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1
Which of the following private sector banks has recently acquired BSS Microfinance in an all-cash deal for Rs 139.2 cr?
» Explain it
B
Hints to Remember

Who: Kotak Mahindra Bank
What: acquired BSS Microfinance in an all-cash deal for Rs 139.2 cr
When: published on 30th September 2016

Kotak Mahindra Bank, the country’s fourth largest private sector bank has recently acquired BSS Microfinance in an all-cash deal for Rs 139.2 crore.

With this, it has entered the microfinance space that has been growing at a rapid pace. This acquisition will allow Kotak to tap the lower end of the customer base and will also help the bank in meeting the priority sector lending (PSL) targets, as BSS’ loans book qualifies for PSL.

This acquisition will give Kotak access to BSS’s growing customer base which currently stands at 217,000 and a network of 78 branches as of 30th June 2016.

For the complete information kindly visit given link:

http://www.business-standard.com/article/finance/kotak-mahindra-bank-acquires-bss-microfinance-116093001295_1.html
2
Which of the following banks has recently become first domestic bank to open branch in Yangon, Myanmar?
» Explain it
A
Hints to Remember

Who: States Bank of India
What: become first domestic bank to open branch in Yangon, Myanmar
When: published on 3rd October 2016

The State Bank of India has recently announced its entry into Myanmar by opening a branch in the capital city of Yangon, becoming the first domestic lender to do so.

The Yangon branch is the 54th foreign branch of the nation’s largest lender.

The Myanmarese central bank earlier this year allowed SBI to open a branch with the primary objective of extending wholesale banking services to foreign corporates.

Background:

India has been a major trading partner of Myanmar for centuries. Since the signing of India and Myanmar trade agreement in 1970, bilateral trade has been growing steadily and rose from USD 328 million in 1997-98 to USD 2.052 billion in 2015-16.

For the complete information kindly visit given link:

http://timesofindia.indiatimes.com/business/india-business/SBI-becomes-first-domestic-bank-to-open-branch-in-Yangon/articleshow/54656165.cms
3
What is current repo rate as the Reserve Bank of India (RBI) has cut repo rate by 25 bps recently?
» Explain it
D
Hints to Remember

Who: the Reserve Bank of India (RBI)
What: cut repo rate by 25 bps to 6.25 per cent
When: published on 4th October 2016

The Reserve Bank of India (RBI) has recently cut repo rate by 25 bps to 6.25 per cent.

Reverse repo rate under the LAF stands adjusted to 5.75 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.

This monetary policy decision was taken by the newly constituted Monetary Policy Committee (MPC).  This was also Urjit Patel’s maiden monetary policy announcement as RBI Governor.

About Repo Rate:

Repo Rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) lends money to commercial banks in the event of any shortfall of funds. This rate is used by monetary authorities to control inflation.

For the complete information kindly visit given link:

http://indianexpress.com/article/business/banking-and-finance/rbi-policy-review-cuts-repo-rate-by-25-bps-governor-urjit-patel-3064870/
4
Which of the following persons has recently announced that BRICS’ Contingent Reserve Arrangement (CRA) is now operational to deal with any short-term balance of payments pressures the grouping’s member nations may face?
» Explain it
B
Hints to Remember

Who: Finance Minister Sri Arun Jaitaly
What: has recently announced that BRICS’ Contingent Reserve Arrangement (CRA) is now operational
Why: to deal with any short-term balance of payments pressures the grouping's member nations may face
When: published on 8th October 2016

Finance Minister Sri Arun Jaitaly has recently announced that BRICS’ Contingent Reserve Arrangement (CRA) is now operational to deal with any short-term balance of payments pressures the grouping's member nations may face.

He made this announcement at the annual meeting of the International Monetary Fund and the World Bank.

About BRICS’ Contingent Reserve Arrangement:

The BRICS Contingent Reserve Arrangement (CRA) is a framework for the provision of support through liquidity and precautionary instruments in response to actual or potential short-term balance of payments pressures. It was established in 2015 by the BRICS countries Brazil, Russia, India, China and South Africa. The legal basis is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed at Fortaleza, Brazil on 15th July 2014. It entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015.

The objective of this reserve is to provide protection against global liquidity pressures. This includes currency issues where members' national currencies are being adversely affected by global financial pressures.

For the complete information kindly visit given link:

http://economictimes.indiatimes.com/news/economy/policy/brics-contingent-reserve-arrangement-operational-arun-jaitley/articleshow/54741704.cms
5
As per the new guidelines of Reserve Bank India, which one of the following would need to take specific approval from the bank for the products they would be offering to customers?
» Explain it
A
Hints to Remember

Who: Payments Bank
What: would need to take specific approval from the bank
Why: for the products they would be offering to customers
When: published on 7th October 2016

As per the new guidelines of Reserve Bank of India, the entities that had been granted a payments bank (PB) license would need to take specific approval from the bank for the products they would be offering to customers.

As per the guidelines, at the time of submitting application for license, the PBs should submit to RBI a list of financial products they intend to offer with a clear description.

Banks do not need to take prior RBI approval to launch products but prepaid payment instruments issuers need to take such approval to offer payments products.

Key facts:

1. Employee of Payment Bank should be available for sufficient duration at a fixed location to attend customers. They must at least have 25% of access points in un-banked rural areas.

2. The main mandate of Payment Banks is to offer remittance services. They will be not allowed to lend.

3. Payment Banks can also offer simple financial products like insurance and mutual funds.

4. The RBI may place suitable restrictions on the design, functioning, or other features of the product of Payment Banks.

5. RBI may even discontinue the product launched by Payment banks if it feels that the product is not suitable for customers.

For the complete information kindly visit given link:

http://www.thehindu.com/business/Industry/payments-banks-need-rbis-prior-product-approval/article9193642.ece

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