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  • 02-Dec-2016
  • Aditya Birla Group to enter health insurance business 

    •  India's Aditya Birla Group (ABG) has decided to venture into the health insurance sector under the brand Aditya Birla Health Insurance
    • ABHICL is a joint venture between the Aditya Birla Group and MMI Holdings Ltd. (MMI), a large and diversified financial services leader in South Africa.
  • 29-Nov-2016
  • RBI relaxes cash withdrawal limits from bank accounts

    • The Reserve Bank of India late Monday issued a notification relaxing current cash withdrawal limits of legal tender notes at banks and ATMs on or after November 29
    • The withdrawals will be available in higher denominations bank notes of Rs 2000 and Rs 500.
  • Goa will be first state to go cashless from December 31

    • Goa becomes the first state in India to go cashless from December 31
    • One has to dial *99# from their mobile phone, not necessarily a smart phone, and follow the instructions to complete the transcation.
  • Ola teams up with SBI, PNB for setting up mobile ATMs.

    • Indian online transportation network company Ola cabs has tied up with lenders like State Bank of India (SBI) and Punjab National Bank (PNB) to set up mobile ATM in the cab to help people withdraw cash easily.
  • 28-Nov-2016
  • Bajaj Allianz General Insurance and Canara Bank tie-up

    • Public sector bank Canara Bank has signed a corporate agency agreement Bajaj Allianz General Insurance for the distribution of Bajaj Allianz’s general insurance products through its branches
  • 24-Nov-2016
  • Airtel launches India’s first Payments Bank service in Rajasthan

    • Airtel Payments Bank Limited or Airtel Bank became the first payments bank in the country to launch live banking services in Rajasthan.
  • Insolvency And Bankruptcy Board Of India Notifies Regulations

    • The Insolvency and Bankruptcy Board of India (IBBI) has notified two new regulations that govern the eligibility criteria for becoming a professional member of an Insolvency Professional Agency 
    • As per the regulations, a company registered under Section 8 of the Companies Act, 2013, with a minimum net worth of Rs. 10 crore shall be eligible to be an Insolvency Professional Agency.

  • NABARD to disburse Rs. 21,000 to farmers via cooperative banks

    • The union government has allowed National Bank for Agriculture and Rural Development (NABARD) to disburse Rs 21,000 crore to cash-starved farmers
    • NABARD will disburse the money to District Central Cooperative Banks (DCCBs) which will pass it on to the farm cooperatives
  • 23-Nov-2016
  • RBI relaxes prudential norms on Income Recognition, Asset Classification

    •  The Reserve Bank of India (RBI) on 21 November 2016 relaxed the prudential norms on income recognition, asset classification and provisions pertaining to advances.
    • Regulated entities (REs), such as banks and non-banking finance companies (NBFCs), are allowed an additional 60 days for repayment of loans
  • Union Government constitutes committee to assess the status of demonetisation drive

    • The Union Finance Ministry has constituted a committee comprising Additional Secretaries, Joint Secretaries and Directors to know status of implementation of demonetisation drive.
    • The teams will be constituted by the Department of Personnel Training and concerned officers. The teams shall visit the States or UTs allocated to them for at least 2 days.
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