- The Central Government has announced to infuse Rs 14,500 crore in four state-owned lenders namely Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank in 2020-21, by issuing non-interest bearing bonds to these banks. This infusion will complete the government’s total capital infusion of Rs 20,000 crore in public sector banks for the current financial year 2020-21. Earlier in December 2020, it infused Rs 5,500 crore in Punjab and Sind Bank.
- Utkal Divas or Utakala Dibasha is celebrated on April 1 every year to remember the formation of the Odisha state after a struggle to be recognised as an independent state. Under British rule, Odisha was part of the Bengal presidency, which consisted of the present-day Bihar, West Bengal, and Odisha.
- India’s largest lender, State Bank of India, has raised $1 billion from Japan Bank for International Cooperation (JBIC) to extend loans to the supply chain of the Japanese automobile industry in India. The loan is in the form of refinancing against the funding support provided to the manufacturers, suppliers and dealers of Japanese automobiles in India.
- The Reserve Bank of India (RBI) has extended the timeline for processing recurring online transactions by 6 months to September 30, 2021. Earlier in December 2020, RBI had directed all banks including RRBs, NBFCs, and payment gateways that the processing of recurring transactions (domestic or cross-border) using cards or Prepaid Payment Instruments (PPIs) or Unified Payments Interface (UPI) would not be continued beyond March 31, 2021, if they do not comply with Additional Factor of Authentication (AFA).
- Private sector lender Axis Bank has entered into a Share Purchase Agreement for sale of 100 per cent stake in its subsidiary, Axis Bank UK Limited to OpenPayd Holdings Ltd. The agreement was entered on March 31, 2021, and the transaction is subject to approval by the UK Financial Regulator, the Prudential Regulation Authority (PRA).
History on this Day:
(2001) Netherlands becomes the first country in the world to make same-sex marriage legal
(1992) NHL players begin first strike in 75-year history; 10 day action earns large playoff bonus increase, more control over licensing of their likenesses and changes to free agency system.