 Union Finance Ministry is planning to infuse additional capital close to Rs 11,336 crore in 5 more public sector banks (PSBs) by September 2018-end. These five state-owned banks are Punjab National Bank (PNB), Corporation Bank, Andhra Bank, Allahabad Bank and Indian Overseas Bank (IOB). |
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 Kisan Mela was organized at State Bank of India's rural and semi-urban branches across the country to impart financial literacy to farmers. It is one-of-its-kind initiative to develop connect with farmer customers, resolve their grievances and educate them about their various rights and bank's initiatives. As part of the mela, SBI also plans to offer Kisan Credit Cards to farmers. The bank also made farmers aware of the benefits of timely renewal of KCC account and usage of KCC Rupay Card for transactional convenience. |
| Source- DD News |
 The finance ministry has approved an infusion of Rs 11,336 crore in five state-owned lenders including PNB, Corporation Bank and Andhra Bank to help them meet the regulatory capital requirement. This is the first ever capital infusion in the current fiscal and the remaining amount of Rs 53,664 crore would be disbursed during the course of the year. |
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Which bank will get how much:
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| Source- The Economic Times |
 Jammu & Kashmir's first all-women branch of Jammu and Kashmir Bank was inaugurated. First Lady Usha Vohra e-inaugurated the first 'All-Women Branch of Jammu and Kashmir Bank' at a function organised at the Sher-i-Kashmir International Convention Centre (SKICC). The total staff strength of the bank is 13. Ms Vohra also launched special services and products designed exclusively for women clients of the bank, which included Pink Gold Saving Scheme, Pink Platinum Saving Scheme, Special Loan Facility for Women Entrepreneurs, Pink Gold Debit Card and Pink Platinum Credit Card. |
| Source- NDTV News |
 Jana Small Finance Bank announced the commercial launch of its banking operations, the last microfinance company to convert itself into a small finance bank (SFB), three years after the Reserve Bank of India (RBI) gave its in-principle approval. The small finance bank was earlier called Janalakshmi Financial Services and weathered huge losses on account of demonetization. |
| Source- The Livemint |
 According to the data of the commerce and industry ministry, India's wholesale inflation grew 5.77% in June, a four-and-half-year high, driven by some food items and fuel price. A higher inflation in the month of June can also be attributed to an unfavourable base effect. WPI witnessed a growth of 4.43% in May and 0.90% in June 2017. |
| Source- The Moneycontrol |
 State Bank of India and National Bank for Agriculture and Rural Development (NABARD) have joined hands to provide collateral-free credit through Joint Liability Groups (JLGs) in Telangana. The two signed an MoU, along with seven NGOs from Nizamabad, Medak and Warangal districts, for the promotion and credit linkage of 2,000 JLGs during the current year. |
| Source- The Times of India |
 The board of Life Insurance Corporation of India (LIC) has approved the proposal for the insurer to hold a 51% stake in IDBI Bank. The announcement was made by Subhash Chandra Garg, Secretary, Department of Economic Affairs. The life insurer has around 7.5% stake in LIC at present and will acquire the remaining stake from the government. Using this route rather than LIC directly buying the government’s stake in IDBI Bank will ensure that the bank receives the capital. |
| Source- DD News |
 Industrial production growth slipped to a seven-month low of 3.2% in May mainly due to sluggish performance of manufacturing and power sectors and other reasons, according to the data released by theCentral Statistics Office. The manufacturing sector, which constitutes 77.63% of the index, grew by just 2.8% in May, marginally up from 2.6% in the corresponding period last year. The mining sector output recorded an impressive growth of 5.7% in May as against 0.3% in May 2017. The FMCG sector was the worst performer among the user based goods segment. |
| Source- The Economic Times |
 The Reserve Bank of India (RBI) has made it compulsory to incorporate purchaser’s name on the face of payment instrumentalities like demand draft, pay order, banker’s cheques and other instruments to prevent money laundering. It has been done in order to address the concerns arising out of the anonymity and to prevent money laundering. The RBI issued a notification in Mumbai to this effect to the banks. This directive will come into effect from 15th of September 2018. |
| Source- The Quint |
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