Banking Awareness of 18, 19 and 20 December 2021

Topic: Miscellaneous

1. Kumar Mangalam Birla gets Global Entrepreneur of the Year Award from TiE.

• Kumar Mangalam Birla have got Global Entrepreneur of the Year Award- Business Transformation from The Indus Entrepreneurs (TiE).
• Kumar Mangalam Birla is the chairman of Aditya Birla Group. Birla is first Indian industrialist to get the award.
• The awards were given out to Techstars for Best Global Accelerator for Startups, MIT for Global University Promoting Student Entrepreneurship and Accel as Best Global VC Fund.
• The Indus Entrepreneurs (TiE) is a Silicon Valley non-profit organization. It supports start-ups through networking and raising of capital.

Topic: RBI

2. RBI imposes Rs 30 lakh monetary penalty on ICICI Bank.

• RBI imposed Rs 30 lakh monetary penalty on ICICI Bank due to non-compliance with its directions related to levy of charges for non-maintenance of minimum balance in saving accounts.
• RBI has also imposed Rs 1.8 crore monetary penalty on Punjab National Bank.
• RBI carried out Statutory Inspection for Supervisory Evaluation (ISE) of PNB with reference to its financial position as of March 31, 2019.
• RBI found non-compliance of its provisions relating to the pledge of shares by the PNB.

Topic: Corporates/Companies

3. IPRULIFE becomes first Indian insurance company to sign UN-supported Principles for Responsible Investment (UNPRI).

• ICICI Prudential Life Insurance (IPRULIFE) has become first Indian insurance company to sign the United Nations-supported Principles for Responsible Investment (UNPRI).
• This demonstrates its commitment towards the environment, social and governance (ESG) issues. 
• ‘Sustainable Equity Fund’, an ESG-focused fund, was recently launched by IPRULIFE as part of its commitment towards promoting sustainable investing.
• UNPRI is an investor initiative in partnership with the two bodies of United Nations. These bodies are UN Environment Programme Finance Initiative and UN Global Compact.
• Currently, UNPRI has over 4,000 signatories from 60 countries. It is a UN-supported network of investors, works to promote sustainable investment.

Topic: Reports and Indices

4. Investments in Indian agri tech and food tech sectors doubled to $2.1 billion.

• As per India Agrifood Startup Investment Report, investments in Indian agri tech and food tech sectors doubled to $2.1 billion in financial year 2020-21.
• As per the report, investments in these sectors stood at $1.1 billion in fiscal 2019-20.
• The agribusiness marketplaces collected $86 million in fiscal 2020-21, up from $30 million.
• Agrifood Startup Investment Report is an annual assessment of the latest funding trends in these sectors in India.
• It is brought out by AgFunder, one of the most active global venture capital firms, and Omnivore, the most active VC in the country.

Topic: Banking System

5. Union Bank of India raises ₹1,500 crore by issuing Basel III compliant debt instruments at a coupon rate of 8.40%.

• Union Bank of India has raised ₹1,500 crore by issuing Basel III compliant debt instruments at a coupon rate of 8.40%.
• The issue size of Union Bank of India’s debt issuance was ₹500 crore with a green shoe option to retain over subscription up to ₹1,000 crore.
• The debt instruments, which have ₹1 crore face value, are like debentures that are eligible for inclusion in Additional Tier-1 Capital.
• Last month, ₹2,000 crore were raised by Union Bank of India via AT-1 bonds at a coupon rate of 8.70 %.

Topic: Corporates/Companies

6. WhatsApp launches Digital Payments Utsav programme.

• WhatsApp has launched Digital Payments Utsav programme to adopt 500 villages in Karnataka and Maharashtra to promote digital payments in India.
• Digital Payments Utsav programme was announced by WhatsApp at its Fuel For India 2021 annual event.
• The pilot of the programme started on 15 October with residents of Kyathanahalli village in Karnataka's Mandya district.

Topic: Appointments

7. Arvind Kumar becomes Director General of Software Technology Parks of India (STPI).

• Arvind Kumar has become Director General of Software Technology Parks of India (STPI).
• Prior to joining STPI, Arvind Kumar was working in the Telecom Regulatory Authority of India (TRAI).
• STPI is an autonomous body under the Ministry of Electronics and Information Technology (MeitY), Government of India.
• It is implementing Next Generation Incubation Scheme (NGIS), a flagship programme of MeitY.

Topic: Committees/ Commissions/Taskforces

8. SEBI constitutes Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS).

• SEBI has constituted Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) for suggestions to detect early market anomalies.
• ALeRTS will be headed by SEBI's ex-whole time member Madhabi Puri Buch.
• The committee would recommend future roadmaps and improvements in the various on-going technology projects.
• It will guide SEBI in designing and framing requirements for the various in-house systems.