Banking Awareness of 20, 21 and 22 November 2022

By Priyanka Chaudhary | Last Modified: 24 Nov 2022 16:54 PM IST
Half Yearly (Jan - June 2022)
2022 Book

Banking Awareness

Topic: Appointments

1. Centre has appointed 10 Executive Directors (EDs) in various Public Sector Banks (PSBs).

  • The appointment of ten EDs in various PSBs has been approved by Appointments Committee of the Cabinet (ACC).
  • Lalit Tyagi has been appointed as Executive Director (ED) of Bank of Baroda for three years.
  • Binod Kumar has been appointed as ED of Punjab National Bank (PNB) for three years.
  • Other appointments are given in the following table.

Appointee

Previous/Current Post

Appointed as

Ashok Chandra

Chief General Manager (CGM) of Union Bank of India

ED in Canara Bank for 3 years

S Ramasubramanian

CGM at Canara Bank

ED in in Union Bank of India for 3 years

Mahesh Kumar Bajaj

General Manager, Indian Bank

ED in Indian Bank

M. Paramasivam

CGM, Canara Bank

ED in PNB for 3 years

Subrat Kumar

CGM, Bank of Baroda

ED of Bank of India

Malladi Venkat Murali Krishna

CGM, Bank of Baroda

ED in Central Bank of India for 3 years

Rajendra Kumar Saboo

CGM, PNB

ED in UCO Bank for

3 years

Sanjay Vinayak Mudaliyar

CGM, Bank of Baroda

ED in Indian Overseas Bank for 3 years

Topic: Banking System

2. Karnataka Vikas Grameena Bank (KVGB) has received national award from PFRDA.

  • The bank has received the award for significant enrolment under Atal Pension Yojana (APY).
  • The bank has till now opened 3,34,687 accounts under APY.
  • During 2022-23, KVGB enrolled 69,132 accounts compared with the target of 50,320.
  • KVGB Chairman, P Gopi Krishna, received the award from PFRDA Chairman, Supratim Bandopadhyay.
  • He said that PFRDA has fixed target of 80 accounts per branch. He further said the bank has achieved an average of 110 accounts against the target.
  • Karnataka Vikas Grameena Bank is an Indian Regional Rural Bank sponsored by Canara Bank.
  • Atal Pension Yojana (APY):
    • It was launched in 2015. It was launched to provide financial support post-retirement to the people working in the unorganised sector.
    • APY subscribers would receive a minimum guaranteed pension of ₹1000 to ₹5000 per month after the age of 60 years.

IBPS PO Mains 2022 Current Affairs and Banking Awareness of Last 6 Months

Financial Awareness Subscription by PendulumEdu

Topic: Banking System

3. Credit-Deposit (C-D) ratio of North-Eastern, Eastern, Central and Southern Regions improved as per the latest RBI data.

  • However, C-D ratio of Northern and Western Regions declined in 2022.
  • RBI’s data on State-wise C-D ratio of scheduled commercial banks according to place of utilization show that C-D ratio of Northern Region declined from 78.2% to 77.7%.
  • Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan, Chandigarh, Delhi and Ladakh form Northern Region.
  • C-D ratio of Union Territories (UTs) of Jammu & Kashmir and Ladakh have increased to 52.2% and 36.9%, respectively.
  • Punjab, Chandigarh and Delhi are the states that recorded a decline in C-D ratio in Northern Region.
  • Haryana, Himachal Pradesh and Rajasthan recorded improvement in C-D ratio in Northern Region.
  • C-D ratio of Western Region declined from 78.1% to 77.5% as ratios of Maharashtra and Dadra & Nagar Haveli declined.
  • C-D ratio of Central region improved because of improvement in the ratios of Chhattisgarh, Uttar Pradesh and Uttarakhand. C-D ratio of Madhya Pradesh declined from 70.7% to 70.4%.   
  • Three states in Southern region recorded triple digit C-D ratios. These states are Telangana (from 99.3% to 103.4%), Tamil Nadu (from 103.8% to 103.7%) and Andhra Pradesh (from 135.2% to 142.7%).
  • Credit-Deposit (C-D) ratio shows how much of each rupee of deposit goes to credit markets in a region.

CD ratio region wise

Credit-deposit ratio of scheduled commercial banks according to place of utilisation (in %)

Region

2021

2022

Northern

78.2

77.7

North-eastern

46.1

46.4

Eastern

43.9

44.7

Central

51.3

53.1

Western

78.1

77.5

Southern

86.3

87.6

Topic: Banking System

4. Paytm app users can now make UPI transactions to mobile numbers across all UPI payment apps.

  • This facility will also be available even if the recipient is not registered with Paytm.
  • With this facility, users will get the benefit of interoperability across all UPI-based payment apps.
  • Paytm Payments Bank Limited (PPBL) leads UPI payments as the largest beneficiary bank and a leading remitter bank.
  • As per latest report by National Payments Corporation of India (NPCI), PPBL has registered over 1,614 million transactions as a beneficiary bank in October 2022.
  • It has registered over 362 million transactions as a remitter bank in October 2022.
Monthly Banking/ Financial Awareness Books
October Financial Awareness 2022 August Financial Awareness 2022
September Financial Awareness 2022 July Financial Awareness 2022

Topic: MoUs/Agreements

5. Federal Bank has signed an MoU with JCB India. 

  • The MoU has been signed to finance heavy equipment buyers.
  • Under the MoU, Federal Bank is the preferred finance partner of JCB.
  • JCB India is a leading manufacturer of earthmoving and construction equipment.
  • Federal Bank is an Indian private sector bank with headquarters in Aluva, Kochi.
  • Shyam Srinivasan is CEO of Federal Bank. Its tagline is your perfect banking partner.

Topic: Banking System

6. ICICI Bank has launched loan against deposits and dollar bonds for NRIs at its GIFT City branch in Gujarat.

  • In a release, ICICI Bank said that it is the first to offer these products in GIFT City.
  • The loan against deposits facility is same to a loan in foreign currency against a deposit in India.
  • It includes non-resident external fixed deposits in rupees.
  • Using this loan, up to 95% of the deposit value can be availed.
  • Customers can borrow for flexible tenures at fixed or floating interest rates.
  • ICICI Bank (ICICI Bank Limited):
    • It is a private sector bank. It is headquartered at Mumbai.
    • Girish Chandra Chaturvedi is chairman of its board of directors. Its MD & CEO is Sandeep Bakhshi.

Topic: RBI

7. RBI has approved the opening of Vostro accounts by HDFC Bank and Canara Bank.

  • Earlier, RBI has given permissions to SBI, IndusInd Bank and Uco Bank.
  • RBI has given the approvals to open Vostro accounts in a bid to facilitate rupee trade with Russia.
  • A new arrangement for settling international trade in rupees was introduced by RBI in July.
  • A Vostro bank is an account held by a correspondent bank on behalf of other bank.
  • These accounts come under correspondent banking in which the bank holding funds acts as custodian for a foreign counterpart or manages the account of a foreign counterpart.

Topic: Indian Economy/Financial Market

8. CRISIL has cut its forecast for India’s real gross domestic product (GDP) growth to 7% for this fiscal year (2022-23).

  • It has previously estimated India’s real GDP growth for current fiscal year at 7.3%.
  • As per the rating agency, the cut is mainly due to the reason that the slowdown in global growth has begun to impact India’s exports and industrial activity.
  • However, domestic demand is supportive this fiscal because of contact-based services, government capital expenditure (capex) and overall normal monsoon for the fourth time in a row.
  • It is expected that the impact will be more next fiscal (2023-24) as global growth slows down faster.
  • In its ‘Market Intelligence & Analytics’ report, the agency said domestic demand could come under pressure.
  • CRISIL expects India’s GDP growth to slow to 6% in fiscal 2024. It expects India’s GDP growth to average 6.6% between fiscal 2024 and 2026.
  • It expects CPI inflation to average 6.8%. For fiscal 2024, it expects CPI inflation to averaging 5%.

Topic: Summits/Conferences/Meetings

9. The Institute of Chartered Accountants of India hosted 21st World Congress of Accountants (WCOA) 2022 in Mumbai in Hybrid mode.

  • ‘Building Trust Enabling Sustainability’ is the theme for the WCOA 2022. It was held from 18th to 21st November 2022.
  • WCOA 2022 is platform for exchange of ideas through discussions for accounting, finance and business professionals.
  • Over 6,000 professionals related to accountancy attended WCOA 2022. They included more than 1800 foreign delegates from 100 nations.
  • World Congress of Accountants (WCOA) is popularly known as the "Olympics of the Accountancy Profession”. 20th WCOA was held in Sydney, Australia in 2018.
  • The WCOA 2022 has been organised by the International Federation of Accountants (IFAC).
  • International Federation of Accountants (IFAC):
    • It was founded in 1977. It is the global organization for the accountancy profession.
    • It is comprised of 180 members and associates in 135 countries and jurisdictions.

Quiz

Daily Banking Awareness Quiz | 12, 13 and 14 November 2022

Start Quiz
Quiz

Daily Banking Awareness Quiz | 9, 10 and 11 November 2022

Start Quiz
Quiz

Daily Banking Awareness Quiz | 6, 7 and 8 November 2022

Start Quiz
Quiz

Daily Banking Awareness Quiz | 4 and 5 November 2022

Start Quiz

 

0
COMMENTS

Comments

Share Blog


Banking Awareness

Attempt Daily Banking
Awareness Quiz

Attempt Quiz

Half Yearly (Jan - June 2022)
2022 Book

Banking Awareness

For IBPS, SBI, SEBI, RBI, State PCS, UPSC Exams

Preview Buy Now
x

Banking Awreness Jan to August 2022