Banking Affairs 01st March 2017 | Financial Awareness 01st March 2017

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Israeli forces begin evacuating 9 settler homes in West Bank

  • Israeli forces began evacuating nine homes in the West Bank settlement of Of on 28 Feb 2017, But , The  Supreme Court decision that ruled they were built on private Palestinian land.
  • Dozens of settlers and their supporters were protesting on the rooftops as military and police forces handed the evacuation orders to settler leaders and asked them to cooperate.

MyTaxiIndia raises funds from Dubai-based investor

  • Inter-city cab rental platform MyTaxiIndia has raised an undisclosed amount from ZGC Global, a Dubai-based investor to expand its operations.
  • MyTaxiIndia, which claims to be present in 200 cities, is looking at rolling out its offerings in the North-East as well as tier I and II cities in states like Bihar, Uttar Pradesh, Madhya Pradesh and Chhattisgarh.

Pests eat away India’s 35% of yield

  • According to Indian Council of Agricultural Research scientist, pests eat away about 30-35% of the annual crop yield in India.
  • Such large-scale crop-loss is having an adverse effect on the agricultural biosafety which is paramount to food security of the country.
  • Key Facts Among such pests, nematodes have emerged as a major threat to crops in the country.

Lakshmi Vilas Bank Signs MoU with Centrum for its HNI Clients

  • The agreement was signed between Parthasarathi Mukherjee, managing director & CEO from Lakshmi Vilas Bank   and Jaspal Bindra, executive chairman from Centrum Group on February 27, 2017.
  • The  bank will refer its High Net Worth Individuals to Centrum for wealth management and family office services.
  • This is the first time in the country that a private bank has given the charge to an independent professional wealth management firm for such services.

Canara, HSBC and OBC Banks launched iSelect Term Plan

  • Canara, HSBC and Oriental Bank of Commerce Life Insurance launched iSelect term plan to expand its online product suit
  • iSelect term plan provides enhanced protection cover for the family at an affordable premium.
  • It will cover insured person’s spouse as well as family’s future income with an option to automatically increase insurance coverage as per changing life stage needs

RBI deputy targets banks’ toxic loans

  • Economist Viral Acharya spent nearly two decades studying banking crises around the world.
  • Now, as a deputy governor at India’s central bank, Viral Acharya  is turning his attention to one that may be developing at home.
  • At issue is what to do with USD 133 billion in stressed assets accumulated by banks after years of reckless lending, a problem that has bedevilled regulators and stalled loans that India needs to revive private investment.

Odisha Govt gives approval for investment of Rs 26,000 crore

  • Odisha government has accorded in-principle approval for investment of Rs 26,000 crore which will provide employment opportunities to 17,500 people.
  • While the State Level Single Window Clearance Committee headed by Chief Secretary A P Padhi 1 March 2017 accorded approval for 14 different projects worth investment of Rs 25,474 crore, the same committee on January 31 had given its nod for investment of another 697 crore.


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