State Bank of India has signed an MoU with Kathmandu-based National Banking Institute (NBI) for the development of human resources of the latter. Under the MoU, the strategic training unit of SBI will impart education, training and development to facilitate transformation of NBI’s HR department. 

SBI signed the three-year MoU with NBI to establish a mutually beneficial strategic alliance for development of NBI’s human resources by imparting education, training and research. 

• SBI Chairman– Rajnish Kumar, Headquarters– Mumbai. 

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The Centre in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds 2018-19. The Sovereign Gold Bonds will be issued every month from October to February 2019. 

The 2018-19 Series II tranche will be issued on 23rd of October and the period of submission is 15th to 19th of October. The Bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges National Stock Exchange of India Limited and Bombay Stock Exchange Limited. 

National Housing Bank (NHB) has decided to increase the Refinance Limit from Rs. 24,000 crore to Rs.30,000 crore for the Current Year (July 2018-June 2019) towards refinancing eligible institutions. Now, eligible Housing Finance Companies & Other entities will have increased availability of funds.

Till date, Rs.8835 crore has been sanctioned.  This refinancing is a credit flow to Housing Finance Companies & other Institutions. As a regulator, NHB regularly monitors the liquidity position of Housing Finance Companies. 

The Reserve Bank of India issued guidelines for operating Electronic Trading Platforms (ETPs) to transact in eligible instruments. Trading on electronic platforms is being encouraged across the world as it enhances pricing transparency, processing efficiency and risk control. 

As per the norms issued by the central bank ETPs will mean any electronic system, other than a recognised stock exchange, on which transactions in eligible instruments. ETP Operator’ shall mean an entity authorised by the Reserve Bank to operate an ETP under these Directions. 

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On the occasion of Birth Anniversary of Mahatma Gandhi, Small Industries Development Bank of India (SIDBI), had launched a National Level Entrepreneurship Awareness Campaign, Udyam Abhilasha in 115 Aspirational Districts identified by NITI Aayog in 28 States and reaching to around 15,000 youth. 

SIDBI will join to contribute to “the transformation mission” unleashed for these districts. The campaign would create and strengthen cadre of more than 800 trainers to provide entrepreneurship training to the aspiring youths across these districts thus encouraging them to enter the admired segment of entrepreneurs.

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The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives. According to RBI statement, the penalty was imposed for non-compliance with its directions on “Income Recognition and Asset Classification (IRAC) norms, reporting of frauds, and on the need for discipline at the time of opening of current accounts”. 

The Reserve Bank of India (RBI) barred Bandhan Bank from opening new branches and also ordered freezing of the bank’s CEO salary over failure to stick to shareholding rules. 

The Bank was not able to bring down the shareholding of Non-Operative Financial Holding Company (NOFHC) to 40% as required under the licensing condition, general permission to open new branches stands withdrawn. 

The Reserve Bank of India allowed banks to dip further into statutory cash reserves in a bid to ease a liquidity squeeze afflicting the nation’s money markets. The move by the central bank follows concerns over tight liquidity conditions and banks’ unwillingness to lend to NBFCs. 

As per the RBI, banks could ‘carve out’ up to 15% of holdings under the statutory liquidity reserves to meet their liquidity coverage ratio (LCR) requirements as compared to 13% now.