RBI

Governor, Reserve Bank of India meets MD & CEOs of Public and Private Sector Banks (NOV 16, 2022)

The Governor advised the banks to remain watchful of the evolving macroeconomic situation, including global spillovers, and take mitigating measures proactively so that the potential impact on their balance sheets is minimised and financial stability risks are contained. 

Among other matters, issues relating to lagging growth in deposits vis-à-vis credit growth, asset quality, investments in IT infrastructure, adoption of new-age technology solutions, functioning of Digital Banking Units, etc. were also discussed.

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IFSCA

International Financial Services Centres Authority (IFSCA) executes MoU with the Reserve Bank of India (RBI) (NOV 16, 2022)

The MoU opens up avenues for cooperation between the two regulators, thereby strengthening the safety, stability and soundness of respective financial ecosystems and nurturing environments conducive to optimal business development and economic growth.

IFSCA is entrusted with the responsibility of regulation and supervision of authorized banks and non-banking financial institutions operating in such IFSCs.

For Press Release, Click Here

SUPREME COURT

Supreme Court stays Bombay High Court observation on adopting stray dogs for feeding them (NOV 16, 2022)

The Supreme Court on Wednesday stayed the Bombay High Court's observation about those interested in protection and welfare of stray dogs, including feeding them, in Nagpur must adopt or put them up in dog shelter homes and bear expenses for their maintenance.

The apex court directed the Nagpur Municipal Corporation to take steps for the general public to feed stray dogs at appropriate locations, demarcated and identified by them.

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PFRDA

PFRDA Now Allows Paperless Onboarding With CYKCR to Open NPS Account (NOV 16, 2022)

The pension fund regulator PFRDA on Monday announced its new decision to allow users to get benefits and avail of financial services through the government’s central KYC. PFRDA has already started digital onboarding under the national pension system through documents issued through DigiLocker, Aadhaar eKYC, PAN or bank account information, etc.

CKYC facility has been initiated by the central government to provide relaxation to the NPS subscribers who are using Aadhar-based offline paperless KYC. PFRDA has facilitated the procedure to save customers from the hassle of getting KYC done repeatedly for availing financial services falling under various regulators.

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NEWS AT GLANCE

  • G-20 Presidency handed over to India; Next year's Summit to be held in New Delhi on 9th and 10th September.
  • India and France review cooperation in defence, civil nuclear, trade and investment.  
  • Britain approves three thousand work visas for young Indian professionals.
  • Madhya Pradesh government implements Panchayat Extension to Scheduled Areas (PESA) Act to preserve tribal population from exploitation.  
  • India-US joint military training exercise Yudh Abhyas to begin today in Auli, Uttrakhand.  
  • Railway Ministry allows IRCTC to customize menu of food served in trains.

WORD OF THE DAY

Audi Alteram Parterm is a phrase of Latin which also means audiatur et altera pars. Its meaning is "Hear the other side" or the other side also heard as well. This is a strong principle that no person shall be judged without a fair hearing. 

This principle is meant to give each party to give opportunity to respond to the evidence against them.

MARKET TODAY (as on 16.11.2022)

BSE SENSEX            61,980.72 INR▲ +107.73 (+0.17%)   

NIFTY 50                  18,409.65 INR▲ +6.25 (+0.034%)

1 US Dollar = 81.29 Indian Rupee (Last updated · 16 November at 1:40 pm UTC)

 

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