Banking Awareness and Financial affairs updates for April 25th, 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. Flipkart to replace CEO for a day

With 35,000 employees,generates revenues of around $1.5 billion.


Flipkart is planning to replace its CEO for one day, to give an employee the opportunity to see how it feels to run the company. It is a part of the company’s 10th anniversary celebration.
Sources said the move sought to familiarize employees with challenges at different levels of management.

2. SEBI mulls on new guidelines and stringent measures

P-Notes is a Primary Target


SEBI is aiming to take a series of stringent measures to ensure black money flow via P-Notes are eliminated. It also aims to introduce several reform measures to smoothen current hiccups.
The board is all set to convene its first meeting under the chairmanship of Ajay Tyagi, who took charge since March 1, this year.

3. Indians send home $62.7 billion in 2016, highest globally: World Bank

$68.9 Billion in 2015


India retained the top spot among remittance-receiving countries despite a significant 8.9% drop in remittances in 2016.
The World Bank’s Migration and Development Brief stated remittances to developing countries fell for a second consecutive year, a trend not witnessed in three decades.
However, India also leads the countries with declined remittances with inflows amounting to $62.7 billion in 2016 from $68.9 billion in 2015.

4. Public sector banks merger could help banking system: Urjit Patel

Fewer healthy banks is better


RBI Governor Urjit Patel has said the Indian banking system could be better off if some public sector banks are consolidated to have fewer but healthier entities, as it would help in dealing with the problem of stressed assets.
“As many have pointed out, it is not clear that we need so many public sector banks. The system could be better off if they are consolidated into fewer but healthier banks,” Patel said while delivering the Kotak Family Distinguished Lecture at Columbia University.

5. Consultation paper on spectrum auction in 15 days: TRAI

TRAI Chairman Rs. Sharma


Telecom regulator TRAI expects to start the consultation process for the next round of spectrum auction in about a fortnight.
TRAI Chairman Rs. Sharma told reporters on the sidelines of FTTH APAC Conference that They expect to issue it (consultation paper on spectrum price) in about 15 days.

6. FIPB clears six FDI proposals worth ₹85-cr investments

Cabinet Committee on Economic Affairs (CCEA)


The Foreign Investment Promotion Board (FIPB) has approved six proposals entailing foreign direct investment (FDI) of about ₹85 crore and has recommended one proposal for approval from the Cabinet Committee on Economic Affairs (CCEA).
“The proposal involving ₹4,315 crore by Gland Pharma Ltd has been referred to the CCEA,” said an official statement on Monday.



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