 Airtel Payments Bank has received requisite approvals from the Reserve Bank of India (RBI) to begin taking new customers. Also, Aadhaar-issuing authority UIDAI has allowed it to use the 12-digit unique identification number-based e-KYC. The development comes nearly seven months after Airtel, along with Airtel Payments Bank, came under fire for allegedly opening payments bank accounts of its mobile subscribers without their consent. RBI thereafter had directed Airtel Payments Bank not to on-board new customers while Aadhaar-issuing body UIDAI had suspended the e-KYC licence of both Airtel and the payments bank. |
| Source- The Livemint |
 The India-Korea Technology Exchange Centre was inaugurated at National Small Industries Corporation premises in New Delhi. It was inaugurated by Minister of State (I/C) MSME Giriraj Singh and Minister of SMEs and Start-ups of South Korea, Hong Jong- hak. |
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 The Union Government has constituted 13-member Committee for Sub-National Accounts to upgrade the norms for computation of economic data at states and districts level in backdrop of plans to revise the base year for National Accounts or Gross Domestic Production (GDP) calculation. It will be headed by Ravindra H Dholakia, a retired professor of IIM Ahmedabad. |
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 The Banks Board Bureau (BBB) has recommended 15 executive directors to be elevated as managing directors (MD) at various public sector banks (PSBs). It was headed by former Department of Personnel and Training Secretary B P Sharma. These recommendations were based on interactions held by BBB and are subject to various clearances. The Appointments Committee of Cabinet (ACC) headed by Prime Minister will take the final decision in this regard. |
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 In a first-of-its-kind transaction, the Insurance Regulatory and Development Authority of India (IRDAI) has approved a proposal allowing Life Insurance Corporation (LIC) to acquire a majority stake in the IDBI bank. Under the proposal, the public sector life insurance behemoth can raise its stake in the public sector bank to 51%, injecting Rs10,000-13,000 crore in the debt-ridden lender. The acquisition, however, will be seen only as an investment and LIC will gradually lower its stake in the lender. |
| Source- The Hindu Business Line |
 RBL Bank has raised its stake in Swadhaar Finserve Pvt. Ltd to 100% from 60.48%. The bank has bought the stake it did not own from US-based non-profit Accion. Swadhaar FinServe started operations as a non-banking finance company in 2008. It subsequently converted into an NBFC-MFI. It became a business correspondent for RBL Bank in 2014 and transferred its microcredit portfolio to the bank. In November 2017, RBL Bank increased its stake in Swadhaar to 60.48%. |
| Source- The Livemint |
 The Export-Import Bank of India (Exim Bank) announced that it has extended $10 million worth of line of credit (LOC) to Seychelles. This is for healthcare and procurement of goods and projects. It is the first tranche of the $50 million sanctioned by the Exim Bank to the country. With this agreement for $10 million, Exim Bank has extended two LOCs to Seychelles, taking the total value to $28 million. |
| Source- The Economic Times |
 India has notified higher tariffs on 29 items imported from United States (US). This is was in retaliation against US announcement imposing tariffs on steel and aluminium items — 25% and 10% respectively — imported from all countries except Canada and Mexico in March 2018 to compensate from loss of revenue. |
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 State Bank of India's (SBI) Managing Director B Sriram was appointed as the IDBI Bank's CEO and Managing Director for a temporary period of three months. He has been appointed in place of incumbent Mahesh Kumar Jain who was recently named Deputy Governor of the Reserve Bank of India (RBI). Sriram has been working as the MD (Corporate and Global Banking) in SBI since July 2014. He had been Managing Director of State Bank of Bikaner and Jaipur. |
| Source- NDTV News |
 The Reserve Bank of India (RBI) revised the upwards housing loan limits under Priority Sector Lending (PSL). The housing loan limits were revised to bring the union of the PSL guidelines for housing loans with the Affordable Housing Scheme of the Union Government and to give a stimulus to low-cost housing for the economically weaker sections and low-income groups. Housing loans of up to Rs 35 lakh for residences costing less than Rs 45 lakh will now be treated as Priority Sector Lending (PSL) to give a boost to the low-cost segment. The housing loan limits for eligibility under priority sector lending will be revised to Rs 35 lakh in metropolitan centres and to Rs 25 lakh in other centres. |
| The existing family income limit of Rs 2 lakh per annum for availing of the loans for housing projects for Economically Weaker Sections (EWS) and Low Income Groups (LIG) now stands revised to Rs 3 lakh per annum and Rs 6 lakh per annum, respectively. These changes have been done in alignment with the income criteria specified under the Pradhan Mantri Awas Yojana (PMAY). |
| Source- The Economic Times |
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