 12 bancassurance partners with
over 51,120+ direct selling agents all over India.
About Aditya Birla Health Insurance :

• Founded: 2015
• Headquarters : Mumbai, Maharashtra
• Chief Executive Officer : Mayank Bathwal
• It has 175 branches in India and has a diversified presence in 2,800 cities spread across the
length and breadth of the country.
Page 34 of 84
'SEBI' Revamps Advisory Committee on Investor Protection and Education Fund
• Capital markets regulator Securities and Exchange Board of India (SEBI) has
restructured its advisory committee on Investor Protection and Education Fund (IPEF).
• The panel is mandated to recommend investor education and protection activities that may
be undertaken directly by the markets regulator, or through any other agency, for utilisation
of the SEBI Investor Protection and Education Fund.
• The eight-member committee will now be chaired by G Mahalingam, former Whole Time
Member of SEBI.
• The panel was earlier headed by Abraham Koshy, former professor of IIM-Ahmedabad,
Gujarat.
• SEBI has listed Vijay Kumar Venkataraman, chief-trade services at Nurture.farm and
former MD and CEO of NCDEX and Mrin Agarwal, founder of Finsafe India among the new
inductees.
• Balasubramanian, MD and CEO at Aditya Birla Sun Life AMC, and M G Parameswaran,
founder of brand-building.com, will continue as a member of the committee.
• The committee also comprises three SEBI officials, executive director GP Garg and chief
general managers N Hariharan and Jayanta Jash.
• In 2013, the regulator had set up a committee to find out ways and means to best utilise the
investor protection and education fund.
About 'SEBI' :
Page 35 of 84
• The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and
commodity markets in India under the ownership of the Ministry of Finance , Government of
India.
• It given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.
RBI emerged as the second largest buyer of Gold
• Reserve Bank of India (RBI) emerged as the second largest buyer of Gold among the
world's Central Banks in 2021.
• The Central Bank of Thailand (Bank of Thailand) was the highest buyer of Gold in 2021
and bought 90 metric tonnes of gold.
• While RBI bought 77.5 metric tonnes taking its total gold reserve to 754.1 tonnes at the end
of December 2021.
• According to Goldhub, India’s official gold reserves is ninth largest in the world.
• In 2009, India bought 200 tonnes of gold from the International Monetary Fund (IMF).
• At the end of December 2021, RBI gold reserves stood at 754.1 tonnes, which amounts to
6.22 per cent of India’s forex reserves. As per RBI data, India’s total reserves at the end of
December 31, 2021 stood at $633.61 billion, including gold reserves worth $39.405 billion.
About RBI:
• Governor: Shaktikanta Das
• Deputy Governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, T. Rabi Shankar.
• Founder: British Raj
Page 36 of 84
About Goldhub :
• Goldhub is the official website of World Gold Council that maintains all the data regarding
precious metal
About World Gold Council :
• CEO: David Tait
• Headquarters: London, United Kingdom
• Founded: 1987
• President: Kelvin Dushnisky
• The World Gold Council is the market development organization for the gold industry.
RBI increases e-RUPI Voucher Limit to Rs 1,00,000
• The Reserve Bank of India increased the cap on the e-RUPI prepaid digital vouchers to
Rs 1 lakh from Rs 10,000.
Purpose :
• To facilitate digital delivery of various government schemes to the beneficiaries & allow
the use of the e-RUPI voucher multiple times (until the amount of the voucher is completely
redeemed).
• Currently, each voucher can be redeemed only once.
• The RBI will issue necessary instructions in this regard to the National Payments
Corporation of India (NPCI).
About e-RUPI prepaid digital voucher :
• The e-RUPI pre-paid digital voucher developed by the NPCI was launched in August 2021.
• Earlier, the single-use cashless payment voucher had a cap of ₹10,000.
Page 37 of 84
• It will play a huge role in making DBT (direct benefit transfer) more effective in digital
transactions in the country.
• e-RUPI vouchers are presently being used largely for Covid-19 vaccination purposes.
SBI partners with NSE Academy to offer five online courses

• The State Bank of India (SBI) has announced partnership with NSE Academy to launch five
online courses that promote financial literacy as a necessary life skill.
• Learners can start to enroll for the five inaugural MOOCs of SBI on the NSE Knowledge Hub
platform as a part of this association.
• The courses, curated by the SBI, are a good blend of theory and operational aspects
enabling learners to have a deeper understanding of fundamentals of banking, compliance,
lending norms and a host of other topics.
• These courses have been designed and developed by practising bankers possessing rich
experience and excellent academic credentials.
• It is suitably enriched with real-life case studies and scenarios, thus offering experiential
learning for working professionals and learners.
List of Five Online Courses :
1. “Banking Fundamentals” provides basic banking knowledge.
2. “MSME Lending in a Nutshell” is designed especially for SME entrepreneurs, Banking
professionals, and will also be of interest to students.
3. “Electronic Payment System in India” offers basic information on electronic and digital
payment systems.
4. The course” Priority Sector Lending Norms” provides insights into the significance of Priority
sector lending and guidelines
Page 38 of 84
5. The course “NRI Business & Compliance” empowers learners with knowledge of rules and
regulations governing NRI Business and compliance.
About SBI :
• Founded: 1 July 1955
• Chairperson: Dinesh Kumar Khara
Paisabazaar ties up with RBL bank to offer credit card
• Paisabazaar.com, a digital platform for consumer credit, has tied up with RBL Bank to offer
‘Paisa on Demand’ (PoD), a credit card.
• The credit card will be exclusively available on the Paisabazaar platform.
• The credit card from RBL Bank will be lifetime free with a digital onboarding process.
• It will provide customers the option of availing personal loans from RBL Bank, using the
same credit limit at normal personal loan rates.
• This is the third product under Paisabazaar’s neo-lending strategy.
• In 2021 , Paisabazaar launched a credit card, designed for new-to-credit or subprime
consumer segments called ‘Step UP’, the card provides benefits of a credit card and also
facilitates consumers to build their credit score.
• Under its neo-lending vertical, Paisabazaar claims to have also co-created a credit line for
prime and super prime segments, through a paperless and presence-less process.
About Paisabazaar.com :
• CEO & Co-founder : Naveen Kukreja
About RBL Bank :
• RBL Bank, formerly known as Ratnakar Bank.
Page 39 of 84
• Interim MD & CEO : Mr Rajeev Ahuja
Paytm has highest penetration in digital payments
• According to a Comscore report, Paytm continues to lead digital payments with over 45 per
cent penetration in Fintech.
• Paytm is closely followed by Google Pay (mobile App) at 43 percent penetration (reach as
percentage of total digital population).
• The Comscore report revealed that financial services was among the top online content
categories, accounting for 80 per cent of the total internet audience in the country.
• The payments was the largest subcategory within the fintech domain in 2021 with over 372
million unique visitors.
• It has leveraged this dominant reach to grow its businesses, and build a two-sided
ecosystem of consumers and merchants
• Paytm’s revenue from operations grew 89 per cent Y-o-Y in Q3FY22 to ₹ 1,456 crore, while
financial services and payments contributed to a significant amount of revenue generated in
the third quarter. Revenue from financial services and payments grew 98 per cent Y-o-Y in
Q3FY22 to ₹1,116.8 crore.
• As per the Q3FY22 earnings report, Paytm’s monthly transacting users (MTU) grew
consistently to 64.4 million, up by 37 per cent Y-o-Y and 12 per cent quarter-on-quarter (Q-
o-Q).
About Paytm :
• Founder & CEO: Vijay Shekhar Sharma
• President : Amit Nayyar
Page 40 of 84
• Headquarters: Noida, Uttar Pradesh, India
HDFC Ergo partners Visa for insurance cover on select bank cards
• HDFC Ergo General Insurance announced its partnership with Visa to offer curated
insurance covers for Visa’s Platinum card holders for select public sector banks.
• It will offer a complimentary fraud insurance cover for our Platinum Debit & Credit
cardholders across participating issuers.
• RBI has mandated banks to offer Zero Liability to cardholders for frauds reported.
• Through this association with Visa, (https://www.hdfcergo.com) HDFC ERGO aims to insure
the risk of fraudulent transactions and enable the issuing banks to offer Zero Liability to
their cardholders.
• The policy will offer all Visa Platinum Credit & Debit Cards of participating issuers with fraud
insurance cover for an amount up to Rs. 1 lac.
• For this program, Visa is the master policyholder and the insurance coverage is provided by
HDFC ERGO General Insurance Co. Ltd., complimentary to Visa Platinum cardholders of
participating banks.
• According to RBI, fraudsters siphoned off Rs. 615.39 crore in more than 1.17 lakh cases of
credit and debit card frauds over 10 years."
About HDFC ERGO General Insurance Company :
• Founded: 2002
• CEO: Ritesh Kumar
• HDFC ERGO is a 51:49 joint venture firm between HDFC and ERGO International AG, one of
the insurance entities of the Munich Re Group in Germany operating in the insurance field
under the BFSI sector.
Page 41 of 84
• It is one of India's largest non-life insurance companies in the private sector.
CBI finds ABG Shipyard in Rs 22,842 crore bank fraud
● ABG Shipyard Limited, one of India's largest private sector shipyard firms, has been booked by
the Central Bureau of Investigation (CBI) for defrauding 28 banks to the tune of Rs 22,842
crore.
● It is one of the biggest bank fraud (bigger than Punjab National Bank scam involving Nirav
Modi and Mehul Choksi) cases which the CBI will be investigating.
● ABG shipyard owes Rs 2,925 crore to SBI, Rs 7,089 crore to ICICI Bank, Rs 3,634 crore to IDBI
Bank, Rs 1,614 crore to Bank of Baroda, Rs 1,244 to PNB and Rs 1,228 crore to Indian Overseas
Bank.
● The Forensic Audit has shown that between 2012-17, the accused colluded together and
committed illegal activities including diversion of funds, misappropriation and criminal breach of
trust.
About CBI :
• Headquarters: New Delhi, Delhi, India
• Director General : Subodh Kumar Jaiswal
• Motto : Industry, Impartiality, Integrity
• It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions,
Government of India.
• The agency has been known to investigate several economic crimes, special crimes, cases of
corruption and other cases.
Page 42 of 84
About ABG Shipyard :
● Founded : 1985
● Headquarters : Mumbai, Maharashtra
● Chairman : Rishi Agarwal
● MD : Ram Swaroop Nakra
● Vice President : DP Gupta, Subas Gantayat
● ABG Shipyard is the flagship entity of ABG Group.
● ABG Shipyard Limited (ABGSL), shipyards has capacity to build vessels up to 18,000
deadweight tonnage (DWT) at Surat Shipyard and 1,20,000 deadweight tonnage (DWT) at
Dahej Shipyard.
Yes Bank launches Agri Infinity program
• YES BANK announced the launch of an annual startup enabler program, YES BANK Agri
Infinity, which seeks to co-develop digital financial solutions for the food and agriculture
ecosystem by mentoring entrepreneurial ventures in the field.
About YES BANK Agri Infinity Program :

• Agri-fintech startups working on financial innovations across the food and agriculture value
chain: could include origination, farmer on-boarding, farmer KYC, credit scoring, risk
assessment, monitoring and mitigation, disbursement & recovery solutions and cash
management systems among others
• Food and agritech start-ups
• Pivoting into agri-fintech and exploring the opportunity of adding a financing layer to their core
proposition
• Looking at prototyping and rolling out modern digital cash management and transaction
banking solutions across the food & agriculture value chain
Page 43 of 84
• The program will last up to six months, based on the maturity and readiness of the solution.
• It will culminate in a demo day that will explore the potential for partnered engagements for
scale-up.
Key Benefits :
• Access to YES BANK’s digital banking infrastructure and robust customer network
• Mentoring by senior banking professionals on credit scoring models, risk assessment and risk
mitigation
• Opportunity to work with bankers to design and prototype innovative digital financial solutions
• Project partnership - Opportunity to partner for piloting new innovative solutions
• Analysis of startup’s current digital financial solutions
• Equity infusion in select startups with matching value propositions
About Yes Bank :

• Chairman : Sunil Mehta
• MD & CEO: Prashant Kumar
• Founded: 2004
• Founders : Rana Kapoor, Ashok Kapur
Axis Bank set to buy Citigroup India retail banking business:
• Axis Bank Ltd. is nearing a deal to buy Citigroup Inc.’s India retail banking business in a
transaction that could be valued at about $2.5 billion.
Page 44 of 84
• An agreement for the consumer unit may be announced as soon as the next few weeks and is
contingent on approval from the Reserve Bank of India, asking not to be identified as the
information is private.
• The deal would include a cash component of less than $2 billion
PayU announces integration with BigCommerce to boost SMB digitalization
● PayU announced its integration with BigCommerce, an Open SaaS e-commerce platform for
fast-growing and established brands.
● PayU can provide payment infrastructure & solutions to BigCommerce's small-to-medium-
sized merchants in India.
● The BigCommerce platform provides e-commerce services to retailers, including online store
creation, search engine optimization, hosting, marketing and security.
● Businesses can directly integrate their BigCommerce store with PayU to offer India-specific
online payment methods like UPI and more.
Key benefits of the integration :
• Global BigCommerce merchants will get access to over 100-plus local payment methods in
India including credit cards, debit cards, UPI, wallet, net banking, etc.
• Merchants can initiate refunds directly from their BigCommerce store and get real-time updates
on refund status without switching to PayU infrastructure.
• Merchants get easy access to all transaction data like sales & refunds, view graphical
representation of trends and reports of transactions processed over a period of time.
Additional Info :
● PayU is regulated under the Reserve Bank of India and has solutions to meet the digital
payment needs of Indian merchants.
● It provides online payment solutions to businesses through local payment methods.
Page 45 of 84
● PayU also developed LazyPay in 2017, an alternate lending platform to offer credit solutions.
About PayU :
● Founded : 2002
● CEO : Laurent Le Moal
About BigCommerce :
• Founded: 2021, Sydney, Australia
• Headquarters: Austin, Texas, United States
• CEO : Brent Bellm
• Co-Founder, Executive Chairman : Eddie Machaalani
• BigCommerce is a NASDAQ-listed ecommerce platform that provides software as a service to
retailers.
KVB & UNANU Technologies tie-up for digital freight finance
• Karur Vysya Bank has joined hands with the Chennai-based UNANU Technologies for digital
freight finance to fund transport contractors using the end-to-end logistics technology
platform.
• KVB is the first bank to introduce digital freight financing through marketplace in the
banking sector.
• UNANU has built the Freight Financing System within their suite of software platforms.
• Using the module “U-Turbo – a marketplace”, one can on-board logistics companies and
shippers to Freight Financing programme.
• The platform has a complete visibility right from picking up the material from shipper (Proof of
Pick up) until it reaches the destination (Proof of Delivery).
• In transit, tracking of the truck is also provided with the associated software/hardware.
Page 46 of 84
• The digitised document at each stage is captured using the platform helping the bank to verify
its authenticity.
• The platform also has features to raise invoices to the shipper by the transport contractors
seamlessly capturing the digital freight finance system.
• These features will enable Karur Vysya Bank to fund, based on the invoice and other mandatory
documents that are available in the system.
About KVB :
• Founded: 1916
• Headquarters: Karur, Tamil Nadu
• Chairman : Mr. N. S. Srinath
• MD & CEO : Mr. Ramesh Babu
About UNANU Technologies Private Ltd :
• Headquarters : Chennai, Tamil Nadu
• CEO : Srini Sundar
DMI Finance to provide digital personal loans to Google Pay users
• DMI Finance, a credit platform, announced the launch of a personal loan product on Google
Pay to offer credit to pre-qualified users of the digital wallet platform.
• This product leverages the dual advantages of Google Pay’s customer experience and the
digital loan disbursal process of DMI.
• It will also help bring new-to-credit users into the ambit.
• The programme will disburse up to Rs 1 lakh per loan which would be repayable over a
maximum of 36 months.
• This partnership is being launched in over 15,000 pin codes.
Page 47 of 84
• Eligible users are pre-qualified using criteria set by DMI Finance and the product offer is made
available to them via Google Pay.
• These users will have their application processed in near real-time with access to the money in
their bank accounts.
About DMI Finance :
• Founded: 2008
• Headquarters: New Delhi, Delhi, India
• Co-founder and joint MD : Shivashish Chatterjee
Ministry of Finance grants Rs 1154.90 crore to Urban Local Bodies of Andhra Pradesh, Bihar,
Gujarat, and Sikkim:
● Department of Expenditure, Ministry of Finance has released an amount of 1154.90 crore
rupees to four states for providing grants to Urban Local Bodies.
● The States to which grants are Andhra Pradesh, Bihar, Gujarat, and Sikkim.
● The grants released are meant for Non-Million Plus cities including Cantonment Boards.
● The 15th Finance Commission in its report for the period from 2021-22 to 2025-26 has
divided the Urban Local Bodies into two categories.
● These are Million-Plus urban agglomerations and cities excluding Delhi and Srinagar, and all
other cities and towns with less than one million population.
● The 15th Finance Commission has recommended separate grants for them. Out of the
total grants recommended by the Commission for Non-Million Plus cities, 40 percent is a
basic grant and the remaining 60 percent is a tied grant.
RBI extends timeline by six months for NBFCS to adhere new NPA recognition norms:
● The Reserve Bank of India has extended the timeline by six months for Non Banking
Financial Companies to adhere to the new NPA recognition norms.
Page 48 of 84
● Earlier the regulator had set March 31 deadline for non-bank lenders to upgrade NPAs only
after all arrears and principal dues are paid.
● NBFCs will have time till September 30 to put in place the necessary systems to implement
this provision.
● The RBI also clarified that loans classified as NPA will be upgraded to standard category only if
all dues are paid.
Standard Chartered Bank launches interest-only home loan facility
● Standard Chartered Bank, announced the launch of its interest-only home loan facility.
● Interest-Only Home Loan is a facility provided for purchase of completed residential properties
where during a limited period of the loan tenure, the clients will pay only the interest accrued
on the principal outstanding - referred as interest only period’.
● No principal will be deducted during this interest only period.
● This product is available to new as well as existing clients of Standard Chartered Bank.
● This is applicable on loans ranging between ₹35 lakh to ₹3.5 crore, and the maximum tenure
set for the loan is 30 years for salaried individuals and 25 years for self-employed individuals.
● Customers can choose to pay only the interest amount through equated monthly installments
(EMIs) for an initial period of one-three years.
● After this interest-only period is over, the home loan facility will be treated like a normal loan
account where the EMIs comprise both the principal and interest till the maturity of the loan.
● Clients will also have the flexibility to commence their full instalments earlier with no penalty
fees.
Page 49 of 84
SIDBI launches waste to wealth creation programme in West Bengal
• Small Industries Development Bank of India (SIDBI) has launched the ‘Waste to Wealth
Creation programme for women in the Sundarbans in West Bengal’s South 24 Parganas
district.
• In this, ladies will make ornaments and showpieces from fish scales.
• Under this programme, SIDBI will extend benefits to 50 women in directly generating revenues
from alternate livelihoods.
• Later, these women are expected to become a trainer for replicating and disseminating the
knowledge among other aspirants.
• It is under the mission Swavalamban to support artisans to become sustainable.
About SIDBI :
• Headquarters: Lucknow, Uttar Pradesh, India
• Chairman & MD : Sivasubramanian Ramann
• Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall
licensing and regulation of micro, small and medium enterprise finance companies in India.
• It is under the jurisdiction of the Ministry of Finance , Government of India.
NITI Aayog Fintech month began on February 7, 2022; Theme- “OPEN”
• NITI Aayog in coordination with PhonePe, has started the Fintech Open Month from
February 07, 2022 .
• It's a three-week-long virtual summit organized from February 7–28, 2022.
• The Fintech Open month is a first-of-its-kind initiative bringing together regulators, Fintech
professionals and enthusiasts, industry leaders, the start-up community, and developers on
a common platform to collaborate, exchange ideas, and innovate.
Page 50 of 84
• Theme of the FinTech Month : OPEN’.
Three key objectives :
• Encourage an OPEN ecosystem across the FinTech industry
• Foster co-innovation and growth
• Ensure financial inclusion and leverage new models like Account Aggregator to unleash
the next wave of fintech innovation.
• Week One of the Fintech month included in-depth conversations, deep dives, and panel
discussions highlighting innovation, opinions, and diverse perspectives from industry
leaders.
About NITI Aayog :
• Formed: 1 January 2015
• Headquarters : New Delhi
• Chairperson : Narendra Modi
• Vice Chairperson : Rajiv Kumar
Twitter partners with Paytm to boost 'Tips' feature in India
• Twitter has partnered with Paytm Payments Services Limited, which is a wholly-owned
subsidiary of Paytm, India’s digital payments and financial services platform, to improve the
support for its ‘Tips’ feature in India.
• Through Tips, users can support their favourite creators or small business owners on Twitter
by using any Paytm Payment Instrument like Paytm UPI, Paytm Wallet, Paytm Postpaid
(buy-now-pay-later), debit and credit cards, and netbanking.
• Since November 2021, Tips is available to all individuals above 18 years of age on iOS and
Android in India.
Page 51 of 84
• It will support the creator community with monetization capabilities through payment
solutions offered by Paytm Payment Gateway and the flexibility of paying through Paytm
UPI, Paytm Wallet, Paytm Postpaid (buy-now-pay-later), debit and credit cards, and
netbanking.
• Tips on Twitter are available in multiple Indian languages including Bengali, Gujarati, Hindi,
Kannada, Marathi, Tamil.
About Twitter :
• CEO: Parag Agrawal
• Chairman : Bret Taylor
• Founded: 21 March 2006
• Headquarters: San Francisco, California, United States
NPCI International & Gateway Payment Service, and Manam Infotech join hands to deploy UPI
solution in Nepal
• NPCI International Payments Limited (NIPL), the International arm of National
Payments Corporation of India has joined hands with Gateway Payments Service Pvt
Ltd, authorized Payment System Operators in Nepal, and Manam Infotech Private
Limited to deploy Unified Payments Interface(UPI) in Nepal.
Objective :
• The firm intends to deploy UPI in Nepal for the larger "Digital Public Good" and to bolster
interoperable real-time Person to person (P2P) and Merchant payment transactions
(P2M).
• UPI is amongst the most successful real-time payments (RTP) systems globally, providing –
simplicity, safety, and security in person to person (P2P) and person to merchant (P2M)
transactions in India.
Page 52 of 84
• In 2021, UPI enabled 39 Billion financial transactions amounting to commerce worth USD
940 Billion, which is equivalent to approximately 31% of India’s GDP.
• UPI’s real-time payment infrastructure will help catalyze the process of financial inclusion in
Nepal and will also create more opportunities for businesses.
• It will help modernize Nepal’s digital payment infrastructure and bring the convenience of
digital payments to citizens of Nepal.
Note :
• Nepal shall be the first country outside of India to adopt UPI as the payments platform
driving the digitalization of cash transactions.
• NIPL CEO : Ritesh Shukla
About National Payments Corporation of India :
• Founded : 2008
• Headquarters : Mumbai, Maharashtra, India
About GPS :
• Rajesh Prasad Manandhar
• Gateway Payments Service Pvt Ltd is an authorized Payment System Operators in Nepal.
About Manam Infotech :
• Co-Founder & Director : Naga Babu Ramineni
• Manam Infotech is a leading Financial Services Technology platform powering dynamic,
cloud-based innovation in digital financial services.
IndusInd Bank to facilitate digital transactions on e-NAM
• IndusInd Bank has been empanelled by the Small Farmers Agri–Business Consortium
(SFAC) to facilitate digital collection and settlement services on the National
Page 53 of 84
Agriculture Market (e-NAM) portal for transactions between farmers and traders across
the country.
• IndusInd Bank has been directly integrated with e-NAM platform to provide safe and
hassle-free payments, clearing, and settlement services to the farmers and traders
• Under this agreement, the bank would provide a variety of financial services to the buyer
and seller of agricultural goods using digital modes such as multi-net banking, debit card,
NEFT, RTGS, IMPS, and UPI.
• As of January 2022, there are over 1.7 crore farmers and more than 1.8 lakh traders who
are registered on eNAM and have benefitted from the digital marketplace.
• The total value of agri-produce traded on eNAM is about ₹1.72 lakh crore.
About IndusInd Bank :
• MD & CEO: Sumant Kathpalia
• Founder: S. P. Hinduja
• Founded: April 1994
About e-NAM :
• Union Agriculture Minister : Narendra Singh Tomar
• National Agriculture Market or eNAM is an online trading platform for agricultural
commodities in India.
• The market facilitates farmers, traders and buyers with online trading in commodities
About SFAC :
• Managing Director : Neelkamal Darbari
• Located at : New Delhi
Page 54 of 84
• SFAC was established in 1994 under Societies Registration Act, 1860.
• It is an autonomous society promoted by the Ministry of Agriculture Cooperation and
Farmers’ Welfare, Government of India.
• SFAC is an exclusive society focused on increasing incomes of small and marginal farmers
through aggregation and development of agribusiness.
• It is progressing towards establishing an ecosystem for FPOs/FPCs to make them
sustainable and viable in the long run.
• It is also implementing the National Agriculture Market Electronic Trading (e-Nam)
platform.
Kotak Mahindra bank ties up with Ezetap for integrated PoS solutions
• Kotak Mahindra Bank has tied up with Ezetap to provide integrated Point of Sale (PoS)
solutions across 4,000 locations in India.
• The initiative will strengthen the bank’s presence in the digital payments market space.
• The partnership will enable KMBL to scale up its PoS product base across merchant
segments, including retail enterprises and government customers, which service lakhs of
customers on a daily basis.
• Through this association, Ezetap”s integrated and customised Point of Sale (PoS) solutions
will benefit scores of KMBL’s merchants in retail business spread across the country.
• It will give retail customers a way to pay through cards and digital modes across all
touchpoints in the purchase journey whether at the counter in-store or paying on delivery.
About Kotak Mahindra bank :

• Founded: February 2003
• Founder & CEO: Uday Kotak
Page 55 of 84
• Tagline: Let’s make money simple
SEBI : Separation of roles of Chairperson and MD made voluntary
• On Feb 15, 2022, The Securities and Exchange Board of India (SEBI) changed the
requirements for listed companies to separate roles of chairperson and managing director
(MD) or chief executive officer (CEO) to ‘voluntary’ from ‘mandatory’.
• Earlier the market regulator had asked the top 500 listed companies to split the role of
chairperson and MD or CEO before April 2022.
• In 2017, SEBI had set up a committee under Kotak Mahindra Bank’s chief executive Uday
Kotak to study corporate governance norms for the listed companies.
Objective :
• To provide a better and more balanced governance structure by enabling more effective
supervision of the management.
About SEBI :
• The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and
commodity markets in India under the ownership of the Ministry of Finance , Government of
India.
Fisdom partners with Bank of Maharashtra to offer wealth management services

• Fisdom, a wealth-tech company, has joined hands with Bank of Maharashtra (BoM), to
offer wealth management products and services to over 29 million customers of the
bank.
Page 56 of 84
About the Partnership :
• To distribute the wealth products and services through the bank”s network of more than
2,000 branches and its digital platforms, including the mobile banking app and internet
banking.
• Fisdom”s diverse wealth management offerings will enable customers of Bank of
Maharashtra to invest into mutual funds - through Bank of Maharashtra”s Mobile Banking
App Maha Mobile and Internet Banking facility.
• Customers will be able to view all the details pertinent to funds in order to make well-
informed decisions and also can track the performances of mutual funds real-time.
• Fisdom is also planning to expand its product suite and add multiple features to provide a
seamless investment experience to the customers.
• Fisdom offers a one stop platform for investing in multiple products including mutual funds,
direct equity, pension funds, HNI wealth products, etc to its customers.
About BoM :
● Founded: 16 September 1935
● Headquarters: Pune, Maharashtra
● CEO: A. S. Rajeev
Canara HSBC OBC Life Insurance launches Flexi Edge

• Canara HSBC Oriental Bank of Commerce Life Insurance has launched its new insurance
plan Flexi Edge, a non-linked participating individual savings life insurance plan that
enables the customers with the ability to prioritize their long-term savings.
• Flexi Edge addresses the growing needs of customers starting from savings to income and
unplanned or recurring expenses; along with providing life cover to the policyholder in the
unfortunate event of the death.
Page 57 of 84
• The plan offers customers the flexibility to choose from three options depending on their
individualistic requirements:
Flexi Savings
• It is a basic savings structure to serve various needs of the customer and offers lump sum
benefits equal to 100% of sum assured, loyalty additions and accrued bonuses at end of
the policy term.
• Once the insurance plan is coupled with Premium Protection Benefit, it becomes an ideal
investment to take care of child’s education & other needs even in absence of parents.
Flexi Income :
• It is the income variant of the plan to help take care of income needs and increasing
expenses of the policyholder.
• The policy offers a lump sum benefit equal to 50% of the sum assured at the end of
premium payment term in addition to guaranteed income & cash bonus every year post
completion of premium payment term till end of policy term.
• The policyholder is further entitled to lump sum benefits equal to 100% of sum assured and
accrued bonuses at end of the policy term.
Flexi Care :
• It is a whole life plan meant to take care of finances during the golden years of one’s life.
• The plan offers cash bonus every year from end of the 2nd policy year till end of the policy
term (100-age at entry) along with lump sum benefits equal to accrued guaranteed additions
at Milestone Age.
Page 58 of 84
• Additionally, the policyholder will receive a lump sum benefit equal to 100% of Sum Assured
and bonuses at the end of the Policy Term.
The Flexi Edge plan will provide policyholders with benefits like:
• Premium Protection Benefit - Waiver of future premiums on death of the Life Assured
• Deferred Survival Benefit Facility - A unique deferred survival benefit facility allows the
customer to deposit the survival benefits with the company under Flexi Income and Flexi
Care plan option.
About Canara HSBC Oriental Bank of Commerce Life Insurance Company :
• Founded: 16 June 2008
• Chairman : L.V. Prabhakar
• MD & CEO : Anuj Mathur
• Headquarters: Gurugram, Haryana
• It is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings
Limited (26%) and Punjab National Bank (23%).
WPI inflation eases to 12.96% in January from 13.56% in previous month:
• Wholesale price index (WPI)-based inflation rate decelerated to 12.96 per cent in January
from 13.56 per cent in December
• During January, while inflation for manufactured items eased to 9.42 per cent, food inflation
rate accelerated to double digits at 10.33 per cent mostly due to an unfavourable base.
• Fuel inflation rate marginally eased to 32.27 per cent in January from 32.3 per cent in
December.
• The decline in inflation rate for manufactured products was led by products including food,
beverages, tobacco, textiles, wood, paper, chemicals, rubber, cement, basic metals, steel among
others.
Page 59 of 84
BSE Ebix, LIC join hands for distribution of insurance products
● BSE Ebix Insurance Broking, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd,
signed an insurance broker agreement for the distribution of Life Insurance Corporation's (LIC)
products on its platform.
● Under this agreement, BSE EBIX will offer their clients insurance products offered by LIC such
as Life and Health, using its omni-channel digital presence.
Aim :
● To offer customer-centric solutions backed by technological innovations and best in class
services.
Note :
● MD and CEO at BSE : Ashishkumar Chauhan
SBI Report - India's GDP growth for FY22 at 8.8% and Q3 FY22 at 5.8%
● According to the latest edition of SBI's research report Ecowrap, India's gross domestic
product (GDP) is likely to grow at 5.8% in the third quarter of fiscal 2022.
● The FY22 GDP growth is now revised downwards to 8.8% from the earlier estimate of 9.3%.
● The real GDP will be around Rs 2.35 lakh crore more or 1.6% higher than the FY20 real GDP of
Rs 145.69 lakh crore.
● The country's economy expanded by 8.4 percent in the second quarter of 2021-22, to cross pre-
pandemic levels.
● However, the GDP growth in July-September period was slower than the 20.1 percent expansion
in Q1 FY22.
● The Nowcasting Model is based on 41 high frequency indicators associated with industry
activity, service activity, and global economy.
Page 60 of 84
● The high frequency indicators suggest some weakening of demand in Q3 also continuing to
January 2022, reflecting the drag on contact-intensive services.
● Rural demand indicators stated two-wheeler and tractor sales, continued to decline since August
2021.
● Amongst the urban demand indicators, consumer durables and passenger vehicle sales
contracted in Q3, while domestic air traffic weakened in the wake of the Omicron variant.
● The report suggested that the government can offer livelihood loans, say up to Rs 50,000 to rural
poor.
● If the government were to bear, 3 percent interest subsidy, on a portfolio of Rs 50,000 crore, the
outlay would be only Rs 1,500 crore during 2022-23.
● The report further stated that given the significant success of vaccination in the third wave in
rural pockets, the livelihood loans can be the silver bullet catapulting the broader economy to
unprecedented highs.
About SBI :
● Founded: 1 July 1955
● Chairperson: Dinesh Kumar Khara
Juspay Technologies launches OpenPPI to support Interoperability of Prepaid Instruments
● JusPay, a Softbank-backed digital payments infrastructure company, introduced OpenPPI.
● This software stack aids prepaid instruments (PPI) such as digital wallets in implementing
and complying with RBI’s PPI interoperability guidelines.
● Juspay claims that the existing and prospective PPI players can comply with the new
regulation by using this end-to-end secure cloud solution.
● The Reserve Bank of India (RBI) announced in May 2021 that by March 31, 2022, all full-
Page 61 of 84
KYC compliant prepaid cards and wallets must be fully integrated and mutually
compatible.
● The restrictions are intended to accelerate the transition from cash to PPI devices and
wallets for small and convenient payments.
● Juspay raised $60 million in a fundraising round led by SoftBank Vision Fund II last
December. SoftBank contributed $50 million, with the remaining funds coming from
current investors VEF and Wellington Management.
About Justpay :
● Co-Founder & COO : Sheetal Lalwani
RBI cancels license of Mantha Urban Cooperative Bank

● The Reserve Bank of India (RBI) has canceled the license of Mantha Urban Cooperative
Bank and consequently, the bank ceases to carry on banking business.
The Reserve Bank canceled the license of the bank as:
1. The bank does not have adequate capital and earning prospects & as such, it does not comply
with the provisions of section 11(1) and section 22 (3) (d) read with section 56 of the
Banking Regulation Act, 1949.
2. The bank has failed to comply with the requirements of section 22(3) (a), 22 (3) (b),
22(3)(c), 22(3) (d) and 22(3)(e) read with section 56 of the Banking Regulation Act, 1949.
3. The continuance of the bank is prejudicial to the interests of its depositors;
4. The bank with its present financial position would be unable to pay its present depositors in
full; and
5. Public interest would be adversely affected if the bank is allowed to carry on its banking
business any further.
Page 62 of 84
● Mantha Urban Cooperative Bank Ltd Manta, District: Jalna, Maharashtra is prohibited from
conducting the business of ‘banking’ which includes acceptance of deposits and repayment of
deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949
with immediate effect.
● On liquidation, every depositor would be entitled to receive deposit insurance claim amount of
his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five lakh only) from Deposit
Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of the DICGC
Act, 1961.
● As per the data submitted by the bank, more than 99% of the depositors are entitled to receive
the full amount of their deposits from DICGC.
● As on January 27, 2022, DICGC has sanctioned ₹39.95 crore of the total insured deposits under
the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from
the concerned depositors of the bank.
About RBI :
● Founded: 1 April 1935, Kolkata
● Headquarters: Mumbai, Maharashtra, India
● Deputy Governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar.
SEBI reconstitutes advisory panel for alternative investment policy
• Securities and Exchange Board of India (SEBI) has reconstituted its alternative
investment policy advisory committee, which advises the capital markets regulator on a
range of issues that impact further development of the AIF space.
• As per an update by the SEBI, now the committee has 20 members.
• The panel, constituted by Sebi in March 2015, earlier had 22 members.
Page 63 of 84
Members of the committee :
• The committee is chaired by Infosys co-founder N R Narayana Murthy.
• Apart from Murthy, the committee includes members from Sebi, Ministry of Finance, AIF
players and industry associations.
• According to Sebi, Gopal Srinivasan, Chairman and CEO of TVS Capital Funds; Gopal Jain, Co-
Founder and Managing Partner of Gaja Capital; Vipul Roongta, Managing Director and CEO of
HDFC Capital Advisors; and Renuka Ramnath, president of the Indian Private Equity and
Venture Capital Association (IVCA) are among the members of the panel.
• The panel is mandated to advise Sebi on any hurdles that might hinder the development of the
alternative investment industry.
• Any other item relevant to the segment as well as development of the startup ecosystem in
India.
• The committee has been entrusted with the task of advising Sebi on any issues which need to
be taken up with other regulators for development of the alternative investment industry.
About SEBI:
• It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through
the SEBI Act, 1992.
Govt. of India, World Bank sign loan agreement of $115 million for implementation of REWARD
Project
• The Government of India, the State Governments of Karnataka and Odisha and the
World Bank have signed a $115 million (INR 869 crore) Programme (Rejuvenating
Watersheds for Agricultural Resilience through Innovative Development Programme).
Page 64 of 84
Aim :
• To help national and state institutions adopt improved watershed management practices to
help increase farmers’ resilience to climate change, promote higher productivity and better
incomes.
• The International Bank for Reconstruction and Development (IBRD) financing will support
• Karnataka with $60 million (INR 453.5 crore),
• Odisha with $49 million (INR 370 crore),
• $6 million (INR 45.5 crore) will be for the central government’s Department of Land
Resources.
• The $115 million (INR 869 crore) loan has a maturity of 15 years, including a grace period of
4.5 years.
• The Government of India has committed to restoring 26 million hectares of degraded land by
2030 and doubling farmers’ income by 2023.
About REWARD Project :
• REWARD is being implemented in three to four Indian States & It is proposed as a 6 years
Project from 2021 to 2026.
Objective :
• The outcomes are prevention of soil run-off, regeneration of natural vegetation, rainwater
harvesting and recharging of the groundwater table.
• This enables multi-cropping and the introduction of diverse agro-based activities, which
help to provide sustainable livelihoods to the people residing in the watershed area.
About World Bank :
• Founded: July 1944
• Headquarters: Washington, D.C., United States
Page 65 of 84
• President: David Malpass
• MD & CFO : Anshula Kant
• Motto: Working for a World Free of Poverty
• Founders: John Maynard Keynes, Harry Dexter White
About Ministry of Finance :
• Union Minister : Nirmala Sitharaman
• Minister of State : Bhagwat Karad, Pankaj Choudhary
JPMorgan becomes first major bank in the metaverse
• The largest bank in the United States, JPMorgan, has become the first bank to enter the
metaverse by opening a lounge in Decentraland, a virtual world based on blockchain
technology.
• Users can create their virtual avatars, build virtual spaces and roam in the lounge christened
‘Onyx Lounge’ after its suite of ethereum-based services.
• The lounge has been named as Onyx lounge and has an image of CEO of JPMorgan, Jamie
Dimon.
About metaverse :
• Metaverse is a virtual universe where users can do multiple activities like socialising,
shopping or even attending events through their avatar.
• Augmented Reality (AR) and Virtual Reality (VR) headsets are becoming more pocket-
friendly, and both technologies have together contributed to a significantly enhanced user
experience.
About JPMorgan :
• Founded: 1 December 2000
• Headquarters: New York, United States
Page 66 of 84
• Chairman & CEO: Jamie Dimon
• Presidents: Gordon A. Smith, Daniel E. Pinto
Equitas Small Finance Bank raises Rs 550 crore from government of Singapore, others
• Equitas Small Finance Financial institution has raised Rs 550 crore from the federal
government of Singapore, Singapore’s central financial institution and a number of
native mutual funds within the certified institutional placement of equities.
According to reports,
• The government of Singapore - about Rs 155 crore
• The Monetary Authority of Singapore - Rs 36 crore in the QIP
• Mutual funds (Nippon Life India Trustee, SBI Mutual Fund, ICICI Prudential, HDFC
Mutual Fund and HDFC Trustee Firm) - Rs 359 crore in the QIP.
• The financial institution bought the shares at Rs 53.59 apiece, which is at a low 5 per cent
low cost to the ground worth of Rs 56.40.
• The value features a premium of Rs 43.59 over the face worth of Rs 10 per share.
• The inventory was at Rs 53.45 on BSE .
• The share sale by way of certified institutional placement (QIP) will scale back the
promoters holding to 75 per cent and lift public shareholding to a minimum of 25 per cent, as
stipulated by the market regulator Securities & Change Board of India.
About Equitas Small Finance Bank :
• Founded: 2016
• Headquarters: Chennai, Tamil Nadu
• MD & CEO : Vasudevan P N
• Part-time Chairman : Arun Ramanathan
Page 67 of 84
BOB Financial and IRCTC launch co-branded Rupay Contactless Credit Card
● BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB),
and the Indian Railway Catering and Tourism Corporation Ltd (IRCTC) have launched the
IRCTC BoB RuPay contactless credit card.
Features :
● The card is specially curated to offer maximum savings to frequent railway travelers & it
offers a 1% transaction fee waiver for the customers on all their train ticket bookings.
● The card will offer a 1% fuel surcharge waiver across all petrol pumps in India.
● Cardholders can use this card to transact at international merchants and ATMs through the JCB
network.
● The card will be able to earn up to 40 reward points ( ₹100 spent) on 1AC, 2AC, 3AC, CC, or EC
bookings made through the IRCTC website or mobile app.
● Customers making a single purchase worth ₹1,000 or more within 45 days of card issuance will
get 1,000 bonus reward points.
● It will offer 4 reward points ( ₹100 spent) on grocery and departmental stores.
Mastercard partners with SBI Payments to boost digital payments acceptance infrastructure in
Guwahati, Lucknow and Varanasi
• As an extension of its flagship campaign ‘Team Cashless India’, Mastercard partnered with
the Auto Rickshaw Association in Lucknow, All Assam’s Restaurant Association (AARA)
in Guwahati, local shopkeepers, and Boat Union in Varanasi to bolster the digital
payments infrastructure.
• In Lucknow the partnership enables more than 700 auto-rickshaw drivers to accept digital
payments.
• In Varanasi, to encourage over 1,000 members to accept digital payments from tourists.
Page 68 of 84
• Meanwhile, in Guwahati the collaboration is in line with the Government’s ‘Digital
Northeast Vision 2022’, this initiative equips restaurant and hotel owners with a safe,
seamless, secure mode of payment to consumers.
Additional Info:
• The volume of India's digital payments industry grew from 1,459.02 Crore transactions in
FY 2017-18 to 4,371.18 Crore transactions in FY 2020-21.
Recent News:
• Mastercard announced a strategic equity investment in Instamojo, a full-stack digital
solutions provider for MSMEs.
• Sampad Swain, Akash Gehani, and Aditya Sengupta established Instamojo as a small
business payment processor in 2012.
About Mastercard:
● Headquarters: New York, United States.
Paytm Payments Bank Becomes Acquiring Partner for e-RUPI Service
• Paytm Payments Bank Limited (PPBL) has become an official acquiring partner for e-
RUPI vouchers, further making it accessible at offline stores across India.
About e-RUPI :
• e-RUPI is a cashless prepaid voucher that beneficiaries can present through SMS or QR
Code.
Recent News :
• In Dec 2021, Paytm Payments Bank was given the scheduled bank status by the Reserve
Bank of India.
Page 69 of 84
• The bank has been included in the Second Schedule to the Reserve Bank of India Act,
1934.
About PPBL:
• Headquarters: Noida, Uttar Pradesh
• CEO : Satish Kumar Gupta
TripMoney partners with SBM Bank India to launch global credit card
• TripMoney, the fintech arm of MakeMyTrip, and SBM Bank India have partnered to launch a
rupee-denominated secure credit card TripMoney Global card.
About TripMoney Global card :
• The TripMoney Global card offers multiple value-added benefits including zero forex mark-up,
lifetime free validity and 100 per cent digital in-app card management.
• The card is powered by Visa and can be used across over 150 countries.
• The card carries no hidden charges such as currency exchange conversion across POS, ATMs,
and eCommerce websites - offering transparency to travelers.
About MakeMyTrip :
• Headquarters : Gurugram, Haryana, India
About SBM Bank India :
• MD & CEO : Sidharth Rath
Edelweiss General Insurance Partners Ashv Finance for MSME Loan Protection Plans
• Digital Insurer Edelweiss General Insurance (EGI) has joined hands with Ashv Finance, a
tech-led NBFC present in over 100 locations in India, to offer financial protection to the latter's
business loan borrowers.
• Ashv is offering timely credit to fund the growth aspirations of small businesses and MSMEs,
EGI will ensure health insurance cover to safeguard the financial interest.
Page 70 of 84
• As per the Partnership, it will provide security against the business loan taken in case the
borrower has an unfortunate incident of accident or critical illness.
• The policy will also provide daily cash benefits in case of any hospitalization.
Recent News :
• In May 2021, InsurTech start-up Edelweiss General Insurance (EGI), launched IPOS
(Integrated Partner On-boarding Solution).
• IPOS is a unified portal for all partner related onboarding requirements.
About Edelweiss General Insurance :
About Ashv Finance :
• Director & CEO : Nikesh Kumar Sinha
HDFC Bank Finances Asia’s Largest ‘Waste-To-Energy’ Plant In Indore, MP
• HDFC Bank has been associated with Indore Clean Energy Private Limited (ICEPL) for the
development of 550 tonnes/day of Municipal Solid Waste (MSW) to Compressed Biogas
(CBG) plant - the largest Bio-CNG plant in Asia located in Indore, Madhya Pradesh.
• This is the largest waste to energy project funded by HDFC Bank under its ESG commitments.
• The plant is expected to treat 50 percent of municipal waste generated in Indore City and
convert to 100 percent green products (biogas and manure).
• This funding is a part to mitigate the negative effects of climate change and make the bank
carbon neutral by 2031-2032.
Recent News :
● Prime Minister Narendra Modi virtually inaugurated the municipal solid waste based Gobar-
Dhan plant and dedicated it to the citizens of Indore City, Madhya Pradesh.
Page 71 of 84
● The plant has the capacity to treat 550 tonnes per day of segregated wet organic waste.
● It is expected to produce around 17,000 kg per day of CNG and 100 tonnes per day of organic
compost.
About HDFC Bank :
• CEO: Sashidhar Jagdishan
About MP:
• Chief minister: Shivraj Singh Chouhan
• Governor : Mangubhai C. Patel
• Capital: Bhopal
Moody’s projects India’s growth estimates to 9.5% in CY2022, 8.4% for FY23
• Moody’s Investors Service raised India’s growth forecast to 9.5 percent for the calendar
year 2022 (Earlier it was 7 percent) and to 8.4 percent for FY23.
• It maintained a forecast for 5.5 percent growth in CY2023.
Note :
• Union Budget 2022 prioritizes growth, with a 36 percent increase in allocation to capital
expenditure to 2.9 percent of gross domestic product for FY23.
RBI directs NBFCs to implement CFSS by September 2025
• The Reserve Bank asked a certain class of Non-Banking Financial Companies (NBFC) to
mandatorily implement 'Core Financial Services Solution (CFSS)' by September 30, 2025.
• NBFC-Upper Layers (UL) have to also ensure that the CFSS is implemented at least in 70
percent of ‘Fixed point service delivery units’ on or before September 30, 2024.
• Core Financial Services Solution (CFSS) for NBFC is similar to what Core Banking Solution
(CBS) is for banks.
Page 72 of 84
• The implementation of CFSS is not mandatory for NBFC – Base Layer and NBFC – Middle
and Upper Layers with less than 10 ’Fixed point service delivery units.
• According to the scale-based framework for NBFCs, the middle layer consists of all deposit
taking NBFCs, irrespective of asset size, non-deposit taking NBFCs with asset size of Rs 1,000
crore and above.
• A quarterly progress report on implementation of the Core Financial Services Solution, along
with various milestones as approved by the Board / Committee of the Board, shall be furnished
by the NBFC to the Senior Supervisory Manager (SSM) Office of Reserve Bank starting from
quarter ending March 31, 2023.
• This circular is issued under Sections 45L and 45M of Reserve Bank of India Act,1934.
Recent News :
• The Reserve Bank of India (RBI) has introduced a revised scale-based regulatory
framework for non-banking financial companies (NBFCs) - Scale Based Regulation (SBR).
• The regulatory structure for NBFCs will have 4 layers & these layers will be structured based on
their size, activity, and perceived riskiness.
About RBI :
• Deputy Governor : governors Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi
Shankar.
Page 73 of 84
Union MSME Minister Narayan Rane launches Union Bank MSME RuPay Credit
• On February 25, 2022, Union Minister for Micro, Small & Medium Enterprises, Shri
Narayan Rane launched the Union MSME RuPay Credit Card of Union Bank of India at
the MSME Conclave being held in Sindhudurg district of Maharashtra.
• The card is being offered by Union Bank of India.
• It provides a simplified payment mechanism to MSMEs to meet their business-related
operational expenses.
• The cards for MSMEs will be available to eligible borrowers of Union Bank of India.
Benefits:
• Anytime digital payments,
• Interest-free period
• Carry interest rate similar to the rate charged for loans
• Offers the EMI facility to the customers on their business-related purchases.
Recent News:
• In March 2021, Union Bank of India launched “UNI – CARBON CARD”, an HPCL co-
branded credit card on the Rupay platform of NPCI.
• This card is a contactless Tap & Go” and an NCMC card in line with Govt. of India’s
directives.
• The card limit offered is 20% of gross Annual income with minimum of Rs 50,000/- with no
upper limit.
About Union Bank of India :
• Founded : 11 November 1919
• MD & CEO : Rajkiran Rai G
Page 74 of 84
About NPCI :
• Founded : 2008
About Ministry of Micro, Small & Medium Enterprises :
• Cabinet Minister : Narayan Rane
• Minister of State : Bhanu Pratap Singh Verma
Brickwork Ratings : GDP growth likely to be around 8.3% in FY22
• According to Brickwork Ratings, revised downwards India’s GDP growth forecast to 8.3
percent in the current fiscal 2021-22 (FY22).
• Earlier the ratings agency had given a forecast of 8.5 to 9 per cent for FY22.
• As per the advance estimate for FY22 released by the Ministry of Statistics and Programme
Implementation (Mospi), the GDP is estimated to grow at 9.2% in real terms.
About Brickwork Ratings:
• Founded : 2007
• Brickwork Ratings is one of the seven Sebi-registered credit rating agencies (CRA).
RBI cancels registration certificate of P C Financial Services operating 'Cashbean' app
• The Reserve Bank of India (RBI) has canceled the certificate of registration issued to PC
Financial, which carries out lending operations through an app called Cashbean.
• This is the first instance of regulatory action against an entity, due to a surge in
complaints against usurious and unfair recovery practices being followed by several digital
lenders.
• In exercise of the powers conferred under Section 45-IA (6) (iv) of the Reserve Bank of
India Act, 1934.
Page 75 of 84
Additional Info :
• The Directorate of Enforcement (ED) had seized bank/payment gateway funds worth Rs
288 crore belonging to PC Financial Services via three seizure orders issued under the
provisions of the Foreign Exchange Management Act, 1999 (FEMA).
Recent News:
• On Feb 15, 2022, The RBI canceled the license of Mantha Urban Cooperative Bank Ltd.,
Mantha, District: Jalna, Maharashtra.
About RBI :
• Founded: 1 April 1935, Kolkata
• Deputy Governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi
Shankar.
About PC Financial Services Private limited:
• Founded : 1995
NHPC inks pact with HDFC Bank to monetise RoE of Chamera-I Power Plant
• NHPC has inked a pact with HDFC bank to securitise return on equity (RoE) of its 540-
MW (3 X 180 MW) Chamera-I Power Plant in Himachal Pradesh.
• The amount of the securitisation facility has been arrived at Rs 1,016.39 crore or 5.24 per
cent per annum discounting rate linked with three-month T-bills.
Recent News :
• In December 2021, NHPC's board had approved the proposal for monetisation by
securitisation through bidding process of return on equity (RoE) of Chamera-1 Power
Station (3 X 180 MW), Himachal Pradesh.
Page 76 of 84
• To monetise RoE of one or more power stations for 5 or 10 or 15 years in one go or rollover.
About National Hydroelectric Power Corporation Limited :
• Founded : 1975
• Chairman & Managing Director : Abhay Kumar Singh
• It comes under the ownership of the Ministry of Power, GoI.
About HDFC Bank Limited :
• Founded : 1994
• Chairman : Atanu Chakraborty
Star Health & South Indian Bank announce Bancassurance tie-up to offer Health Insurance
• South Indian Bank has joined hands with Star Health and Allied Insurance Co. Ltd., as a
corporate agent to provide a slew of innovative health insurance products for the Bank’s
more than 6.5 million customers spread over 923 branches across India.
• The strategic tie-up help us reach out to their customers and enable them to financially
safeguard themselves from rising healthcare costs.
Recent News :
• At the 17th edition of the annual IBA Banking Technology Awards, the Kerala-
headquartered South Indian Bank has bagged six awards, including ‘Best Technology
Bank of the Year.
• The IBA Awards celebrating “Next Gen Banking” has recognized technologies and practices
in the banking industry that have demonstrated a high degree of innovation over in 2021.
About SIB :
• Headquarters: Thrissur, Kerala
• Chairman : Salim Gangadharan
Page 77 of 84
About Star Health and Allied Insurance Co. Ltd :
• Founded : 2006
• CEO : V Jagannathan
• Managing Director : Mr. Anand Roy
SEBI extends deadline for client-level segregation of funds:
• The Securities and Exchange Board of India (Sebi) has extended the deadline for
implementation of client level segregation of funds and monitoring of collateral at stock
brokers to May 2.
• In July last year, the regulator came out with guidelines on client-level segregation amid
instances of misuse of client collateral by brokers.
Related News:
Sebi revises disclosure format for abridged prospectus:
• The Securities and Exchange Board of India (Sebi) has revised the disclosure format for the
abridged prospectus.
• It is aimed at simplifying and providing greater clarity and consistency in the disclosures across
various documents and to provide additional but critical information in the abridged prospectus.
Ideal Finance rebrands itself to Mahindra Ideal Finance:
• Ideal Finance, a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance/
MMFSL), has announced the rebranding of its company name to Mahindra Ideal Finance
(MIFL).
• This rebranding will form the bedrock on which the two joint venture partners (Mahindra
Finance and Ideal Group) will build the vision of making Mahindra Ideal Finance one of the
leading licensed finance companies
Page 78 of 84
Expected Questions
1. The Reserve Bank, it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd
that is located in which place? Lucknow, UP
2. Tata Group has chosen State Bank of India, Bank of Baroda and ___________ as preferred
bankers for Air India? HDFC Bank
3. GST revenue collected in the month of January, 2022 is ___________? Rs 1,38,394 crore
4. Which bank and Patanjali Ayurved Limited (PAL) have launched co-branded contactless credit
cards in partnership with NPCI? Punjab National Bank (PNB),
5. According to CRISIL report India’s GDP growth for FY23 is? 7.8%
6. Dukaan partners with Simpl to provide BNPL service to merchants. What is the full form of
BNPL? Buy Now, Pay Later.
7. Which General Insurance company has launched an AI Voice Bot to enable its customers
intimate insurance motor claims? Edelweiss General Insurance (EGI)
8. Reserve Bank of India has canceled the license of Independence Co-operative Bank Ltd., it is
located in which place? Nashik, Maharashtra
9. Which insurance company partners with Policybazaar for digital distribution of life insurance
products? Life Insurance Corporation LIC
10. Ministry of Finance releases PDRD Grant of 9,871 crore rupees to 17 States. What is the full
form of PDRD? Post Devolution Revenue Deficit (PDRD)
11. Kotak Mahindra General Insurance partners with _________to offer Motor Insurance? CARS24
12. The Asian Development Bank committed a record of _____________ in sovereign lending to India
in 2021? $4.6 billion
13. ICICI Lombard General Insurance Company partners with which payment bank to offer Cyber
Insurance? Airtel Payments Bank
Page 79 of 84
14. RBI extends restrictions on Karnataka's Millath Co-Operative Bank till __________? May 7, 2022.
15. PM CARES Fund Corpus Triples to how much rupees in FY 2020-21? Rs 10 990 Cr
16. RBL Bank partners with Creditas Solutions to automate collections for its which platform? ‘Neo
Collections’ platform.
17. RBI enhances VRR cap for foreign investors by Rs 1 lakh crore. What is the full form of VRR?
Voluntary Retention Route (VRR)
18. What is the current Reverse Repo Rate? 3.35
19. NABARD Introduces 'JIVA' to Promote Natural Farming in how many states? 11 States
20. Aditya Birla Health Insurance inks bancassurance partnership with which Small Finance Bank?
Utkarsh Small Finance Bank.
21. Reserve Bank of India (RBI) emerged as the __________ largest buyer of Gold among the world's
Central Banks in 2021? 2nd Largest Gold Buyer
22. RBI increases e-RUPI Voucher Limit to Rs 1,00,000 from how much amount? Rs 10,000.
23. Which bank has partners with NSE Academy to offer five online courses? State Bank of India
24. Paisabazaar ties up with which private bank to offer credit card? RBL bank
25. Which Payment Bank has highest penetration in digital payments? Paytm Payment Bank
26. CBI finds which Shipyard in Rs 22,842 crore bank fraud? ABG Shipyard
27. Which bank has been recently launches Agri Infinity program? Yes Bank
28. Axis Bank set to buy Citigroup India retail banking business for how much price? $2.5 billion.
29. Which Fintech company announces integration with BigCommerce to boost SMB digitalization?
PayU
30. DMI Finance to provide digital personal loans to ___________users? Google Pay
31. RBI extends timeline by six months for NBFCS to adhere new NPA recognition norms till which
date? September 30
Page 80 of 84
32. Which bank has recently launched interest-only home loan facility? Standard Chartered Bank
33. Which Social Media giant partners with Paytm to boost 'Tips' feature in India? Twitter
34. Which Bank to facilitate digital transactions on e-NAM? IndusInd Bank
35. Kotak Mahindra bank ties up with ____________for integrated PoS solutions? Ezetap
36. Fisdom, a wealth-tech company, has joined hands with which bank to offer wealth
management products and services? Bank of Maharashtra (BoM)
37. Canara HSBC Oriental Bank of Commerce Life Insurance has launched its new insurance plan
___________? Flexi Edge
38. Wholesale price index (WPI) inflation eases to ___________% in January from 13.56% in previous
month? 12.96%
39. SBI Report - India's GDP growth for FY22 at _______%? 8.8 %
40. Which technology platform has launches OpenPPI to support Interoperability of Prepaid
Instruments? Juspay Technologies
41. Govt. of India, World Bank sign loan agreement of $115 million for implementation of which
project? REWARD Project
42. Which Bank has recently becomes first major bank in the metaverse? JPMorgan,
43. Which Small Finance Bank raises Rs 550 crore from government of Singapore? Equitas Small
Finance Bank
44. Which Payments Bank Becomes Acquiring Partner for e-RUPI Service? Paytm Payments Bank
Limited (PPBL)
45. TripMoney partners with which bank India to launch TripMoney global credit card? SBM Bank
46. Which General Insurance Partners Ashv Finance for MSME Loan Protection Plans? Digital
Insurer Edelweiss General Insurance (EGI)
47. Which bank Finances Asia’s Largest ‘Waste-To-Energy’ Plant In Indore, MP? HDFC Bank
Page 81 of 84
48. Moody’s projects India’s growth estimates to _______% in CY2022, ________% for FY23? 9.5% in
CY2022, 8.4% for FY23
49. According to Brickwork Ratings GDP growth likely to be around ________in FY22? 8.3%
50. Star Health & which bank announce Bancassurance tie-up to offer Health Insurance? South
Indian Ban
Must Know Facts
The project readiness financing (PRF): It will finance the preparation and engineering design of the
KPCIP and possible future pipeline of urban projects in KPK. The PRF will ensure high project
readiness of the KPCIP, thereby facilitating the timely and cost-effective achievement of the project
outcomes.
Neobank: A neobank is basically a digital bank without any physical branches. It is entirely online
without being present at any specific location. It covers within its ambit various financial service
providers who cater to present day tech-savvy customers. Neobanks can be understood as fintech
firms providing digitised and mobile-first financial payment solutions and money transfers, money
lending and so on.
Instead of being physically present at a particular location, neo banking is entirely online. It is an
umbrella of financial service providers who attract today’s tech-savvy customers. Neobanks do not
have a bank license of their own but rely on bank partners to offer bank licensed services.
Hybrid Banking: In a Hybrid model, there is seamless integration of financial services into the digital
solutions to meet the demands of today’s new age customer and the socio-economic environment. In
a hybrid banking model, financial institutions combine the brick and mortar physical banking approach
with virtual banking. This approach leverages the Internet as a strategic tool to offer complex products
at lower costs, without compromising on quality of services. Moreover, to survive cut-throat
Page 82 of 84
competition in the sector and to leverage the new opportunities of online and mobile banking
facilitated by the Internet, banks have no option but to innovate and adapted a hybrid, 'clicks and
mortar' model.
Cryptocurrency - A cryptocurrency is a digital or virtual currency that is secured by cryptography,
which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are
decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate
network of computers. A defining feature of cryptocurrencies is that they are generally not issued by
any central authority, rendering them theoretically immune to government interference or
manipulation.
The Bharat Bill Payment System (BBPS) – This is an RBI conceptualised system driven by National
Payments Corporation of India (NPCI). It is a one-stop payment platformfor all bills, providing an
interoperable and accessible “Anytime Anywhere” bill payment service to customers across the
country with certainty, reliability and safety of transactions.
For More Daily Current Affairs - Click Here
Download Daily Score Booster Practice Questions PDF for Upcoming Bank Prelims Exam
Download Daily Score Booster Practice Questions PDF for Upcoming Bank Mains Exam
Download Daily Score Booster Practice PDFs for Upcoming SSC & Railway Exams
Download Ultra-Bundle PDF for Upcoming Competitive Exams
Special Paid Bundle PDF for Upcoming Exams
Monthly Current Affairs PDF Capsule 2022 | Monthly One Liner Capsule PDF
Page 83 of 84
Last 6 Months Current Affairs PDF | Expected Monthly Current Affairs Questions
THE COMPLETE Static GK Capsule for Upcoming Exams
The COMPLETE Static Banking Awareness PDF
Check Here for Free Reasoning PDFs | Free Quantitative Aptitude Questions PDFs
Join Our What’s App Group & Get Instant Notification on Study Materials & PDFs
Click Here to Join Our Official Telegram Channel
Page 84 of 84

Only Banking Feb

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Only Banking Feb

Uploaded by

Copyright:

Available Formats

Only Banking February - 2022

Reserve Bank of India

Small Savings Scheme Interest Rate

Small Savings Scheme Annual Interest Rate

1.Public Provident Fund (PPF) 7.1 %

2.National Savings Certificate (NSC) 6.8 %

3.Kisan VikasPatra (KVP) 6.9 %(124 months maturity)

4.Sukanya Samriddhi Account 7.6 %

5.Senior Citizen Savings Scheme 7.4 %

Standard & Poor’s (S&P) 9.5% 7.8%

State Bank of India (SBI) 8.8%

World Bank 8.3% 8.7%

International Monitory Fund 9% 7.1%

Moody’s 9.5% 8.4%

Asian Development Bank (ADB) 10%

India Ratings & Research (Ind- 8.6% 7.6%

Confederation of Indian Industry 9.5%

CRISIL 9.5% 7.8%

Fitch 8.4% 9.5%

World Economic Outlook released 9.5%

Goldman Sachs 9.1% 9.8%

OECD 9.4% 8.25%

Oxford Economics 10.2%

Economy Survey 11%

DBS (Development Bank of 7%

Brickwork Rating 8.3%

General Banking Awareness

Reserve Bank of India

RBI (Reserve Bank of India):

Functions of Reserve Bank:

2. Banker to the Government:

4. Controller of the Credit:

5. Custodian of Foreign Reserves:

Deposit Insurance and Credit Guarantee Corporation (DICGC):

• Establishment: July 15, 1978

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL):

• Establishment: February 3, 1995 under the Companies Act 1956

Reserve Bank Information Technology Pvt Ltd (ReBIT):

Important Sections in Reserve Bank of India Act 1934

• Section 17. Business which the Bank may transact.

Banking and Finance

SEBI overhauls high-power advisory committee on settlement orders

● The continuance of the bank is prejudicial to the interests of its depositors

● CEO: Bhargav Dasgupta

● CEO: Anubrata Biswas

RBL Bank partners with Creditas Solutions to automate collections

About Aditya Birla Health Insurance :

• Earlier, the single-use cashless payment voucher had a cap of ₹10,000.

SBI partners with NSE Academy to offer five online courses

Yes Bank launches Agri Infinity program

About YES BANK Agri Infinity Program :

• Project partnership - Opportunity to partner for piloting new innovative solutions

• Analysis of startup’s current digital financial solutions

• Equity infusion in select startups with matching value propositions

About Yes Bank :

About Kotak Mahindra bank :

Fisdom partners with Bank of Maharashtra to offer wealth management services

Canara HSBC OBC Life Insurance launches Flexi Edge

RBI cancels license of Mantha Urban Cooperative Bank

For More Daily Current Affairs - Click Here

Download Ultra-Bundle PDF for Upcoming Competitive Exams

Special Paid Bundle PDF for Upcoming Exams

THE COMPLETE Static GK Capsule for Upcoming Exams