Banking Awareness of 25, 26 and 27 April 2023

By PendulumEdu | Last Modified: 27 Apr 2023 19:29 PM IST
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1. RBI has approved reappointment of N Kamakodi as MD & CEO of City Union Bank.

  • RBI has approved his reappointment for another three years with effect from 01 May, 2023.
  • He has been serving as MD & CEO of City Union Bank since May 2011.
  • City Union Bank is an Indian bank headquartered in Kumbakonam, Tamil Nadu. It is a Private Sector Bank.
  • Shreekant M Bhandiwad has assumed charge as the new Chairman of Karnataka Vikas Grameena Bank (KVGB).
  • Bhandiwad was earlier heading the Patna circle of Canara Bank.
  • Karnataka Vikas Grameena Bank is an Indian Regional Rural Bank sponsored by Canara Bank. It is headquartered in Dharwad, Karnataka.

Topic: Banking System

2. A specialised branch for start-ups has been opened by State Bank of India at Bandra Kurla Complex in Mumbai.

  • The aim of specialised branch for start-ups is to provide support to start-ups at every stage of their journey, from their formation till their IPOs and FPOs.
  • In addition to regular banking services to start-ups, the branch will also provide investment banking, advisory and other ancillary services.
  • The branch in Mumbai has entered into MoUs with Society for Innovation & Entrepreneurship (SINE) at IIT-Bombay.
  • It has also entered into MoUs with Centre for Incubation and Business Acceleration (CIBA), and S.P Jain Institute of Management & Research (SPJIMR).
  • State Bank of India now has four specialised branches for start-ups.
  • Other three branches are situated at Bengaluru, Chennai and Gurugram.
  • These specialised branches for start-ups provide all banking services required by start-ups under one roof.
  • Mumbai houses the second highest number of unicorns in India after Bengaluru.


3. Hari Hara Mishra has assumed charge as the Chief Executive Officer of the Association of Asset Reconstruction Companies.

  • Presently, there are 28 Asset Reconstruction Companies (ARCs) registered with Reserve Bank of India.
  • Hari Hara Mishra worked with State Bank of India from 1982 to 2004.
  • Association of Asset Reconstruction Companies (ARCs) in India is a representative body of 28 ARCs registered with Reserve Bank of India.
  • R. K. Bansal is the chairman of Association of Asset Reconstruction Companies (ARCs).
  • Mr. Bansal is the MD and CEO of Edelweiss Asset Reconstruction Company Limited, the largest ARC in the country.

Topic RBI

4. The banking licence of Adoor Co-operative Urban Bank, Adoor, Kerala, has been cancelled by RBI.

  • RBI has notified Adoor Co-operative Urban Bank as a non-banking institution.
  • RBI has cancelled the licence with effect from the close of business on April 24, 2023.
  • RBI has cancelled the bank’s licence under various sections of the Banking Regulation Act, 1949. The bank was given licence in January 1987.
  • Even after being notified as non-banking Institution, the bank is required to repay unpaid and unclaimed deposits of non-members held by it, whenever they are demanded.

Topic: Banking/Financial Schemes

5. The average ticket size of loans under PMMY has almost doubled as per State Bank of India’s economic research department (ERD).

  • The average ticket size of loans under Pradhan Mantri Mudra Yojana has increased from ₹38,000 in FY16 to ₹72,000 in FY23.
  • The amount of loans disbursed under MUDRA increased from ₹1.33 lakh crore in FY16 to ₹4.50 lakh crore in FY23.
  • The number of loans sanctioned stood at ₹6.23 crore in FY23 against ₹3.48 crore in FY16.
  • The ERD said India’s Social Fabric Index (SFI) shows 3.2 times jump from 0.813 in FY17 to 2.640 in FY22.
  • SFI represents the participation of the underprivileged in the formal banking system.
  • The SFI is constructed by SBI using principal component analysis. It includes three variables given below.
    • SC, ST, OBCs Mudra Accounts and Disbursements
    • Number of women deposit accounts and deposits held in them
    • Revenue and Capital Expenditure of Government towards welfare of SC, ST, and OBCs
  • Mudra Atmanirbhar Quotient (MAQ) has increased up to 25 times since FY16.
  • MAQ measures the propensity of particular social strata to repay based purely on cash flow generated from business.
  • MAQ has increased from 0.81 for ST and SC social groups in FY16 to 2.02 and 2.20 respectively in FY22.

Mudra Atmanirbhar Quotient (MAQ) for different groups


Increased from 0.82 in FY16 to 1.98 in FY22


Increased from 0.99 in FY16 to 2.71 in FY22

Women entrepreneurs

Increased from 0.82 in FY16 to 2.28 in FY22

New Entrepreneurs

Increased from 1.17 in FY16 to 3.54 in FY22

Mudra Cards

Increased from 0.67 in FY16 to 16.98 in FY22


6. Union Cabinet approved National Medical Devices Policy.

  • It will help the medical devices sector expand to $50 billion or over ₹4-lakh crore by 2030.
  • Currently, the size of the sector is around $11 billion or over ₹90,000 crore.
  • The policy will help in reducing imports and promoting exports.
  • Presently, India meets 75% of its device requirement through imports.
  • India’s share in global medical devices market is estimated to be 1.5%.
  • Centre is already supporting setting up of four medical devices parks in Himachal Pradesh, Madhya Pradesh, Tamil Nadu and Uttar Pradesh.
  • The setting up of 157 new nursing colleges has also been approved by the Cabinet Committee on Economic Affairs.
  • Maximum number of colleges (27) will be set up in Uttar Pradesh, followed by Rajasthan (23) and Madhya Pradesh (14).


7. AIIB’s first overseas office will be opened in Abu Dhabi.

  • A host member agreement was signed by Asian Infrastructure Investment Bank (AIIB) and the United Arab Emirates (UAE) to officially open the bank's first overseas office, an Interim Operational Hub (the Hub), in Abu Dhabi.
  • The establishment of the hub in UAE will provide the Bank with a strong platform to manage growing investment portfolio.
  • The hub will also extend client and member engagement, project monitoring and implementation services across the globe.
  • Asian Infrastructure Investment Bank (AIIB):
    • It was established by a multilateral treaty on December 25, 2015, and began operations in January 2016.
    • It is a multilateral development bank that aims to support the construction of infrastructure in the Indo-Pacific region.
    • Its headquarters is located in Beijing, China.
    • Jin Liqun is the current President of the Asian Infrastructure Investment Bank.

Topic: Appointments

8. Rajesh Kumar Singh has taken charge as the Secretary of Department for Promotion of Industry and Internal Trade (DPIIT).

  • He is an Indian Administrative Service officer of the 1989 Batch from Kerala cadre.
  • He has also held the position of Commissioner of the Delhi Development Authority (DDA).
  • He has also held the position of Secretary of Urban Development and Finance Secretary of the Government of Kerala.
  • Department for Promotion of Industry and Internal Trade (DPIIT):
    • It was established in 1995. It was reconstituted in 2000 with the merger of the Department of Industrial Development.
    • It was earlier called Department of Industrial Policy & Promotion. It was renamed as DPIIT in January, 2019.
    • It comes under the Ministry of Commerce and Industry. Its role is to promote industrial development of India.

Topic: Awards and Prizes

9. Power Grid Corporation of India Ltd. (PGCIL) has won Global Gold Award by The Green Organization.

  • The award was received by Dr. V. K. Singh, Director (Personnel), POWERGRID on behalf of the organization.
  • The award provides a recognition of POWERGRID’s CSR work in 10 villages of Jaipatna Block of Kalahandi District in Odisha.
  • POWERGRID’s CSR work involved improving Agriculture Productivity and Rural Livelihood through watershed management, community participation and better crop management practices in these villages.
  • The Green World Awards 2023 function was held at Miami in the USA on 24 April 2023.
  • Power Grid Corporation of India Ltd. (PGCIL):
    • It is a Maharatna CPSU of the Ministry of Power, Government of India.
    • It was incorporated on 23rd October 1989. It is headquartered in Gurgaon. Kandikuppa Sreekant is its chairman and MD.

Topic: Appointments

10. Microsoft India’s Anant Maheshwari appointed as chairperson of the NASSCOM.

  • President & CEO of Microsoft India Anant Maheshwari has been appointment as chairperson of the National Association of Software and Service Companies (NASSCOM) for 2023-24.
  • Earlier, Maheshwari was the Vice Chairperson of NASSCOM.
  • He succeeds Krishnan Ramanujam, who served as the Chairman for the year 2022-23.
  • Rajesh Nambiar, Chairman and MD, Cognizant India has also been appointed as its Vice Chairperson for 2023-24.
  • Also, NASSCOM has announced its new Executive Council for 2023-2025.
  • The newly formed Executive Council will collaborate with government bodies to develop policies that will further assist the expansion of the Indian IT sector in order to meet the $500 billion growth target by 2030.


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