Lok Sabha to take up Banking Regulation Bill #Teji for depositors of co-operative banks
The Lok Sabha is expected to take up Banking Regulation (Amendment) Bill, 2020 for consideration and passing on September 15.
The bill aims to bring co-operative banks under the supervision of the Reserve Bank of India (RBI). The bill will also permit the RBI to initiate a scheme for reconstruction or amalgamation of a stressed lender without imposing a moratorium.
ADB expects India's economy to contract #Mandi for the economy
Asian Development Bank expects India's economy to contract by 9% in FY2020-21 as against 4% forecast in June as the Covid-19 pandemic weighs heavily on economic activity and consumer sentiment in the country.
ADB, however, forecasts a strong recovery for India's economy in FY2021-22, with gross domestic product (GDP) expected to grow at 8%.
Yes Bank inks an agreement with SBI General #Teji for Yes Bank's investors
SBI General Insurance and YES Bank have signed a corporate agency agreement. Under this, Yes Bank will be able to sell SBI's general insurance products to its customers.
"SBI General has been doing meaningful associations with banks, payments apps, e-commerce players, brokers to strengthen its distribution footprint across the country,” the company said in a statement.
