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RBI’s Rs 500-crore fund to promote digital payments in small towns The Reserve Bank of India (RBI) on Friday said it was setting up a Payment Infrastructure Development Fund (PIDF) with a corpus of Rs 500 crore, with an aim to give a push to digital payments nationwide. Read more at https://www.business-standard.com/article/finance/rbi-sets-up-rs-500-crore-fund-to-boost-digital-payments-infrastructure-120060600018_1.html

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Kotak Mahindra Bank plans to raise as much as Rs 7,500 crore by way of issue of 6.5 crore equity shares of Rs 5 each through a private placement, follow-on public offering (FPO), qualified institutions placement (QIP) or a combination thereof https://www.businesstoday.in/current/corporate/kotak-mahindra-bank-gets-shareholder-nod-to-issue-65-crore-equity-shares/story/404896.html

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“We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between March 2020 and May 2020,” the lender said in a statement. Read more at: https://economictimes.indiatimes.com/industry/banking/finance/banking/bank-of-maharashtra-sanctions-rs-2789-crore-loans-over-3-months-to-msmes-others/articleshow/75943308.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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The bank has since sanctioned nearly six lakh loans amounting to Rs 4300 crore under agriculture, SHGs and retail categories. The bank said it has also sanctioned more than Rs 60,000 crore of advances to corporates and MSMEs from March 2020 till date. Read more at: https://economictimes.indiatimes.com/industry/banking/finance/banking/canara-bank-announces-credit-support-for-borrowers-affected-by-covid-19/articleshow/75913410.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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Bank deposits have risen by over Rs 2.8 lakh crore in three fortnights of the lockdown till May 8, while bank credit during the period dipped by Rs 1.2 lakh crore, according to data released by the Reserve Bank of India. Read more at: https://economictimes.indiatimes.com/industry/banking/finance/banking/deposits-rise-over-rs-2-8-lakh-crore-in-six-weeks-of-lockdown/articleshow/75884568.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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RBI Governor Shaktikanta Das Press Conference | Highlights: Reserve Bank of India has extended the moratorium on loan repayments by another three months to 31 August 2020, while it also cut policy repo rate by 40 basis points to 4.0% after an unscheduled meeting of the Monetary Policy Committee. https://www.financialexpress.com/economy/rbi-governor-shaktikanta-das-press-conference-live-updates-reverse-repo-rate-crr-t-ltro-liquidity-monetary-easing/1967031/

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