* Axis Bank will make work-from-home (WFH) an integral part of its work culture.

* As part of its post-lockdown strategy, the bank has decided that its employees will continue to work from home for 2 -3 days in a week.

* The private sector lender is also looking to open offices in three phases once the lockdown is lifted on 17 May.

* In the first phase, only 10% of their employees will be allowed to work from large offices.

* From 1 June to 15 July, 30% will work from large offices and, subsequently, 60% will be in the office.

• The Small Industries Development Bank of India (SIDBI) will launch ‘India SME Services Platform’, a digital platform to educate stakeholders in the small and medium enterprises (SME) ecosystem and have information on coronavirus-related initiatives for the sector.

• The platform will provide Micro, Small and Medium Enterprises (MSMEs) information about starting operations, getting finance, credit enhancement and other support services.

• The platform will bring together all MSMEs, MSME ecosystem stakeholders, financiers, corporates, government, regulators, employees and associations in an interactive platform, where all will be at one place & one place for all kinds of initiatives.

• The Reserve Bank of India (RBI) has cancelled Mapusa Urban Co-operative Bank Ltd’s (MUCB) banking licence, paving the way for its liquidation since multiple attempts at the merger route have failed.

• The central bank has issued an order, barring the bank to carry on banking business, with effect from the close of business on April 16, 2020.

• Hence, the Urban Co-operative Bank has been refrained from running the business of ‘banking’ which comprises of acceptance of deposits as well as repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.

• State Bank of India will waive service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs

• The decision will also be implemented on the other bank ATMs on account of exceeding the free number of transactions up to 30th June 2020.

• Therefore, any customer having a debit card from a State Bank of India will be allowed to withdraw cash from any other bank’s ATM without incurring any additional charges till 30th June, 2020.

● Tata Steel Ltd has withdrawn its membership from the Indian Steel Association (ISA), an apex steel industry body.

● Subsequent to it, the company's CEO and Managing Director (MD) T V Narendran has also stepped down from the Presidentship of the Association, tenure of which was scheduled to end in August.

● An ISA President is elected for a period of two years.

● Recently, the Reserve Bank of India (RBI) has cancelled the licence of Mumbai-based CKP Co-operative Bank.

● RBI has cancelled the licence of the bank as the financial position of the bank was highly adverse and unsustainable.

● The bank is not in a position to pay its present and future depositors.

● The bank failed to meet the regulatory requirement of maintaining a minimum capital adequacy ratio of 9% and reserves.

● RBI has asked the Registrar of Co-operative Societies, Maharashtra to start the process of winding up operations of CKP Co-operative bank and appoint a liquidator.

● On liquidation, every depositor of the bank is entitled to get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation.

● Ameyo, a customer engagement technology provider, has announced the launch of video-based KYC for businesses to eliminate the need for physical KYC following the latest RBI guidelines issued in Jan 2020.

● The company claims that the platform will enable enterprises to reduce video KYC completion drop-offs by 20% and reduce the cost of operations by up to 90%.

● Ameyo's video KYC is an end-to-end solution with omnichannel capabilities of scheduling and reminding customers to complete the KYC process.

● HDFC Bank has released a song titled #HumHaarNahiMaanenge to keep hopes up amidst the ongoing national lockdown and Covid-19 pandemic.

● The lyrics of the song has been penned by Prasoon Joshi and music has been composed by AR Rahman.

● HDFC Bank has announced that it will contribute Rs 500 each time the song is shared via social media towards the PM-CARES Fund.

● The World Bank‘s Board of Executive Directors has approved a USD 400 million multi-year financial support to help India enhance its coastal & marine resources, protect marine resources & coastal populations from pollution, erosion, sea-level rise, and improve livelihood opportunities for coastal communities over the next decade.

● It will help protect coastal resources by focusing on the rehabilitation of coastal beaches and mangroves

● The 1st phase covers 8 coastal States and 3 coastal Union Territories, with USD 180 million in funding, for Enhancing Coastal and Ocean Resource Efficiency (ENCORE).

● The loan from the international bank for Reconstruction and Development(IBRD) has a final maturity of 14.5 years including a grace period of 5 years.

* Karnataka Vikas Grameena Bank (KVGB) has launched ‘Vikas Abhaya’ a loan scheme to provide some relief to Micro, Small and Medium Enterprise(MSME) borrowers.

* This scheme is for those borrowers whose business activities are disrupted on account of the COVID-19 pandemic in Dharwad, Karnataka.

* The loan will be for the existing MSME customers who have been regular as on February 29, a maximum loan of up to Rs 1 lakh will be provided and no collateral security is emphasized & is repayable within 36 months.

* It is an additional credit facility to the eligible existing MSME borrowers & helps them to assist over the current crisis and ensures the continuation of viable business activity.