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. Banks want FinMin to foot ₹1,500-cr demonetisation bill
Struggling under mounting bad assets and declining profits, banks are planning to ask the Finance Ministry to foot the bill for losses incurred by them to implement the Centre’s demonetisation plan.
According to an initial estimate, the banking system lost nearly ₹1,500 crore between November 9 and December 30 to put in place systems and processes to suck out the scrapped ₹500 and ₹1,000 notes and gradually replace them with new ones.
2. Airtel Payments Bank gets 1,000 villages to go digital
Airtel Payments Bank, the first company to receive a payments bank licence from the RBI on April 11, 2016, aimed at bringing the un-banked into the banking fold.
The bank brought 1000 vilages under its foray, in which about two-thirds of the households have at least one savings bank account, while every village now has at least one banking point that enables citizens to access banking services (cash deposits, withdrawals and money transfers).
3. India urgently needs a data security policy
V C Gopal Ratnam
Cisco’s Senior IT Executive V C Gopal Ratnam told that India needs to accelerate the development of a security policy. He added that “In his opinion, it was probably needed yesterday. It was that urgent,”
4. Jaitley to leave for US tomorrow to attend WB, IMF, G20 meets
Finance Minister Arun Jaitley on Wednesday leaves on a five-day visit to the United States to participate in the Spring Meetings of the World Bank and IMF as well as deliberations of G20 nations.
5. Snapchat stock falls by 1.5 pc after social media backlash over CEO’s India comments.
Shares of Snap fell 1.5 percent on Monday as the Snapchat owner faced criticism for comments allegedly made by its CEO about not prioritizing growth in India and Spain because they were “poor” countries.
6. Rajasthan: State govt, HPCL sign agreement for Rs 43,129 cr Barmer refinery
In Rajasthan, the state government and Hindustan Petroleum Corporation Limited (HPCL) has signed an agreement for the Rs 43,129 crore Barmer refinery in the presence of Union Minister of state for petroleum and natural gas Dharmendra Pradhan and Chief Minister Vasundhara Raje in a ceremony held in Jaipur.
7. RBI warns banks about stress in telecom sector
The Reserve Bank of India (RBI) warned banks to be extra vigilant about loans given to companies in those sectors which are going through tough times and may witness rising bad loans. The central bank especially mentioned that the telecom sector was showing signs of stress and asked the board of directors of all banks to review their respective loans to companies in this sector by June this year.