1. Rs 2.6 TRILLION OF BANK CREDIT MAY TURN BAD IN NEXT 12-18 MONTHS:

2. RBI EASES NORMS TO SET UP BANK BRANCHES: The Reserve Bank of India has eased the norms of setting up bank branches. Any bank outlets manned by either their staff or its business correspondents where services are provided for a minimum of 4 hours per day for at least 5 days a week will be called a bank outlet. And any branch opened in any tier III, tier IV centre of North-Eastern States, Sikkim and Left wing Extremism ( LWE) affected districts, then it will be considered as equivalent to opening a branch in unbanked rural centre( URC).

3. NBFCs’ CASH IN ON INDIAN BANKS’ BAD LOAN PAIN: With Indian Banks struggling with bad loans for the past two years, Non-Banking Financial Companies (NBFCs) have started lending rigorously as they are not as strictly regulated as banks. With this their share of total lending is rising year on year. With the stressed loans scenario, Indian Banks have become extremely cautiousin extending new credit. The process of approving loans has become lengthier and requires lots of paperwork. NBFCs’ SME loans though a bit costlier than those offered by banks, are processed more quickly and require less paperwork. The share of NBFC in overall loans will rise by 3% to nearly 18% over the next two years.

4. INDIA NOW WORLD’S MOST EXPENSIVE STOCK MARKET: With the markets soaring to record highs, India now is the world’s most expensive market. At a lifetime high of 30,658.77, the benchmark Sensex trades at a price-earnings multiple of nearly 18 times estimated one year forward earnings. India’s market capitalization hit $2 trillion for the first time ever.

5. SBI TO ALLOW ATM WITHDRAWALS VIA e-WALLET: State Bank of India will introduce new facility that would enable withdrawal of cash through ATMs using the bank’s mobile wallet. However, the bank will charge Rs 25 for each cash withdrawal from mobile wallet via ATM.

6. BANKING SCENARIO HANGING RAPIDLY, THEY SHOULD HAVE “CFOs,” AND “CTOs”: With rapid changes in banking sector, the RBI has urged banks to appoint qualified chiefs to head critical finance and technology functions. The RBI has urged the banks to appoint Chief Financial Officers ( CFOs) and Chief Technology Officers ( CTOs) and has come out with  minimum qualifications for these posts. It said a CTO should be an engineering graduate or hold Masters in Computer Applications, and the CFO should be a chartered accountant with an experience of 15 years in both the cases. It says a CFO and CTO in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk governance framework.

7. LIC BOOKS 72% PROFIT AT Rs.19,000CRORES IN FY’17:Life Insurance Corporation of India has booked a whopping 72% more profit at Rs 19,000 crores in FY’17. LIC’s market share in terms of number of policies stood at 76.09%, nearly 2% increase compared to last year. It has increased its market share to 71.07% from 70.61%.