 Reserve Bank allowed a one-time restructuring of existing debt up to Rs 25 crorefor the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which are facing a cash crunch in the wake of demonetization and GST implementation. To be eligible for the scheme, the aggregate exposure, including non-fund based facilities of banks and NBFCs, to a borrower should not exceed Rs 25 crore as on January 1, 2019, and the restructuring has to be implemented by 31st of March 2020. |
| Source- AIR World Service |
 The Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its consumers after almost six months of the ban. Paytm Payments Bank stopped enrolling new customers in June 2018, following an audit by the RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms. |
| Source: The Economic Times |
 The government has infused 10,882 crore Rupees in four public sector banks, including UCO Bank and Syndicate Bank. It is a part of 28,615 crore rupees capital infusion to be done in about half a dozen public sector lenders. UCO Bank has received 3,074 crore rupees in the equity by way of preferential allotment yesterday. Besides, Bank of Maharashtra got 4,498 crore rupees, Syndicate Bank 1,632 crore rupees and Central Bank of India 1,678 crore rupees. |
| Source- The Economic Times |
 Allahabad Bank and SBI Life Insurance came together and signed a bancassurance pact, to offer a holistic financial planning solution to consumers. The tie-up, one of the largest Bancassurance partnerships in the country, will see 3,238 branches of Allahabad Bank across the country offer SBI Life’s range of protection, wealth creation, and savings products to its customers. This will empower the consumer to address their complete financial needs under one roof. The agreement was signed in the presence of Allahabad Bank Managing Director (MD) and Chief Executive Officer (CEO) Mallikarjuna Rao and SBI Life MD & CEO Sanjeev Nautiyal. |
| Source- The Hindu Business Line |
 Justice Thottathil Bhaskaran Nair Radhakrishnan was sworn in as the first Chief Justice of the Telangana High Court. The oath to the office was administered to Justice Radhakrishnan by Telangana and Andhra Pradesh Governor ESL Narasimhan at a ceremony held at Raj Bhavan. With this, the state of Telangana will have its first independent high court. |
| Source- ANI News |
 Jair Bolsonaro was sworn in as Brazil’s President in a ceremony at Brazil’s National Congress Building. Bolsonaro is a former Army captain and admirer of the country’s 1964-1985 military dictatorship. Bolsonaro, 63, was a seven-term fringe congressman who rode a wave of anti-establishment anger to became Brazil’s first far-right president since a military dictatorship gave way to civilian rule three decades ago. |
| Source- The Livemint |
 Axis Bank announced its Managing Director and CEO Shikha Sharma has retired from the post and Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019. Chaudhry, the former MD and CEO of HDFC Standard Life Insurance Company, was in September named the MD and CEO of Axis Bank for a period of three years. |
| Source- Business Times |
 The country achieved yet another milestone in the power sector with the completion of electrification in 100% households in 25 states at year end. Now, only about 10.48 lakh households are left to be electrified in 4 states – Assam, Rajasthan, Meghalaya andChhattisgarh. These states are also taking all concerted efforts to achieve, at the earliest, saturation of household electrification. Since the launch of Saubhagya, in the state of Uttar Pradesh, 74.4 Lakh willing households have been electrified and state government has declared saturation of all 75 districts. |
| Source- DD News |
 Petroleum and Natural Gas Minister, Dharmendra Pradhan launched ‘Ujjwala Sanitary Napkins’ initiative saying it will go a long way in making Odisha’s 2.25 crore women empowered and self-reliant. Under the novel initiative, which will cover 93 blocks in 30 districts of Odisha, oil marketing companies (OMC) will set up 100 manufacturing units at the Common Service Centres (CSC) at an estimated cost of Rs 2.94 crore. |
| Source- The Times of India |
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