Posted by : Unknown Friday, November 29, 2013

  1. ·         The RBI launches new Real Time Gross Settlement System(RTGS).
  2. ·         RBI Governor Raghuram Rajan on October 19,2013 said the RTGS for fund transgers will improve the efficiency of the country’s financial markets.
  3. ·         “With its advanced liquidity and queue management features, the new RTGS is expected to signifivantly improve the efficiency of financial markets,” Mr. Rajan said while inaugurating the ISO 20022- compliant system.
  4. ·         The system has several new functionalities including advance liquidity features, gridlock resolution mechanism and hybrid settlement facility, facility to accept future value-dated transactions and options to process multi-currency transactions.
  5. ·         The RTGS is a large-value funds transfer system which banks use to settle inter-bank transfers for their own accounts as well as for their customers.
  6. ·         Usha Anantha Subramanian appointed as a CMD of Bharatiya Mahila Bank.
  7. ·         P.Chidambaram releases a commemorative coin of Rs.20 and a circulation coin of Rs.5 to mark the culmination of the 125th  Birth Anniversary of Moulana Abul Kalam Azad.
  8. ·         Sushil Muhnot Appointed new CMD of Bank of Maharashtra.(prior to this appointment Sushil Muhnot was Chairman of Small Industies Development bank of india(SIDBI).
  9. ·         SBI hikes base rate, benchmark prime lending rate by 20 bps.SBI has hiked its base rate by 20 basis points to 10 percent from 9.8 percent.
  10. ·         Adopt Aadhaar authentication or EMV chip for card based transactions security and Risk mitigation measures for card present transactions. Don’t forget your debit card PIN, for  you’ll need to punch it in after swiping your card at any retail outlet form December 1, 2013.
  11. ·         Tata sons withdraws application for banking licence. The RBI said in a statement that Tata sons Ltd has withdrawn its application for a new bank licence.
  12. ·         Bank Strike. UFBU, Bank Staff to go on strike on December 19, 2013 Employee unions in public sector banks has decided to call for one day bank employees strike on December 19 2013 to push early wage revision and to protest against banking sector reforms. The decision was taken by United Forum of Bank Union’s.
  13. ·         Prime minister Dr. Manmohan Singh here on November 19, 2013 inaugurated the country’s first all-women bank, Bharatiya Mahila Bank( Indian Women’s Bank). With the inauguration of the bank at the Air India building in Nairman Point, seven branches became operational across the country. The other six branches were inaugurated through video-conferencing by the prime minister and UPA(United Progressive Alliance) Chairperson Sonia Gandhi who was also present at the event. The bank will have a network of 25 branches by March 2014, finance minister P Chidambaram said. It will primarily serve women but deposits will also be taken from men.
  14. ·         Usha Ananthasubramanian, who was executive director of Punjab National bank, is the chairperson of the bank.
  15. ·         M. Balachandran Appointed New Chairman of National Payments Corporation of India(NCPI).
  16. ·         Six Major Central Banks Permanently Made currency swap agreement. They are World U.S Federal Reserve, Bank of England, The Bank of Japan, European Central Bank, Central Bank of Canada and Central bank of Switzerland made currency swap arrangements permanent on October 31, 2013.
  17. ·         G.K. Pillai appointed as the Chairman of MCX-SX. He was the Former Home Secretary.
  18. ·         Thomas Mathew T, the former acting chairman of the Life Insurance Corporation(LIC) has been appointed as the Vice President of the bourse.
  19. ·         RBI raises repo rate by 25 bps, cuts MSF by 25 bps, holds cash reserve  ratio. RBI Governor hiked the repo rate by 25 basis points in the October monetary policy review today.
  20. ·         World Bank lowers India’s GDP growth forecast to 4.7 percent for 2013-2014.This is down from 6.1 percent economic growth projected in april this year.
  21. ·         WPI(Wholesale Price Index) inflation edges up to 6.46 percent, Retail inflation up at 9.84 percent in September.
  22. ·         Janet Yellen. Barack Obama names Janet Yellen to head US Federal Reserve.
  23. ·         State Bank of India Appointed Rajendra Kumar Saraf as CFO.
  24. ·         S.R. Bansal appointed New CMD( Chairman and Managing Director) of Corporation Bank.
  25. ·         RBI cuts Bank announces measures to improve liquidity, cuts bank rate and Marginal Standing Facility(MSF) by 50 bps to 9 percent.
  26. ·         Arundhati Bhattacharya appointed First woman Chairperson of SBI.
  27. ·         Asian Development Bank approved $700 m loan facility to IIFCL.
  28. ·         State Bank of Hyderabad opens four all-woman branches. State bank of Hyderabad on October 2, 2013 opened four all woman branches in the country, Vishakhapatnam, Salem, Bangalore and Pune, according to K. Ramesh Babu, Deputy General Manager in charge of the Vishakhapatnam zone.
  29. ·         Raghuram Rajan awarded Deutsche Bank Prize for Financial Economics 2013.
  30. ·         B.S Rama Rao takes charge as Executive Director(ED) in Vijaya Bank.
  31. ·         Atul Agarwal appointed as Executive Director(ED) at Indian Overseas Bank.
  32. ·         Reserve Bank of India hikes to 7.50 percent, reduces MSF rate to 9.50 percent.
  33. ·         Air India, SBI Cards Launch co-branded credit card.
  34. ·         SBI’s advance tax pay-out down 40 percent.
  35. ·         RBI to issue unique identification codes for financial market participants.
  36. ·         RBI sets up committee to revise monetary policy framework.
  37. ·         R. Raghavendra appointed workmen employee director of state bank of Mysore.
  38. ·         United bank of india to increases branches, atms to 2000 this fiscal.

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