SBI :- Banking Affairs (January 2019) India

                       SBI
SBI Card and Etihad Guest tie-up to launch premium card for international travel
SBI Card and Etihad Guest, the loyalty programme of Etihad Airways, have joined hands to launch a travel specific
Visa credit card for members and Indian travellers. This is the first international co-brand partnership of SBI Card,
the country's second largest credit card issuer. The card will be available in two variants, Etihad Guest SBI Card and
Etihad Guest SBI Premier Card, will bring an unmatched value proposition to Etihad Guest members and
international travellers from India. It has been launched against the backdrop of increasing international travel in the
country. Travel is now a key spend category for Indian consumers, with 33 per cent of overall card spends in the SBI

Card portfolio made within the travel industry.


State Bank of India set to own 15% in Jet Airways
>>India’s largest lender State Bank of India (SBI) is set to swap part of its loans into a stake of at least 15 per cent in Jet
Airways. The airline's founder and chairman Naresh Goyal stake cut to below 20 per cent from 51 per cent
>>Etihad Airways PJSC, the foreign partner with a 24 per cent stake, is expected to infuse additional funds to take its
holding to more than 40 per cent


        OTHER BANKING NEWS

Allahabad Bank, SBI Life Join hand for Bancassurance Partnership 

 State-owned Allahabad Bank has tied up with SBI Life Insurance to sell the policies of the insurer from over 3,200

branches, the tie-up, one of the largest Bancassurance partnerships in the country, 3,238 branches of Allahabad Bank

across the country offer SBI Life's range of protection, wealth creation and savings products to its customers.

RBI allows Paytm Bank to restart account opening

 >>Paytm Payments Bank has received the green light from the Reserve Bank of India to restart opening accounts for its

customers, Paytm Payments Bank had stopped enrolling new customers from 20 June following an audit by RBI,

which made certain observations about the process the company follows in acquiring new customers and its

adherence to know your customer (KYC) norms.

Complaints registered at Banking Ombudsman surge 25% in FY18

>>The number of complaints registered at banking ombudsman offices have seen a 25% increase in the fiscal year

2018.The banking ombudsman offices in tier-1 cities like New Delhi, Mumbai, Chennai, Kolkata, Bengaluru and

Hyderabad accounted for more than 57% of the total complaints received. 97% of the Complaints were resolved in

2017-18, up from 92% a year earlier. Most complaints received against public sector banks were pension-related

while most complaints received against private banks were for credit cards discrepancies.

HDFC Mutual Fund piped ICICI Prudential Mutual Fund to become largest AMC in India

>>HDFC Mutual Fund has piped ICICI Prudential Mutual Fund to become the country's largest asset management  

company (AMC) after a gap of over two years. As of December-end, HDFC MF manages assets to the tune of Rs 3.35

lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore.

 SBI MF is at the third slot with AUM of Rs 2.64 lakh crore, followed by Aditya Birla Sun Life MF Rs 2.42 lakh crore,

and Reliance MF Rs 2.36 lakh crore.

Bharti AXA Life delivers policy, renewal premium receipts via WhatsApp

>>Private sector insurer Bharti AXA Life Insurance has started delivering policies and renewal premium receipt to

customers via instant messaging platform WhatsApp. Bharti AXA Life Insurance, a joint venture between Bharti

Enterprises and French Insurance major AXA.

Public Sector lender Syndicate Bank and SBI Life Insurance signed Bancassurance pact

>>Syndicate Bank and SBI Life Insurance have signed a pact to offer a comprehensive financial planning solution to its

customers. This partnership will see over 3000 branches of Syndicate Bank offer SBI Life’s diverse range of insurance

products to its customers.

ICICI Bank, Small Business FinCredit join hands to provide loans to MSMEs

>> Private lender ICICI Bank has joined hands with Small Business FinCredit (SBFC) to jointly offer loans worth Rs 1

crore to the Small and Medium Enterprises (SMEs), for tenure of 15 years per customer.

>>Under the pact, the bank will co-originate loan against property with SBFC at a mutually settled ratio.

AGS Transact Tech set to launch QR-based cardless withdrawals at white-label ATMs

>>Payment solutions provider AGS Transact Technologies has initiated cardless cash withdrawals, based on quick

response (QR) code on its white-label ATMs (WLAs).

>> AGS Transact operates white-label ATMs under the ‘OnGo’ brand name.

UBI, Srei Equipment Finance enter pact for MSME sector finance

>>United Bank of India and Srei Equipment Finance has entered into an agreement for financing the MSME and

agriculture sectors. Under the pact, UBI would leverage its low-cost loans with Srei to enable purchase of equipment

and vehicles in a seamless manner.

Centre amalgamates three regional rural banks into a single Bank

>> CICI Bank has become the top arranger of bond issues for the period between April and December 2018. According

to data from Prime Database, the private sector bank helped Indian firms raisers. Rs. 95,856.10 crore through bondsand non-convertible debentures through 107 issues. This was followed by Axis Bank, which helped India Inc raise Rs.

93,296.27 crore from such instruments through a total of 101 issues. According to the data, Indian companies raised a

total of Rs. 3.65 lakh crore from bonds and NCDs through 1,547 issues between April 1 and December 31 last year.

DHFL raises Rs. 1,375 crore via securitisation financing

>>Dewan Housing Finance Corporation Ltd has raised Rs. 1,375 crore from funds managed by Oaktree Capital

Management. L.P. Oaktree is a leading global alternative investment management firm with assets under

management of about $124 billion

>>DHFL intends to further reduce its real estate project finance exposure through more such transactions in the future

IndiaFirst Life Insurance buys 9 percent stake in CSC e-Governance Services

>>IndiaFirst Life Insurance has bought nine per cent stake in CSC e-Governance Services India Ltd. IndiaFirst Life

Insurance is a joint venture between Bank of Baroda, Andhra Bank and Legal and General (UK)

>>CSC is an integral part of Digital India initiative of the government under Ministry of Electronics and Information

Technology. The financial inclusion journey, the two entities have worked towards enabling village-level

entrepreneurs for reaching out to the last mile customers with tailored solutions

FDI grew 18% in FY18 to Rs 28.25 lakh crore: RBI data

>>According to RBI data on 'Census on Foreign Liabilities and Assets of Indian Direct Investment Companies, 2017-18',

foreign direct investment (FDI) during the previous fiscal grew 18 per cent to Rs 28.25 lakh crore. FDI increased by

Rs 4,33,300 crore, including revaluation of past investments, during 2017-18 to reach Rs 28,24,600 crore in March

2018 at market value

>> Overseas direct investment (ODI) by Indian companies increased by 5 per cent to Rs 5.28 lakh crore

>> The census showed that Mauritius continued to be the largest source of FDI in India (19.7 per cent) followed by the

US, the UK, Singapore and Japan.

>> In case of overseas investment by Indian companies, Singapore (17.5 per cent) was the major destination, followed by

the Netherlands, Mauritius and the US

NABARD fix 2019-20 priority sector lending target at Rs. 1,01,378 crore for Telangana

>>The National Bank for Agriculture and Rural Development (NABARD) has fixed the total priority sector credit

potential for Telangana at Rs. 1,01,378.60 crore for 2019-20

>> This represents a 9 per cent increase over the target for 2018-19 which at was at Rs. 83,389 crore

>>NABARD has released its State Focus Paper at the State Credit Seminar, this serves as a guiding document for banks

and state government