Bank regulation Current Affairs, GK & News
The Reserve Bank of India recently constituted a working group on digital lending. The working group was constituted to study all aspects of digital lending activities in the regulated and regulated financial sector. The working group will ensure that an appropriate regulatory approach is put in the digital lending platform. Functions of the working group ..
Category: Economy & Banking Current Affairs
Mumbai headquartered Yes Bank declared its intention to cease its mutual fund business operations by selling out all its holdings in asset management and trustee subsidiaries. Wholly owned subsidiaries of YES Bank Limited are YES AMC (Yes Asset Management) is the asset management company of YES Mutual Fund and YTL (Yes Trustee Ltd) is the ..
The “bail-in” clause of the Financial Resolution and Deposit Insurance Bill (FRDI) has led to worries about the safety of bank deposits. It is different from a traditional bailout in which government’s money helps bank tide over the crisis. In case of a bail-in, it is the bank’s own deposits that are used to rescue ..
The RBI has asked all banks to generate a Unique Customer Identification Code (UCIC) for each of their customers. Objective: The Unique Identification Code will fortify Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing Of Terrorism (CFT) instruments. Since it will take a long time to generate entire KYC Registry, banks are ..
Month: Current Affairs - June, 2012
In the wake of Basel III capital regulations declared by the RBI, the Indian banks would require Rs 3,90,000-5,00,000 crore capital over the next 6 years. As per initial estimates by bankers and rating agencies, out of this , the need for common equity would be Rs 1,30,000-2,00,000 crore, additional Tier-I capital of Rs 1,90,000 ..
Month: Current Affairs - May, 2012