Banking Affairs 22nd February 2017 | Financial Awareness 22nd February 2017

Infrastructure will continue to draw most investment: Rakesh Singh, HDFC Bank

Saikat Das and Baiju Kalesh, Rakesh Singh, group head for investment banking, capital and commodity markets, HDFC Bank, said that with bank rates falling, the spread or gap between loan and bond markets has narrowed, but corporates will continue to raise funds through a combination of both serving different purposes.

BharatQR launched to make e-payments

1. Payment networks such as MasterCard and Visa have joined hands with NPCI to launch BharatQR, a common Quick Response(QR) code that would enable seamless digital payments without card swiping machines.

2. NPCI, Mastercard and Visa have developed BharatQR

3. BharatQR is a revolutionary step as it provides an interoperable solution.

Karnataka Bank Signs MoU with Daimler

1. Karnataka Bank has entered into a MoU with Daimler India Commercial Vehicles Pvt Ltd to extend finance to customers for the purchase of commercial vehicles manufactured by the company

2. The deal will benefit the customers belonging to sectors such as MSME (Micro, Small and Medium Enterprises) to purchase commercial vehicles.

SBI chief moots dedicated spectrum for financial transactions

1. SBI  chairperson Arundhati Bhattacharya 22 Feb 2017 called for better telecom infrastructure to drive the digital payments agenda of the government and suggested this can be achieved by ensuring dedicated spectrum for financial transactions alone.

2. She said the biggest problem the banks faced during the note ban drive when there was a spike in digital transactions, was the insufficient quantum of spectrum for the infrastructure to take the additional load, which resulted in many transactions getting timed out and causing inconvenience to customers.

CII signs MoU with Singapore trade and business agencies

1. In Between Indian and Singapore business institutions, the Confederation of Indian Industry (CII) has signed a Technology Partnership MoU with two Singapore agencies to promote expertise in expanding businesses.

2. The MoU was signed yesterday with International Enterprise (IE) Singapore and the Singapore Business Federation (SBF), a first between Indian and Singapore business institutions.

2. Underlining the MoU importance, the High Commissioner Jawed Ashraf called it “a step in the right direction” to building a stronger partnership for expanding businesses.

Bills to limit Fed’s policy freedom ‘deeply concerning’: Harker

1. Proposed congressional bills that would limit the Federal Reserve’s ability to independently decide policy are deeply concerning though the Fed, in order to be more transparent, can “communicate better” what motivates such decisions, a Fed official said on 31 Feb 2017.

2. “I am deeply concerned” about efforts in the Senate and House to increase lawmakers’ oversight and control over monetary policy decisions, Philadelphia Fed President Patrick Harker said at the Wharton School of the University of Pennsylvania.

India has a lot to learn from Rwanda: Official

1. India has a lot to learn from Rwanda on governance models like sanitation and smart city and efforts are being made to give more content to the bilateral strategic relationship, a top government official said.

2. “Vice President Hamid Ansari had a very fruitful visit to Rwanda and during bilateral talks, both sides endeavoured to give our strategic relationship more content. We think it’s a great governance model and the Vice President has stated that he hasn’t seen a better capital city.

HDFC Bank FPI trades: Sebi, RBI mull safeguards

1. Sebi and RBI are working on a more robust system for reporting of trades done by FPIs and ensure compliance with sectoral caps amid confusion over their exposure breaching the 74 percent limit in HDFC Bank.

2. A day after allowing FPIs to buy shares of HDFC Bank, the Reserve Bank of India (RBI) on February 17 restored the cap as the exposure crossed the prescribed 74 percent threshold.

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