Banking Awareness of 26, 27 and 28 April 2022

By PendulumEdu | Last Modified: 30 Apr 2022 17:58 PM IST

Main Headlines:

Topic: Miscellaneous

1. Dr Bina Modi has won the Woman Transforming India Award.

She won the award from Indo-American Chamber of Commerce.
Union Minister for Civil Aviation Jyotiraditya Scindia presented her the award.
She is chairperson of Modi Enterprises. She is president and managing director of Godfrey Phillips India Ltd.
She had won the Women of the Decade in Business & Leadership 2018 by Women Economic Forum. She also won Achiever’s Award in 2019.
In 2020, she won Award for Excellence in Business by Abdelfattah El Sisi, President of Egypt at the Women Economic Forum 2020.

Topic: Corporates/Companies

As per the deal, shareholders will get 54.20 dollars in cash for each share of Twitter stock they own.
Twitter's board has unanimously approved the deal. The deal is expected to close this year.
Twitter:
- It is an American social networking and microblogging service.
- Its CEO is Parag Agrawal. Its founders are Jack Dorsey, Biz Stone, Evan Williams and Noah Glass.

Topic: Banking System

The penalty has been imposed for non-compliance with KYC norms and RBI’s guidelines on reporting of data and outsourcing of financial services.
The bank failed to allot Unique Customer Identification Codes (UCIC) to its individual customers.
The bank also failed in reporting of data to the Central Repository of Information on Large Credits (CRILC).
Bank of Maharashtra is headquartered in Pune. Its CEO is A.S. Rajeev. It is a nationalised bank.

Topic: Banking System

The additional funding has been approved for 2020-21 to 2022-23.
The project outlay for setting up of IPPB has been revised from ₹1,435 crore to ₹2,255 crore.
Union cabinet has also given in-principal approval for future fund infusion of ₹500 crore.
This approval is for meeting regulatory requirements and technological upgradation.
IPPB was launched nationwide on September 1, 2018. Since its launch, IPPB has opened more than 5.25 crore accounts.

Topic: Corporates/Companies

The purpose of partnership is to develop short videos that highlight role of women changemakers.
Netflix in partnership with I&B Ministry has released short videos under the initiative called ‘Azadi Ki Amrit Kahaniya’.
Poonam Nautiyal, Tessy Thomas, Tanvi Jagdish, Aarohit Pandit, Basanti Devi and Anshu Jamsenpa and Harshini Kanhekar are seven women changemakers who appeared in the short videos.
Netflix is an American subscription streaming service Company.

Topic: Indian Economy/Financial Market

The imported crude oil was valued at $119.2 billion in FY22. In value terms, the imports were highest since FY14.
The imports of crude oil increased by 5.4% during March 2022. It increased by 8% during entire FY22.
On an annual basis, imports of crude oil increased by 92% from $62.2 billion in FY21.
In terms of volume, imports of India’s crude oil during FY22 were higher than that during FY21 (196.5 mt). It is less than FY20 (227 mt).
India is the third biggest oil consumer of the world.

Topic: Corporates/Companies

It has also received net negative emission status. It is an associate company of Tata Consumer Products.
It is largest tea plantation firm in South India. A survey of KDHP plantations was carried out by Nansen Environmental Research Centre (India).
It was found that carbon sequestration from KDHP’s landscape was almost four times than what it emitted.
KDHP is a plantation company headquartered in Kerala.

Topic: Banking/Financial Schemes

The scheme has been given extension beyond March 2022 till December 2024.
Under Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, street vendors are provided affordable collateral-free loans. It was launched in June 2020.
Under the scheme, loans for an amount of Rs. 5,000 crore were initially envisaged.
The loan amount of ₹5,000 crore has been increased to ₹8,100 crore. This will benefit about 1.2 crore citizens of Urban India.
Government has also increased budget for promoting digital payments, which include cashback to vendors.

Topic: Corporates/Companies

Bioprime Agrisolutions was the runner-up of the challenge. The challenge called for enhancing profitability of small scale farmers.
The challenge was announced by Cisco and The/Nudge Institute in December 2020 in collaboration with Office of Principal Scientific Adviser, Govt. of India.
The winner organization was given a prize money of ₹1 crore and the runner-up was given ₹25 lakh.

Topic: Corporates/Companies

LIC IPO will open for general public from 4th May to 9th May.
As per Department of Investment and Public Asset Management (DIPAM) secretary, LIC IPO will be the biggest in the country till date.
The issue size for IPO has been reduced from 5% to 3.5%.
Government aims to raise ₹21,000 crore through this IPO. Total IPO value is fixed at 21,000 crore rupees.
The IPO will be listed on stock exchanges on May 17.
Four types of investors during IPO:
- During the process of IPO, four types of investors can make a bid as per SEBI guidelines.
- They are qualified institutional investors (QIIs), anchor investors, retail Investors and high net-worth individuals (HNIs)/non-institutional investors (NII).
Anchor investors:
- They get confirmed allotment and are qualified institutional buyers (QIBs).
- They were brought to financial markets in 2009. They can get up to 30% of issue’s part available to QIBs.