The RBI cut its repo rate by 25 basis points to __________ in its first bi-monthly policy review of 2019-20.

State Bank of India (SBI) announced it had raised Rs.1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising, at its meeting on 22 March 2019, deliberated and accorded approval to allot 12,513 non-convertible, taxable, perpetual, subordinated, unsecured Basel III-compliant additional tier-I bonds, for inclusion in additional tier-I capital of the bank aggregating to Rs.1,251.30 crore. The bonds with a face value of Rs.10 lakh each bears a coupon rate of 9.45% per annum payable annually with a call option after 5 years or any anniversary date thereafter. The bonds were subscribed on 22nd March.

The Kotak Mahindra Bank (KMB) has become the first Destination Bank to go live with Net Banking and Debit Card-based authentication solution on NPCI's e-Mandate API platform. The facility will enable its customers to create electronic mandates (similar to the erstwhile eNACH with Aadhaar + OTP) via both the Debit Card and Net Banking channels. This allows Kotak to go live as a sponsor or acquirer bank for corporates and merchants seeking recurring payments. In a first-of-its-kind initiative in the industry, customers can register both physical and e-mandates on a single platform with validation on the mandate fields to remove rejections on account of various reasons.

Punjab National Bank (PNB) appointed Rajesh Kumar Yaduvanshi as the Executive Director of the bank. Rajesh Kumar Yaduvanshi joined PNB as a management trainee in 1985. He is equipped with an experience of 34 years in the banking career and is a certified associate member of Indian Institute of Bankers. In the past, he had worked with Dena Bank in the capacity of the Executive Director. He holds a doctorate in science from Indian Agricultural Research Institute, (IARI) New Delhi.

A unique proposition to pay electricity bill on EMIs launched by Bajaj Finserv through its lending arm Bajaj Finance Ltd. through the campaign of #BijliOnEMI. Customers can avail an Insta Credit loan in their Bajaj Finserv Wallet to pay their electricity bills on EMI. Bajaj Finance Ltd. financed the purchase of over 12 lakh air conditioners across our country in the year 2018. Bajaj Finance Ltd launched this campaign and customers buying air conditioners of Rs 20,000 and above will be eligible for Rs 5000 Instant Credit loan and for the air conditioners above Rs 40,000 will receive Rs 7000 Instant Credit loan to their Wallet.

Private lender HDFC Bank said it is planning to raise up to Rs.50,000 crore this fiscal by issuing bonds on private placement basis. It will raise funds by issuing perpetual debt instruments [part of additional tier I capital], tier II capital bonds and long-term bonds [financing of infrastructure and affordable housing] up to a total amount of Rs.50,000 crore in the period of next 12 months through private placement mode. The bank would consider the proposal on April 20.

State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age and differently-abled customers. Eligible customers can avail this service at a nominal fee of 100 rupees per transaction for financial transactions and 60 rupees for non-financial transactions. Doorstep banking services are available to KYC- compliant account holders, with a valid mobile number registered with the bank and residing within 5 kilometers radius from their home branch. This service will not be available for accounts operated jointly, minor accounts, and accounts of non-personal nature.

Two international financial institutions the World Bank and the International Monetary Fund (IMF) have launched a private blockchain and quasi-crypto currency called as "Learning Coin" for better understanding of blockchain technology and the function of crypto assets. The asset will only be available for use within the IMF and the World Bank. It has no monetary value, means it is not a true cryptocurrency. After the testing period, the IMF and the World Bank may use blockchain technology to create smart contracts, fight money laundering, and improve transparency.

Canara Bank and its life insurance partner Canara HSBC Oriental Bank of Commerce Life Insurance launched 'Webassurance' to enable its customers to purchase life insurance in a convenient and hassle-free way. Total Four life insurance products of Canara HSBC OBC Life would be made available to its customers with various facilities like key needs of child future, savings, and investments, retirement planning and protection. This Life Insurance is jointly owned by Canara Bank (51 percent) and Oriental Bank of Commerce (23 percent) and HSBC Insurance Holdings (26 percent), the Asian insurance arm of HSBC.

State-owned Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.com portal as part of its effort to promote such industries. Under the Mudra Yojana, the bank has offered loan to over 2.69 lakh small entrepreneurs this fiscal (till February 14, 2019).

Mangaluru based Karnataka Bank Limited appointed Balachandra Y V as Chief Operation Officer (COO) and Gokuldas Pai as Chief Business Officer (CBO). Earlier, both are General Managers of Karnataka Bank who were promoted as COO and CBO of the bank. The previous COO of Karnataka Bank was Raghavendra Bhat M.