The RBI said today the fair value of

the share-linked incentives paid to

chief executive officers, whole-time
directors and other key
functionaries by the private banks
should be recognised as an expense
during the relevant accounting
period. The RBI has also asked all
banks, including local area banks,
small finance banks and foreign
banks to comply with its directions
for all share-linked instruments
granted after the accounting period
ending March 31, 2021. The central
bank had issued guidelines on the
compensation of whole-time
directors/ chief executive officers/
material risk takers and control
function staff in November 2019.
-Economic Times

The RBI today said it has received

applications from two entities --
Cosmea Financial Holdings Pvt Ltd
and Tally Solutions Pvt Ltd – to set
up small finance banks. These
companies have applied under RBI’s
on-tap licensing norms published in
December 2019.
-Livemint
Canara Bank in a regulatory filing
said that the Central Government
has extended the term of office of A
Manimekhalai, Executive Director,
for a period of two years beyond
her currently notified terms that
expires on 10 February 2022, or
until further orders, whichever is
earlier.
-Business Standard

Bank of India today said the

Government has extended the term
of its executive director P R
Rajagopal by 2 years. His current
term was to expire on February 28,
2022.
-Business Line

Bank of Baroda today said Shanti

Lal Jain would cease to be its
executive director from September
due to his appointment as the MD
& CEO of Indian Bank. Jain's
cessation as the executive director
of Bank of Baroda will be effective
from September 1, 2021, the bank
said in a regulatory filing.
-Business Standard
Axis Bank today said it has started
issuing debt securities under its
₹35,000 crore-debt raise plan
announced earlier this year. In
April, the Bank had said that its
board had approved capital raise
proposal up to ₹35,000 crore by
issuing various debt instruments in
Indian or foreign currency in
domestic/overseas markets in one
or more tranches.
-Business Line

The Hongkong and Shanghai

Banking Corporation (HSBC) today
said it has appointed former SBI
chairman Rajnish Kumar as an
independent director and a
member of Audit Committee and
Risk Committee of the Asian entity.
The Indian operation is a branch of
this Asian entity. HSBC is also listed
in the UK as a separate entity called
HSBC Plc.Rajnish Kumar retired in
October 2020 after a 40-year career
at the SBI. His international tenure
included stints at SBI's UK and
Canada operations.
-Business Standard
Moody's has assigned B1(hyb)
rating to Axis Bank Ltd GIFT City
branch's proposed USD-
denominated, undated,
non-cumulative and subordinated
additional tier 1 (AT1) capital
securities being issued out of its
global medium term note (GMTN)
programme. Moody's has also
assigned (P)B1 Pref. Stock
Non-cumulative programme rating
to the AT1 capital securities
-Business Standard

Digital payments platform PhonePe

today said it has received
in-principle approval from IRDAI to
be a broker to sell life and general
insurance products. With this,
PhonePe said it can now offer
insurance advice to its over 30 crore
users (300 million). PhonePe has
been issued an insurance broking
licence from the IRDAI, it said in a
release.
-Economic Times

With technical glitches in the new

Income Tax portal remaining
unresolved, the CBDT has extended
the due date for the filing of certain
electronic forms including one
relating to Equalization Levy
statement, and the form for
declaration received from senior
citizen account holder among
others. These forms are to be filed
electronically. Banks will have till
November 30 to upload
declarations received from
recipients in Form No.15G/15H
during the quarter ended June 30.
Earlier the date was extended to
August 31.
-Business Line
Driven by bullish sentiment in
equities, the market capitalisation
of BSE-listed companies jumped to
an all-time high of Rs
2,47,30,108.97 crore today.
Extending its winning momentum
for the third session, the 30-share
BSE benchmark Sensex ended
765.04 points or 1.36% higher at
56,889.76, its new closing peak.
During the day, it jumped 833.55
points to its lifetime high of
56,958.27. In 3 days, the benchmark
has gained 945.55 points.
-Business Standard
USD / INR 73.27
Sensex 56889.76 (+765.04)
BSE Bankex 41313.10 (+834.24)
Nifty 50 16931.05(+225.85)
Nifty Bank 36347.6 (+719.85)

-30-08-2021

(Compiled by Canara Bank Officers'

Union-Team Kerala- affiliated to All
India Bank Officers' Association)