Banking Awareness and Financial affairs updates for April 20th , 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. Telangana to spend ₹1,000 cr on rabi paddy procurement

90 lakh tonnes for the 2016-17 agriculture year.


The Telangana government will be spending about Rs 1,000 crore for purchase of paddy in the rabi season. Though severe drought hit several districts, the government expects good arrivals of paddy this season.
It is estimated that the State could achieve a total food grain production of 90 lakh tonnes for the 2016-17 agriculture year.

2. RBI data suggests Niti Aayog overstated rise in digital payments post demonetisation

1.43 time growth projected as 23 times by NITI aayog


In March, digital transaction volume went up 1.43 times. The 23 times increase, as indicated by Niti Aayog, is applicable only for Unified Payments Interface (UPI) volume and not for all digital payments methods.

3. Financially sound State entities can borrow directly from ODA partners

Official Development Assistance (ODA


The Cabinet has allowed financially sound State government entities to borrow directly from bilateral Official Development Assistance (ODA) partners for implementation of vital infrastructure projects.

4. Double taxation avoidance protocol with Portugal gets the green signal

Can Exchange tax related information


The Union Cabinet on Wednesday approved the signing of the Protocol amending the Convention between India and Portugal for avoidance of Double Taxation.
Once the Protocol enters into force, both India and Portugal would be able to exchange tax related information, which will help tax authorities of both countries to curb tax evasion.

5. Economic Survey now compulsory subject at Mumbai University

BA (Economics)


The University of Mumbai will be introducing the Central government’s Economic Survey as part of the curriculum for the second year of its BA (Economics) course from this academic year. The survey will be topically split into four sections, and will have a compulsory paper for 100 marks based on it.

6. PHFI loses FCRA licence for lobbying

Foreign Contribution Regulation Act (FCRA)


The Ministry of Home Affairs (MHA) has cancelled the Foreign Contribution Regulation Act (FCRA) licence of the Public Health Foundation of India (PHFI), the country’s largest public health advocacy group.





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