Banking Awareness and Financial affairs updates for April 12th , 2017 – for IBPS, SBI, SSC Exams

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Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

 ‘SAMPADA’ scheme for food processing

Scheme for Agro-Marine Produce Processing and Development of Agro-Processing Clusters


The government will soon launch an umbrella programme ‘SAMPADA’ for food processing sector with Rs. 6,000 crore outlay to integrate current and new schemes aimed at reducing food wastage and doubling farmers’ income.

Food Processing Minister Harsimrat Kaur Badal said her ministry would soon approach the Cabinet for the approval of ‘Scheme for Agro-Marine Produce Processing and Development of Agro-Processing Clusters (SAMPADA).’


Manappuram Finance to launch co-branded prepaid card with YES Bank

Manappuram YES Bank Prepaid Money Card

The Kerala-based NBFC Manappuram Finance will launch its own co-branded prepaid card in tie-up with YES Bank.

The ‘Manappuram YES Bank Prepaid Money Card’ can be pre-loaded up to a maximum amount of Rs. 50,000 and then be used to withdraw money from all ATMs.

As the card works on the popular MasterCard and RuPay networks, it can also be used for online transactions and at merchant establishments with PoS terminals.


Government to release jobs data every quarter

Will be available from 2017-18

Statistics Minister DV Sadananda Gowda said that The Centre will undertake periodic labour surveys so as to arrive at quarterly employment data.


5,400 cr of undisclosed income detected post-demonetisation

Arun Jaitley

Finance Minister

Finance Minister Arun Jaitley said that The Income Tax department carried out over 1100 searches and surveys immediately after demonetisation and detected undisclosed income of over Rs. 5,400 crore.

Seizure in cash in new currency was about Rs. 110 crore. The undisclosed income detected in these actions was more than Rs. 5,400 crore.


Power Ministry launches portal for notifying electricity outage

Power Ministry launches Urja portal  for notifying electricity outage

Power Ministry launched Online portal for notifying electricity outages to rural consumers. The mobile app will collate information from feeder level power distribution units and notify registered consumers through SMS messages and through ‘push notifications’.

This will help in better monitoring of rural electrification.


BHEL bags order from Railways for solar power plant

BHEL and the Indian Railways to work on Solar Power systems in Patiala

BHEL has bagged an order from Indian Railways for installing 2 MW rooftop solar photovoltaic systems at Diesel Locomotive Modernisation Works (DMW) in Patiala.

It envisages design, supply, installation, testing and commissioning of a grid connected rooftop solar photovoltaic power plant with all electrical and associated equipment, including civil works.

It also includes operations and maintenance for five years.


State Bank looking to scale up merchant acquiring business

Seeking to double PoS terminals to 10 lakh

State Bank of India is planning to form a joint venture company to ramp up its merchant acquiring business.

India’s largest bank is seeing a huge opportunity in merchant acquiring business (MAB) in the wake of the government’s push for digital and card payments to build a ‘less cash’ economy following demonetisation.


Malala receives highest UN honour to promote girls education

The Noble Laureate is the the youngest-ever ‘Messenger of Peace’.

Malala Yousafzai attends a ceremony with United Nations Secretary General Antonio Guterres after being selected as United Nations messenger of peace in New York.

United Nations Secretary General Antonio Guterres appointed Nobel laureate Malala Yousafzai a UN Messenger of Peace on Monday to promote girls education.


CBDT introduces digitally signed E-PAN card for applicants

Will be issued in 1 business day

In a collaborative initiative by Central Board Direct Taxes and Ministry of Company Affairs MCA, Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) will be issued in one day to business entities.

The initiative will reduce the time taken for allotment as well as number of processes for registration and contribute towards Ease of doing business in India.



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