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Important Current Affairs 8th December 2019

RBI allows ‘on tap’ Licensing of Small Finance Banks in the Private Sector

• The Reserve Bank of India has released the Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector. On tap licensing means, that now one can apply to open a Small Finance Bank whenever he/she wishes to open. This is unlike the previous case where RBI has issued in-principle approval to ten applicants only, to open Small Finance Bank.

Here are some important points related to this:

• The licensing window will be open on-tap;

• minimum paid-up voting equity capital / net worth requirement shall be ₹ 200 crore.

• for Primary (Urban) Co-operative Banks (UCBs), desirous of voluntarily transiting into Small Finance Banks (SFBs) initial requirement of net worth shall be at ₹ 100 crore, which will have to be increased to ₹ 200 crore within five years from the date of commencement of business.

• SFBs will be given scheduled bank status immediately upon commencement of operations

• Payments Banks can apply for conversion into SFB after five years of operations.

‘Friends’ actor Ron Leibman passes away at 82

• Ron Leibman, who played the father of Jennifer Aniston’s character in ‘Friends’, passed away due to pneumonia at the age of 82.

• Apart from ‘Friends’, Ron is also known for his roles in films like ‘Slaughterhouse-Five’, ‘Where’s Poppa?’ and the 1979 film ‘Norma Rae’.

• The actor also won an Emmy award in 1979 for TV series ‘Kaz’.

4th India Water Impact Summit 2019 held in Delhi

• The 4th India Water Impact Summit 2019 was held in New Delhi from December 5 to 7, 2019. Jal Shakti Minister Gajendra Singh Shekhawat inaugurated the summit.

• It was organised by Ministry of Jal Shakti and the Centre for Ganga River Basin Management and Studies (cGanga) and was led by IIT-Kanpur.

• Theme of the event was: ‘Valuing Water – Transforming Ganga’.

• Objective of the summit: bringing together global financial investors and institutions to focus on water impact in smart cities.

Indian Junior Women’s Hockey team win 3-Nations Tournament in Australia

• The Indian junior women’s team has won the 3-Nations Tournament held in Australia from 3-8 December 2019.

• India secured 7 points to be placed at top position in the points table.

• Hosts Australia stood second while New Zealand finished third.

Jairam Sridharan steps down as Axis Bank CFO

• Jairam Sridharan, Group Executive and Chief Financial Officer and Key Managerial Personnel of Axis Bank, has stepped down from his post . He informed that he would like to pursue other career opportunities and as such has resigned from his services, Axis Bank said in a filing on Bombay Stock Exchange.

• Sridharan will continue to serve as the Group Executive and Chief Financial Officer of the bank under his notice period of three months, Axis Bank further stated in its statement.

• He joined Axis Bank in 2010 and was elevated to the group CFO’s position in 2015.

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