Banking Awareness and Financial affairs updates for May 04th, 2017 – for IBPS, SBI, SSC Exams

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. Chinese-led AIIB loans $160 mn for Indian power project

Indian government’s 24×7 Power for All programme

 

The China-backed Asian Infrastructure Investment Bank (AIIB) will give a loan of $160 million for a power project in India where 300 million people have no access to electricity yet.
The project, co-financed with the World Bank, is part of the Indian government’s 24×7 Power for All programme and will strengthen the power transmission and distribution system in Andhra Pradesh.
The bank expects the Andhra Pradesh-24×7 Power for All project to be the first of many that AIIB invests in India

2. ADB pegs India’s growth at 7.4% for 2017-18

It will help create a more business-friendly environment.

 

According to the Asian Development Bank (ADB), the Indian economy will grow 7.4 per cent this fiscal and 7.6 per cent in the next as the bankruptcy and GST laws will help create a more business-friendly environment.

3. $ 770 bn black money entered India in 2005-2014: Report

Illicit Financial Flows to and from Developing Countries

 

US-based think tank Global Financial Integrity (GFI) reported that an estimated $ 770 billion in black money entered India during 2005-2014.
Titled Illicit Financial Flows to and from Developing Countries: 2005-2014, the report is the first global study to place equal emphasis on illicit outflows and inflows.

4. Centre sanctions Rs 200 crore for J&K primary teachers

Human Resource Development Minister Prakash Javadekar

 

Union Human Resource Development Minister Prakash Javadekar has announced that the Centre has sanctioned Rs 200 crore for paying pending salaries of primary teachers in Jammu and Kashmir.

5. Cabinet approves MoU on urea manufacturing plant in Malaysia

ex-post facto approval to signing of MoU with Malaysia on development of a urea and ammonia manufacturing plant

 

The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its ex-post facto approval to signing of MoU with Malaysia on development of a urea and ammonia manufacturing plant in the southeast Asian country.

6. Reliance, SAP launch ‘SARAL GST’ solution for taxpayers

MoU with enterprise application software

 

Reliance Corporate IT Park (RCITPL) has signed a Memorandum of Understanding (MoU) with enterprise application software major SAP SE to launch ‘SARAL GST solution for taxpayers.
According to the subsidiary of Reliance Industries, the new offering will enable taxpayers to be GST compliant and smoothly access the government’s GST System, once GST is rolled out from July 1, 2017

7. Shabana Azmi starrer The Black Prince awarded at film fest in Houston

50th annual Worldfest-Houston International Film Festival.

 

Hollywood film The Black Prince, featuring singer-poet Satinder Sartaaj and veteran actress Shabana Azmi, has been awarded the Special Jury Remi Award at the 50th annual Worldfest-Houston International Film Festival.

 

Banking Awareness and Financial affairs updates for May 03rd, 2017 – for IBPS, SBI, SSC Exams

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. India expected to achieve 7.1% growth this year

Economic and Social Commission for Asia and the Pacific or ESCAP

 

The UN Economic and Social Commission for Asia and the Pacific or ESCAP has launched its annual flagship report ‘The Economic and Social Survey of Asia and the Pacific 2017’
According to the report, India is expected to achieve 7.1 % growth this year as re-monetisation restores consumption, and infrastructure spending increases.

2. Space X successfully lands its Falcon 9 rocket after launching military satellite

It’s the first mission that Space X has done for the US military.

 

Space X has successfully landed it is Falcon 9 rocket on solid ground again, after launching the vehicle from Cape Canaveral, Florida. It’s the fourth time Space X has landed one of its rocket on land, and the 11th time the company has successfully recovered a rocket post – launch. It’s the first mission that Space X has done for the US military.

3. Modi releases stamp on Ramanujacharya’s 1,000th birth anniversary

Saint Ramanujacharya and said the central message

 

Prime Minister Narendra Modi on 1st May released a commemorative stamp on the 1,000th birth anniversary of Saint Ramanujacharya and said the central message of his life was inclusive society and religion.

4. India’s first ever transgender sports meet in Kerala a runaway hit

130 athletes belonging to the third sex participated

 

Kerala hosted India’s first ever athletic meet for transgenders in Thiruvananthapuram on Friday. (Twitter)
It had all the sound and fury of a mega sports event. Kerala on Friday successfully organised a sports meet for transgenders, the first of its sort in the country.
At least 130 athletes belonging to the third sex participated in the event that was well appreciated by a good crowd of onlookers at the central stadium at the heart of the state capital.

5. Dubai becomes the first city in the world to get its own Microsoft font

100 million users of Microsoft Office 365 around the world

 

Dubai has become the first city in the world to get its own Microsoft font. The font, now available to more than 100 million users of Microsoft Office 365 around the world, is the first font to be created by a city and named after it.
The font, available in three styles as ‘Dubai’, ‘Dubai Medium’ and ‘Dubai Light’, can be in italics, underlined and bold.

6. Sunil Chhetri bags ‘Hero of the League’ award

Bengaluru FC captain Sunil Chhetri

 

Bengaluru FC captain Sunil Chhetri, who smashed seven goals in the recently-concluded edition of the I-League, has clinched the most coveted ‘Hero of the League’ award.

7. Soumyajit Ghosh wins singles & doubles gold at Chile Open

ITTF World Tour tournament.

 

Ghosh became the third Indian to win a men’s singles title at an ITTF Challenge Series or ITTF World Tour tournament.
He defeated compatriot Anthony Amalraj in the men’s singles final to clinch the title. Also he combined with Amalraj earlier to win the men’s doubles title.

8.Bharti Enterprises appointed Soumen Ghosh as MD – Financial Services

Ghosh was heading the Financial Services business

 

Bharti Enterprises, one of India’s leading business groups, has appointed Soumen (Sam) Ghosh as Managing Director of Financial Services.
Prior to joining Bharti, Ghosh was heading the Financial Services business at Reliance Capital as Executive Director and Group Chief Executive Officer.

Banking Awareness and Financial affairs updates for April 27-28th, 2017 – for IBPS, SBI, SSC Exams

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. SAP launches solution to help SMEs

‘GST in a box’

 

Enterprise application software maker SAP launched a solution for SMEs to help them become compliant with the Goods and Services Tax (GST).
SAP has launched ‘GST in a box’, an all-inclusive solution portfolio designed to help SMEs.
SAP has committed to provide businesses with the necessary consultation and technology to efficiently adopt the GST regime through various initiatives.

2. Golden Peacock Business Award 2017

GMR Hyderabad International Airport Ltd has won

 

GMR Hyderabad International Airport Ltd has won the Golden Peacock Business Excellence Award 2017.
Golden Peacock Business Excellence Award seeks to characterize validated best management practices, as a basis for accelerating the rate of organizational improvement.
The Golden Peacock Awards were established in 1991.

3. Labour Ministry has proposed a minimum monthly income

Rs 10000 minimum monthly wage

 

The Labour Ministry has proposed a minimum monthly income of Rs.10000 for contract workers.
The move will drastically increase the minimum wages of contract labourers from around Rs.6000 per month that is paid to them in a few sectors at present.
At present, employers give the fixed minimum wages to workers for 45 economic activities.

4. YES Bank wins award

‘Golden Peacock Innovative Product Award 2017’ for innovative mobile technology.

 

YES BANK has won the prestigious ‘Golden Peacock Innovative Product/Service Award 2017’ for its innovative mobile technology product, SIMsePAY.
The Golden Peacock Awards, instituted by the Institute of Directors, India in 1991, are regarded as a benchmark of Corporate Excellence worldwide.
YES BANK is India’s fifth largest private sector Bank with a pan-India presence.

5. 10 heritage sites to be developed

The government announced 10 new iconic places

 

The government announced 10 new iconic places which would be developed as cleanliness role models under the “Swachh Bharat Mission”.
The decision to choose new places was taken at the second quarterly review meeting of the swachh iconic places, an initiative of the ministry of drinking water and sanitation under Swachh Bharat Mission.

6. e-SOT and e-PRAN card launched for Atal Pension Yojana subscribers

view to digitally empower the Atal Pension Yojana

 

With a view to digitally empower the Atal Pension Yojana (APY) subscribers and to improve the quality of service, the facility of online viewing of the statement of the transactions (e-SOT) and also the e- Permanent Retirement Account Number (e-PRAN card) have been launched.

7. Reserve Bank of India to issue new 5 and 10 coins

new 5 coins to celebrate the 150th anniversary of the Allahabad High Court.

 

The Reserve Bank of India (RBI) will soon put into circulation new 5 coins to celebrate the 150th anniversary of the Allahabad High Court. New 10 coins have also been minted to commemorate the 125th year of National Archives of India.

8. Government sanctions 1 lakh houses worth 4,200 cr for urban poor

Pradhan Mantri Awas Yojana(PMAY)

 

The Central Government has sanctioned construction of over one lakh more houses for the urban poor with an investment of Rs 4,200 crore under the Pradhan Mantri Awas Yojana(PMAY).

9. Agriculture Ministry comes up with model APMC Act to integrate agri markets

Agricultural Produce Market Committee (APMC) Act

 

The Agriculture Ministry has come up with a new model Agricultural Produce Market Committee (APMC) Act proposing single-point levy of market fee across a State and a united single trading licence for cost-effectiveness of transactions.
It has also suggested abolition of fragmentation of market with the State/Union Territory by removing the concept of notified market area insofar as enforcement of regulation by the Agricultural Produce and Livestock Market Committee (APLMC) is concerned.

10. AIIMS Becomes India’s First Public Hospital For Eye Tumours

To start plaque brachytherapy facility

 

The All India Institute of Medical Sciences (AIIMS) is India’s first public hospital to start plaque brachytherapy facility for the treatment of eye tumours
The facility is a form of local radiation delivered to the eye through a radioactive device which is attached to the eye for a temporary period of time.
The facility at the Rajendra Prasad Centre for Opthalmic Sciences will treat children suffering from a type of cancer called Retinoblastoma and adults who suffer from melanoma.

 

 

 

Banking Awareness and Financial affairs updates for April 26th, 2017 – for IBPS, SBI, SSC Exams

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. NITI Aayog says farmers should pay income taxes

NITI Aayog member Bibek Debroy

 

NITI Aayog member Bibek Debroy proposed, at a news conference on Tuesday, that Indian farmers should start paying income tax.
Debroy opined that income-fluctuation will also be taken into account while determining the tax threshold for farmers.
The suggestion comes at a time when TN farmers are protesting to seek drought relief after failing to sustain their lands.

2. MFIN launches financial literacy app

For the benefit of microfinance clients

 

Microfinance Institutions Network (MFIN), a self-regulatory organisation and an industry association of microfinance, has launched a financial literacy mobile app for microfinance clients.
The app was launched in the capital in the presence of Meenakshi Lekhi, Member of Parliament, and Manoj Mittal, Deputy Managing Director, SIDBI.

3. NHAI to set up panel to deal with disputes

The National Highways Authority of India (NHAI)

 

The National Highways Authority of India (NHAI) has decided to constitute a high powered conciliatory committee, consisting of senior functionaries to resolve various cases relating to construction of national highways, according to its Chairman YS Malik.

4. Vistara Airlines signs MoU with Punjab govt

Vistara Airlines in collaboration with Taj Hotels

 

Vistara Airlines in collaboration with Taj Hotels has signed an MoU with the Punjab government to promote tourism in the state.
Vistara CEO Phee Teik Yeoh and Gurjot Singh Malhi, Advisor to CEO, held detailed discussion on this with Punjab Chief Minister Amarinder Singh here, an official said.

5. Viewership shifting from TV sets to laptops, mobile phones

47 per cent to 10 per cent

 

With players such as Netflix and Hotstar luring viewers with new content, consumers are shifting their viewership from TV sets to devices such as laptops and mobile phones.
According to Accenture Digital Consumer Survey, the percentage of Indian consumers who prefer watching shows on TV sets plummeted from 47 per cent to 10 per cent over the last one year.

 

 

Banking Awareness and Financial affairs updates for April 25th, 2017 – for IBPS, SBI, SSC Exams

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.

 

 

Banking Awareness and Financial affairs updates for April 22-24th, 2017 – for IBPS, SBI, SSC Exams

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

5000 Aadhaar enabled micro ATMs financial inclusion gateway services

 

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

$375 million

 

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

$118 per tonne on import of 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 had network of 300 branches spread across 10 states

 

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

“Supervisory Cooperation and Exchange of Supervisory Information”

 

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

Tenure – 8 Years
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

Raised over Rs 1200 crore

 

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.

 

 

 

 

Banking Awareness and Financial affairs updates for April 21st , 2017 – for IBPS, SBI, SSC Exams

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. RIL pips TCS to become most-valued Indian company

Mukesh Ambani
Chief of Reliance Industries

 

The Mukesh Ambani-led Reliance Industries today regained its status as India’s most valued firm by market capitalisation, overtaking Tata Group’s crown jewel TCS.
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.

2. One in two public sector banks may require ‘prompt corrective action’: Fitch

PCA
Prompt corrective action

 

More than half the country’s state-owned banks would breach at least one of the four thresholds specified by the Reserve Bank of India under its revised “prompt corrective action” (PCA) framework, mainly owing to high non-performing loans (NPLs), according to Fitch Ratings. “It is possible that intervention could involve forcing banks to conserve capital, if other actions do not address problems. The risk of non-performance on bank capital instruments may therefore have risen,” said Fitch.

3. Mechanism soon to fix banking bad loan issue: Mundra

RBI Deputy Governor
S S Mundra

 

RBI Deputy Governor S S Mundra today said a mechanism will be worked out soon in consultation with the government to deal with the problem of mounting bad loans in the banking sector.
Last month, Finance Minister Arun Jaitley had said a resolution was being worked out with the Reserve Bank that would put enough pressure on borrowers to settle dues.

4. IOB may face sanctions from central bank

Lost Rs.2770 crores

 

Chennai-based Indian Overseas Bank (IOB) may face sanctions from Reserve Bank of India (RBI) after the lender breached the risk threshold on asset quality and is on course to violate the one on profitability.
IOB suffered a ₹2,770-crore loss in the first nine months of 2016-17 and it doesn’t have a full-time CEO.

5. Apple plans recycled material for its products

Ahead of “2017 Environment Responsibility Report”.

 

With an aim to help put an end to mining on earth, Apple has said it is planning to use 100 per cent recycled material to manufacture its products.
Citing concern for the planet’s future, the tech titan made this announcement on Wednesday, just ahead of the annual Earth Day celebration in its “2017 Environment Responsibility Report”.
All the electricity that Apple uses to power its data centres and 96 per cent used by its facilities worldwide comes from energy sources like solar, hydro and wind power, the company said.

6. Corporation Bank bags two awards

177 SME Branches

 

Corporation Bank has bagged two awards for 2016 instituted by the Chamber of Indian Micro Small and Medium Enterprises. Bank Managing Director and CEO Jai Kumar Garg received the awards in New Delhi on Thursday.
It emerged the winner in Eco-Technology Savvy Bank and Runner-up in Best MSME Bank under mid-sized banks category, said a release from the bank.
The bank has designated 177 branches across the country as “Specialised MSME Branches”.

Banking Awareness and Financial affairs updates for April 20th , 2017 – for IBPS, SBI, SSC Exams

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.

 

 

 

 

Banking Awareness and Financial affairs updates for April 19th , 2017 – for IBPS, SBI, SSC Exams

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

Losses estd between Nov 9 – Dec 30

 

 

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

First to get Payment Bank License

 

 

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

Cisco’s Senior IT Executive
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

Along with Team of Experts incl RBI executives

 

 

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.

Evan Spiegel
Snapchat CEO

 

 

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

Rajasthan CM
Vasundhara Raje

 

 

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

Asked to allocate more provisioning.

 

 

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.

 

Banking Awareness and Financial affairs updates for April 18th , 2017 – for IBPS, SBI, SSC Exams

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

NCFE
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%

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.