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- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2 crore on Standard Chartered Bank–India for delays in reporting of frauds. The penalty has been imposed on the bank for non-compliance with certain directions issued by it contained in the ‘Reserve Bank of India (Frauds – Classification and Reporting by commercial banks and select FIs) Directions 2016’.
- The RBI state-owned SBI, along with private-sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are ‘too big to fail’.SBI, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as in the 2018 list of D-SIBs
- Axis Bank has unveiled a credit ‘AURA’ exclusively loaded with several health and wellness benefits for its users at an affordable price.
- Axis Bank has partnered with Poshvine to offer benefits and specialists such as Decathlon, Practo, Fitternity, IndushealthPlus, 1MG etc., to offer a complete and unique health & wellness solution to the cardholders
- The Ministry of Electronics and Information Technology (MeitY) has announced the establishment of a Quantum Computing Applications Lab in partnership with Amazon Web Services (AWS).
- The move will give select researchers, scientists access to Amazon’s Bracket cloud-based quantum computing service. It is to be implemented by the Department of Science and Technology operating under the Ministry of Science and Technology. The Union Budget 2020-21 had proposed to spend Rs 8,000 crores on the National Mission on Quantum Technologies and Applications
History on this Day:
(1857) National Association of Baseball Players founded in New York
(2020) China locks down the city of Wuhan and its 11 million people, in an effort to control COVID-19 with a then official death toll of 17 and over 500 people ill