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. Fino Paytech to digitalise rural banks
Fino Paytech will help NABARD to help the rural bank digitization drive in the states of Haryana, MP, Bihar, Gujarat and Maharashtra.
It will provide over 5000 Aadhaar enabled micro ATMs financial inclusion gateway services to district central cooperative banks and Primary Agricultural Credit Societies across these states.
NABARD deals with services related to agriculture.
2. Loan for India’s 1st waterway project
The World Bank has approved a loan of $375 million for the ambitious inland waterways project between Haldia in West Bengal and Varanasi in Uttar Pradesh.
The 1390 km waterway project of the shipping ministry would enable commercial navigation of vessels with capacity of 1500-2000 deadweight tonnage (DWT).
It was declared as a waterway in October 1986.
3. Anti-dumping duty on hydrogen peroxide
India may impose anti-dumping duty of up to $118 per tonne on import of hydrogen peroxide chemical used by industries in applications such as corrosion control and paper bleaching from six countries.
This will guard domestic players from cheap imports of ‘hydrogen peroxide’ from Bangladesh, Taiwan, Korea, Indonesia, Pakistan and Thailand.
4. AU Fin converts to small finance bank
Au Financiers has converted itself to Small Finance Bank from a Non-Banking Finance Company changing its name to AU Small Finance Bank.
AU started as a NBFC and was engaged in business of commercial and personal vehicle loans, Micro, Small and Medium Enterprises loans and SME loans.
As a NBFC, AU had network of 300 branches spread across 10 states.
5. RBI signs MoU with Bank of Guyana
The RBI announced signing of an MoU with the Bank of Guyana on “Supervisory Cooperation and Exchange of Supervisory Information”.
The apex bank signed the MoU, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater co-operation and share supervisory information.
6. Government to issue Sovereign Gold Bonds
Exit Option from – 5th year
Government in consultation with the RBI, has decided to issue Sovereign Gold Bonds 2017-18 – Series I.
The Bonds will be sold through banks, Stock Holding Corporation of India Ltd, designated post offices and recognised stock exchanges viz., NSE and BSE.
The tenure of the Bond will be for a period of 8 years with exit option from 5th year to be
7. Govt sells 9.2% stake in Nalco
The government raised over Rs 1200 crore through the sale of 9.2% stake in Nalco as both retail and institutional investors lapped up the shares offered to them.
The first PSU disinvestment of the current fiscal, Nalco also saw the government exercising the option to retain excess subscription, called greenshoe option.