Banking Affairs 28th February 2017 | Financial Awareness 28th February 2017

1.Mumbai richest city with $820 billion

  • Mumbai is the richest Indian city with a total wealth of $820 billion.
  • Delhi is home to 23,000 millionaires and 18 billionaires with total wealth of $450 billion, while Bengaluru has 7,700 millionaires and 8 billionaires and an aggregate wealth of $320 billion.
  • The total wealth held in India in 2016 was $6.2 trillion, while the country is home to 264,000 millionaires and 95 billionaires

2.Bank Workers are on Strike Today

All the Staff of banking and public sector banks including 10 lakh employees and officers will be on strike today in response to the call of United Forum of Bank Unions and be protesting against the decision to merge five associate banks with SBI. Public Banks will remain closed 28th Feb 2017.

 

3. Sidbi doubles fund of funds operations; sanctions Rs 300 cr

  • Sidbi has cleared sanction requests of nine funds aggregating Rs 300 crores in a recent meeting, showing a significant upsurge in the fund of funds operations focused on MSME and startups.
  • Sidbi as manager of these funds has constituted a Venture Capital Investment Committee (VCIC) which includes external experts Mohandas Pai, Sanjeev Bikchandani, Saurabh Srivastava, HK Mittal, Vaidyanathan, Kiran Karnik.

4. India’s door open while others look inward: Jaitley

  • India is one of the most “open economies in the world”, Finance Minister Arun Jaitley said here on 27th Feb 2017 as he contrasted India’s approach to reform to an increasingly inward-looking world.
  • “When the world is turning increasingly protectionist, India is opening up,” he told investors, politicians and business people gathered at a meeting hosted by the U.K. India Business Council and Federation of India Chamber of Commerce and Industry.

5. RBI not to share govt response on Sharia

  • The central bank has said the response given by the Fin Min on the RBI report about the introduction of Sharia banking in India cannot be disclosed,
  • The RBI was asked to give response sent to it by the ministry on the recommendation regarding Islamic banking.
  • Sharia banking is a finance system based on the principles of not charging interest, which is prohibited under Islam.

6. ‘India, a lab to learn about what works in development’

  • World Bank CEO Kristalina Georgieva said: India as a “laboratory”, for the world to learn about what works in development and to find new ways to collaborate.
  • Ms Georgieva, who is in India on her first official visit, said in a statement: “India is our biggest middle-income client.
  • Its economic growth influences global growth. Its achievements in health and education contribute to the world achieving the Sustainable Development Goals.”

7. SEBI to tighten also trading rules

  • The SEBI plans to further tighten the regulations for algorithmic trading to minimise instances of misuse of such systems that can be used to execute complex trading strategies at a very high speed.
  • SEBI chairman U.K. Sinha said that while India was one of the few countries in the world to regulate algorithmic trading popularly called also trading the market watchdog is looking to further strengthen the norms so that instances of flash crashes that have happened overseas, and also in India a few times, could be minimised.

You can also read today’s:

Current Affairs 28th February 2017 | General Awareness 28th February 2017

1. ONGC May Acquire Hindustan Petroleum

  • State-owned Oil and Natural Gas Corporation (ONGC) may acquire India’s third-biggest fuel retailer HPCL in an about Rs. 44,000 crore ($6.6 billion) deal.
  • The merger is seen as a part of the government’s plan to create an integrated oil giant.
  • There are only 6 major companies in the sector – ONGC, Oil India Ltd, Indian Oil Corp (IOC), HPCL, BPCL and GAIL.

2. RIL market cap crosses Rs4 trillion

  • India’s biggest company by revenue, Reliance Industries Ltd (RIL), on Monday crossed Rs 4 trillion in market capitalisation.
  • RIL is the second company after Tata Consultancy Services Ltd (TCS) to cross Rs4 trillion in market cap.
  • Currently, TCS has a total market cap of Rs 4.88 trillion.
  • Last time, the company was seen achieving this milestone on 18 January 2008.

3. Oscar Awards for 2016 announced

  • The Oscar for best actor goes to Casey Affleck for Manchester By The Sea.
  • The Best Original Song goes to City Of Stars, La La Land.
  • The Best Animated Feature Film Oscar goes to Zootopia.
  • Bollywood beauty Priyanka Chopra made her second Oscars appearance. She was a presenter last year.

4. India, China seek common ground on Afghanistan

  • Despite differences on a number of issues, including over the Nuclear Suppliers Group (NSG), U.N. designation of Masood Azhar as a terrorist, and the China-Pakistan Economic Corridor.
  • India and China have begun to look for a “common ground” on Afghanistan during Foreign Secretary S. Jaishankar’s visit to Beijing last week.
  • Officials reportedly even discussed the possibility of “joint development projects” that could be undertaken despite economic rivalries between the two countries in other parts of the subcontinent.

5. Spacecraft to fly near the Sun next year

  • NASA plans to send its first robotic spacecraft to the Sun next year. The spacecraft is slated to get within six million kilometres of the blazing star to probe its atmosphere.
  • Humans have sent spacecraft to the Moon, Mars and even distant interstellar space. Now, NASA plans to launch the Solar Probe Plus mission to the Sun which is about 149 million kilometres from the Earth.

6. World’s first robot table tennis tutor sets Guinness record

  • The world’s first robot table tennis tutor FORPHEUS in Japan has set a new Guinness World Record for its uncanny ability to be able to play the game better than most humans.
  • FORPHEUS (Future Omron Robotics Technology for Exploring Possibility of Harmonised Automation with Sinic Theoretics) has officially been given the Guinness title for its unique technological intelligence and educational capabilities.

7. Top focus to be laid on expanding network in Odisha: Railways

  • The Railways said the top focus will be laid on expanding rail network in Odisha, while priority will be to link unconnected areas of the state and improve connectivity to ports.
  • This was announced by Minister of State for Railways Rajen Gohain reviewed the performance and progress of ongoing Railway projects with General Manager, East Coast Railway, Umesh Singh and other officials during a visit here.

8. Govt to bring new hydro policy next fiscal: Power Secretary

  • The government will bring out a new policy for the hydropower sector next fiscal to boost this clean source of energy, a senior official said.
  • “We are working on a New Hydro Policy for quite sometimes. We will do bring it next fiscal,” Power Secretary P K Pujari told reporters at a TERI event here.
  • The new policy also seeks to bring large hydro projects at par with smaller ones in terms of availing various benefits.

9. Nokia Launched World’s First 5G Smartphone.

Mobile company Nokia come back with World’s First 5G Smartphone at MWC 2017. The company also launched an upgraded version of its popular handset Nokia 3310. After 17 years from his original launch.

SBI PO Syllabus 2017 with must read topics

SBI PO 2017 notification has already been released.

Today we are sharing the Exam Pattern and Syllabus of SBI PO 2017 Preliminary Exam with a deep analysed Difficulty levels and Its likeliness to appear in the Prelims examination.

The Prelims exam of SBI PO 2017 will start from 29th April this year.

You have more than 2 months to prepare for SBI PO 2017 Preliminary exam.

Many of you might be worrying about the two important things – “What will be the expected Syllabus? Which types of Questions can be asked in SBI PO Prelims Exam?

 

S. No. Name of Section No. of Questions Total Marks Exam Duration
1. English Language 30 30 1 hour
2. Quantitative Aptitude 35 35
3. Reasoning Ability 35 35
Total Questions & Marks 100 100

 

 

 

 

Banking Affairs 26 & 27th February 2017 | Financial Affairs 26 & 27th February 2017

1. India, ADB ink $375 mn loan pact for industrial corridor

 

  • India and ADB have signed USD 375 million pact for loans and grants to develop 800 km Visakhapatnam—Chennai Industrial Corridor, which is the first phase of a planned 2,500-km East Coast Economic Corridor.
  • ADB had approved USD 631 million in loans and grants for the industrial corridor, last September 2016. It approved loans comprising a USD 500 million multi-tranche facility to build key infrastructure in the four main centres along the corridor — Visakhapatnam, Kakinada, Amaravati, and Yerpedu—Srikalahasti in Andhra Pradesh.

2. Dena Bank rolls out RFID-enabled cards

  • Dena Bank has introduced RFID-enabled banking cards whereby a branch/relationship manager can identify a valued client entering a branch with the card.
  • Once the client enters the branch, complete information about him/her will pop up on the manager’s desktop.
  • This will help the branch staff to take care of the customer’s needs and offer services quickly without any delay, the bank said.

3. India fastest growing economy in G-20

  • India will be the fastest-growing economy among G-20 countries clocking a 7.1% growth in 2017, Moody’s Investors Service said.
  • The Indian economy had slowed in the fourth quarter of 2016 due to the withdrawal of 86%.
  • Regarding Asia, Moody’s said China’s economy stabilised around the official growth target of 6.7% in 2016, but will likely continue to decelerate to 6.3% & 6% in 2017 & 2018.

4. HSBC faces tax fraud probe in India, other countries

  • British bank HSBC said that it was being investigated by tax and law enforcement agencies around the world, including India, the US, France and Belgium, for alleged tax evasion, money laundering and unlawful cross-border banking solicitation.
  • The bank has set aside $773 million to deal with the financial impact of these investigations.

5. Railways mulls new performance index

  • The Indian Railways is mulling a new metric to measure its performance. This comes at a time when it is staring at a five-year high for the operating ratio by the end of this fiscal year.
  • The Railways formed a committee of executive directors from its budget, finance efficiency and research departments last week to look at some of the best corporate practices and suggest a new financial ratio.

6. India, Germany ratify social security agreement

  • India and Germany have ratified the Social Security Agreement (SSA), which will come into force from 1 May 17  this year, to help promote more investment flows between the two countries.
  • The SSA will also integrate the provisions of the 2008 social insurance pact that exempts detached workers of the two countries from making social security contributions in either country so long as they were making such contributions in their respective countries, the External Affairs Ministry said, adding the 2008 pack will then cease to be in force.

 

You can also read today’s:

Current Affairs 26 & 27th February 2017 | General Awareness 26 & 27th February 2017

1. India, Bangladesh ink MoU for development of Sylhet city

  • India and Bangladesh signed a Memorandum of Understanding (MoU) for the sustainable development of Sylhet city with financial aid from India. Indian High Commissioner Harsh Vardhan Shringla and Sylhet City Corporation CEO Enamul Habib signed the tripartite agreement in Sylhet, a metropolitan city in northeastern Bangladesh.
  • Under the MoU, three projects are considered i.e construction of a five-storeyed Kindergarten & High School Building, a six-storeyed Cleaner Colony Building and Development of Dhupia Dighipar area -will be implemented with Taka 24.28 crore.

2. Pooja Ghatkar clinches bronze

  • In International Shooting Sport Federation, Indian shooter Pooja Ghatkar secured India’s first medal in New Delhi.
  • She finished third in the 10m Air Rifle event. Ghatkar clinched bronze medal with a score of 228.8 in the final round.
  • China’s Mengyao Shi secured gold with a score of 252.1 – setting a new world record in the event.
  • The silver went to China’s Lijie Dong for a score of 248.9.

3. Rajasthan 2nd largest crude oil producer in country

  • Rajasthan has become the second largest crude oil producer in the country after the offshore field Bombay High.
  • Mr. Kalyan Singh, Governor of Rajasthan stated that oilfields in the state were producing nearly 90 lakh tones oil annually, which is 24% of the total domestic crude oil production.

4. AYUSH Minister to inaugurate the World Integrated Medicine Forum on Regulation of Homeopathic Medicine

  • The Minister of State (Independent Charge) for AYUSH, Shripad Yesso Naik inaugurated the World Integrated Medicine Forum on Regulation of Homeopathic Medicinal Products- National and Global strategies in New Delhi.
  • The two-day event that concluded was organised by Ministry of AYUSH and Central Council for Research in Homeopathy (CCRH).
  • iii. The first-of-its-kind forum is expected to increase the perception of the international world towards India as a key player in the progress of the homoeopathy drug industry.

5. Government ropes in Shilpa Shetty as Swachh Bharat brand ambassador

  • The government has roped in actress Shilpa Shetty as a brand ambassador for the Indian government’s cleanliness initiative Swachh Bharat Mission.
  • She will feature in TV and radio campaigns aimed at discouraging people from littering on roads.

 

6. International Hockey Federation awards

  • Belgium skipper John-John Dohmen and Netherlands’ Naomi van As were adjudged the international hockey federation male & female Player of the Year.
  • There were 2 Indians in the fray with Sreejesh among nominees for the best goalkeeper while 20-year-old Harmanpreet Singh, who was part of the junior World Cup-winning squad, a nominee of ‘Rising Star of the Year’ category.

7. Indian Railways unveils Antyodaya Exp.

  • Indian Railways has unveiled Antyodaya Express, a new train for the unreserved passengers. It was unveiled by Union Railway Minister Suresh Prabhu in New Delhi’s Safdarjung station.
  • The first Antyodaya Express is slated to start between Mumbai and Tatanagar (Jharkhand) and second between Ernakulam and Howrah.
  • The facilities provided in Antyodaya coaches are similar in first class coaches.

8. Oriental Bank Ties Up With Chola MS

  • Haryana-based Oriental Bank of Commerce has signed a corporate agency agreement with Chennai-based general insurance provider Cholamandalam General Insurance Company for distribution of insurance products.
  • The insurance products include motor, health, home and travel.
  • Chola MS will offer a wide range of non-life insurance products to customers of Oriental Bank through its branches.

You can also read today’s:

 

Banking Affairs 25th February 2017 | Financial Affairs 25th February 2017

1. IOB appoints T C A Ranganathan as Non-official Director

Indian Overseas Bank has informed about the change in Bank’s Board of Directors. Government of India, vide its Notification dated February 16, 2017, hereby appoints Shri T C A Ranganathan as part-time Non-official Director as well as Non-Executive Chairman of the bank.

 

2. Bharat Financial launches instant microloan facility

  • Microfinance institution Bharat Financial Inclusion Ltd today launched an initiative for instant loan approval and disbursed them to three women in a village near Bassi in Jaipur district.
  • The initiative is expected to help rural areas embrace cashless transactions.
  • The loans are cashless since they are deposited directly to the loanee’s bank account.
  • Three women were approved instant loans through the technology in Dev village near Bassi

3. Rs 5,637.56 crore for Narmada Yojana

  • Maharashtra, Rajasthan and Madhya Pradesh- three of the four partner States in Sardar Sarovar Narmada Yojana- owe total Rs 5,637.56 crore to Gujarat government for joint implementation of the scheme.
  • Gujarat govt. has initiated procedure to approach the Attorney General of India to resolve the dispute of payment of money for Resettlement & Rehabilitation of affected families.

4. Bill banning hookah bars

  • The Gujarat Assembly on Feb 23 passed an amendment bill which proposes a total ban on hookah bars and imposes max. jail term of 3 years on those operating such joints despite absolute restriction.
  • The Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Gujarat Amend Bill, 2017 was passed by majority.

5. Karnataka Bank bags two awards at IBA Banking Technology Awards

City based private sector bank – Karnataka Bank Ltd has bagged two IBA – banking technology awards 2017. The awards are, winner- best financial inclusion initiatives [small bank] category; and runner up – best use of digital and channels technology [small bank] category. IBA Banking Technology Awards is instituted to recognize and reward individuals, professionals and banks who have recorded noteworthy technology and business benefits in previous year.

6. Mobile Application for GST

  • Central Board of Excise and Customs (CBEC) launches a Mobile Application for GST to inform the taxpayers of the latest updates on GST among others.
  • The Mobile Application enables taxpayers to be well informed of the latest updates on GST.
  • Taxpayers can also provide feedback and contact CBEC’s 24×7 helpdesk “CBEC Mitra” through a toll-free number or email, at the touch of a button.

7. Visa signed MoU with AP to make Vizag, India’s first ‘less cash’ city

  • Global payments network Visa signed a memorandum of understanding (MoU) with the Andhra Pradesh government to help transform Vishakhapatnam into India’s first ‘less cash’ city.
  • This initiative is designed to provide the foundation for the city to emerge as India’s ‘Fintech Valley’.

Current Affairs 25th February 2017 | General Awareness 25th February 2017

1. 9th BRICS Summit

  • BRICS is the acronym  for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
  • China will host the first BRICS Sherpas Meeting in Nanjing in the country’s Jiangsu Province.
  • The 9th BRICS Summit will be held in China’s Xiamen city from September 3-5.
  • The theme of this year’s event is ‘BRICS  Stronger Partnership for a Brighter Future.

2. India to host Combined World Cup for shooting in 2019

  • India will be hosting the Combined World Cup for shooting in 2019, a qualifying event for the 2020 Tokyo Olympics, which will further boost the country’s profile as a global shooting destination.
  • The National Rifle Association of India’s (NRAI) bid was approved by the International Shooting Sport Federation’s Executive Board in its meeting held in New Delhi.

3. Swachh Bharat Abhiyan

 

  • Five more states– Gujarat, Haryana, Punjab, Mizoram and Uttrakhand– are likely to be declared defection free (ODF) in next 6 months.
  • As of now, three states, Kerala, Himachal Pradesh and Sikkim, had declared themselves ODF under the clean India mission Swachh Bharat Abhiyan.
  • The Swachh Bharat Abhiyan was officially launched on 2 October 2014 by Prime Minister Narendra Modi.

4. International conference on ‘Bharat Bodh

  • The President of India inaugurated an international conference on ‘Bharat Bodh’ (Idea of Bharat) organized by the IGNOU and Bhartiya Shikshan Mandal on Feb 23, 2017 in New Delhi.
  • He added that Bharat has always been recognised “as the storehouse of knowledge and discovery – knowledge which liberates, and discovery which fathoms the deepest thoughts of humanity and co-existence.

5. TCS emerges as third most valued IT brand

  • Ata Consultancy Services, today announced that it has broken into the list of the Top 3 most valuable brands in the IT Services industry, in an assessment done by Brand Finance, the world’s leading brand valuation firm.
  • “Just five years ago the TCS brand had achieved a major milestone, emerging as one of the big four brands in the IT Services sector.

6. Centre sets up fund for POSCO victims

  • Union Minister for Women and Child Development, Maneka Gandhi, has decided to set up a POCSO Victims Compensation Fund to provide financial help to minors who are victims of sexual abuse.
  • This fund will draw financial resources from the Nirbhaya Fund.
  • Gandhi made the announcement after she ordered financial assistance by way of a compensation of Rs 3 lakh for treatment of a 3 year old girl who was allegedly sexually assaulted and found abandoned at a railway station in Ahmednagar in Maharashtra.

7. SRM’s Next Tech Lab team wins Hackathon

  • A three-member team of Next Tech Lab, SRM University, won the IESA Hackathon-Vision Summit 2017, a note said.
  • The 30-hour hackathon that was organised by Intel at Bengaluru from February 21- 22. Swaroop Belur, Akash Jain and Suresh Kumar prototyped a Smart Industrial Failure Detection System and won Rs. 1 lakh.

8. Aerospace team to visit Australia

  • The Aerospace Industry Development Association of Tamil Nadu and the Society of Indian Aerospace Technologies and Industries will organise the visit of a 20-member Indian aerospace delegation to Australia during February 28 March
  • The delegation is scheduled to participate at Avalon 2017.

 

9. Sikkim becomes 22nd State to join UDAY

  • The GOI and the State of Sikkim signed an MOU under the Scheme Ujwal DISCOM Assurance Yojana (UDAY) for operational improvement of the State’s Power Distribution Department.
  • With the signing of MoU, the total number of States covered under UDAY has reached 22.
  • UDAY is the financial turnaround and revival package for electricity distribution companies of India initiated by the GOI.

Daily Vocabulary from THE HINDU – February 25, 2017

Hello Friends,

Based on the requests received from many users, we have introduced antonyms of the words that we are discussing. Let us know if this helps to you also.

Youtube Channel    The Hindu Editorial

In today’s episode we will be going to explore THE HINDU’s editorial “A significant victory” for words with rich vocabulary.

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[wpsm_video]https://www.youtube.com/watch?v=CJHRmrcQSOc[/wpsm_video]

Word 1

Mandate 

Class : Noun

Meaning : an official order or commission to do something

Synonyms : Ordinance, Instruction

Antonyms : Refusal, Request

Example Sentences:

Without this mandate, Postal Service operations ran an impressive $3.2 billion profit the past three years.

Subsequent trade agreements gradually increased environmental and labor mandates.

 

Word 2

Civic 

Class : Adjective

Meaning : relating to a city or town, especially its administration; municipal

Synonyms : City, Town

Antonyms : Uncivilized, Private

Example Sentences:

The lawsuit was filed by a coalition of parents, educators and civic groups.

Our over-burdened public schools are the arena for civic education.

 

Word 3

Squeak 

Class : Verb

Meaning : a short, high-pitched sound or cry

Synonyms : Peep, Noise

Antonyms : Calm, Be quiet

Example Sentences:

The wild dogs squeak, twitter, cackle, chatter and hoot, but they don’t bark.

The dancer’s shoes squeak on the floor as he spins, and sweat flies off his face.

 

Word 4

Affirmation 

Class : Noun

Meaning : the action or process of affirming something

Synonyms : Declaration, Promise

Antonyms : Denial, Nullification

Example Sentences:

The FBI director’s term is set at 10 years as an affirmation of the bureau’s political independence.

It’s a necessary affirmation that black lives, indeed, matter.

 

Word 5

Stake 

Class : Noun

Meaning : a financial involvement with something

Synonyms : Post, Pole

Antonyms : Whole, Safety

Example Sentences:

Delta owns a minority stake in the Mexican airline.

The government’s stake is now less than 5 percent.