Daily Banking and Economics Affairs for IBPS, RBI, SBI, NABARD Exam. Latest Banking, Economy and Financial Affairs. Read Latest Business News from Banking Sector, Corporate, Financial Institution in Detail.
Banking and Economics Affairs is one of the Most prominent sector in General Awareness Section of any Banking Exams like SBI PO, IBPS PO, RBI GRADE B, NABARD Grade A, LIC AAO, SBI Clerk, SEBI Grade A etc.
We are here for you to provide the important Recent and Latest Banking Current Affairs from 14th - 15th September 2021, which have unique updates of Latest Current Affairs 2021 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.
Our Current Affairs September 2021 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, Try our Monthly Current Affairs 2021 PDF and Monthly PIB Summary PDF which will be a pedestrian to crack your exams
RBI announces Opening of Third Cohort under the Regulatory Sandbox
- The Reserve Bank of India has announced the theme for the Third Cohort under the Regulatory Sandbox (RS) as ‘MSME Lending’.
- The application for the Third Cohort will be kept open from October 01, 2021 to November 14, 2021.
- Regulatory Sandbox (RS) refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing.
Before this, RBI has launched two cohort under the regulatory sandbox. These are:
- First Cohort: First Cohort under the Regulatory Sandbox was launched by RBI in December 2020, with the theme as ‘Retail Payments’. Six entities have completed the testing phase of the cohort.
- Second Cohort: Second Cohort under the Regulatory Sandbox was announced by RBI in December 2020 with the theme as ‘Cross Border Payments’. Eight entities have been selected for the ‘Test Phase’.
Paytm Payments Bank launches FASTag-based metro parking facility
- Paytm Payments Bank Ltd (PPBL) has launched India’s first FASTag-based metro parking facility, at the Kashmere Gate metro station in partnership with Delhi Metro Rail Corporation (DMRC)
- PPBL will facilitate the processing of all FASTag-based transactions for cars having a valid FASTag sticker which eliminates the need for stopping to pay cash at the counter.
- PPBL will digitise parking facilities across the country with Kashmere Gate metro station being the first one to be powered by the bank’s digital payment solution.
- MD and CEO of Paytm Payments Bank Ltd: Satish Kumar Gupta.
HSBC India launches solution for cross-border transactions
- HSBC India on Wednesday launched HSBC UniTransact, a digital proposition aimed at simplifying cross-border transactions.
- Given the complexities of international trade and cross-border transactions, HSBC UniTransact is aimed at streamlining the various processes involved for clients
Bad bank meets RBI capital norms through rights issue
- Shareholders of India’s bad bank put in an additional ₹74.6 crore through a rights issue to meet minimum capital norms, enabling it to apply for a Reserve Bank of India (RBI) licence
- While the National Reconstruction Company Ltd (NARCL) needed a minimum of ₹100 crore in paid-up capital to apply for a license, it had initially raised ₹74.6 crore from eight banks.
- Later, these banks, Bank of Baroda, Punjab National Bank (PNB), Bank of India, Bank of Maharashtra, State Bank of India (SBI), Union Bank of India, Canara Bank, and Indian Bank, put in another ₹74.6 crore to take its paid-up capital to ₹149.2 crore.
- In April 2017, the regulator mandated asset reconstruction companies (ARCs) to have minimum net owned funds of ₹100 crore by 31 March 2019.
- State-owned Canara Bank put in an additional ₹12 crore, while Bank of Baroda, SBI, Union Bank of India, and Indian Bank put in ₹9.9 crore each. PNB and Bank of India put in another ₹9 crore each and Bank of Maharashtra further invested ₹5 crore.
Government to sell 10% stake in Hindustan Copper for Rs1,100 crore
- Government will sell upto 10% stake in Hindustan Copper Ltd through offer for sale option in the stock exchanges, that could fetch around Rs1121 crore to the exchequer.
What is Offer for Sale: It's somewhat similar of IPO but OFS is for already listed Companies in either BSE or NSE. IPO of company is released when it wants list itself on stock market for the first time and OFS is done when govt or any company want to reduce stake in listed company to comply with SEBI regulations which defines criteria for limited holding by promoter in listed company to reduce risks to investors
Is OFS means Privatization? Not exactly, if some organization want to sell majority stake then it will do it outside the market. For example Reliance wants to buy Future Retail (Big Bazaar), it won't do it in share market as price of share may inflate with this news and they will have to pay more so they will make discussion outside the market directly from owner and close the deal.
Disinvestment vs Strategic Sale: Disinvestment can be selling Minority and as well as Majority stake selling but Strategic Sale coined by our Govt, means they want to sell majority stake and exit the company management
PepsiCo commissions Rs. 814 crore food plant in Uttar Pradesh
- Soft drinks and packaged foods company PepsiCo on Wednesday commissioned its greenfield food plant in Mathura in Uttar Pradesh, built at a cost of Rs. 814 crore.
- The food plant is PepsiCo’s largest greenfield investment in manufacturing in India and will be used for making Lay’s potato chips.
Microsoft launches talent programme to skill 1.5 lakh Indian youths
- Microsoft India said on Wednesday it has launched the Future Ready Talent programme, bringing together a strategic group of partners to empower India’s youth with technology skills for employability.
- A collaborative internship programme for students in their second year of college and upwards
- The initiative aims to impact over 1.5 lakh higher education students who will join the workforce between 2022 and 2024.
- Under the programme, the AICTE, FutureSkills Prime, Ernst & Young (EY), GitHub, and Quess Corp along with Microsoft will provide a holistic skilling platform, connecting talent to opportunity.
Infosys and Microsoft enter into multi-year engagement with Ausgrid
- Infosys Ltd and Microsoft have entered into a multi-year strategic engagement with Ausgrid, the largest distributor of electricity on Australia’s east coast, to accelerate its cloud transformation journey and establish Ausgrid as a leading digital utility.
HAL, Rolls-Royce ink pact for Make-in-India Adour engine parts for global markets
- Hindustan Aeronautics Limited (HAL) and Rolls-Royce (RR) on Tuesday signed an agreement for Make-in-India Adour engine parts to support the latter's international defence customer base.
- This follows the MoU signed by Rolls-Royce and HAL during the Aero India 2021 to establish an Authorized Maintenance Centre for Adour at HAL to support international military customers and operators.
Vinod Kannan to take over as Vistara CEO
- Vistara, a joint venture between Tata Sons and Singapore Airlines, on Tuesday said that the airline's chief commercial officer Vinod Kannan will replace Leslie Thng as the chief executive from 1 January, 2022.
Justice Venugopal appointed as acting Chairperson of NCLAT
- Justice M. Venugopal has been named as the new Acting Chairperson of the appellate tribunal, National Company Law Appellate Tribunal (NCLAT).
- This is the third time in a row that an Acting Chairperson is at the helm of the NCLAT, after the retirement of permanent Chairperson Justice S J . Mukhopadhaya on March 14, 2020.
- The NCLAT was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of the National Company Law Tribunal (NCLT).
- It is also an appellate tribunal for hearing appeals against the orders passed by NCLT under the Insolvency and Bankruptcy Code (IBC), and by the Insolvency and Bankruptcy Board of India (IBBI).
- It is also the appellate tribunal to hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI).
Tata Capital introduces digital ‘Loan Against Mutual Funds’
- Tata Capital Ltd, the flagship financial services company of the Tata Group announces the launch of ‘Loan Against Mutual Funds’ (LAMF), an industry-first end-to-end digital offering.
- Customers can avail of quick and hassle-free loans ranging from ₹5 lakh and ₹2 crore.
Ola Electric aims to build world's largest women-only factory
- The Ola Futurefactory in Chennai, home to Ola scooter and the largest e-scooter factory in the world, will be run entirely by women
- Ola Futurefactory will employ over 10,000 women when at full capacity, working alongside more than 3,000 AI-driven robots.
- Ola Futurefactory will become the world’s largest women-only factory and the only all-women automotive manufacturing facility globally.
- Founder and Ola Electric CEO - Bhavish Aggarwal
Amazon India launches its largest fulfilment centre in Bengaluru
- E-commerce major Amazon India on Monday launched its largest fulfilment centre in the country with a storage capacity of more than 2.4 million cubic feet in Bengaluru
- In Year 2019, Amazon opened its largest campus in the world in Hyderabad
The American watches and accessories firm, Fossil, has appointed Indian Bollywood actor Kriti Sanon as its newest celebrity brand ambassador in India.
Shyam Metalics and Energy has signed Bollywood actor Salman Khan as brand ambassador for endorsing its S-E-L TMT rebars.
News Source : ET, BL, BS, FE and Mint
Buy Monthly PIB Summary PDF - Buy Here
Buy ARD Programs and Policies - Buy Here
Buy ARD Current, Budget and Data Based MCQs - Buy Here
(Disclaimer: Only the headline of these news may have been reworked by the AffairsTap; the rest of the content has been taken from a syndicated feed and various news website for Educational Purpose by giving the due credit. No copyright Infringement intended)
