Banking Awareness and Financial affairs updates for April 18th , 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.

1. PNB launches three new products

Auto-Toll, Credit card app, Solar Power financing


On the occasion of its 123rd Foundation Day, Punjab National Bank (PNB) launched three new products.
They are: automated electronic toll collection to facilitate hassle-free toll payment/collection; credit card mobile app; and a scheme for financing grid connected roof solar power projects.

2. Indian Railways to export modern locomotives worth Rs 680 cr to Sri Lanka

Rail India Technical and Economic Service (RITES)


Indian Railways will supply modern locomotives and train sets worth Rs 680 crore to Sri Lanka, in the largest export order for the public transporter.
Rail India Technical and Economic Service (RITES), a railways PSU, has secured its largest export order from Sri Lanka Railways for the supply of 10 broad gauge diesel locomotives and six DMU (diesel multiple units) train sets

3. Maharashtra schools raise Rs 216 crore via crowd funding

Utilised for revamping classrooms, building new toilets and on digital initiatives


Recent data of Maharashtra State Council of Education Research and Training (MSCERT) shows that between July 2015 and December 2016, school teachers in the state managed to raise a whopping Rs 216 crore from the public — funds that have been utilised for revamping classrooms, building new toilets and on digital initiatives, among others.

4. Govt. looks to sell stake in 7 PSUs

Plans to raise Rs.34,000 crore


Kick-starting the process of selling minority stake in seven PSUs including in bluechips like IOC, SAIL and NTPC which have the potential to collectively raise over Rs. 34,000 crore, the government has begun scouting for merchant bankers.

5. IRDAI sweetens the pill for vehicle owners

Lower than proposed.


Insurance regulator IRDAI notified revised third party motor insurance premium rates for 2017-18 that are higher compared with those in the previous fiscal for most categories of vehicles but lower than what it had proposed

6. Cyber response unit to be set up, says Reserve Bank

National Centre for Financial Education


The Sub-Committee of the Financial Stability and Development Council (FSDC), which met on Monday, discussed the setting up of a Computer Emergency Response Team for the Financial Sector (CERT-Fin), the Reserve Bank of India (RBI) said.

7. Wholesale inflation decelerates to 5.7%

March 2017


A decline in the prices of fuel and manufactured products helped inflation, as measured by the wholesale price index (WPI), to moderate to 5.7% (provisional) for March 2017 despite hardening of food prices, data released by the government on Monday showed.
The WPI inflation had touched a 39-month high of 6.55% (provisional) in February while it was -0.45% in March 2016.

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