November 1

6th Tranche Of Electoral Bonds Sale Kicked Off announced by the finance ministry.

Electoral bonds are being pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. 
State Bank of India (SBI), in the sixth phase of sale, has been authorised to issue and encash electoral bonds through its 29 authorised branches.

 RBI Clears Re-Appointment of AdityaPuri as HDFC Bank CEO 

HDFC Bank had announced that the RBI had approved the re-appointment of AdityaPuri as MD and CEO of the bank for another two years.
Puri has been with HDFC Bank since 1994, making him the longest-serving head of any private bank in the country. 

November 2

Fitch ratings affirmed IDBI Bank’s long-term issuer default rating (IDR) at ‘BB+’ and its viability rating (VR) at ‘ccc’.

The government is diluting its 79 per cent stake in IDBI Bank to below 51 per cent, while LIC plans to raise its shareholding in IDBI Bank to 51 per cent from 14.9 per cent.
 Headquarters: New York City, US.
 CEO: Paul Taylor.
IDBI Bank:
 Headquarters: Mumbai.
 Founded: 1964.
 MD & CEO: Mr. Rakesh Sharma.

November 3

Kirloskar group gets RBI nod for NBFC biz; to invest Rs. 1,000 crore.
It has received licence from the Reserve Bank to launch a non-banking finance company (NBFC), Kirloskar Capital, which will be headed by industry veteran VimalBhandari.
It will invest Rs 1,000 crore in the proposed NBFC, which will be a fully-owned subsidiary of Kirloskar Oil Engines, and will focus on providing growth capital to industry with an initial focus on small and medium enterprises (SMEs).

November 4

The Securities & Exchange Board of India (SEBI) cut listing time for an IPO to 3 days from 6 at present.

The Securities and Exchange Board of India (SEBI) has initiated the process to reduce the timeline for public issues from the current six days to three days in a phased manner by making it mandatory for intermediaries to provide retail investors the option of bidding through the Unified Payments Interface (UPI).
In the first phase starting January 1, 2019 market intermediaries have been directed to make available the UPI mechanism for retail investors along with the existing framework and processes to complete the initial public offer (IPO) process in T+6 days.
Securities and Exchange Board of India (SEBI):
Chairman: Ajay Tyagi.
Headquarters: Mumbai.

November 5

RBI allowed banks to support bonds sold by non-banking finance/housing companies.
 This shall be done by maintaining the exposure limit of the bank within the aggregate PCE exposure limit of 20 percent.
The bonds by the NBFCs shall have maturities not less than 3 years.
Founded: 1st April 1935.
 Headquarters: Mumbai.
24th Governor: Dr. Urjit Patel.

November 6

ICICI Bank announced partnership with ‘Amazon Pay’ to launch a co-branded credit card, ‘Amazon Pay ICICI Bank Credit Card’.
This co-branded card is available on Visa platform.
 Headquarters: Mumbai.
 MD & CEO: Mr. SandeepBakshi.
 Chairman: Mr. Girish Chandra Chaturvedi.
 Tagline: Hum Hain Na!

November 7

Reserve Bank initiated steps to set up a wide-based digital Public Credit Registry (PCR). To capture details of all borrowers, wilful defaulters and also the pending legal suits.
This will enable the banks and financial institutions to get 360 degree profile of existing and prospective borrowers on a real-time basis.
 Founded: 1st April 1935.
 Headquarters: Mumbai.
 24th Governor: Dr. Urjit Patel.

November 8

The Central and Andhra Pradesh governments and the World Bank have signed the loan agreement for $172.20 million.
To enhance agricultural productivity, profitability, and climate resilience of poor and marginalised farmers in Andhra Pradesh.

The agreement for the project was signed by:

Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance,
PS Raghavaiah, State Project Director, APIIATP on behalf of the Government of Andhra Pradeshand
Junaid Ahmad, Country Director, World Bank India.

Andhra Pradesh:
Chief Minister: N. Chandrababu Naidu.
Governor: E.S.L. Narasimhan.
Capital: Amravati.
Parks: Sri Venkateswara National Park, Rajiv Gandhi National Park, Papikonda National Park.

World Bank:
Membership: 189 countries.
Headquarters: Washington D.C., USA.
Secretary-General: Jim Yong Kim.
CEO: KristalinaGeorgieva.

November 9

RBI relaxes ECB norms for infra companies
Reserve Bank of India (RBI) has liberalised norms governing external commercial borrowings (ECBs)for infrastructure creation.The provisions have been reviewed and decision has been taken in consultation with Central Government.
RBI has reduced minimum average maturity required for the ECBs in the infrastructure space raised by eligible borrowers to3 years from earlier 5 years.
Additionally, it also has reduced average maturity requirement for mandatory hedging to 5 years from earlier10 years.
The move comes amid concerns surrounding availability of funds following liquidity squeeze and the difficulties being faced by non-bank lenders, especially those facing asset liability issues due to heavy reliance on short-term funding for long-term assets.
Reserve Bank of India plans payments ombudsman
The Reserve Bank of India is likely to establish an ombudsman for digital payments by March to take the load off the increasing number of complaints currently being handled by the banking ombudsman.
Given the rapid adoption of digital payments across the country, RBI in its Annual Report for 2017-18 had said it was considering a plan to establish a separate ombudsman to handle consumer complaints related to digital transactions. The central bank is presently in the process of creating a scheme for establishing offices across the country for the digital payments ombudsman.
Paytm ties up with 2 government departments in Karnataka
Paytm, one of the largest digital payments company has tied up with two government departments for seamless payment experience.
One97 Communications Limited, which owns Paytm, in a press release that it has partnered with theDirectorate of Electronic Delivery of Citizen Services (EDCS) and DPAR (Department of Personnel and Administrative Service) to facilitate seamless payment experience.

November 10

Centre to infuse Rs 3,054 crore into Allahabad Bank as investment
The Centre will infuse Rs 3054 crore as capital into state-run Allahabad Bank.
According to a notification to the National Stock Exchange, the bank says that it has received a communication from Finance Ministry regarding a fresh capital infusion of Rs 3054 crore.
The infusion will be made through the preferential allotment of equity shares (Special Securities/ Bonds) of the Bank during the financial year 2018-19.

November 11

Enforcement Directorate (ED) flagged the RBI about the activities of a Karnataka-based firm charging it with running a ponzi scheme “in the name of Islamic banking or halal investment”.
The name of the firm is Ms Ambidant Marketing Private Limited, which is run by one S Fareed Ahmed and S Afaq Ahmed.
Islamic banking or halal investment is illegal in India.
Halal Investments are financial products which are deemed adherent to Shariah. Interest is strictly forbidden in Islam. This refers to investing funds or doing transactions that are compliant with the Islamic Sharia law.

Reserve Bank of India cancelled the certificate of registrations of as many as 31 non-banking finance companies (NBFCs) for unspecified reasons.
A majority 27 of the 31 companies which lost their licences and a majority of voluntary application for licence cancellation are also from Bengal.
Bengal is followed by Uttar Pradesh, which has seen four NBFC licence cancellations.
There are more than 12,000 registered NBFCs in the country under the regulation of the RBI.