♦ Yes Bank Senior Group President and head of retail and business banking, Pralay Mondal resigned from his post.
♦ He will serve his notice till 31st March 2019.
♦ Pralay Mondal joined Yes Bank in 2012.
♦ The Reserve Bank of India has imposed a penalty of a total Rs 5.2 crore on Axis Bank, UCO Bank, and Syndicate Bank for violating the guidelines in regulatory compliance. The segregation of the Penalised amount are as follows:
♦ The segregation of the Penalised amount are as follows: Axis Bank has been imposed with a Penalty of 2.2 crores and 2 crores on UCO Bank and 1 crore on Syndicate Bank for violation of norms.
♦ The RBI has also imposed a penalty of 2 crores each on Axis Bank and UCO Bank for non-compliance of norms related to payment through cheques.
♦ Further Axis Bank has also imposed a penalty of 20 lakhs for the detection and impounding of counterfeit notes.
♦ Syndicate Bank is imposed with a penalty of Rs.1 crore for contradicting the norms in checking norms and Risk Management.
♦ The Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore.
♦ The investment by ADB will expand Annapurna's net worth to Rs 580 crore.
♦ ADB brought this stake with a motive of attracting long-term funds from global lenders and investors.
♦ Annapurna Finance Pvt. Ltd is a non-banking financial company-microfinance institution (NBFC-MFI) regulated by RBI.
♦ P V Bharathi appointed as the Chief Executive Officer (CEO) of the Corporation Bank.
♦ P V Bharathi became the first women CEO of the Bank.
♦ Bharathi is former executive director of Canara Bank. she has been executive director of Canara Bank since September and served as the firm's general manager in the risk management wing.
♦ Two regional rural banks (RRB), Pallavan Grama Bank and Pandyan Grama Bank will be amalgamated into a single RRB i.e. Tamil Nadu Grama Bank in Tamil Nadu
♦ Pallavan Grama Bank is sponsored by Indian Bank and Pandyan Grama Bank is sponsored by Indian Overseas Bank, both state-run lenders headquartered in Chennai.
♦ The Mizoram Government issued an order to ban the import of pigs and piglets because there is a possibility of an outbreak of Porcine Reproductive and Respiratory Syndrome (PRRS).
♦ PRRS disease is also called as Swine Flu, the virus of this disease generally transmitted from pigs and affects both pigs and humankind.
♦ Basically, the pigs imported from Myanmar are in suspect point, pigs imported from other countries too have been banned as a move to prevent the outbreak of the PRRS in the state.
♦ Odisha Chief Minister Naveen Patnaik has launched a scholarship scheme named "KALIA Chhatravritti Yojana" for farmer's children who are the beneficiaries of Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme.
♦ The scholarship 'KALIA Chhatra Bruti' will be awarded to farmer's children who are planning to pursue higher education.
♦ .Kerala has become the 1st state to set up a Price Monitoring and Research Unit (PMRU) to
♦ This unit will track violation of prices of essential drugs and medical devices under the Drugs Prices Control Order (DPCO).
♦ The move comes more than five years after the National Pharmaceutical Pricing Authority (NPPA) proposed such a system for the state and the union territories.
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